More Than Money: The Exponential Impact of Academic Technology Transfer

• Authors: Valerie Landrio McDevitt, University of South Florida; Joelle Mendez-Hinds, University of South Florida; David Winwood, University of Alabama Birmingham; Vinit Nijhawan, Boston University; Todd Sherer, PhD, Emory University; John F. Ritter, Princeton University; Paul R. Sanberg, University of South Florida
• Journal Title: Technology and Innovation
• Volume: Volume 16, Number 1
• Publisher: Cognizant Communication Corporation | 2014-06-10, Pages 75-84
• Type of Work: Article | Final Publisher PDF
• Publisher DOI: http://doi.org/10.3727/194982414X13971392823479
• Subjects: Education, Technology
• Keywords: Technology transfer; Innovation; Bayh–Dole; Commercialization; Start-ups; Technology licensing; Academic innovation

Abstract

Academic technology transfer in its current form began with the passage of the Bayh–Dole Act in 1980, which allowed universities to retain ownership of federally funded intellectual property. Since that time, a profession has evolved that has transformed how inventions arising in universities are treated, resulting in significant impact to US society. While there have been a number of articles highlighting benefits of technology transfer, now, more than at any other time since the Bayh–Dole Act was passed, the profession and the impacts of this groundbreaking legislation have come under intense scrutiny. This article serves as an examination of the many positive benefits and evolution, both financial and intrinsic, provided by academic invention and technology transfer, summarized in Table 1.