Commercialization of Life-Science Research at Universities in the United States, Japan and China

Through studies of six universities in the US, Japan, and China, we have identified current challenges experienced by actors involved in commercialization of life science research, along with efforts being implemented to overcome those challenges. A number of challenges were found to be generic: • Lack of seed-financing and human resources • Creating and maintaining top-quality science • Engaging commercial actors early in the processes • Policymakers focus on the structure - rather than the content - of activities, and expect quick returns on investments • University managers are unclear about priorities and goals regarding technology transfer • Informational and cultural barriers exist between universities and companies (lack of trust and respect) • Conflicting goals at universities, including insufficient rewards and/or negative impacts for researchers who participate in commercialization processes This study highlights the need to consider a number of mechanisms collectively in order to design policies that will help create opportunities for economic growth through increased commercialization of university research. As seen in other countries, and as predicted by scholars, changing a single factor (such as ownership of intellectual property) is not likely to be a magic bullet. The complexity of these processes demands a strategic plan with a long-term view. One contribution of this study is a proposal for a framework: "Policy issues for commercialization of university research." This framework, which emerged through the analysis, brings forth three key issues for policymakers to consider for commercialization processes to work: • Critical Mass of Diverse Range of Actors: There must be a diverse range of institutional actors involved, who can contribute a variety of information, as well as depth and breadth of experience. • Efficient Transfer Channels: There must be time- and cost-effective ways of transferring university research to commercial actors so that development can continue. • Interaction: There must be links between university researchers and commercial actors that enable opportunity-recognition and successful development of research results. The framework is used to discuss the Swedish situation. As a first step toward a strategic plan, we present competitive advantages, challenges and related policy implications that Sweden appears to have in each of the three policy domains with regards to commercialization of life science research