Commercialization
The university technology transfer process typically leads to one of four outcomes for a given invention: licensing, industry partnership for sponsored research, business startup, or additional non-sponsored research. The Office of Innovation & Economic Development works with inventors to continue supporting the development of the invention in each of these four pathways. The Office of Innovation & Economic Development and the Vice Provost of Research are responsible for making the final decision in determining which pathway is best suited for each invention. The Office of Innovation & Economic Development works with the Office of General Counsel to negotiate all agreements on behalf of the inventor.
Licensing
Licensing is the most common outcome for inventions that are commercially advanced at academic institutions, and licensing is typically a good fit for any invention that improves upon an existing product or process. Licensing agreements give an existing company permission to use Baylor intellectual property to develop a product or process in exchange for a share of the financial return from the license. Per the Baylor Intellectual Property Policy, inventors are entitled to a share of this financial return after Baylor recoups the initial investment made to protect and find a commercial licensee for the invention. The Office of Innovation & Economic Development selects licensees by assessing the likelihood that the licensee will be able to commercialize the invention. After an agreement is reached with a licensee, the inventor may still need to be available to provide scientific expertise as commercialization efforts are being made by the licensee.
Industry Partnership (Sponsored Research)
Industry sponsored research can also advance inventions towards commercialization. In this scenario, an industry partner invests time and resources to improve the commercial readiness of an invention alongside the inventor. Industry partners are motivated to fund early-stage university research with the goal of advancing the university invention to a stage that is licensable by the company. Industry partnerships are common in the pharmaceutical space where new drugs need extensive resources to reach a stage of development that is licensable.
Business Startup
The Office of Innovation & Economic Development may decide with the inventor to form a startup business around an invention. Startup businesses are typically formed around well-developed inventions that have broad-reaching applications. Baylor has numerous resources and facilities designed to facilitate the movement of inventions from university research to the broader market. The primary space for this work is the Baylor Research and Innovation Collaborative (BRIC), a 330,000-square-foot facility with spaces optimized for research and advanced prototyping including both wet and dry labs.
Additional Research
The Office of Innovation & Economic Development may decide through conversations with the inventor and potential industry licensees or partners that the invention needs further development in the lab before pursuing commercialization. If an invention is not developed enough to be granted a nonprovisional patent, the inventor may need to collect additional data before pursuing commercialization. If industry sponsored research is not available for the invention, the Office of Innovation & Economic Development can assist inventors in finding relevant grant funding from programs specifically targeted to generate funds for innovation.