Have you ever wondered what really powers the success of tech transfer offices at universities? It’s not just the groundbreaking research or innovative technologies—it’s the relationships behind the scenes.

In today’s episode, we’re highlighting the importance of cultivating strong relationships with faculty members. These connections not only facilitate technology disclosures but also significantly boost the marketing reach and appeal of research to industry partners.

Joining us to shed light on this topic is David McClure, the Managing Director of Licensing at the Office of Research Commercialization, Texas Tech University System. David brings a wealth of experience and insight into why fostering strong faculty relationships is essential for the success of a tech transfer office.

We’ll be discussing effective strategies for initiating and maintaining engagement with faculty, the challenges and nuances of making tough decisions about researchers' inventions, and the best communication practices for managing expectations. Plus, we’ll explore how relationship-building can be seamlessly integrated into these efforts.

In This Episode:

[01:21] The importance of strong relationships with faculty for tech transfer success. We have to create a system of mutual trust where each of us will do our respective jobs.

[02:27] No invention has ever been licensed without the full support of the researcher. The feedback is very important for success.

[04:03] The key is communication. When an invention disclosure comes in it gets assigned to a licensee manager and they carry it through until a license is negotiated. Making the process transparent and showing every step to a faculty member along the way.

[05:21] They make decisions on new inventions in 60 days, but they try to do it in 30 days.

[06:48] Outsourcing assessments to a third party makes the researchers feel like everyone's on the same team.

[08:45] Maintaining engagement is important. They get a list of new faculty hires. They give them a visit and ask what they are interested in and establish a relationship from day one.

[13:42] Communicating every step along the way is an effective communication strategy. Showing your work and letting the researchers know what you're doing on their behalf is very helpful.

[15:02] They also use LinkedIn as a success story communication tool.

[19:48] They make it easy and affordable for faculty members to license their technology. The industry appreciates customer validation.

[21:03] It takes years to get a patent issued and to take a technology to market. It's a long process where you should take as many shots as possible. David and his team preach patience to new faculty members. They also use colleague examples to demonstrate the process.

[22:52] The role of training and professional development in preparing TTO staff and faculty for successful collaboration and commercialization. David tries to get them plugged into the ecosystem as quickly as possible.

[27:21] How strong faculty relationships impact the overall success and growth of a tech transfer office in the long term.

[28:12] Advice for tech transfer professionals includes critical management and building a portfolio over time. Start small and build over time. Show your work. Be patient.

Resources:

David McClure Texas Tech University

David McClure LinkedIn

We are focusing on innovation, organizational growth, and the commercialization of emerging technologies with a very special guest, Pam Henderson, a renowned author, entrepreneur, CEO, and expert in business and innovation strategy.

As the founder of NewEdge, a growth strategy firm, Pam leads the charge in identifying and anchoring growth opportunities. Her extensive experience spans both academia and industry, with her work featured in prestigious outlets like the Wall Street Journal, Harvard Business Review, and NPR.

This is a wonderful episode for anyone with an entrepreneurial mindset. We learn how Pam’s academic work eventually led to her establishing NewEdge. She also developed the opportunity thinking approach, which involves getting clear on how ideas will serve the market. We learn about defining what an opportunity is and more about turning an idea into a strategic business opportunity.

In This Episode:

[01:29] Pam's journey from academia to founding NewEdge. She began as a professor for Carnegie Mellon. She was invited to help commercialize early stage technologies which eventually led to Pam founding NewEdge.

[03:03] Pam developed the opportunity thinking approach. A lot of ideas don't land in the market. Getting clear on how our ideas will serve the market leads to better ideas.

[04:32] Defining opportunity first increases the odds for success. We get excited about ideas, but defining the broader opportunity gives us ideas about what will actually work.

[05:22] You have to define what an opportunity is.

[07:06] Get clear on the need, way to create value, and conditions.

[08:38] Opportunity Thinking™ taps into six sources: market forces, business models, technology, organizations, environments, and design. Before the iPod, there were digital ways of gathering up music.

[09:33] Apple created a business model that allowed us to get singular songs as opposed to entire albums. The larger opportunity was to build out the success of these different sources.

[10:53] Sometimes we need to take a step back and go slow to go fast. Look at the opportunity and then build the technologies accordingly.

[11:27] Pam shares an example of an innovation partnership that led to cooling shirts made from coconut polymer fibers.

[15:25] Harley-Davidson's first electric vehicle. Staying true to the opportunity leads to bigger ideas in the market.

[17:16] We learn about the voice of the ecosystem.

[20:07] Common strategies companies face when trying to implement opportunity thinking and how to overcome them.

[22:43] People confuse risk aversion with uncertainty aversion. We can work on uncertainty aversion by getting people more familiar with opportunities.

[24:15] Pam talks about the importance of culture. Working on culture is one of the things that has made her the most proud in her organization.

[25:06] A consultant really helped them identify their values. Make your values interesting and true to who you are. They love people who are driven and continually improving. Other values include team first and grounded provocateurs. Teachable trust builders or being a teacher and a learner at all times.

[28:46] Co-innovation is one of the emerging trends companies should take notice of. Companies are going to need to collaborate more to make big changes.

Resources:

Pam Henderson NewEdge

NewEdge

Pam Henderson LinkedIn

Killing Ideas - You can kill an idea, you can't kill an opportunity