01/23/2014 02:25 PM
BATON ROUGE – In order to better advance innovation arising from university research,
LSU will adopt a new approach to commercialization and technology transfer, based
on the recommendations of the President’s Committee on Technology Transfer, or PCTT.
“With 10 campuses across the state, including a tier-1 research institution, two medical
schools, an agricultural center, and a biomedical research center, our research has
the potential to truly impact economic development in the state and make a difference
for people around the nation and the world,” said LSU President and Chancellor F.
King Alexander. “I’m grateful to the members of our committee for lending their time
and expertise to help LSU enhance its ability to move the results of our research
out from behind university gates and into the marketplace.”
The new approach is based upon a new shared-services partnership with the LSU System
Research and Technology Foundation for centralized administrative support functions
enhancing both productivity and cost-savings while allowing each campus to manage
its own operations. The budget for this partnership is expected to replace what the
campuses currently spend on external legal fees each year, and will be shared according
to a formula based upon each campus’ relative proportion of LSU’s total annual research
expenditures. The Office of the President and Chancellor will also contribute funds
to assist the transition during its first year.
This new approach will be strengthened by the launch of a new proof-of-concept funding
program, the LSU LIFT, or Leveraging Innovation for Technology Transfer, Fund. The
LSU LIFT Fund will provide support for commercialization of faculty intellectual property
– support difficult to come by through traditional means. Providing a bridge over
the critical gap between basic research and commercialization, the LSU LIFT fund would
– if approved by the Board of Supervisors – provide grants to faculty on a competitive
basis twice a year, in amounts up to $50,000, to validate the market potential of
their inventions. The Board will consider a recommendation to permanently sustain
the LSU LIFT Fund by allocating 5 percent of all future licensing income directly
to the fund.
“Building a robust pipeline for bringing new technology to the marketplace is critical
for creating an innovation economy. As a key component of that effort, BRAC has long
supported improving the process of technology transfer and commercialization at LSU,”
said BRAC President and CEO Adam Knapp. “The recommendation of the LIFT fund, in particular,
illustrates LSU’s commitment to supporting faculty inventors during the earliest phases
of an idea. We applaud Dr. Alexander's leading change in this area, and look forward
to further developments under his leadership to improve performance.”
Finally, other recommendations of the PCTT include the adoption of a shared mission
statement emphasizing high-quality faculty service and effective, efficient commercialization
practices for economic impact and public benefit, and the revision of pertinent regulations
and policies to streamline and clarify the management of intellectual property through
technology transfer at LSU.
“Our committee was charged with the task of improving LSU’s technology transfer processes
across all campuses, and upon implementation, our recommendations will do just that,”
said Arthur Cooper, PCTT chair and CEO of the LSU System Research & Technology Foundation.
“We’re excited to see the impact these changes will have on innovation coming out
of LSU, and hope the Board of Supervisors agree with our recommendations.”
Other PCTT committee members include:
A full report on the technology transfer recommendations provided by the PCTT will
be discussed during the Board of Supervisors meeting on Jan. 31, when it considers
the recommended changes to its regulations and the creation of the LSU LIFT Fund.
The President’s Committee on Technology Transfer was convened by Alexander after the
Transition Advisory Team identified technology transfer as a key component critical
to the mission of reshaping LSU’s research enterprise.
To read the full report, visit http://www.lsusystem.edu/docs/agenda/2014/20140131TechnlogyTransferReport.pdf.
Posted on Thursday, January 23, 2014