BIA_logoThe House of Commons Science and Technology Committee has released a report on managing intellectual property and technology transfer that states that improvements are needed to the commercialisation of university research.

Responding to the findings of the report, BIA CEO Steve Bates said: “BIA members, large and small, form partnerships with universities to access expertise, facilities and IP.  Innovation is highly dependent on constructive academia and industry collaboration and we welcome the Committee’s recommendation for the government to examine what skills are needed in universities to successfully value IP and broker negotiations.”

“There are bottlenecks in the current system, particularly around efficient IP protection and outlicencing.  Although this represents a tiny fraction of academia-industry interaction in financial terms, this has a major impact on transforming innovation into products and services of high impact.”

“The continued push to a more open-gate approach from universities should be encouraged, as well as a greater harnessing of national expertise across the technology transfer community. With the creation of UKRI, there is an opportunity to look again at overall value creation from university licenced IP to the UK’s economy as a whole, rather than being institution-specific.”

“Both public and private investment in research and innovation is critical and continued government support, in the form of R&D tax credits and schemes such as the biomedical catalyst, are rightly recognised by the Committee as playing an important role.”

You can read the press release that includes links to the full report and summary on the Parliament UK website.