SEB Bulletin July 2005
It's The Bizz
Richard Taylor, Technology Transfer Manager
Science, as we know, is all about making new discoveries, but are you the type of scientist who keeps an eye on the potential applications of your research? Do you wonder about the commercial viability of your results and look beyond the pure aspects of your discoveries? If so, and if you have a head for business, technology transfer (or intellectual property management) might be a career worth considering seriously.
So what exactly is technology transfer? “One simple way to define technology transfer is the commercialisation of inventions”, says Richard Taylor who works in the Research and Development Centre at Bristol University. “In a university environment, however, we are also interested in transferring the technology out into the community more widely to encourage the development of new inventions that benefit the wider community”.
It transpires that the word 'invention' is a very loose term and can mean any number of things such as a new technology, a potential new drug, a cell line, a methodology, screening techniques, genomics, a diagnostic test or even an idea which may need further work up. As a biologist (with a degree in microbiology and PhD in genetics and biochemistry) Richard is very much involved in technologies arising from the biology related departments such as biological sciences, medicine, dentistry, and even chemistry. “The job is often more reactive than proactive”, says Richard. “But we do try to encourage and promote commercial awareness to academics such that they keep any enterprise opportunities in mind. We do this through our own marketing and seminars and through heads of departments and academics who act as designated enterprise leaders within the departments.
Richard's job means he has his feet in two camps: one with the university and academics, who are working at the cutting edge of science; the other in the commercial world where new inventions might be developed further into marketable and useable products. Richard needs to identify companies (mainly biotechnology and pharmaceutical companies) or venture capitalists who might be interested in taking a technology (often a potential new drug) further as well as negotiating terms and agreements with them. “Normally we 'licence' rather than 'sell' the whole technology outright to a company”, says Richard. “In this way we can set our own terms by which the company may develop and utilise the technology as well as retaining ownership”. These terms may include setting a time limit within which a company must have progressed a drug, for example, to prevent them from 'sitting on it'. The university will expect a financial return at each stage of a drug's development as well as royalties. This even allows for the possibility of sending the drug to more than one company, where one investigates its potential as a cancer treatment, for example, whilst another looks at its cardiovascular effects.
In some circumstances it is more advantageous for a university to set up its own company to develop a new technology. This could be because there is no existing company that has the expertise and will to develop something that is brand new. These are called 'spin-out' companies of which Richard says Bristol sets up about 4 - 5 per year. In this case a manager is put in place (sometimes the senior academic) and the technology is developed much further, sometimes even right through to the point of selling. The success of the new business is reliant on continuing financial input which does not come from the government or the university but from venture capitalists with whom Richard negotiates to convince them to invest.
Before joining the university Richard gained six years experience in technology transfer working for GlaxoSmithKline, where he was responsible for identifying technologies and drugs for the company and negotiating the required deal. His background in laboratories at SmithKline Beecham and then technical support in Biotechnology production served him well in obtaining this role. “The job involved working in a team and communicating with a wide range of people such as regulators, suppliers and quality control. This helped me to advance my skills, but I had always had an interest in the applied side of science and its commercialisation.”
This is what is required if you are keen to take up a career in technology transfer: you need to be commercially astute and to know what is required to take a product and develop it further. You will also need to be able to work well in a team and to manage multiple projects (sometimes up to 20 at a time). If you are currently working in a university you will find that there are various initiatives which encourage scientists into enterprise such as enterprise courses and business plan competitions. This will help to improve your CV and to give evidence of your interest in the commercial world. If, however, you want to commit more time, effort (and money) you could undertake a course such as an MBA, MSc in entrepeneurship or project management. The Medici Fellowship provides funding for one year's experience in a technology transfer office based in one of the Midlands universities such as Birmingham and Warwick.
Once you get into the technology transfer business you'll find that you can be a 'jack of all trades' like Richard and take on a number of roles within this complex sector or you could specialise into any number of different areas within it such as: scientific evaluation, seeking commercial opportunities, patenting and negotiating deals. Because of the specialisation required for this work the career structure tends to be flat with everyone working in their own specified areas of expertise. And, of course, there are opportunities for moving on by setting up as an independent consultant or moving into the City to work as an investment analyst.
Richard sums up by saying, “If you think you have the potential to turn complex projects into successful deals it may be worth investing your future into this business”.
Sarah Blackford
Education & Public Affairs
