Philip Simister, PhD
Head of Science and Entrepreneur Advocate, OBN (UK)
Historically, there was more division between academia and industry, but they now collaborate more effectively. University research, especially in life sciences, frequently impacts industrial research and development (R&D).
Industry follows and may assimilate technological and conceptual advances from academic publications, combined with proprietary know-how, to improve industrial R&D workflows.
IP development for societal impact
A natural extension to a key mission of universities — to create and disseminate reliable knowledge — is developing their intellectual property (IP) for broader societal impact. Translating academic research directly into real-world outcomes is patently desirable for industrial investors, yet more recently so for original grant funders (eg. charities, government). This can amplify patient and societal benefits while creating jobs and economic gains for individuals and organisations.
Possible perceived obstacles within academia to technology transfer — such as lack of experience/will/time, limited business understanding or apparent conflict with traditional academic purpose — should be surmountable through education and mentoring to develop better business mindsets and acumen. Many institutes promote such practices, but more widespread adoption is needed.
Translating academic research directly into real-world outcomes is patently desirable for industrial investors, yet more recently so for original grant funders.
Supporting research commercialisation
Multiple mechanisms exist to support UK universities and emerging entrepreneurs in commercialising research and engaging with a well-established industrial ecosystem. The Innovate UK ICURe programme helps academics to evaluate the commercialisation potential of their research.
The University Spin-Out Investment Terms (USIT) guide (TenU, 2023) offers an efficient time- and cost-saving framework for university spin-off creation, allowing adaptability to individual company-building scenarios. Investment firms engage increasingly with research institutes to identify potential IP early. To stimulate entrepreneurship further, grant funding providers could require academics to assess upfront any commercialisation potential of research findings, where relevant.
Beyond the technical aspects of company creation, for example, emerges the more ethereal concept of network-building for success. Clear communication is key to successful collaboration, and building an effective niche for a NewCo within an existing ecosystem requires high, initial effort.
Life sciences organisations’ impact
Life sciences member organisations, including OBN (UK), function as network builders. They help modulate ecosystemic forces impacting spinouts such as by reducing barriers to ecosystem entry and facilitating the rate and effectiveness of business-enhancing interactions. This ‘catalytic’ activity can, ultimately, also save companies time and money.
