Universities and research centres conduct a great deal of research which often lead to ground-breaking inventions that not only save lives, but also enhance the standard of living. Innovation and Commercialisation Centre (ICC) functions to relay the discoveries established by universities and research centres to the industry for commercialisation.
Commercialisation is the process of technology transfer which plays a big part in bringing these ideas from the lab to the market. Government and private organisations provide funding that supports the critical research from which new discoveries are brought about. ICC performs to protect these discoveries and create partnership to help the intellectual properties and assets to be developed into new products. There are many challenges and steps.
Multiple methods are available in which these university innovations can be commercialised. The decision factors in determining the method of commercialisation include the availability of potential industry partners, interest in entrepreneurship, and the market-readiness of the innovation. Some innovations are capable of inspiring the creation of new spin-off companies. These companies serve in turning ideas into products that would have huge impacts in improving lives, creating jobs, and supporting new research discoveries.
UTM provides underpinning platforms for researchers to become successful techno-preneurs. This is made possible through the 4th generation incubation programmes, establishment of the comprehensive academia-entrepreneurial friendly policies, and collaborations with the key players in technology marketing and commercialisation in Malaysia. By developing the 4th IR Technovation Valley, UTM will become a leading hub and start-up/spin-off ecosystem for high-tech innovation and commercialisation.