Incentivizing University Faculty for Commercialization Activity Live

Incentivizing University Faculty for Commercialization Activity – Live Webinar – October 5, 2016– 1: 00 -2: 00 pm ET Sponsored by:

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Panel of Experts Joy Goswami, Assistant Director, Office of Economic Innovation and Partnerships, University of Delaware Joy oversees and manages technology transfer activities and corporate relations. He is actively involved in managing intellectual property, assisting in establishing start-up and spin-off companies and bringing forth university-industry collaborations and partnerships. He is an NIH-SBIR/STTR reviewer and has more than twelve years of experience in the field of business development in a career that has produced highly regarded commercialization strategies and outreach practices of novel technologies in the biotechnology, agriculture and biomedical sectors. He is a Registered Technology Transferred Professional, a USPTO Registered Patent Agent, and a Howard Bremer Scholar.

Panel of Experts Tony Armstrong, President and CEO, Indiana University Research & Technology Corporation Mr. Armstrong has served as president and CEO of the Indiana University Research & Technology Corporation since August 2008, as well as assistant vice president in the Indiana University Office of the Vice President for Engagement. In these positions, Tony helps guide IU’s efforts to further economic development and job creation, to support new business ventures, to transfer IU-developed technologies to the marketplace, and to build partnerships with businesses and universities across Indiana and throughout the nation and world.

Importance of this issue • Decline in industrial R&D is forcing research universities to play a central role in developing knowledge-centered economy through tech transfer of their innovations. • The cultural change is slow but may be catalyzed by incentivizing faculty. • Should universities change their culture and make patenting and commercialization activities by faculty count toward promotion & tenure, and career advancement evaluation?

How the TTO can positively promote incentives Promotion and tenure • Inclusion of patents and commercialization into tenure and promotion has begun (39 institutions cited). Its culture is bottom up (National Academy of Inventors, 2013) • Virginia Polytechnic Institute Language: “ 1. Start-up businesses (including competitive grants and contracts such as SBIR awards and other notable business achievements) 2. Commercialization of discoveries, 3. Other Intellectual properties: a. Software b. Patents c. Disclosures (prepatent)” • Sabbatical Leave Incentive for career advancement

How the TTO can positively promote incentives Financial incentives • Providing higher percent of royalty payment to faculty (Siegel et al. 2003) • Offer an ‘insurance’ to the faculty for disclosing their invention to the TTO (Panagopoulus et al. , 2011) • Concessions to faculty driven startup (Markman et al. 2005) • Institutionalizing Royalty sharing agreements to override standard policies • Communication and complete transparency of royalty distribution

How the TTO can positively promote incentives • Examples of specific incentive plans for innovation • University of Minnesota’s – Innovation Partnership program • The University of Alabama Institute for Innovation and Entrepreneurship - collaboration between researchers and industry encouraged to solicit IP creation. • University of Delaware – Spin-In Program • University of Arizona - Tech Launch Arizona Program

How the TTO can positively promote incentives • Examples of specific incentive plans for entrepreneurship: • The University of Pittsburgh – Offers a Business of Innovation Commercialization course aimed at educating and motivating both student and faculty researchers in innovation development, commercialization, and entrepreneurship. • University of Southern California – Promotes faculty entrepreneurship and innovation by supporting, rewarding, and funding the work of faculty members. • University of Virginia – In 2010, the University’s School of Medicine was among the first to include commercialization and entrepreneurship activities among its promotion and tenure criteria. • University of Nebraska Medical Center’s Entrepreneur in Residence (EIR) – The EIR works with licensing staff and researchers at the University of Nebraska’s Medical Center to help identify, evaluate, develop, and support the creation of new companies based on UNMC innovations.

Gaining buy-in and leadership from senior administration • President, Vice President for Research, Vice President for Engagement/Economic Development • • Trustees of University Intellectual Property Policy Council Faculty Council Board of 501(c)3

Revisiting your IP policies • • royalty share policies IP prosecution cost sharing Revenue sharing policies IP policies related to sponsored research program IP ownership issues IP sale and auction policies Returning IP rights back to inventors (abandonment)

Handling pushback • Expectations have changed for research universities • • • Legislative Alums Revenue generator Economic development partner Talent provider Need to be more engaged in communities we serve

Outreach efforts • Recognition of faculty who participate effective tool • Helping faculty tap new sources for support • Serve as a “bridge” to outside collaborators • Share our technology/know-how • Bring in competitive intelligence

Outreach efforts • Tapping into alumni resources and buy-in: • Mentors • Beta users • Financial support • Talent scouts • Champions of efforts to change

Pros and cons • • Hard to change cultures/pre-existing perceptions Administratively difficult to get approvals Recruiting tool for new faculty in certain disciplines Tackling the perceived -- and real -- pros and cons

Lessons Learned • • Takes a long time to accomplish Constant change occurring/hard to keep up Resources are harder to come by for these efforts Everyone has an opinion/not shy in sharing Complex subject that is easily misunderstood Need to constantly educate about goals/process Celebrate any victories (even small ones)

Questions? Utilize the chat at the bottom right of your screen. Choose Debi Melillo from the drop down box to submit your question for consideration. Thank You!

Contact Us Joy Goswami Tony Armstrong Assistant Director President and CEO University of Delaware Technology Transfer Center Office of Economic Innovation & Partnerships, One Innovation Way, Suite 500 Delaware Tech Park; Newark, DE 19711 Phone: 302 -831 -3547 (o); 302 -650 -9710 (c) Indiana University Research & Technology Corporation 518 Indiana Avenue Indianapolis, IN 46202 Phone: (812) 855 -7353 atarmstr@indiana. edu