Technology commercialization primer

Published on October 31, 2016   36 min

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Hello, my name is Dr. Eugene Buff, and I'm a Founder and President of Primary Care Innovation Consulting. I work a lot with technologies in innovative companies. And today, I would like to talk about Technology Commercialization.
As a former academician, I always try to start with defining what exactly are we talking about, and if you look around and try to Google terms, there are a lot of different interpretations of different terms. So let's set up the stage so that we know what we are talking about here. And in that sense, I usually define technology very, very broadly. As you can see those quotes from Webster and Encyclopedia Britannica, on one hand, it is basically the whole totality of the means to do something useful for people. On the other hand, the technology is also application of scientific knowledge. So again, this is something very, very fundamental. So one is it does results from the scientific and technical research, and studies, and then to be really technology and not just the science paper, it needs to be useful and needs to be used for human sustenance and comfort. And the second term, which is basically going parallel with the word technology commercialization is technology transfer. And what people usually mean by technology transfer is of taken that technology, that's been discovered and developed up to a certain point within the research institution or university and make it actually accessible by the users, by consumers to make this discovery useful. And there is a big issue of how we determine the effectiveness of technology transfer because there are obviously much more things that had been discovered in science, the things that we see on the shelves in the store.