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June 30, 2010

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Great post. Will be sure to integrate this into our NBER Rate and Direction of Inventive Activity paper.

Absolutely on target post. The institution that needs to change most to help bring us out of the current economic situation is the most resistant to change whether we talk about commercialization,education or business model. Creators of great theory but lousy at application.

Cultured and fine manners are everywhere a passport to regard.what do you think?

It's too bad none of the Congressman or Senators will see this. A well laid-out response to the establishment's reactions.

The Mitchell and Litan proposal could be a step in the right direction, although I haven't met a single TTO employee who likes the idea. My inner pessimist wonders whether any of the institutions with the highest density of inventions per NSF/NIH dollar would do anything differently should the proposal be implemented.

Many years ago the endowments at a number of top universities transitioned from conservative, risk-free strategies managed by non-professionals to management by professionals and investment in a wide variety of asset classes and strategies. The cultural impediments to this transition were much the same as those to a transition in how tech transfer is done. We should be encouraged that a transition did take place. But we should also learn from the history there. I have my doubts as to whether innovation at the margins will persuade the top institutions to follow suit. Rather, one of the top institutions will have to lead the pack by making changes within, and demonstrating how those changes can result in more job creation, a better serve to inventors and investors, a better bargain for stakeholders all around.

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