Monday 25 August 2008

USQ's Commercialisation Framework

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Closely engaged with its communities, the University of Southern Queensland (USQ) is a leader in flexible learning with a significant profile in regionally relevant research.  With their main campus located in Toowoomba, USQ’s primary research priorities are in the areas of community health, agricultural engineering, sustainable catchments and engineered fibre composites.

  

USQ recognised that the intellectual property (IP) created within its various faculties, schools and projects was a potential source of value to the Queensland economy and the broader community.  For this reason, USQ undertook the development of a Commercialisation and Entrepreneurial Framework with the assistance of the AIC.

 

At USQ, “commercialisation” and “entrepreneurship” describe a broad set of activities including:

 

•            the commercial exploitation of IP and the transactional-based sharing or distribution of IP rights

• raising funds from collaborative research
• business development
• income from commercial and technology precincts.

   

The AIC’s Commercialisation and Entrepreneurial Framework is an integrated work flow of commercialisation activities linked to leading practice processes, tools and templates, that provide a practical approach to progressing commercial and entrepreneurial opportunities while managing risk.   

The framework delivers guidance in:

 

• USQ’s approach to commercialisation
• a process and governance for progressing commercial and entrepreneurial activities
• assessing the feasibility of opportunities
• IP valuation
• IP protection
• developing commercialisation models
• implementing the commercial opportunities.

    

USQ can now utilise the framework to maximise value creation from the IP it develops through:  

 

• commercialisation activities aligned with key research focus areas to enhance the market uptake of USQ research
• market intelligence informing USQ’s researchers of particular areas of market need for research development
• advancing USQ’s engagement with the business community, potentially leading to student acquisition, contract research, collaborative grants and consulting opportunities
• generating additional revenue streams for USQ
• enhancing the positioning of USQ as a leading regional university
• contribution to the USQ’s sustainability.

"USQ has used the Commercialisation Framework developed in conjunction with the AIC to structure its IP transfer activities.  It has given us a learning platform, used in academic staff training, as well as a methodology to review our legal and contractual templates, ensuring higher standards of governance and a better chance of commercialisation success".  Gary Brady, Director of Commercialisation, USQ

 

 

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