2.6 Why is commercialisation important to universities, their staff and students?
is important for universities not so much for income generation, but because:- being highly dependent on taxpayer support, universities have a responsibility to transfer their research results into society for its benefit, improving lives and creating new industries and jobs
- it increases industry engagement, which helps universities to find new R&D avenues, collaborators and funding, and enhance the career prospects of staff and students.
Critically, commercialisation does not prohibit publication and peer review of .
Immediately after application is made for IP protection, the IP can be disclosed (e.g. published or discussed publicly), because only prior disclosures disallow the application. As a means of disseminating research results, commercialisation can be more extensive and enduring than academic publication and networking.
The potential personal benefits from commercialisation for university staff and students include:
- fresh perspectives on R&D opportunities
- additional R&D funding sources
- access to industry knowledge and expertise
- increased job satisfaction from greater development and dissemination of
- enhanced employment opportunities within and beyond universities
- occasionally, a share of financial profits
