Commercialization of early stage university-based inventions

The changing university environment have meant a substantial rise in the rate of commercialization of university-based technologies. This paper presents a theoretical analysis of technology transfer process as perceived by different stakeholders in the innovation lifecycle. Data is collected using semi-structured interviews with inventors, technology transfer personnel, patent attorneys, consultants and investors. Secondly, the secondary patent and market data was utilized for the selected case. This paper uses a case of Lappeenranta University of Technology (LUT) and its ongoing activities to accelerate the commercialization process. The study takes one potential university-based inventions - Micro Organic Rankine Cycle energy converter - for deeper examination. The results contribute to a better understanding of successful technology transfer process and the potential challenges in the commercialization of early stage technologies.