Fundamental research is the primary building block for technology-based and knowledge-based industries. To develop and support these industries, creative ideas must make the transition from research labs to companies, where they can be developed into products.
Total federal R&D expenditures in the Commonwealth's academic and nonprofit research institutions exceed $4.5 billion annually. More than 30 active technology transfer offices in Massachusetts universities, research
hospitals, and nonprofit research institutes support the commercialization of research for the public good.
The Center enhances this process by implementing programs aimed at increasing the quantity and quality of new technologies transferred, educating researchers on entrepreneurship and the technology commercialization process, and bringing together researchers, company executives and professional financiers to learn about new technological advances. These programs support new companies and strengthen the technology lead of the Commonwealth's existing companies.
The Center focuses on research areas in which Massachusetts is nationally recognized for research leadership.
Recognizing the importance of exploiting the $4.5 billion spent on basic research at the universities, research institutions and research hospitals in the state, Governor Mitt Romney and the Massachusetts legislature created and funded the Massachusetts Technology Transfer Center in 2003.
The Center works closely with other programs also funded through the 2003 Economic Stimulus Bill, including the Massachusetts Technology Collaborative, the John Adams Innovation Institute, the Massachusetts Technology Development Corporation and the Trust Fund.
The Center provides services to support the work of the Commonwealth's technology transfer offices with Massachusetts-based companies and investors.
The Center facilitates the activities of all technology transfer offices in the Commonwealth by providing services to support their work with Massachusetts-based companies and investors.
If an institution does not have a formal technology transfer office, the Center will assist with the validation of markets for new technologies and support the development of commercialization plans for these technologies. In addition, the Center can help these institutions identify consultants or companies that will undertake the licensing work.
"Our recent study on technology leadership in Massachusetts identified the need to create more technology-connecting activities between R&D and industry in the state. We are confident that the Massachusetts Technology Transfer Center will become a major strength in supporting the creation of additional links between our research institutions and our companies."Bill Guenther
"The University of Massachusetts is proud to host the Massachusetts Technology Transfer Center. The state's selection of UMass to host the Center reflects the University's strengths and successes in technology transfer. We look forward to the Center's valuable role in helping both UMass and all research universities in the region fulfill this part of our missions."Jack M. Wilson
"Venture capitalists have limited access to universities and their developing technologies. The Massachusetts Technology Transfer Center can bridge this gap, giving us more exposure to exciting technologies being developed in our local research institutes."Rana K. Gupta