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WINNING

for

STRATEGIES

GE REVENUE

NERATION

Intellectual Property

“This includes more patent filings, new licenses signed and more startup companies, a good indicator that the Bayh-Dole Act is working as intended.” The 30-year-old Bayh-Dole Act requires

universities to distribute to inventors the pro- ceeds from licensing federally-funded inven- tions, after subtracting the costs of patenting and licensing activities. While percentages vary from institution to institution, the typical royalty policy distributes about one-third of net income to the inventor or inventors, one- third to the inventor’s department and/or college, and the final third to the university to support research and education. In higher education, “mission” trumps

even the appearance of “profit.” A survey conducted by the Council on Government Regulations reveals that the university share of revenues often funds activities that sup- port the research and educational missions of the institution. As the economic malaise continues, that may change.

Incubators

Some 25 percent of the 1,000 North Amer- ican business incubators are sponsored by academic institutions. Incubators that reside on campuses enjoy ideal breeding conditions: technology, industry experts, scientists, researchers, business minds, young energetic entrepreneurs, research grants, and legal advice from tech transfer offices. Incubators nurture the development of

entrepreneurial companies, helping them survive and grow during the start-up period, when they are most vulnerable. They provide their client companies with management guidance, business planning and help obtain- ing financing. Incubators also offer rental space with flexible leases, shared office services and access to equipment – all under one roof.

16 Today’sCampus

“ The tax revenue generated from our activity returns $5.25 for each $1.00 of public investment.”

—Tom O’Neal, founder and executive director of the University of Central Florida’s business incubation program

Incubators are not often money-makers

for the institutions that run them. The ben- eficiaries are often students or researchers and even the local community from job cre- ation and increased tax base. Tom O’Neal, founder and executive

director of the University of Central Florida’s business incubation program says, “ The tax revenue generated from our activity returns $5.25 for each $1.00 of public investment.” The UCF incubator presently involves 85 companies. It represents 1,600 local jobs and an overall economic impact of $200 million annually to Orlando’s tech corridor. The Advanced Technology Development

Center (ATDC) at Georgia Tech, is one of the better known university technology accel-

erators. ATDC has helped launch 120 start- ups. Combined, these companies have raised more than $1 billion and produced millions in revenues. The Georgia Tech VentureLab also helps companies spin out of the univer- sity and commercialize new research. VentureLab has launched 150 more Geor- gia-based startups that utilize university IP. In all, Georgia is home to 25 incubators, and each of Georgia’s research universities collaborates through a network of Technol- ogy Development Centers. The transfer of intellectual property and

the incubator activity that accelerates it may also have recruiting power among high achiever students as well as highly desirable faculty. TC

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