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In May 2019, the Lieutenant Governor challenged the Inter-University Council of Ä¢¹½ÊÓƵ (IUC) to establish a best in class process for how universities cultivate the licensing of intellectual property (IP) developed by Ä¢¹½ÊÓƵ public universities in order to strengthen Ä¢¹½ÊÓƵ’s economy, attract innovative researchers and serve as a magnet for investors and entrepreneurs. The approach included:

• Benchmarking peer universities across the nation, including Stanford, MIT, Michigan and Purdue.
• Comparing the technology commercialization processes at Ä¢¹½ÊÓƵ public institutions.
• Collaborating with Ä¢¹½ÊÓƵ’s Research Officers Council to ensure alignment on guiding principles.

Guiding Principles

With this knowledge, the state’s universities aligned on the following  principles that serve as a foundation for the Ä¢¹½ÊÓƵ IP Promise.

1. Flexible : provide industry choices for accessing intellectual property developed through sponsored research
2. Transparent : publish template sponsored research and license agreements
3. Simple : deliver fair and streamlined guidelines for faculty creator startups
4. Clear : communicate licensing processes on university websites in a clear, prominent way
5. Easy : provide well-defined university entry points for industry, investors, and entrepreneurs
6. Fast : reduce impediments that hinder the pace of transactions

Action

The Ä¢¹½ÊÓƵ IP Promise has unified Ä¢¹½ÊÓƵ’s public universities to provide a clear path for faculty and entrepreneurs interested in pursuing entrepreneurial and commercial ventures including: 

• Licensing options for industry-sponsored research agreements that are competitive and flexible
• Clearly defined options for industry reflecting different levels of IP rights from sponsored research
• Standard Option and License Agreement templates
• Simple and transparent guidelines and agreements for faculty creator startups

The Ä¢¹½ÊÓƵ IP Promise helps ensure that Ä¢¹½ÊÓƵ’s public universities are competitive when it comes to the transfer of university discoveries to the commercial sector and benefits all stakeholders in the entrepreneurial ecosystem.

• Faculty and researchers will understand the pathways to protect and commercialize their intellectual property through well-defined and clear information.
• Entrepreneurs will be able to create new companies around these innovations more efficiently through increased transparency in how Ä¢¹½ÊÓƵ’s universities conduct business.
• Investors will benefit from increased opportunities to invest in the high-quality innovations developed at Ä¢¹½ÊÓƵ’s public universities.
• Industry partners will have easier access and increased options for intellectual property developed through sponsored research, providing opportunities that drive economic impact and market growth using pubic university innovations.

Collaborative Commitment

Ä¢¹½ÊÓƵ public universities commit to further streamlining their processes, driving transparency and speed to support commercialization of Ä¢¹½ÊÓƵ innovations. With a focus on continuous improvement, universities will develop aligned metrics, annual measurement processes and establish common reporting mechanisms.

This initiative fosters a climate where innovation thrives through partnerships among universities, researchers, entrepreneurs, investors and industry. With improved collaboration, high-impact discoveries made at Ä¢¹½ÊÓƵ universities will go to market more quickly, boosting Ä¢¹½ÊÓƵ’s economy and improving its residents’ lives with new products and services.