Abstract
The commercialization of university-based research occurs to varying degrees between academic institutions. Previous studies have found that multiple barriers can impede the effectiveness and efficiency by which academic research is commercialized. This case study was designed to better understand the impediments to research commercialization at the University of Kentucky via a survey and interview with three successful academic entrepreneurs. The study also garnered insight from the individuals as to how the commercialization process could be improved. Issues with commercialization infrastructure; a lack of emphasis, at the university level, on the importance of research commercialization; a void in an entrepreneurial culture on campus; inhibitory commercialization policies; and a lack of business and commercialization knowledge among faculty were highlighted as the most significant barriers. The research subjects also suggested that commercialization activity may generally increase if a number of factors were mitigated. Such insight can be communicated to the administrative leadership of the commercialization process at the University of Kentucky. Long term, improving university-based research commercialization will allow academic researchers to be more active and successful entrepreneurs such that intellectual property will progress more freely to the marketplace for the benefit of inventors, universities and society.
Highlights
In a commercialization survey conducted by the Association of University Technology Managers (AUTM), in 2013, United Statesbased institutions generated over 24,000 disclosures, obtained over 5,000 new patents, executed over 5,000 licensing agreements, formed over 800 start-up companies and generated $2.75 billion in license income[3]
The selection criteria for inclusion in the study was that the selected participants must be faculty members, have active research programs and be successful academic entrepreneurs based on having obtained patents, licensed intellectual property and created start-up companies
This case study investigated the mindset of three successful academic entrepreneurs at the University of Kentucky in relation to the status of the research commercialization process and in context with the university’s general commercialization activity
Summary
In a commercialization survey conducted by the Association of University Technology Managers (AUTM), in 2013, United Statesbased institutions generated over 24,000 disclosures, obtained over 5,000 new patents, executed over 5,000 licensing agreements, formed over 800 start-up companies and generated $2.75 billion in license income[3]. Despite this overall success, academic researchers experience many issues that obstruct the commercialization of research within higher education settings. Challenges to the effective and efficient commercialization of research inhibits obtaining the maximum benefit of university research in that such barriers can prevent university-based innovation from progressing to the marketplace for the benefit of inventors, universities and society
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