How to make valuable connections between academia and industry
University of Technology Sydney and Woolcock Institute of Medical Research, Australia.
Industry is a broad term used for everything from spinout companies with 1 employee, to large multinational companies, and how you interact with each needs to be different. Smaller companies often paradoxically have more money to invest in partnerships and projects as they don’t have the capacity inhouse, but they often want their "pound of flesh". Large companies are shrewder with their investments, but generally expect less in return (ie they are more realistic). In this short presentation, I will attempt to cover the question: So what should you do? For example, should you develop the relationship by doing Pro Bono research, quote $500,000 for 6 months work, or just not bother. Do you chase industry or do they come to you? What is that, that you have produced again - the worlds first recombinant monkey TNF? What exactly are you going to do together? I will also talk about barriers to effective interactions, e.g. oops I forgot about IP, I don’t have enough money (institutional overheads).