An abundance of commercially promising but nascent technology is available for licensing from the nation’s universities and federal research laboratories. The US federal government annually sponsors about $120B of research and development. Add to this, the novel innovation created by international research institutions, and the pool of potentially game-changing technologies is enormous.
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 apparent risk involved in developing and commercializing early-stage technologies.
Universities represent a good source of technical talent, and university inventors frequently have an 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.
The VIC Technology Venture Development business model has been optimized to overcome the limitations of traditional technology transfer approaches and take advantage of the massive base of research conducted by US and international universities and similar organizations.