Research Commercialisation - ITEK - The Commercialisation Company of the University of South Australia
Research Commercialisation
ITEK’s Role in Commercialisation
ITEK acts on behalf of the University of South Australia in commercialising Intellectual Property (IP) via Licensing Agreements, Joint Ventures or Spin-out companies. It is important to note that ITEK may also decline to invest in an idea or IP if it feels it cannot obtain a successful commercial outcome. However, even in this instance ITEK will provide general advice and assistance to the researcher/inventor should they choose to bring the technology to market via some other means.
ITEK collaborates with the researcher to focus on finding the most appropriate and viable means of bringing new research to market based on the status of the technology, the strength of its Intellectual Property (IP), the potential target market, market window (timeline), competition and industry/partner interest.
Most research requires additional support, funding, business, legal and financial experience to successfully develop and bring to market. ITEK utilises a commercialisation process geared towards readying the technology for market entry as each stage of the process is passed.
Terminology used in Commercialisation Process
There are no hard and fast rules of when to consider one approach over the other. However here are some good guidelines adopted from Spruson & Ferguson that should be considered:
Licensing Model
This involves granting commercialisation rights to the developed IP for exploitation by a third-party individual or company. Licensing deals can be highly complex given the many and varied options that can be considered, such as: exclusive or non-exclusive licenses, limits by geography, market segment or time frame.
Licensing creates various expectations among all stakeholders that need to be carefully managed and supported. ITEK manages these expectations and relationships on behalf of the University and/or the inventor.
You may opt for a licensing model if:
- The technology is incremental or dependent upon others
- There is an obvious logical fit with an existing industry collaborator or licensee
- The target market mature (low growth) and the IP will help an incumbent increase market share
- There are multiple applications of the IP in distinct industries and market segments
- The market is concentrated with substantial barriers to entry
- Low researcher interest or engagement