Commercialization and Impact
University of Ottawa like other universities, hospitals and research centres conduct a lot of research that generates ground breaking inventions that not only save lives, but improve the way we live, work and play on a daily basis. Technology transfer plays a central role in bringing these ideas from the lab to the market. We are the people who work to transfer the discoveries developed at universities and research centres to companies that can turned them into products and services that benefits society. This process is called technology transfer. Government and private organization provide funding that supports critical research from which new discoveries are created. Technology transfer professionals work to protect these discoveries and create partnerships to help these discoveries become new products. This sounds simple, but there are many steps involve in taking an idea and turning it in into a product. There are many challenges, some ideas make it, and some don’t. Thankfully, our Office is there for you and can guide you in this process. Sometimes an idea is transferred to an existing company and sometimes it inspires the creation of a brand new company. These companies turned these ideas into products that have a huge impact on improving lives, creating jobs and supporting new research discoveries.
The commercialization process can be different depending on organization or even the type of discovery itself. Our ISS office can help you understand the process and requirements of your specific institution and guide you to a customized commercialization path. One thing for sure, there is undeniable benefits of commercializing your research for you as well as for our university, so let’s work together to create real impact!
Potential Benefits of Commercializing Your Research
- Practical application of your research in developing products fosters the widest possible recognition of your research efforts.
- Collaboration with industrial partners may also result in financial sponsorship of additional research.
- Collaboration with industrial partners may financially support your students, provide them invaluable experience, and potentially future career paths.
- Potential monetary compensation in the form of equity, license fees or royalty payments.
University Benefits of Commercializing Research
- Ensure public benefit from university research.
- Enhance the university’s research environment.
- Develop lasting industry relationships.
- Generate revenue for the university
- Meet the university’s intellectual property obligations to research sponsors.