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Universities and federal laboratories are the cornerstones of American innovation, developing new products that address important societal issues and drive economic growth.
The University of Michigan, with support from the U.S. Department of Commerce's National Institute of Standards and Technology, studied public research universities across North America to identify best practices for bringing new products to market. The findings aim to improve national competitiveness by providing universities with a practical roadmap on how to translate research from the lab to the marketplace.
Universities - Demands - Research - Innovations - Good
"Universities face increased demands for translating research to innovations that can serve the public good," said Paula Sorrell, director of the U-M Economic Growth Institute, which led the study. "By identifying best practices, researchers created a foundation that can guide universities and labs, as well as policymakers, on how to increase the impact of the nation's research institutions."
U-M researchers interviewed and surveyed representatives at 59 Innovation and Economic Prosperity Universities, as designated by the Association of Public and Land-grant Universities, and together they identified the following best practices for technology commercialization:
University - Emphasis - Innovation - Leadership - Value
A university with a strong cultural emphasis on innovation has leadership that promotes its value both internally to the university and its faculty, as well as externally to the surrounding community.
Strong technology ecosystems are dependent upon champions—experienced professionals with industry and commercialization backgrounds—assisting in the maturation of a technology through expert guidance and mentorship.
Research - Career - Incentives - Ideas - Resources
Research career incentives are vital to motivate and reward new ideas, while resources provide the necessary environment for continued growth.
Cross-organization collaborations are necessary throughout the process to foster ideas and improve outcomes.
Researchers - APLU - Representatives - Plan - Share
U-M researchers and APLU representatives plan to share these best practices with universities and federal laboratories across the country in an effort to address prevailing gaps in the commercialization process, mentorship and...
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