An Income Model Using Historical Data, Power-Law Distributions and Monte Carlo Method for University Technology Transfer Offices

Ken Polasko, Pedro Ponce and Arturo Molina
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Ken Polasko: IGF Consulting, 12090 E. Columbine Dr., Scottsdale, AZ 85259, USA
Pedro Ponce: Tecnologico de Monterrey, Writing Lab, TecLabs, Vicerrectoría de Investigación y Transferencia de Tecnología, Monterrey 64849, NL, Mexico
Arturo Molina: Tecnologico de Monterrey, Writing Lab, TecLabs, Vicerrectoría de Investigación y Transferencia de Tecnología, Monterrey 64849, NL, Mexico

Future Internet, 2021, vol. 13, issue 5, 1-11

Abstract: Engineering education pushes the creation of new technology to solve community problems. The process of technology transfer promotes educational innovation in universities, a vital process that can improve citizens’ quality of life in cities and rural communities. As a result, university technology transfer offices (TTOs) have to create strategies that motivate students and researchers to generate technology. Thus, a primary challenge that TTOs face is to know and communicate the income potential compared to their much more predictable and limited expense budgets. Institutional budgeting for a TTO’s growth would be simplified if the office were on a solid financial footing, i.e., breaking even or making a financial return. Many offices assume that income is unpredictable, that it is a lottery, luck, and more stakes in the fire improve the odds of hitting a winner, etc. These common assumptions or beliefs provide only a vague insight into how to move an intellectual property (IP) portfolio strategy forward. How can a TTO be assessed for quantitative value and not just be a cost center adding qualitative value? This paper illustrates the first steps to understanding how to project potential income versus a much more predictable expense budget, which would allow universities to improve their technology transfer strategy and results. As a result, TTOs would operate under a more sustainable IP portfolio strategy, promote educational innovation in universities, and generate a more significant community impact.

Keywords: TTO income modeling; TTO economics; TTO IP portfolio strategy; IP portfolio quality; educational innovation; higher education (search for similar items in EconPapers)
JEL-codes: O3 (search for similar items in EconPapers)
Date: 2021
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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