In May 2019, the Lieutenant Governor challenged the Inter-University Council of Ohio (IUC) to establish a best in class process for how universities cultivate the licensing of intellectual property (IP) developed by Ohio public universities in order to strengthen Ohio''s economy, attract innovative researchers and serve as a magnet for investors and entrepreneurs.
The IUC convened representatives from the 14 Ohio public university technology transfer offices. Under the leadership of The Ohio State University and the University of Cincinnati, this group engaged faculty, research officers, entrepreneurs, investors and attorneys to gain insights into their needs and ideas. The approach included:
With this knowledge and under the leadership of Ohio State and the University of Cincinnati, the state’s universities aligned on the following guiding principles that serve as a foundation for the Ohio IP Promise.
The Ohio IP Promise has unified Ohio’s public universities to provide a clear path for faculty and entrepreneurs interested in pursuing entrepreneurial and commercial ventures. The universities will prominently display on their technology transfer or research websites the following resources:
The Ohio IP Promise helps ensure that Ohio’s public universities are competitive when it comes to the transfer of university discoveries to the commercial sector and benefits all stakeholders in the entrepreneurial ecosystem.
Ohio public universities commit to further streamlining their processes, driving transparency and speed to support commercialization of Ohio innovations. With a focus on continuous improvement, universities will develop aligned metrics, annual measurement processes and establish common reporting mechanisms.
This initiative fosters a climate where innovation thrives through partnerships among universities, researchers, entrepreneurs, investors and industry. With improved collaboration, high-impact discoveries made at Ohio universities will go to market more quickly, boosting Ohio’s economy and improving its residents’ lives with new products and services.