Technology transfer rotates around the act of directing the development or stream of technology, plans, information, models, creations, materials, programming, and so forth. From the company or individual that owns it to another company or individual.
Additionally, technology can switch roles. Technology transfer is about bringing technology to life and shaping it, according to the real-world definition.
It refers to the process of making products out of the research institute’s inventions and beginning the commercialization process. In general, it refers to the systematic transfer of technical knowledge in the form of designs, databases, prototypes, material requirements, and idealized software from one institution to another.
What exactly is technology transfer?
The specialized technique for offering a restrictive item plan to an organization for commercialization comprises technology transfer.
In almost every industry, technology transfer is an essential tool. We meet the needs of essential industries, such as software, pharmaceuticals, and agricultural products, as well as artificial intelligence and other technologies.
After the product leaves the company where it was created and enters the market, it becomes commercialized. The fundamental idea of intellectual property is included in this. It occurs when the creator of a technology obtains a license to commercialize it for the benefit of society by patenting the rights to that design.
Universities, governments, and businesses can share technology informally, formally, publicly, or secretively across geopolitical borders.
Technology transfer methods include:
1. Horizontal technology transfer:
It has to do with how technology transfers from one region to another.
2. Transfer of technology vertically:
It has to do with how technology transfers from applied research centers to research and development departments.
Technology transfer mechanism:
A company or corporate Technology Transfer Office (TTO, “Tech Transfer,” or “TechX Fer”) is tasked with analyzing research about potential business interests and strategies and locating methods for utilizing that research.
Therefore, the OTT will present specific practical processes and commercial value if the research serves scientific and commercial interests. This is because patents are typically only issued for actual procedures.
For commercial exploitation research, the process of technology transfer may involve licensing agreements, joint ventures, partnerships, and the sharing of risks and rewards so that new technologies can reach the market.
The OTT Technology Transfer Office’s activities include:
- TTO works with lawyers to safeguard licenses and other protected technology freedoms.
- Specialists in technology transfer evaluate new inventions’ commercial potential.
- Professionals in technology transfer promote existing technology to potential licensees and partners.
- Researchers are taught marketing principles and techniques by TTO.
- TTO helps teachers start and grow new businesses.
- Early-stage research and start-ups receive funding from technology transfer specialists.
- The process of negotiating license agreements and associations is part of technology transfer.
- TTO will hold a competition for startups and business plans.
- Technology ecosystems and support structures that encourage technology and economic development are made possible by technology transfer.
- Business involvement is encouraged in ways that bring these technologies and technologies to market because the TTO is involved in the creation of programs that encourage both students and faculty to innovate in labs and maker spaces.
The fundamentals of technology transfer:
The following are the fundamental tenets upon which the idea of technology transfer is based:
1. Information about technology:
One of the most vital phases in the relocation cycle is to make imaginative technology in any case. Before submitting a new technology design, it is always recommended to check with the parent organization.
2. Assessment of the technical disclosure:
Following the acquisition of intellectual property rights for product design technology, conducting market analysis is an essential step. We can answer questions about similar products on the market, the best people to hire, and potential investors through market research.
3. Criteria for patents:
The necessary license for a designer’s creativity is a patent. This serves as a deal with the states to make it possible for invented designs to be sold. The creator gets this patent as a money-related installment from the buyer of the plan.
This provides the inventor with protection from competing products on the market with similar designs and the theft of the creative license. The portion of the transfer that takes the longest is this.
4. Participation from the sector:
Keeping the technology for ourselves and establishing an organization or licensing it to business partners are always in conflict.
In terms of future investment in new projects and expert supervision to promote the scientific progress of the businesses with which we collaborate, the latter’s involvement with the industry has numerous advantages.
In general, the technology transfer process is the most important support for society’s research needs because of certain best practices.
We assist individuals, universities, and other institutions in putting the process into action. Today, technology is used to measure any economy’s growth rate.
As a result, the scale of development increases in proportion to the amount of money invested in profitable product discovery, technology, and design.
Also Read:- What is Technology Competence?