Technology transfer is the process of sharing scientific or technological skills, knowledge, and discoveries with another business or individual in order to create new goods, services, or procedures. This can entail the dissemination of information from academic research to business applications or from one organisation to another. Technology transfer aims to encourage collaboration between various companies to create new goods and services as well as innovation and economic growth by making innovative technologies accessible to a larger market.

Malaysia has advanced significantly in recent years in encouraging universities to commercialise cutting-edge technologies. The number of research partnerships between universities and industry has steadily increased, according to the Ministry of Higher Education's most recent report on this topic.

The following are some technology transfer best practises:

• Clearly identify the technology: It's critical to have a succinct characterization of the technology being transferred that outlines both its potential uses and any potential drawbacks.
• Safeguarding intellectual property Be sure that every technology-related intellectual property is suitably shielded through patents, trademarks, or copyrights.
• Determine prospective partners: Find possible partners, such as businesses, investors, or research institutes, who may be interested in licencing or purchasing the technology.
• Create a marketing plan to identify the ideal sector.

The following are some ways in which technology transfer can profit the inventor:

• Financial compensation: The inventor may earn financial compensation in the form of royalties, ownership stakes in the firm that purchases the technology, or licencing agreements.
• Exposure: Technology transfer can raise an inventor's profile and reputation in their field, which may open up more doors for opportunities and partnerships.
• Resources: By collaborations with businesses or academic organisations, the inventor can have access to resources including funding, knowledge, and facilities.

Researchers may choose to commercialize their technology for a variety of reasons, including:

1. Funding: Making a technology commercially viable might give researchers the money they require to carry out their study and come up with fresh concepts.
2. Impact: Researchers can commercialise their ideas and have a tangible influence on society by doing so.
3. Commercializing a technology can aid researchers in getting credit for their work and establishing a name for themselves in the industry.

by

Asrizam Esam
Innovation Promotion and Marketing Section
Putra Science Park (PSP)

Date of Input: 06/04/2023 | Updated: 10/04/2023 | asrizam