Innovation and knowledge transfer is often a valuable pathway for making leading-edge research relevant to society. Enabling wider groups of people to benefit from the new technologies and innovations derived from University research and development is the primary goal.
Innovation and knowledge transfer is a team sport, requiring the lead researchers buy-in at all stages as part of the dynamic team with a large skill set and expertise. Almost every innovation disclosure that we receive may require further investment and development in order to transfer it to the marketplace. It is important to note that not one innovation will follow the same development path and may take months or years of ongoing management before a commercial deal is achieved.
The commercialisation process has a range of stages, depicted below is an overview of the bluebox commercialisation process. We have put together three examples of potential commercial deals, an example of a partnership involving a research agreement, licensing of Intellectual Property example and an example of a potential start-up company arrangement.
Partnerships - Research agreement
A partnership which contains a research agreement may often be structured as below. Where a Company pays research funds to QUT [via bluebox] for QUT to undertake the agreed research, and QUT owns project IP. bluebox may licence the Project IP to the Company within their field of interest. Company pays bluebox licence fees, royalties, milestone payments etc if IP is commercialised. To ensure the full potential of the IP is realized, bluebox licenses Project IP to companies in other fields, outside of the primary company’s field of interest.
Licence Intellectual Property
QUT may have protected some potentially valuable Intellectual Property where bluebox has entered negotiations with a Company for a licence. An example of a potential licensing deal is depicted below where bluebox grants the Company a licence to exploit the IP. The Company pays bluebox licence fees, royalties, milestone payments etc when IP is used in a commercial product and bluebox distributes net commercial returns to QUT and IP Creators. A potential side benefit of licensing depicted below could be a service provision to the licensee or Research Contract to help take the innovation forward for the licensee.
Start Up Company
The extensive due diligence proves that a start-up may be the best strategy possible to commercialise a particular innovation from QUT (link to FAQ). Below is a possible example of a Start-up company structure. In this particular example bluebox forms “Start up” and grants “Start up” an exclusive licence to commercialise the IP. The “Start up” raises seed funding from investors, shares are issued to bluebox and investors. The “Start up” establishes an employee stock ownership plan and engages key personnel. Additional funds are raised and the “Start Up” continues to develop great products building its business through strategic alliances. The “Start Up” is either acquired or listed on the stock exchange. bluebox sells shares and distributes net commercial returns to QUT and IP Creators.