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That federal government funding of basic research has been held at steady levels or is only slightly increasing is now a fact of life. Researchers in turn have had to become increasingly creative in seeking funding. Unrelated with this trend, industry research and development has also undergone profound changes. Facing expiration of key patents and thinning product pipelines, companies to a large part have turned to academic research collaborations, licensing, and investment in startups arising from academic research. Also, companies now not only offer capital for these early-stage companies but can also provideaccess to a wealth of market, discovery, and development expertise. Often these investments and relationships and can lead to additional investments by private equity firms.
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Many collaborations between companies and academic researchers are initiated byindustry scientists or industry scouts looking for specific technologies or expertise. Companies constantly scan the literature for the latest on their market areas. However, there is no need to waitfor industry to come knocking at your door. There are several ways to connect with industry.
In some cases, the commercialization of the results of your work may appropriately be moved forward in a new startup venture:
HLTH.co is one of these events – with corporates, government, and investors for all stages, all sizes of innovations and businesses. To promote your discoveries – go to https://hlth.co/hlth-academic-discoveries/.In summary, whether you are seeking sponsored research funding for your research program or funding for a new venture, there are several key elements to keep in mind:
Dr. Joe Jilka is a biotech entrepreneur who is passionate about the interface between the university and industry. He frequently consults with brand new startups to help them off the starting line and is available for consulting in this space.
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