The Office of Technology Commercialization: Bringing Innovations to the Marketplace
The growing support of the UVM Office of Technology Commercialization (OTC) for promising innovations is bringing more and more discoveries to the commercial marketplace. Some products have been the basis for startup companies, while others are licensed to existing companies. Increasingly, the further development of innovation occurs in the laboratory of the inventor in collaboration with the company to whom it has been licensed. "Our goal is to steward the technology through the necessary intellectual property channels to make the product or service available for the public good," explains Corine Farewell, D.V.M., M.B.A., Director of the OTC.
The OTC team consists of a blend of scientific, business, marketing, communications, and legal backgrounds tasked with keeping their fingers on the pulse of promising research at UVM. Their charge is to ensure that the technology transfer process begins as early as possible.
In FY 2013, the Office of Technology Commercialization received 29 invention disclosures. Those disclosures named over three dozen inventors from a variety of departments and units across the university. The disclosed inventions covered a broad range of scientific endeavors, encompassing both life sciences (diagnostics, therapeutics, research tools, and medical/surgical devices) and physical sciences (food systems, engineering, chemistry, and computer software).
In order to commercialize new technologies more effectively, universities often seek patent protection for their intellectual property. The University of Vermont filed 17 new patent applications while actively prosecuting 24 additional applications in the pipeline during FY13. The patent prosecution process is a multi-year commitment. The United States Patent and Trademark Office granted ten U.S. patents to the University of Vermont in FY 2013, evenly split with five each on life science or physical science subject matter.
Last modified May 12 2014 12:06 PM