Technological incubators could be located near institutions of higher learning where researchers can work hand in hand with the budding entrepreneurs at the incubators.
The practices incubators can utilise to promote technology licensing and commercialisation include:
Overcoming cultural impediments – This involves recognising cultural differences between research institutions, technologists, entrepreneurs, and businesses, and building forums, policies, and procedures for overcoming them. It is crucial to recognise that conflicts of interest cannot be avoided but can be managed.
Providing financial incentives – Grants work on the national level to promote technology commercialisation by entrepreneurial companies – and thus achieve a better return on the investment in these technologies. On the local or regional level, commercialisation grants can be just as effective.
Organising to promote seamless interface – Incubators and their host institutions are best served by co-locating technology licensing and commercialisation functions, or ensuring that they report to the same individual.
Developing comprehensive support for commercialisation – These involve developing expertise in business incubation and in strategic partnerships, licensing, equity participation, deal making, and all the other components of transforming technologies into companies.
Azione’s role in supporting a successful academia/industry-engaged incubator:
- We help expand the expertise of incubator-affiliated volunteers and staff in all aspects of technology application and company development
- We help increase the return on investment to the host research institution and bind incubation more solidly to the economic development and research missions of the host institution
- We help increase the prestige of the incubator as an engine for developing technology infrastructures and entrepreneurial economies
Considering that high-tech industry has always been based on the development of overseas markets, mainly because of the limited size of local markets, our emphasis is typically closely aligned where the incubators’ interest is in export-oriented production. Products graduated should sell worldwide or to international large firms.