7 Technology Transfer Officer Tips For Tough Economic Times

There is no doubt that these are tough economic times. Unemployment is high and credit is tight. Key indicates show that is the worse economy in a generation. Many technology transfer offices have seen potential business partners reduce their innovation portfolios and expenditures. This coupled with a reduction in funding sources, from grants and investors to university sources are blowing the technology transfer research commercialization efforts into the perfect storm.

There are difficulties and challenges, but these times also create opportunities. Here are seven tips to help your technology transfer office succeed in these tough economic times.

1. Maintain a list of problems that are relevant to the research and technologies in the pipeline.

Technology transfer offices typically get involved in research commercialization efforts late in the research and testing process. Get involved earlier in the process and start developing a list of problems of which the research can be applied.

This is really an early brainstorming exercise. Don’t just talk to the researchers. Get business input from those who are not involved with the research or the research teams. Independent ideas can be worth their weight in gold.

2. Develop long-term business relationships.

”Dig the well before you are thirsty.”
-Chinese Proverb

Start developing business relationships with business leaders from a wide range of industries. Do this even before you have any applicable research or solutions for them. These relationships will pay off in two ways.

• You will have a better understanding of the types of challenges that these businesses face.
• When you do have promising research technologies and solutions you already have a relationship with the business or their contacts.

3. Pair researchers with business

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