University of Missouri

University Communications

Spectrum

Volume 33, Number 4, August 2006

Research foundation to help move UM inventions to marketplace

With the establishment of a new research foundation, the University of Missouri aims to improve its ability to form start-up companies from University technologies. At its July 21 meeting in Kansas City, the University of Missouri Board of Curators authorized President Elson S. Floyd to establish a University-affiliated, non-profit foundation.

The process of technology transfer, or moving technologies from the University to the marketplace, is currently administered through a network of decentralized offices on each campus. Central policy, legal, accounting and database support is provided by the system.

When faculty members disclose their inventions to the University, there are three potential outcomes: 1) ownership is waived by the University and returned to the faculty member; 2) the intellectual property is protected, marketed, and a licensing agreement occurs with an existing firm; or 3) the new technology creates the opportunity for a new business.

The research foundation comes into play with the third outcome. The University has reached a point where a foundation is needed to “focus its attention on nurturing those ideas that can become a business,” said John Gardner, UM Vice President for Research and Economic Development.

The foundation’s purpose is to encourage and potentially sponsor University scientific investigations, in cooperation with the private sector, to establish new firms that utilize University research.

“The foundation is one more tool to help the University spawn businesses as well as technologies,” Gardner said. It also could prove to be a valuable tool in stimulating Missouri’s economic growth.

In addition, the foundation will identify and manage any risks and conflict of interests that may occur between the University’s economic development mission and that of teaching, research and service.

The foundation also would pursue research, development and marketing in those instances where it would be in the best interest of the University not to be involved on a daily basis, such as in some international business.

Governance and oversight will be provided by a board, with the UM President serving as chair. The Vice President for Research and Economic Development will act as the operating officer.

Any proceeds from the foundation would be dedicated to further supporting the research and economic development mission of the University.

“Combined with a community of interested and willing investors, professionals, and management expertise, the University of Missouri is stepping up to help create an innovation-based economy for Missouri’s future,” Gardner said.

Previous | August 2006 Index | Next