Washington University in St. Louis launches new platform to help accelerate translation of innovations from university to marketplace.
Washington University in St. Louis has launched a new tool to help the institution get intellectual property out of the university and into businesses faster.
Called Quick Start License, the new programme aims to simplify the technology transfer process so faculty can focus on development, commercialisation, and seeking funding. Agreements made using Quick Start License will not require upfront payments, past patent costs, annual fees, milestone payments, or minimum annual royalties.
Holden Thorp, provost at St. Louis, said: “We have on our campuses creative, innovative minds coming up with ideas that can impact some of the world’s toughest problems. As a university, we must ensure our community has the support it needs to get the important knowledge and technologies created at the university into the hands of those who need it most. The Quick Start License is a direct response to our market and campus needs. Investors — and the broader innovation and entrepreneurship community —want improved access to our research and technologies. And we need to provide opportunities to make this happen.”