KUALA LUMPUR, Jan 26 ― The importance of technology transfer to the growth and survival of public and private organisations has become evident in recent years.
Institutions such as universities, research institutes, and corporations have been paying close attention to the resources and capabilities that they will need to compete in markets.
But it is still unclear to most organisations what skills are needed from the individuals who are responsible for the various activities and context of technology transfer. So, this article will introduce the required skills for technology transfer professionals and how can we address that need.
Intellectual property has come to the centre of attention in every economy around the world. Universities are the centre of creating new inventions from many basic and applied researches that they perform every day.
Technology transfer plays a critical role in transferring those inventions to the market in order to create products that will benefit our daily lives. The profession of technology transfer has progressed over the years and is steadily becoming one of the most attractive professional tracks for scientists, engineers, lawyers, and marketing professionals.
However, this is not typically a choice people actively make in the early stages of their career. It is a choice they are only aware of later in their career.
Therefore, it is important to create the awareness of the importance of the career opportunities and what are the necessary knowledge and skills to be learned and acquired.
What is the tech transfer process?
Referring to the Association of University Technology Managers (AUTM), technology transfer is the process of transferring scientific findings from one organisation to another for the purpose of furthering development and commercialisation.
Alternatively, according to World Intellectual Property Organization (WIPO), tech transfer is a transfer of technology that includes the processes for sharing ideas, knowledge, technology and skills with another individual or institution (for example, a company, a university or a governmental body) as well as an acquisition of ideas, knowledge, technologies and skills.
WIPO iterates further that in the context of transferring technologies from the public sector and universities to the private sector, the term “transfer of technology” is sometimes used in a narrower sense, such as a synonym of “technology commercialisation” whereby basic scientific research outcomes from universities and public research institutions are applied to practical, commercial products for the market by private companies.
Technology transfer process typically includes:
― Identifying new technologies through invention disclosures
― Protecting technologies through patent, copyright, trademark, industrial design, layout design, and geographical indication
― Formulating development and commercialisation strategies such as marketing and licensing to existing private sector companies or creating new start-up companies based on the technology
― Technology or knowledge is transferred and commercialised to bring value as anticipated
Why should you join tech transfer?
According to the Ohio State University, here are some of the reasons why you should join tech transfer:
― Be part of the innovation economy
Today we live in the innovation economy, having shifted from a manufacturing economy and resource-led economy. The technologies that universities create become the basis of the innovative products that are saving lives, making our lives better in so many ways.
― Join a dynamic, multidiscipline profession
Technology transfer is not just licensing. In fact, that is just one aspect of technology transfer. There are many fields such as patent law, finance, accounting, compliance, negotiation and operations that make up the overall profession of technology transfer.
Start-up companies form a significant part of the industry these days, where entrepreneurs and CEOs are significantly involved in the day-to-day operations.
A lot of them engage experienced venture capital groups and angel investors as part of the overall team that evaluates, plans and executes the start-up business.
There were instances where some of the professionals from technology transfer offices (TTO) have joined a start-up that was formed at a university.
Working in a TTO enriches one professionally as you are exposed to the various functions within the office that are working in the same team. In many ways, it is like working in a start-up operation that is fast-paced and dynamic.
Other skills like negotiation skills are also something that you get to practise every day as a licensing professional.
― A launchpad for your next career
Learning the various aspects of business deal-making, capital raising and start-up operations create the opportunity to move onto the next bigger thing. Whether it is becoming the director of a company or joining the tech transfer industry, there are various options that are suitable for a well-trained TTO professional.
― Make an impact and be in the news!
We generally believe that people should not only work for a living and that a profession should ideally provide meaningful work that impacts the lives of others. Working at a TTO could give you the satisfaction as you would be making a tangible impact to other people’s lives by getting that technology to market.
― A new profession that is growing rapidly
The reason why you may have not heard of technology transfer as a profession is simply because it is a rather new profession. In fact, technology transfer and TTO came into existence in the 1980s in US and only up to recently in Malaysia about 10 years ago.
The evolution of TTO as a strategic part of a university is quite recent as well. Tech transfer is a rapidly growing profession across the US and Europe as well as in Malaysia.
Getting into any industry in its early days has its benefits. The technology transfer industry will become mature in a few years especially when many companies are reducing their corporate R&D budget and are looking outside of their boundaries for new technologies.
― Get paid well, while making a difference!
Most people want to get paid well while making a difference. In technology transfer it is possible do exactly just that if we put our heart and mind into it.
What are the necessary skills for tech transfer?
Based on our own experience in PlaTCOM Ventures and many studies in this field, in order to be able to handle tech transfer, technology transfer offices have emphasised the importance of hard skills for technology transfer professionals, such as intellectual property rights and technology-specific domain knowledge and expertise.
Soft and business skills are important as well including communication, networking, negotiation, commercial awareness and new business development. In short, technical, business and legal are important skills that are required to be a meaningful and well-rounded technology transfer professional.
What is PlaTCOM PERINTIS™ Programme?
PlaTCOM is offering a four-week internship programme, upon realising the need for a technology transfer manager to gain knowledge and hands-on experience in order to perform their duties in respective institutions. This programme will include:
― 1st Phase: Instructional phase (1st week) that provides the framework of technology transfer, such as, basics of invention evaluation, intellectual property protection, funding and commercialisation/licensing strategies.
― 2nd Phase: Assignment phase (3rd week), each intern is paired with a commercialisation specialist in the PlaTCOM office to apply those skills to help identify, evaluate, and commercialise real-world inventions
The programme will expose the interns to a unique blend of disciplines and a variety of projects that a technology transfer officer might face each day.
The programme is an excellent opportunity for a young executive to explore a career that requires broad scientific expertise, business insight, and legal acumen to convert basic research into practical applications.
For more information, please contact PlaTCOM Ventures Sdn Bhd at [email protected]
* Muhammad Lofty Abd Karim is Assistant Vice President-Commercialisation Specialist at PlaTCOM Ventures Sdn Bhd.
