Commercialisation is the process of introducing a new product or production method to the market place, with the intention of creating commercial success and a positive impact for the benefit of wider society. Commercialisation is broken into phases, from the initial discovery of a new idea to its mass production and adoption.
Most commonly, this is achievedthroughan agreement in which Queen's grants to a third party a licence to use Queen's Intellectual Property (IP) in a specific technology. Effectively this rents the IP to another party to undertake the commercialisation. A licence may be limited to a specific type of use, a particular industry sector, and/or for a defined country or geographic region. It may be exclusive or non-exclusive. The third party(the licensee) may be an established company, a start-up or a new Queen's spin-out company. The licence agreement will include conditions that allow Queen's to receive financial payment or to share in the revenue generated from the use of the IP. Revenue received by Queen's in relation to these agreements is shared with the inventors and their respective Faculties.
Once initial contact is made with the Commercial Development team, a member will be in touch to help progress your idea. The overall timeframe from disclosing invention through to licensing may take months, or even years. The amount of time depends on the development stage of the technology, the market for the technology, competing technologies, the amount of work needed to bring a new concept to the marketplace, and the resources of the licensee. University technologies are often at too early a stage to attract immediate external investment, and therefore timescales are often lengthened compared to commercial settings. However, Queen's is one of the leading universities in the UK for commercialising research and we can use our experience and knowledge to navigate the commercialisation process as quickly as possible.
IP allows innovations to be treated as an asset in the same way that physical property can.Ownership of intellectual property
7.6m Annual income from IP commercialisationLicence agreements
We are committed to finding the best licensee for the technologyMarket validation
Research and Enterprise supports research commercialisation across the University. Our activities include:
Evaluate promising ideas generated by faculty staff;
Protect the inventions by securing IP rights;
Identify and secure funding to support translational activities;
Market innovations to secure external entrepreneurs and/or commercial partners;
Negotiate licence and other agreements with a bearing on IP commercialisation;
Support the development of spin-out companies with strategic guidance, mentoring, office space and access to seed capital.
Commercialisation begins with the quality of the original research and the technical ability of the Principal Investigator (PI) and their research team. As an inventor you can play an active role in commercialising your research by:
Queen's University Belfast is committed to Equality, Diversity and Inclusion.
For more information please read our Equality and Diversity Policy.
Queen's University Belfast is registered with the Charity Commission for Northern Ireland NIC101788
VAT registration number: GB 254 7995 11