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Brigham Young University is one of the other universities that has already committed to attending the “speed teching” event. “We have a lot of great technologies that need to be seen by potential investors and industry partners,” says Mike Alder, director of BYU’s Technology Transfer Office. Utah needs forums like this so interested parties can see and participate in our best technology opportunities.” In a related effort, the U is now offering a new type of technology license also designed to advance technologies quickly.
It’s called a “value express license agreement.” These new licenses are much simpler and cheaper than standard agreements.
New ideas require innovative input and direction to move them forward, and that’s exactly what we’re doing.” The U hopes the event will become a critical tool in advancing technologies from research laboratories to the real world for Utah universities.
Faculty members at the U, for example, disclose more than 200 inventions every year, but only a fraction of those technologies are being licensed to startups or established companies.
“The University of Utah is very anxious to play a leading role in economic development for the state,” says Ritchie.Most other university in the state faces a similar challenge.