Promotion of Technology Commercialization and Local Economy Development by Non-Research-Intensive Universities
In the last 25 years, the research conducted in universities, hospitals, and research institutions has resulted in the creation of over 4500 new companies based on the licenses obtained from these institutions. In the same period, there has been a 1500 percent increase in the number of patents granted to universities. These achievements have been primarily at research universities and research institutions, and have not been enjoyed by the overwhelming majority of educational institutions that are not research-intensive. This paper examines technology commercialization activities at non-research-intensive universities and recommends means by which they can generate more intellectual property in a cost-effective manner. These universities can increase financial opportunities for themselves and their communities and can be more effective in job creation and local economic development by adopting policies that are different from those of their research-intensive counterparts. They can use their resources more creatively to promote creation of intellectual property, faculty entrepreneurship, and interdisciplinary cooperation among faculty