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→Valdivia: University Start-ups: Critical for Improving Technology Transfer (2013)
*Current emphasis on licensing patents, but most university TTOs do not generate enough to cover operating expenses
*Asymmetry in distribution of resources across the university system, only a few universities benefit from high licensing revenues
**top 8 universities took 50% of licensing income, top 16 universities took nearly 75% of income
**only 37 universities have been in the top 20 during the last decade (listed in University Patents > LicensingGrossIncome2003-2012.txt)
*Universities face much more pressure to demonstrate the economic impact of their R&D contracts
**97.6% of total public contracts obtained by universities are for basic/applied research
**2% of university research delivers ready-to-use technologies
**academic research is much more dependent on government funding than industry research is
*Government pressure for universities to be more responsive to market forces, more entrepreneurial, more attuned to needs of industry
*TTOs are costly to universities
*1979: 30 universities with TTO -> 1999: 174 universities (AUTM)
*2010: 206 US universities have very high or high research activity, all with TTOs (but not all report to AUTM) (Carnegie Classification of Higher Education)
*over last 20 years, 87% of universities did not break even
*clash between aims of university (non-profit) and TTO (essentially a business unit)
*by nurturing start-ups, TTOs can add most economic value to an invention disclosure
*2003: universities initiated 330 startups, 2012: 647 startups
*2012: 3715 operating university startups, almost double the number in 2000 (AUTM 2013)
*startups mitigate financial risk by reducing reliance on blockbuster patents, increase diversification of portfolio
*policy proposal: the government should increase funding for Small Business Technology Transfer Program (directed to university start-ups)
**H.R.2981: reapportions STTR funds at 0.05% in the next 2 years and 0.1% henceforth for university enterprises at proof of concept stage
*Should increase portion that agencies set aside for STTR
**STTR should have Phase III like SBIR to fund commercialization efforts
=== The Bayh-Dole Act and High-Technology Entrepreneurship in U.S. Universities: Chicken, Egg, or Something Else? (2004) ===
