Commercialization & Valorization: Universities, - - PowerPoint PPT Presentation

Commercialization & Valorization: Universities, Entrepreneurship, Prototyping, Development

Roger R. Stough University Professor Associate Dean for Research School of Public Policy George Mason University Presentation - Uddevalla Conference 2013 Kansas City, Kansas June 13, 2013

Commercialization & Valorization

• Commercialization most used in the U.S.
• Valorization recent term; used in Europe
• Why?

– Commercialization pathway to value is market – Valorization: there are non-market pathways

• Culture?

Role of Universities in Society

• Teaching
• Create new & economically useful

knowledge

• Create societal benefits

–Products –Services –Quality of life and social existence

University Missions

• Education
• Research [& Economic

Development]

• Public Service

The Education Mission

• Teaching

– Knowledge transfer – Career preparation – internships; practicums – Placement – Continuing education – executive education – Workforce development – economic development – Societal maintenance – Adopting & adapting new technology – distance education

The Public Service Mission

• Social benefits

– Community development – Philanthropy – Job creation – Institutional maintenance – Cultural maintenance – Child rearing – de Tocqueville - American Exceptionalism

The R & D Mission

• Basic research – creating new knowledge
• Applied research – the D in R&D

– Intellectual property: patents – Prototypes – Licenses – Company formation and facilitation

• Economic Development

– Jobs – Income – Wealth – New firms

Research Definitions & Outcomes

New Knowledge

Research as Basic Enquiry

Research as Development Applied Translational Research

Translation of New & Existing Knowledge Prototypes Licenses Patents Companies Jobs Income Wealth

University Stress/Opportunity Factors: Education Mission

• Technical innovation → distance education
• Reduced financial support → cost cutting?
• Increasing demand from emerging economies
• Catalytic role of R&D and economic

development

Response to University Stress/Opportunity Factors – R&D

• Catalytic role of increasing research & economic

development

– Grows the market – Creates things that industry wants or needs – Builds intellectual property & possibility for equity & cashing out in the M&A market – Creates a feedback loop that stimulates demand for education services – Raises prestige & donor awards – Contributes to job, income & wealth creation

Competitive Factors in the Global Economy

• IT revolution
• Knowledge & Information Age
• Changing theories of Economic Development
• The emerging economies

– Labor cost and reverse engineering based competition

• How to off-set labor cost advantage &reverse

engineering advantages of emergent economies?

• Rapid & continuous innovation

Examples from Public & Private Universities in Developed Countries

• Rapid Equipping Force – U.S. Army
• Highly time-compressed software innovation
• University Application opportunities

– Distance & executive education; and, rapid prototyping

• Rapid & continuous innovation important for private sector?
• One of the few ways to compete

– Cannot protect digital knowledge; – Others access digital knowledge & rapidly reengineer it – & achieve significant labor cost advantages

• Must innovate faster than reengineering can occur

– Easier to do for technical & complex goods & services

Conclusions

• Universities: market stress & opportunities

– Distance & executive education – Research & economic development mission – How will universities be different? Or the same?

• Rapid & continuous innovation only way for

developed economies to compete?

• A role for Universities – pioneer rapid

innovation & transform R&d to r&D!

Some Pathways for the Future

• Promote development based research (applied &

translational research),entrepreneurship, commercialization and innovation in universities

• Promote social entrepreneurship and “public

sector entrepreneurship”: operationalizing the concept of valorization?

• Operationalize the concepts of commercialization

and valorization?

Planning for r&D Future

• Find or acquire faculty that can do R&D -most

can do R; some can do D

• Identify R&D clusters of expertise

– Need to know areas of specialization for the university or the unit – Network analyses of faculty expertise and ties to each other (see next slides for an example) – Incentivise “D”, e.g., create infrastructure & related rewards (see last slide for an example)

Secure Floor Prototyping & Applied Research External and internal support

• Founders Corp
• Mason Enterprise Center
• Social Entrepreneurship Center
• Management
• Engineering
• Research Office

Support for Growth Companies – A ”Company Factory”

• Access to Suites
• -Tech Transfer Office

Support for Lean & Micro Entrepreneurship & Outrearch: Training Workshops and Class Rooms

Thank You

Roger R. Stough [rstough@gmu.edu]