Consolidating and centralizing functions
Of course, for such a foundation to be successful, it must be structured carefully. This is crucial because if the IP is still owned by each individual school, it will be too easy for the big campuses (or even a smaller campus that hits the royalty revenue jackpot) to pull out and keep all of their royalty revenue rather than leverage it via the foundation to support services for all the campuses.One option in establishing such a foundation is to leverage an existing organization that is focused on entrepreneurial business innovation and economic advancement, either broadly or in a specific industry area.Another example is the MSU Innovation Center (Michigan State University), which offers several grants as well as tech transfer services via MSU Technologies, entrepreneurial assistance through Spartan Innovations, and business development under MSU Business CONNECT.Indeed, the number of examples goes on: All of these organizations are tied to a single campus.This struck me as a great example of the value provided by foundations that reside outside of the state university structure and own/manage the institution’s intellectual property (IP).Several state universities have implemented foundations to manage their technology transfer programs, entrepreneurship support, and more.An interesting conversation developed in the GAIN group — check it out here.
To learn more about Templates, see: Create a template.
This is also an ideal time to set up your template with Excel tables.
There are two ways to consolidate data: by Category or by Position.
A centralized foundation could provide that infrastructure for the few inventions that do emerge.
The foundation could also consolidate resources for entrepreneurs — keeping the best-in-class programs going while repurposing the funding that was supporting duplicative and/or less effective programs.