Necessity To Speed Up Efforts For Commercialization Of Tech

Necessity To Speed Up Efforts For Commercialization Of Tech

There is a requirement for public research universities and institutions to pace the chance for commercialization of techs in the expedition for speeding economic development, as per a survey.

The STEM (Society for Technology Management) survey on status of transport of academic techs for commercialization in India discovers that less than 1% of sheltered technologies from the academia have reached the businesses to bring them to market.

As per the survey, rolled out at the STEM yearly summit 2017 here this week, there is a noteworthy dearth of professionals for technology management engaged by the publicly supported universities and the public investigation institutions to manage the IP portfolio, defend innovations, and engage in transmission of technologies with due corroboration of their significance for markets.

The study additionally discovers the lack of institutional rule that motivates the institutional engagement in transfer of technology and their next stewardship via the commercialization stage. Indian public research spending is in the series of 1% of GDP and the research spending has developed considerably over the last few years. The aim on management of intellectual property and the reach of techs to commercial businesses will attribute appreciably to gain paced economic development, it claimed.

On the other hand, this might need noteworthy aim on formation of required institutional structures within defined rules, enhancement of professional skills, and formation of devoted functional groups that might steer the tech transfer inside the institutions, it claimed. As per K Vijayaraghavan, president of STEM and founder of Sathguru Management Consultants, claimed, “Public research universities and the institutions in India making market relevant techs are immediately needed to aim on making institutional structure and engage capable professionals to pace transfer of technology.

“International firm in India are filing for more patents. So far public research institutions in India have been very preventive in reaching out to commercial businesses to bring techs to market.”

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