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University research: Commercializing our scientific knowledge

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Universities are important to our country’s innovation and economic growth. They are both centres of research excellence and suppliers of a highly educated work force. In recent years, the transfer of knowledge and technology from university to industry has primarily taken two paths: licensing the intellectual property of researchers, and creating spin-off firms.

In 2003, Canadian universities and their affiliated research hospitals earned $55.5 million in income from intellectual property, held $52.4 million worth of equity in publicly traded spin-off companies, generated 1,133 invention disclosures and were issued 347 patents. Canada’s universities and research hospitals held 3,047 national and international patents. Income from intellectual property has more than doubled since 1999, indicating strong growth in commercialization in only four years.

By 2003, universities and hospitals had created 876 spin-off companies in a wide range of industries, including computer systems design, engineering, and medical device manufacturing. In addition, 3,000 firms indicated that technology acquired from a Canadian university had played a major role in their inception or growth. Technology licensed from Canadian hospitals played a similar key role for 1,930 firms.

Once patented, the benefits of inventions, ideas and creations can then be shared with the university that originated them. Commercializing this intellectual property also ensures that inventors and their institutions share in the benefits of their work. The Canadian public enjoys the social and economic benefits as well—if the company licensing the technology is home grown, then it is more likely that the financial benefits will also stay in Canada.