A major element of the mission of West Virginia University (WVU) is to contribute to the growth and diversification of the State’s economy through research. This involves the development, protection, and commercialization of innovative technologies developed by faculty and students. In late 1999, WVU began proactively building the infrastructure for linking the research enterprise to economic development by creating the Office of Technology Transfer.
Office of Technology Transfer
The Office of Technology Transfer (OTT) is responsible for managing the University’s intellectual property portfolio; it tracks, develops, and facilitates invention disclosures, patents, copyrights and trademarks, license agreements, start-up companies, and a host of other agreements – working to maximize the value of the technology for researchers, departments and colleges, and the overall WVU research effort. The OTT director is a former company CEO and experienced entrepreneur. The four license associates have all passed the patent bar exam. Three of the associates have law degrees and the other a PhD in aerospace engineering.
Benchmarking indicates that our technology transfer activities are within, and in some cases exceed, the national norms for such activities at similar land grant institutions that began offices of technology transfer several years before WVU. The current intellectual property (IP) portfolio includes:
- 54 patents issued to WVU faculty
- 48 license agreements negotiated
- 14 start-up companies formed
Approximately 75% of the IP and associated activities have occurred within the past four years.
WVU Business Incubator
Established in 2004, the Business Incubator is another component of the infrastructure and means through which the WVU research enterprise enhances economic development. Managed and operated by the OTT, the Incubator provides the environment, resources, and entrepreneurial spirit to nurture and maximize the growth potential for small start-up businesses. Business plan development, marketing strategies, and information technology support are just a few of the services provided to Incubator tenants.
Strength in leadership, knowledge, and the diverse experience of its employees benefits the Incubator and its tenants. These and other successful strategies have led to the rapid success of the Incubator – which is near operating capacity with thirteen tenants.
“LocusTM,” from the WVU Office of Technology Transfer will provide features on some of the innovations and research conducted at WVU as well as information about tenants of the Business Incubator. I hope you find the newsletter informative and that it will provide insight into the many innovative and progressive things happening here at West Virginia University.
Footnote: Both the Office of Technology Transfer and the WVU Business Incubator have been generously supported by the Claude Worthington Benedum Foundation and the WVU Research Corporation.
Written by Dr. John D. Weete, President of West Virgninia University Research Corporation and Vice President for Research and Economic Development
Posted by Matt Livengood on January 4, 2007 at 2:37 pm in the following categories: Technology Transfer, WVUBI
