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Team:Arizona State E/Methodology
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| - | Even though success stories are rare and few, the facilitation of an idea to market relies on three components that can greatly increase the speed and likelihood of success. This three-component approach relies on industrial resources, public resources, and university resources. The industry can contribute funding and expertise and knowledge in the area. The public can contribute cash to make it more attractive to venture capitalists. As a result, venture capitalists do not have to bear all of the risk. The university can contribute research facilities and highly skilled personnel. These relationships create a network and foundation for success. Public and university ties can counteract common causes of failures through mentoring and partnering opportunities. Improving academic and industrial partnerships can speed up the translation from academia to industry. Licensing is a potential partnership to reduce the amount of intensive research needed by the industry and the financial burden on the researchers. The figure below demonstrates how this intertwined relationship contribute to the conception of the idea and eventually, capturing a share of the market</html><sup>[http://www.rcuk.ac.uk/Publications/reports/Pages/syntheticbiologyroadmap.aspx]</sup>< | + | Even though success stories are rare and few, the facilitation of an idea to market relies on three components that can greatly increase the speed and likelihood of success. This three-component approach relies on industrial resources, public resources, and university resources. The industry can contribute funding and expertise and knowledge in the area. The public can contribute cash to make it more attractive to venture capitalists. As a result, venture capitalists do not have to bear all of the risk. The university can contribute research facilities and highly skilled personnel. These relationships create a network and foundation for success. Public and university ties can counteract common causes of failures through mentoring and partnering opportunities. Improving academic and industrial partnerships can speed up the translation from academia to industry. Licensing is a potential partnership to reduce the amount of intensive research needed by the industry and the financial burden on the researchers. The figure below demonstrates how this intertwined relationship contribute to the conception of the idea and eventually, capturing a share of the market</html><sup>[http://www.rcuk.ac.uk/Publications/reports/Pages/syntheticbiologyroadmap.aspx]</sup><html>. |
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Revision as of 23:24, 23 October 2012
Even though success stories are rare and few, the facilitation of an idea to market relies on three components that can greatly increase the speed and likelihood of success. This three-component approach relies on industrial resources, public resources, and university resources. The industry can contribute funding and expertise and knowledge in the area. The public can contribute cash to make it more attractive to venture capitalists. As a result, venture capitalists do not have to bear all of the risk. The university can contribute research facilities and highly skilled personnel. These relationships create a network and foundation for success. Public and university ties can counteract common causes of failures through mentoring and partnering opportunities. Improving academic and industrial partnerships can speed up the translation from academia to industry. Licensing is a potential partnership to reduce the amount of intensive research needed by the industry and the financial burden on the researchers. The figure below demonstrates how this intertwined relationship contribute to the conception of the idea and eventually, capturing a share of the market[http://www.rcuk.ac.uk/Publications/reports/Pages/syntheticbiologyroadmap.aspx].
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