New progressive strategy aims to bolster economic impact of research outcomes
Memorial is moving ahead with its efforts to further support and foster research with social and economic potential.
At its Dec. 3 meeting, the Board of Regents approved the university’s new Technology Transfer and Commercialization Strategy, an initiative led by the Office of the Vice-President (Research).
“Memorial is seizing the opportunity to establish one of the most progressive technology transfer and commercialization environments in the country for all forms of intellectual property arising from knowledge creation and artistic creation,” said Dr. Richard Marceau, vice-president (research).
“We’re aiming to unleash Memorial’s economic potential,” added Dr. Marceau. “This approach offers another opportunity for Memorial to fulfill its special obligation to the people of our province.”
The strategy’s detailed action plan focuses on four main areas:
- Fostering a progressive culture of technology transfer and commercialization;
- Revising and implementing policies in support of technology transfer and commercialization;
- Establishing responsive business structures and processes; and
- Ensuring adequate oversight and guidance of its technology transfer and commercialization structures and processes.
Last year, the technology transfer function performed by Genesis Research, a separately incorporated entity of the university, was repatriated to the Office of the Vice-President (Research). This move prompted an examination of Memorial’s readiness and support for technology transfer.
In order to develop the new strategy, Memorial held broad consultations with key stakeholders including industry associations, government, industry partners as well as pan-university representatives. A review of current literature and best practices was also conducted. The strategy was developed, endorsed by Senate and approved by the board.
“A clear message we heard from our conversations was that Memorial needed to increase its contributions towards advancing both social and economic benefits for the province,” added Dr. Marceau.
Memorial’s Research Strategy Framework and the Strategic Research Intensity Plan already support faculty members in the pursuit of research excellence while encouraging all forms of scholarly dissemination. Dr. Marceau said the new strategy complements this work.
“Our new strategy values these principles and builds on them to enhance dissemination paths for all forms of intellectual property to increase the economic impact of some research outcomes,” he said.