In the world of research and development, universities and research institutions are constantly making groundbreaking discoveries that have the potential to change the way we live our lives. From Google's search engine to the polio vaccine to CRISPR-Cas9 gene editing technology and OLED technology, these inventions have had a major impact on society. But how do these ideas make their way from the lab to the marketplace? That's where technology transfer professionals like Prabhpreet Gill come in.
Gill, a Technology Licensing Associate at Princeton University manages a portfolio of inventions from various departments at the university, and it is his job to take these ideas from the lab and bring them to fruition in the real world. This process, known as technology transfer, involves evaluating the patentability and commercial potential of an invention, protecting it with patent applications, and either licensing it to existing companies or forming a startup based on the technology. He has agreed to provide some insight into this growing profession of technology transfer.
Q: Can you describe your role in the tech transfer process?
A: My role at Princeton University involves managing an active portfolio of over 200 inventions from various departments. When a researcher discloses an idea to our office in the form of an invention disclosure, I meet with the inventors and analyze the technology to determine its patentability and commercial potential. I then work with patent attorneys to develop an intellectual property (IP) strategy and secure patents to protect the invention. These patents can then be licensed to existing companies or start-ups. For existing companies, this involves negotiating and executing various contracts, such as confidentiality agreements, sponsored research agreements, material transfer agreements, and licensing and collaboration agreements. If the strategy is to form a start-up, I engage with external partners, including venture capital firms, to secure funding and provide other support for start-ups based on university research. I also work with our licensees to ensure that the companies are taking the necessary steps to successfully commercialize the technology.
Q: Why is tech transfer so important?
A: Tech transfer is vital because it helps drive economic growth, create new jobs, and improve society through the development of new products and services. It also supports the mission of universities and research institutions to advance knowledge and contribute to the public good by generating revenue that can be reinvested in new research initiatives. Much of the research conducted at US universities and research institutions is funded through taxpayer dollars, and converting this research into products and services has a direct impact on society. By facilitating the transfer of technologies from universities and research institutions to the private sector, technology transfer helps to achieve this goal.
Q: How does an idea become a product in technology transfer?
A: The process of taking an idea and turning it into a product involves several steps. The first step is identifying an idea or technology that has the potential to be developed into a product. This may involve working closely with researchers and understanding their research to identify technologies that have commercial potential. Next, the idea is evaluated to determine if it meets a need in the market. This includes conducting market research, patentability assessments, and assessing the potential for licensing or forming a startup based on the technology. If the idea has commercial potential, the next step is to develop an IP and commercialization strategy. This may include filing patent applications, identifying potential industry partners, and securing proof of concept funding. After a potential licensee is identified, the technology transfer professional will negotiate and execute licensing and other technology transfer agreements. The licensee then works towards developing the technology into a product or service.
Q: How is the technology transfer field evolving and what skills are required for success?
A: The technology transfer field is constantly evolving as demand for innovation increases and university spinouts become more common. According to data from the Association of University Technology Managers (AUTM), 996 new university spinouts were created in 2021 to commercialize university research. This trend has led technology transfer offices to equip themselves with the resources and support needed to help researchers form spinouts and bring their technologies to market.
Technology transfer professionals typically have a combination of technical and business backgrounds. Many have graduate degrees in fields such as engineering, computer science, or biotechnology, as well as working knowledge of intellectual property law. Strong analytical skills are important for evaluating technologies and developing commercialization pathways, and strong communication and negotiation skills are essential for communicating with researchers, patent attorneys, industry professionals, and other stakeholders, and negotiating and executing technology transfer agreements. In addition, tech transfer professionals must be able to manage complex projects and adapt to a constantly evolving field.
Q: What are the implications of the CHIPS and Science Act for technology transfer?
A: The CHIPS and Science Act, signed into law last year, aims to support semiconductor research and production in the U.S. It includes a provision called "Sec. 10391. Planning and capacity building awards," which authorizes $3.1 billion to support technology transfer capacity building at research institutions. This includes identifying academic research with commercial potential, providing technology transfer expertise, offsetting the costs of patenting and licensing, developing corporate partnerships, and supporting the education and training of entrepreneurial students and faculty. This is a significant development for the technology transfer community and will help drive innovation in the U.S.
Q: What motivated you to work in technology transfer?
A: Imagine being the first person to learn about a technology that has the potential to solve our world's problems - that's what excites me the most. The opportunity to work with cutting-edge technologies and commercialize them for the benefit of the public is highly rewarding. As a technology transfer professional, I have the chance to work with a diverse range of stakeholders, from researchers to attorneys and industry executives. The field's intersection of science, business, and law makes it a dynamic and exciting place to work.
