Commercialization of Research

Research regimes constitute the building blocks of innovation, especially in the sciences. Scientific and technical research drives helpful and often trailblazing approaches to the resolution of many problems affecting the human condition. Yet, the record of commercialization of such research is mixed across the globe. While many countries and institutions in those countries are convinced that connecting researchers to markets (and thus initiating a concern with outcomes of research) is a strong driver of economic growth, too often such efforts fail to institute processes to assure that the fruits of such research are more broadly disseminated. Often, they seem to adopt straight-line approaches to markets that, in a globalized environment, are sub-optimal. The preoccupation with “venture capital” is often used as a strategy without a grounded understanding of the limitations of this and other, similar approaches. Instead, a “network-centric” approach involving partners, buyers, and adopters of “open innovation” assures a more holistic approach to the commercialization of research and more useful (and usable) outcomes in a world that more connected now, despite the divisions that are evident. This network-centric approach emphasizes the growth of enterprises more suited to the notion of commercialization as a ‘long and winding road’, while maintaining a continued connection (“feedback loop”) with research efforts. This session will explore aspects of this approach which has generated strong results as typified by the work of Larta Institute in the U.S. over two decades.