University-industry partnerships are an increasingly important part of successful academic research, as are university spin-offs. Spin-off are firms formed by university faculty, students or postdocs, usually based on a university license of intellectual property. University spin-offs may also be startups that are engaged in joint research projects with a university.
In recent years, university technology transfer offices (TTOs) face increasing pressure. There are a multitude of activities they are responsible for, including:
- Relationship management
- Business development
- IP management & strategy
- Support services – including startup support and business counsel
Promoting university spin-offs have the ability to demonstrate impact and economic benefit while also benefiting the university in terms of improving image, reputation, culture and financial gain.
Here are five ways that startups benefit the university:
1. Increase public benefit
2. Create economic opportunity
3. Recruit and maintain faculty
4. Professional & financial gains for TTO & faculty
5. Create new partnership & funding opportunities
Interested in connecting with industry partners? Join seedsprint and promote your institution’s research for free.