Factors for Successful Commercialisation of University Research by Technology Transfer Offices: A New Zealand Perspective

Abstract

Traditionally universities strive to achieve their two core missions, research and education. However another mission, commercialisation, has emerged over recent decades. This third mission enables knowledge to be transferred out of the university with a commercial orientation, in order to provide a range of social and economic benefits to society. This led to the introduction of technology transfer offices (TTOs) that sit on the interface between university and industry and conduct commercial activities on behalf of the university. Extensive literature surrounds TTOs including factors that influence university technology transfer (UTT) and success. However, most of these studies are conducted in countries other than New Zealand and thus the technology transfer literature lacks a New Zealand perspective. This research investigated factors that influence successful commercialisation by TTOs in New Zealand and strategies implemented to address such factors. An explorative qualitative approach was used and data was collected through the implementation of semi-structured interviews on seven New Zealand TTO directors. Data analysis led to three primary findings. Firstly, factors that negatively influence successful commercialisation stem from two of the triple helix stakeholders, industry and university. It was suggested that the two most emphasised barriers, lack of funding and poor industry engagement, were caused by the lack of scale of the New Zealand ecosystem. Secondly, all TTO directors defined success as the ability to get a project to a ‘deal ready’ stage and then concluding a deal. Additionally they reported several success factors as well as metrics used to measure success. Thirdly, strategies implemented to address the reported influencing factors target three core areas: resources, reputation and relationships. The results of this research contribute to the academic conversation by providing a New Zealand perspective to current UTT literature and thus reducing speculation about the technology transfer space in New Zealand. Practical implications of this research include informing policy makers and/or strategists of the key areas that influence TTO directors, in order to target and promote effective technology transfer in New Zealand. This study also provides a basis for future research in the following areas. For example, investigating factors that influence other stakeholders such as academics or industry leaders may help form a more comprehensive understanding of UTT in New Zealand. Secondly, further research into success measures may help develop a success matrix for the evaluation of New Zealand UTT.