Research commercialisation refers to the process of introducing to market a new product or production method resulting from academic research. However, commercialisation often encompasses all uses of research that can generate a financial return for the researchers and their institution.
See below for examples of different types of commercial outputs that might be relevant for your research and who to approach for support.
University support in the area of commercialization is provided by the office of the DVC, RISP and is typically focused on the protection of intellectual property (IP) arising from the research, and the generation of revenues and profits through the licensing of this IP to commercial organisations or by the creation of spin-out companies.
Commercialisation which can also be indirect has four common characteristics (see below), and commercialisation in Arts & Humanities and Social Science disciplines is more likely to fall under this category.
- Research outputs are generally difficult to protect with a patent;
- Research outputs generate both direct financial returns (i.e. those arising from the sale of products or access to research data) as well as indirect ones (e.g. those deriving from the increased exposure and raised profile of the researchers and the institution);
- Non-financial indicators (such as wanting to achieve research impact, strategic partnerships, prestige etc.) often have more influence on the decision to bring the research to market than considerations about profitability, financial scalability or sustainability;
Research outputs generate financial returns from commercial or non-commercial environments, thus encompassing the non-competitive provision of services to public sector or non-profit organisations.
Our central IP development and commercialisation team work with our academics and external contacts to develop the University’s intellectual property (IP) to obtain impact from our work, often through a commercial return.
Successful outcomes from the commercialisation/IP development process can be a licence to third parties, the spin-out of a new company or use of our IP to generate new business partnerships or research income. If any research results in a spin out company or a commercial deal then the University undertakes to reward its inventors through a standard distribution as advised by the office of the DVC, RISP.
For further information regarding Patenting and Commercialisation, please contact the office of the DVC, RISP, University of Ibadan and someone will always be happy to give you advice.