As a leader in the technology transfer space, Tekcapital was consulted in a recent Huffington Post article about the need for innovation in Fortune 500 companies. The article discussed how critical and difficult it is to be innovative in the modern market, even though research is increasing at an unprecedented rate. The truth is that the traditional models of internal, closed innovation are breaking down in favor of globally-minded IP acquisition methods. Companies are not really sure where there next big thing is going to come from anymore.
The article suggests that there only a few sources of the valuable external innovation that companies need to stay competitive. Two of the options they mention, corporate accelerators and innovation by acquisition, are both described as inefficient and unfruitful. And since we know in-house research efforts are no longer sufficient on their own, what does that leave? The article points to the great potential of university intellectual property (UIP). UIP is now easily accessible to businesses, unlike before when individual relationships had to be made with university tech transfer offices. Now, a business can simply use UIP services like Tekcapital’s IP search app and Invention Discovery reports to find and harness potent university research.
Huffington Post asked us how companies can meet the quickening pace of innovation–and we answered “UIP.” Internal research efforts are simply not enough anymore. Now that innovation is occurring on a much more rapid, global scale, those who are tapped into the university network will be poised for success going forward. Companies that don’t pursue the immeasurable knowledge found in university research are severely limiting themselves, disconnecting themselves from a burgeoning world of high-caliber technology produced by academic experts. It is clear that in the Information Age, both internal originality and external IP are needed to keep a business relevant and profitable.
Use Tekcapital’s Invention Discovery reports to find the innovations your company needs to stay competitive. Sourced from our network of 4,500+ universities worldwide, and screened by our panel of 50 science advisors, these reports are a streamlined service designed to deliver you the most relevant UIP opportunities for your business.