The VIC Approach
There is an abundance of commercially promising but embryonic technology available for licensing from the nation’s universities and federal research laboratories. The U.S. federal government annually sponsors about $150 billion of research and development. Much of the technology created from this research ends up stranded because it is not sufficiently developed to attract large company interest. However, many of these technologies have exceptional commercial promise. The challenge is in assembling all the pieces necessary to harvest the best of these technologies in a manner where the potential reward considerably outweighs the obvious risk involved in commercializing early-stage technologies. Universities represent a good source of technical talent and university inventors frequently have interest in working with start-up companies to commercialize their inventions especially if the relationship is structured in a manner that allows them to continue in their full-time faculty positions. VIC’s technology venture development business model has been optimized to overcome the limitations with traditional technology transfer approaches and take advantage of the huge base of research conducted by U.S. universities.