Monetization Strategies for Universities and Research Centers

Abstract

For universities and research entities, translational research is both a source of revenue generation as well as a source of academic notoriety. The ultimate downstream purpose of translational research is two fold. First and foremost is that translational research is intended to solve real-world problems via practical application of newly developed or innovative technology. Second, translational research is meant to have commercial value and to generate unrestricted income for the university; either through the development of a marketable product, or through licensing agreements. Monetization of translational research efforts can be highly lucrative. There are a wide variety of ways to generate revenue from research. Furthermore, there are strategic and synergistic business relationships that can be formed between a university or research entity and industry partners or corporate sponsors.