I’ve spoken to many different tech transfer offices at universities all over the world, and they all tell me of the great difficulty in finding any partner for much of their research - let alone finding the best company partner. Instead, they often feel pressured to accept the single licensing deal on offer, even if the company isn’t really a great fit.
When I ask why, I always receive a variation of this answer: because they feel that they don’t have any other choice.
What? I say, surprised. How can that be? Your project is great! At this, they sadly shake their head and agree with me. Yes, our technology is great, they tell me, yet only one company wants it. What can we do?
Wouldn’t you like to have many companies trying to license each of your projects?
Of course you would! And you can achieve that goal, by packaging your tech with a business strategy focus.
What do I mean by a “business strategy focus”? Raw technology, no matter how amazing, can be a difficult sell. Applying a business strategy focus to your technology turns that raw tech into an amazing product, making it much easier to license.
Applying a business strategy focus requires you to:
• Expand potential product applications of an idea
• Find companies who are open to partnerships
• Zoom in on those companies who both want to partner and want that product application
In the next few weeks, we’ll be going through a step by step explanation of how you can package your technology with a business strategy focus - to find not just more potential partners, but the best partners for your university.
Want to get started right away? Schedule a meeting with me and I’ll walk you through the entire process.