Research Commercialization and Economic Sustainability: Basis for Establishment of Research Utilization Office in Universities

Abstract

Peralta (2008) viewed intellectual property rights as valuable assets that could help propel a company or even a nation towards economic well being. However, Amorado (2012) cited the alarming fact that most researches ended into their shelflife tragedy. Grounded on these contentions, this study sought to determine the contribution of research commercialization to economic sustainability of universities by utilizing a mixed method of research via triangulation technique. Findings confirmed the validity of both contentions. Key Informants from government agencies of region XI and selected university administrators were united in their perspective that universities must become self-reliant by strengthening their income generating capacities through commercialization of their marketable researches. However, the quantitative findings revealed that although there were enough university inventions and innovations, the extent of research commercialization was still very low which resulted to only 14.6 % contribution to their own economic sustainability. This study inferred that the current mindset of universities in region XI is not yet for research commercialization because such an endeavor has not been woven yet into their research culture. Hence, the establishment of research utilization and commercialization office in universities is an urgent need. Keywords - Research Commercialization, Economic Sustainability, Research Utilization and Commercialization Office