An innovation ecosystem’s ability to assemble, coordinate, and support the necessary components for technology transfer — R&D funding, infrastructure, and capital — has a direct bearing on the success of universities in the development and commercialization of promising research. Since the process for bringing new technologies to market can take more than a decade, progress requires a sustained commitment on the part of many stakeholders. To promote an environment that supports innovation and entrepreneurship at universities, it is crucial to understand the interrelated steps in the university-supported technology transfer process.
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