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Looking to expedite university tech transfer.

The House Subcommittee on Technology and Innovation has herd a hearing to examine how universities and nonprofits are transferring the results of federally funded research into the marketplace. Discussion included steps that tech transfer offices are taking to encourage commercial development, and possible reforms to federal laws that may assist them in this effort.

The major legislation which affects universities in this area is the Bayh-Dole Act of 1980, which was designed to improve collaboration between businesses and nonprofit organizations, and promote the commercialization and utilization of inventions arising from federally supported research and development.

Witnesses received questions about possible amendments to the Bayh-Dole Act, including whether to allow the government to recover some of its investment when federal research results in commercial products, and to permit free agency arrangements giving researchers greater freedom to take commercial licenses directly to third parties. Witnesses instead encouraged Congress to examine ways to support the development of regional tech transfer offices in order to assist clusters of smaller universities that might not be able to provide adequate support for their own tech transfer programs.

Todd Sherer, president of the Association of University Technology Managers, praised the contributions made possible through the Bayh-Dole act. Sherer said that federally funded university research helps to generate an average of 1.7 new companies per day and helped create 657 new products in 2010 alone.

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Title Annotation:NEWS & NOTES
Comment:Looking to expedite university tech transfer.(NEWS & NOTES)
Publication:Mechanical Engineering-CIME
Article Type:Brief article
Geographic Code:1USA
Date:Aug 1, 2012
Words:228
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