Indiana University (IU) yesterday announced it is expanding and restructuring its research commercialisation resources.
Previously handled by Indiana University Research and Technology Corporation (IURTC), the tech transfer activities will be moved into the Office of the Vice-President for Research effective tomorrow.
The office’s responsibilities include the full-fledged efforts of a TTO, such as receiving and vetting invention disclosures, applying for intellectual property protection and licensing technologies.
The aim of the reorganisation is to bring the tech transfer staff closer to faculty and to better align the office’s responsibilities with the university’s wider mission. The move will also give the TTO access to more resources.
IURTC will also launch a new investment fund aimed at spinouts. The fund, and its size, are expected to be officially announced later this summer, but the university is reportedly targeting a close of more than $10m.
Technology commercialisation directors, managers and operations personnel who previously worked for IURTC will remain with the office, which will retain its current locations in Bloomington and Indianapolis.
The TTO will gain four additional staff, with some existing staff being promoted.
Bill Brizzard, currently director of technology commercialisation in Bloomington, has been appointed executive director, while David Wilhite will remain as director of technology commercialisation in Indianapolis.
Simon Atkinson, associate vice-president for research and vice chancellor for research at Indiana University-Purdue University Indianapolis, will oversee technology transfer and licensing and corporate development within the research office.
IURTC started out as the Advanced Research and Technology Institute in 1997, before morphing into IURTC in 2007. To date, the non-profit commercialisation arm of IU has received some 2,900 disclosures, filed more than 4,300 patents and generated nearly $138m in licensing and related income.
Fred Cate, vice-president for research at IU, said: “Our goal is to ensure that IU provides a seamless array of research and innovation services, including attracting the very best faculty, staff and students; supporting their efforts to earn support through competitive grants and foundation and corporate support; ensuring effective compliance with legal requirements; identifying, protecting and licensing intellectual property; and supporting startup companies that involve IU colleagues or intellectual property.
“We could not be better served than by the talented professionals whose skill and dedication have contributed to record-breaking results. I am delighted to welcome them to IU and to the research team.”
