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This talk explores the importance of knowledge transfer in universities and how it can result in significant returns on investment. It highlights the challenges and opportunities in commercializing university research and suggests strategies for effective knowledge transfer.
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Committee of Vice Rectors of Polish Universities, Lodz - June 2012 Commercial Opportunities from University ResearchExperience from Oxford Tim Cook University of Oxford Director - Isis Innovation, (Managing Director 1997 – 2007) Associate Fellow - Saïd Business School, (Visiting Professor of Science Entrepreneurship 2006 -2009)
Knowledge Transfer (KT) is important for Universities, business and society It’s all about people Vision and interpersonal skills are crucial Modest investment in KT can give large returns Because universities have a lot of unexploited potential Some supporting evidence From fifteen years in an ancient university Summary
“University” covers a wide range of institutions They all teach Some train Most research Opportunities from a particular institution depend on: Resources available Financial, personal and intellectual Abilities & attitudes of staff both academic and administrative What are the opportunities?
If we add together the amount of money spent on research in Universities we will get a huge sum You will know better than I do what it is in Poland In the UK it is £1.5bn (zl 8bn) of taxpayers’ money What can the taxpayer expect for this? Educated students and perhaps some economic impact I am not disregarding the economic impact of education but teaching is funded from a different budget This talk is about the commercial impact from the Research Budget How big is the opportunity?
The creation, recording and dissemination of new knowledge Is it irresponsible to divert clever people from this to create commercial opportunities? Of course it would be irresponsible but It is possible to manage commercialisation Without disrupting academic activity What is the function of university research?
Boss(es) Transferring ideas Potential recipient of the idea Originator of the idea Resources Intermediary Potential recipient of the idea Originator of the idea
Transferring an idea (invention, procedure, service) from one environment to another is a cross-cultural activity KT is not the main priority of academics or industrialists Academics are fully employed doing what they do In the case of a researcher – research In the case of a teacher – teaching Potential recipients are busy doing what they do Running the company, dealing with their bosses / shareholders etc. And probably don’t see a need for outside ideas anyway So why is it difficult?
Not only are the sources & recipients busy There is a shortage of cross-cultural intermediaries The intermediaries are under-resourced Those allocating resources aren’t sure they want to do it anyway! Why is it difficult 2?
Everybody is busy And feels under-resourced Single track careers Few move back and forth between industry or academia Different value systems Between industry and academia Barriers to commercialisation
Different value systems Academia • Actions are necessarily independent • Quality & quantity of Publications • Funders fund activity not returns Commercial World • Corporate activities must be integrated • Much commercial confidentiality • Investors expect financial returns
Plan A (not successful!) Tell universities to be more “business-like” “Any competent industrial manager could soon sort them out” Tell industrial companies to support universities “Why don’t companies just give us more funding?” Plan B Understand the value and values of both cultures Support interfaces that use their unique strengths Action plan
To set up a collaboration between a non-German speaking Frenchman and a non-French speaking German needs more than just a translator We need someone who can explain French attitudes to life in German to the German and vice versa My first choice would be someone who had lived for some years in each country and understood how their different societies work Isis Project managers have PhDs & commercial experience Develop the interface
There have always been commercially adept academics 1959 Martin Wood spun Oxford Instruments out of Oxford University 53 years later: Market capital £600m (zl3bn), 1,500 employees There are many other examples from different universities but Considering the research spend there are not many A more effective support system can achieve a better return on this investment It is not all new
University Knowledge Transfer Office Some universities have an internal office funded by the university essentially a “service department” Knowledge Transfer Company, Wholly owned by a University E.g. Oxford, Cambridge and many others Knowledge Transfer Company, Partially owned by a University E.g. Imperial College, London Raising external investment gives more resource External investors will expect to have an input (may be positive or negative) Privately owned Knowledge Transfer Company By developing close relationships with one or more universities Entrepreneurial individuals can create value for universities & themselves Public Sector Organisation Can provide creative investment of public resources Where do you put the support?
Always operate in the environment as it is I don’t understand your individual environments But I know they are complex In 1997 I didn’t understand Oxford University But I knew it was complex Remember that there are only three participants The originator of the idea or service The potential recipient of the idea or service The intermediary (and those assigning resources) Our challenge, as promoters of KT, is to help all of the above want to do it enough to change their behaviour Advice to KTOs
They need to believe it is worth their time Internal (and external) marketing They need to believe you will help them Demonstration of success They need to believe the KTO is competent Employ competent staff! Demonstrations of previous success (but in their values) They are trusting you with something they care about Their ideas and their time Convincing researchers - so they are prepared to get involved
They need to know & remember you exist External marketing of the institution and the KT portal They need to trust you Demonstration of success They need to believe you are competent Employ staff who can relate to industrialists Demonstrations of your success (but in their values) They are trusting you with something they care about Their time Convincing recipients - so they talk to you
This is the hardest one! Identify potential contribution to the institution’s success Universities all need to demonstrate “impact”, so focus on it Regular report to Rector (good news on the front page!) Recruit influencers in University Seek their advice Help them identify with what you are trying to do Work hard on detractors If your activity is well run you will eventually convince (most) of them Convincing our own University - so it allocates some resources
Raising resources Sell the vision Raise expectations Raise resources Use new resources wisely & so expand expectations Raise more resources
All three must proceed together but the University must lead the change because.. The ideas are in the University If the University provides KT resource, change will happen faster Oxford pre-Isis 1 spin-out every 4 years, post-Isis 4 per year If the University doesn’t lead, the University may not receive its share of the benefits Entrepreneurial culture of researchers Localprofessionalenvironment Universityknowledgetransferresource Culture Change
Executive (policies) Knowledge Transfer Office Other academics Gene pool Commercially active academics The University
Lawyers Investors Head hunters PR agent Other start-ups Specialist suppliers Real estate Accountants Leasing Banks Students Brokers Itinerant Managers Consultants A “sub-culture” in a “barter economy”
University Reputation, interactions for students, royalties, spinout shares Researchers Technology, royalties from licences/consultancy and spinout shares Research Funding Sponsorship From spinouts and licensees Industry New technology Economy New industries and new technology to existing ones Investors who engage with Universities High returns on world class science Who benefits from Knowledge Transfer?
Opportunities exist in Universities for: Economic development Wealth creation both for the institution and for individuals To realise these benefits needs competent intermediaries and facilities The allocation of appropriate expertise & resources is essential for success And will produce a substantial return for Universities, Researchers and the Economy Conclusions
Thank you Contact tim.cook12@btinternet.com www.isis-innovation.com www.isis-enterprise.com
