In the 2012-13 budget, Ohio public institutions of higher education gained expanded ability to hold equity in inventions developed by faculty members. Governor John Kasich freed faculty members and colleges to benefit financially from their innovations.
The idea of Commercialization is to go from research to invention disclosure to patent to licensing or startup company as quickly as possible. Ohio needs to increase the innovation infrastructure and make sure research is being utilized.
The Board of Regents has established a task force that will identify the best practices and make recommendations to our colleges and universities on how to best transform commercialization practices and take advantage of the commercialization provision in the budget.
The Transfer Technology and Commercialization Task Force is charged with developing a statewide commercialization ecosystem that creates jobs in Ohio by effectively and efficiently moving higher education to commercialized application in order to create new businesses, attract new businesses, and expand existing businesses. The Commercialization Task Force is chaired by Regent Vinny Gupta and the Regents’ Commercialization Subcommittee members Regent James Tuschman and Regent James Patterson.
The task force will create formal recommendations for inclusion in the Board’s Conditions Report specifically regarding how to support Ohio’s economic recovery and growth through increased commercialization activities, primarily within the eight areas of technology opportunity for advancement and application recommended in a recent Battelle report prepared for the Ohio Third Frontier. The task force has organized its work around six separate commercialization sectors which are:
Over the next several weeks, each focus sector is convening public forums around the State with the goal of producing a set of recommendations by mid-April for how higher education can be a more efficient and effective partner in supporting, accelerating and driving commercialization of new technologies in Ohio.