Are Universities Underestimating the Economic Impact of Academic Research?

IU researchers David B. Audretsch and Taylor Aldridge argue that universities are underestimating the number of start-up companies that have formed to market university research by as much as 30 percent.

Professor Audretsch, a distinguished professor at the School of Public and Environmental Affairs (SPEA) at Indiana University Bloomington and director of the Institute for Development Strategies, and Aldridge, a research fellow at the Institute, focused their research on scientists who received patents from research funded by the National Cancer Institute.

They found that the work of as many as 30 percent of these professors found its way to market without the assistance of their universities’ technology transfer offices.

Why do university researchers bypass their technology transfer offices? The reasons that Audretsch and Aldridge cite include:

• The different approaches required to market an invention versus a discovery
• Some universities lack the technology transfer resources to effectively serve faculty
• A university culture that does not place economic development among its core missions

University research is vital to creating the local and regional companies that will help Indiana and the nation thrive in the 21st century. If you’re an IU researcher with a promising discovery, we urge you to contact the Indiana University Research and Technology Corporation to explore your options.