FOR IMMEDIATE RELEASE March 23, 2015
Media Contact: Clare LaFond: 206-616-9540-office / 206-953-8532-cell /
University of Washington introduces pre-packaged IP to optimize industry sponsored research
UW’s new Washington Innovation Advantage program allows companies to pay fixed cost upfront for licensing potential intellectual property
In an effort to make it easier for businesses to partner with the University of Washington in transforming discoveries into innovative solutions, the UW is launching a new “pre-packaged” intellectual property (IP) program for sponsored research.
The program, called the Washington Innovation Advantage, allows industrial sponsors and UW researchers to opt into set financial terms for non-exclusive or exclusive commercial licenses to intellectual property upfront, at the time the sponsorship agreement is negotiated. By providing companies with a convenient and cost-effective means to license intellectual property before a project begins, this new program streamlines execution of sponsored project agreements, reduces financial uncertainty for sponsors, and minimizes the time spent on licensing negotiations. The Washington Innovation Advantage program aims to increase transparency and reduce barriers to industry research engagements with the University.
“This is an opportunity to make it easier for potential partners outside of UW – local companies as well as those in other regions, states and countries – to engage and do business with us,” said UW Vice Provost for Innovation Vikram Jandhyala.
With this new pre-packaged IP program, companies pay a fixed percentage of the project cost for an exclusive worldwide license to any IP that is developed on their funded project. A royalty of one percent applies if net product sales exceed $20 million. Businesses can ensure patent filings associated with the technology developed during the research project meet their strategic goals, and are free to sublicense at any time. The program also offers an option for a non-exclusive commercial license to project IP for a lower cost.
“Our research institutions are engines of economic growth in the state, yet there remain opportunities to find new models for transferring technology and research to commercial viability,” said Brian Bonlender, director of the Washington State Department of Commerce. “This pre-packaged program offers a clear, no-hassle mechanism for companies to collaborate with UW and quickly take the resulting innovations into the marketplace to generate job-creating activities.”
By allowing companies to pay an upfront, pre-determined cost for an exclusive or non-exclusive commercial license to use potential IP, they can bypass negotiation of IP terms in sponsored research agreements.
“Growing our partnerships with industry is a top priority for the College of Engineering,” said Michael Bragg, Frank & Julie Jungers Dean of Engineering at UW. “Engineering’s impact is greatest when lab breakthroughs enter the marketplace and when industrial challenges motivate our research. Offering a pre-packaged IP option to companies is a tangible demonstration of UW’s commitment to expanding and improving industry engagement.”
While the UW College of Engineering’s interest in partnering with industry was a key driver of the Washington Innovation Advantage program, Jandhyala said other UW schools are equally excited about the new program’s potential.
About CoMotion
As one of the leading recipients of federal funding for research, the University of Washington is producing innovations that have the power to change the world—from biofuel alternatives, to more effective treatments for Alzheimer’s disease and brain cancer, to purification technology for drinking water in the developing world. CoMotion is the UW’s collaborative innovation hub. Through close partnerships across campus and the community, CoMotion works with innovation leaders to grow successful programs that leverage the cross-disciplinary expertise of UW faculty, staff and students. A national leader in university technology transfer, CoMotion offers expertise in models for distribution, in managing software and digital assets, in IP planning and protection, and in licenses and negotiation. With partners across the UW and throughout Seattle, CoMotion provides UW researchers with an excellent environment for starting new technology companies. By promoting entrepreneurial thinking, innovation mindsets, creative problem-solving, and experiential, team-based project learning, CoMotion delivers the tools and connections the UW community needs to accelerate the impact of UW innovations and to grow local and global innovation ecosystems.
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