The Innovation Commons is commercial ‘space in common', where Queen's technologies, entrepreneurs, business consultants and investors collaborative to explore business opportunities.
We are committed to finding the best licensee for the technology – a business that will dedicate resources (time, money, and people) to developing the technology. In addition, because inventors are often affiliated with a potential licensee, either as a consultant, board member, founder, or otherwise, we must be particularly conscious of conflict-of-interest issues.
How does the Commercial Development team market my inventions ? We use many sources and employ various strategies to identify potential licensees and tomarket inventions. Sometimes existing relationships of the inventors, the Commercial Development team and other researchers are useful in marketing an invention. Market research can also assist in identifying prospective licensees.
A review of licensing agreements revealed that many licensees were already known to the inventors. Thus, research and consulting relationships are often valuable sources for identifying licensees. Licensees are also identified through existing relationships of the Commercial Development team. We attempt to broaden these relationships through networking, market research, industry events, and the cultivation of existing licensing partnerships.
It can take months and sometimes years to identify a potential licensee, depending on the attractiveness of the invention and the size and intensity of the market. It is often challenging to attract a potential licensee because most Queen’s inventions tend to be in the early stage of the development cycle and require substantial investment to bring them fully to market.
Your active involvement and enthusiasm can dramatically improve the chances of matching an invention to an outside company. Your research and consulting relationships are often helpful in identifying both potential licensee companies and technology champions within those organisations. Once interested companies are identified, the inventor is the best person to describe the details of the invention and its technical advantages. The most successful commercial results are obtained when the inventor alongside the Commercial Development Manager work together as a team to market and promote the technology.
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