Tim Rowe, president of the Cambridge Innovation Center (CIC) during the Fifth All-Russia Innovation Convention set a discussion on how Russian universities should commercialize their R&D
The head of the CIC sparked a discussion during the Convention, addressing a long time dispute in Russia on which part of universities’ research budgets should be spent on pure, or fundamental science, “science for science the sake” VS. share of commercial technologies, created specifically for needs of corporations, existing only when there is a paid demand for them in place.
“The best practice for US universities is to set numerical targets for the value that is created by its R&D in private sector”, Rowe said. He noted that in average American universities tend to spent as low as 2.5 percent. But some schools, such as MIT in Boston or Columbia in New-York increase this share to up to 50 percent.
“Meaning if they invest, let’s say $100 million in research, they expect that some $ 50 million will come back to them through licensing”, the CIC president
“Meaning if they invest, let’s say $100 million in research, they expect that some $ 50 million will come back to them through licensing”,
the CIC president
Establish numerical target I s first step, the next one is to formalize the system that pushes their technology to the market, he suggested. Rowe is convinced that big Russian universities, such as Moscow State (MGU), for example, should open sales offices for their R&D to push technologies to the market, just like the MIT did it.
Addressing young people, students and innovators, who were the main audience of the Convention, Rowe said the money shouldn’t be the main driving force for the young person to start the business. “It’s about passion, it’s kind of religion, the money comes later,” he said.
The Cambridge Innovation Center is one of the biggest and well-known business-incubators in the Boston Area. Built in 1999, its located not far from the MIT campus.