IAM: TOOL FOR ECONOMIC GROWTH FOR EMERGING ECONOMIES

In countries where technology transfer in the context of industry-university collaboration is an established part of innovative-economic ecosystem, we have observed that effective technology transfer mechanisms have real and quantifiable impact on creating a technology based global competitive advantage for national businesses. This dynamism not only fosters further cutting edge R&D activities but also contributes in a very substantial way to macro economic metrics. Indeed, technology transfer activities seem to impact large corporation strategies as well as SMEs and Universities alike and in one single swoop micro level benefits are transformed into national benefits: wealth creation, job creation and sustainable innovation based economic ecosystem.

As the business world is embracing open innovation with the heretofore internalized main R&D activities of technology intensive companies being outsourced to SMEs with specialized knowledge, universities and research institutions technology transfer is gaining new grounds. In addition, with the increase of cross border collaborations new countries are finding an opportunity to find themselves a place on the map of technology producing countries with niche applications. Thus technology producing companies and institutions in emerging nations should be, at least technically, able to compete with their counterparts in countries with a more established technology, innovation and technology transfer culture.

However, what any technology transfer/licensing professional operating either within an emerging economy or often works with one, notices very quickly is that creating or having the ability to create cutting technology and applications is not sufficient to create a viable technology transfer ecosystem with a focus on maximizing and managing intellectual assets.  In addition to experienced licensing professionals who can engage their foreign counterparts on equal professional terms emerging countries also need look internally and improve industry-university collaboration in order to transform basic research into applied research, and early stage technologies into commercially applicable technologies. In order to shift from traditional capital/efficiency based economy into information based economy, it is crucial that emerging economies learn to maintain and control the “value added” effects of technological innovation, create, manage and maximize intellectual assets and promote licensing activities.

In order to foster technology transfer, emerging economies must foster technology transfer within the country by promoting efficient industry-university cooperation, in doing so focus should be given to SMEs. SMEs tend to be the main engine of a sustainable economy and there is data that suggests that a strong SME ecosystem will reduce the impact of global economic crisis as we have seen very recently. In addition, it is also suggested an intellectual asset maximization focused technology transfer policies are efficient tools to manage economic crises.

Thus, IAM should not only a tool to be embraced by large corporations but also by SMEs and University technology offices.

Very often a SMEs most valuable and probably underutilized asset is its IP portfolio along with the technical know how that makes the implementation of the said IP possible. While it may appear that the SME is properly utilizing its intellectual asset portfolio as its core business is likely to be centred around it. The experience shows that most SMEs lack the experience to leverage its IA as a tool of maximization and risk management. A simple strategic partnership via a basic licensing operation will have a relatively early impact on the company’s cash flow thus allowing SME to negotiate better terms in the event financing is sought in the form of risk capital and arguably positively impact the company’s IPO further down the road.

IAM for universities and research institutions is a bit of a different animal but the same principles apply. IAM at Universities should be the topic of another discussion but IAM at Universities will start from properly managing IP disclosures and implementing patenting decisions with a commercial outlook to managing universities often underutilized or simply ignored assets such the substantial know how of its faculty (and students) and other IP such as copyrights (not related to software) and its reputation. A university abounds with potential business ideas and licensing opportunities beyond the faculties of science and engineering that university technology transfer professionals traditionally focus on. An IAM professional will have to keep a close eye on the seemingly unrelated academic activities of the university to identify potential areas of synergy and opportunities while building a strong network of industrial contacts for more turn of the mill licensing activities.

As we have seen above and in the context of this article, a properly managed university technology transfer office with a IAM focus will lead to important industry university collaborations that should lead to technology transfer deals.  Looking at Turkey, I propose that universities are a great place to built awareness on IAM and technology transfer for the benefit of the national ecosystem as a whole. If Turkish universities willingly embrace this role, their critical role as an engine of economic growth will be undeniable.