A plan that proposes a $100-million, five- year pilot federal program to accelerate the commercialization of university-developed technologies was praised by a top White House Office of S&T Policy (OSTP) official last week at a Capitol Hill briefing organized by the Information Technology and Innovation Foundation (ITIF).
The plan is contained in a 14-page white paper, IMPACT: Innovation Model Program for Accelerating the Commercialization of Technologies, prepared by Univ. of Southern California vice provost for innovation Krisztina Holly (also known as ‘Z’). It outlines an initiative that would use federal funding to coax existing university research results into the US commercial marketplace through ten local demonstration sites or centers. Each center would be funded at a level of $2-million per year for five years to “nurture a culture of entrepreneurship within each university, create and enhance the innovation ecosystem around each university, and provide the resources necessary for researchers to effectively translate their ideas into societal impact.”