7 Technology Transfer Officer Tips For Tough Economic Times

There is no doubt that these are tough economic times. Unemployment is high and credit is tight. Key indicates show that is the worse economy in a generation. Many technology transfer offices have seen potential business partners reduce their innovation portfolios and expenditures. This coupled with a reduction in funding sources, from grants and investors to university sources are blowing the technology transfer research commercialization efforts into the perfect storm.

There are difficulties and challenges, but these times also create opportunities. Here are seven tips to help your technology transfer office succeed in these tough economic times.

1. Maintain a list of problems that are relevant to the research and technologies in the pipeline.

Technology transfer offices typically get involved in research commercialization efforts late in the research and testing process. Get involved earlier in the process and start developing a list of problems of which the research can be applied.

This is really an early brainstorming exercise. Don’t just talk to the researchers. Get business input from those who are not involved with the research or the research teams. Independent ideas can be worth their weight in gold.

2. Develop long-term business relationships.

”Dig the well before you are thirsty.”
-Chinese Proverb

Start developing business relationships with business leaders from a wide range of industries. Do this even before you have any applicable research or solutions for them. These relationships will pay off in two ways.

? You will have a better understanding of the types of challenges that these businesses face.
? When you do have promising research technologies and solutions you already have a relationship with the business or their contacts.

3. Pair researchers with business mentors.

Researchers think like researchers. Business people think like business people. Getting the two to communicate with each other versus talking to each other is a common technology transfer office challenge.

Providing a business mentor to promising research leaders will help alleviate this common problem. This continuous conduit will go a lot further than a long forgotten entrepreneurial seminar.

4. Develop alternative commercialization strategies early.

Good business people know that there is always a chance that their efforts may fail. Technology transfer officers know this too. Unfortunately, many researchers and inventors do not think about this, much less plan for it.

Most inventors think that their invention is world changing and worth millions. They have visions of establishing a company based on their research or technology, selling it for millions, and retiring in the lap of luxury.

The truth of the matter is that nine out of ten spin offs and startups will fail. You, can as the technology transfer officer can improve these odds.

I sit on the advisory board for some start up focused investment funds. One of the strategies that we have developed recently is to go for the big distribution partnering deal with large companies. When that doesn’t work – we find out why and have alternative proposals available.

This alternative could be limited distribution agreements on licensing deals. It really doesn’t matter what the alternative is. What does matter is that you get to stay in the game and get a return on the sunk costs.

5. Reduce risks for all involved.

It wasn’t that long ago that many universities shunned the entire technology transfer process. They wanted their faculty teaching and doing research, not commercializing their intellectual property. My, how times have changed.

Now universities love the revenue that comes from royalties and equity distributions and sales that are associated with intellectual property commercialization. Businesses are always looking for a competitive advantage and right now innovation is the soup de jour, except for one thing …RISK!

In order to get more businesses interested in potential technology look for new ways to reduce their potential risks. Right now cash is king. Instead of negotiating a lower royalty percentage, offer your potential licensor a deferred royalty agreement at a higher percentage. This is the business innovator’s version of “no interest payments for 3 years”.

This approach allows the business to conserve cash today and the university to reap more money in the long run. It’s better than the technology sitting on the shelf waiting to become obsolete.

6. Teach bootstrapping to your startups.

All technology startups need money. That is a known fact. The truth is that many could get by with less money than they think that they need. There in lies the art of bootstrapping. Bootstrapping basically means to start and operate a business without lots of investment funds. It requires the entrepreneur to focus on sales and to hold fixed costs to an absolute minimum.

Bootstrapping requires a unique mindset that few lead researchers turned entrepreneurs can relate to. It takes a special entrepreneur to be able to successfully bootstrap a business.
Help your lead researchers and startup teams. Get some experienced bootstrappers on your advisory and consulting teams and pass the knowledge on to your startups.

7. Partner with other technology transfer offices.

Technology transfer offices provide a valuable service to both the university and their research communities. They play a vital role in the economic development of their respective communities and states. Unlike many organizations involved in the invention commercialization process they do not compete.

Some technology transfer offices such as Stanford and MIT are the envy of their peers, however most technology transfer offices do not reside in a geographic area that harbors entrepreneurship in its DNA.

Partnering with other technology transfer offices offers many unique benefits that cannot be found though other means. It opens up dialogue and support for represented research and technologies to new areas and new commercialization ideas. It develops relationships with other potential business partners and fosters potential research synergies.

Targeted TTO partnerships can lead to specific research pairing with higher degrees of commercialization potential. This focused effort will, in the long run, yield a high degree of return on investment.

These 7 technology transfer officer tips can help you reduce your operating costs and increase your revenue generation success rate. It’s a win for society, the researcher, the business community, the university, and YOU!

The Right it Stuff: Finding and Working With the Best Information Technology Services Partner for your Small Business

Do you often feel stuck in the computer abyss when it comes to managing your company’s needs for web or information technology services? Businesses with fewer than 50 or 60 employees often find themselves struggling to keep pace with their basic web and computer support services and miss out on effective small business IT solutions.

Without the guidance of an information technology services provider, small businesses can end up wasting time and money on computer support services because they aren’t in touch with the best technology tools and practices for small business IT solutions. Even zero-employee companies can benefit immensely from a computer support services partner who shows them how to standardize their practices, save money with the right hardware or software and develop effective websites.

Putting Out Fires – Who Needs Dedicated Computer Support Services Anyway?

The approach often taken by small organizations when it comes to information technology services is one of putting out fires. No one has time to update the website, the network is cobbled together with wiring strung across the floor, and you’re not sure when the last backup really ran. Then, a hard drive starts going click-click. You call that guy you occasionally use for computer support services, “Joe-I-Fix-Anything-PCs,” to get the computer booting. That’s when to your horror you discover that the tape in the drive since last Tuesday wasn’t really backing up and the click-click is the sickening sound of your QuickBooks data being eaten by the dying hard drive.

There is a Better Way: A Solutions Partner for Web and Information Technology Services

It isn’t that “Joe” can’t spot you some quick computer support services and get you up and running again. It’s the point that the “bargain” hard drive failed without warning, your data wasn’t backed up and you didn’t even have a centralized data management practice to begin with. Wouldn’t it have been great to avoid all the headaches by using best-practice guidelines for business management and making informed purchase decisions? That’s where a good small business IT solutions provider comes in, not only to avoid disaster but to save money. For example QuickBooks could be integrated with your shipping and credit card processing which saves three employees 30 hours a week in order fulfillment. Then you might implement a web solution for online orders which integrates with QuickBooks. A good information technology services partner makes computer support services a value proposition.

Small Business IT Solutions – Hiring a Partner

So what’s the best way to find a great web or information technology services partner to work with and then get the most out of that relationship?

1. Look for a company that specializes in small business IT solutions

Computer support services companies that specialize in small business will be more in tune to your particular needs and challenges. They will understand budgetary constraints for computer support services and the need to use resources very efficiently. Because technology developers and manufacturers are now seeing a large and relatively untapped market of small business customers, there are some terrific tools emerging for small organizations. A technology partner focused on small business IT solutions and information technology services will help your company grow and succeed.

2. Do you need a local information technology services partner?

Not necessarily. If the goal here is to find a provider of information technology services to help you manage your website, make purchase decisions and facilitate projects, it doesn’t have to be local. With sophisticated remote tools and web-based collaboration, many problems and projects can be addressed remotely. The key is to find a good fit. For onsite service such as network installation or hardware swaps, a good solutions partner can identify and schedule local computer support services as needed or works with a nationwide network experts for repairs, rollouts or other onsite computer support service. If the company isn’t local, ask what provisions it has in place for onsite service.

3. Personalized computer support services

One of the stigmas attached to the tech industry and a common complaint about providers of computer support services is lack of personalization. A good provider of information technology services wants to get to know you, your processes and your employees. The staff should ask questions about what your company does and who the key contacts are to gain a feel for your organization’s culture. Likewise, access to the provider’s staff and resources is equally important. The relationship is going to be much more effective when that company has a mandate for personalized service and an open door to communications.

4. Due diligence

Think of hiring a solutions partner for information technology services like you would hiring someone for your staff. Look for a company that is seeking a long-term partnership. Ask for references. Then find out how long the company has been in business, who you will have access to for a problem or project and how the provider charges for its computer support services.

5. Cohesive approach and good facilitation

The partner that you select should want to take a cohesive approach to understanding your business or organization and help you come up with a customized plan for your technology and web needs, be it a long-range strategy or a specific project. The difference between “Joe-I-Fix-Anything-PCs” and a provider of complete information technology services and solutions is someone who can do a good discovery about your organization and its goals, facilitate the project and help bring together providers for the components outside their expertise. Also, a one-stop shop can provide you with benefits. Keeping your hardware and software purchases, web and computer support services together can provide you economies of scale combined with the convenience of single point of support and access to someone who knows your business.

How to Get the Most Out of the Relationship

6. Identify key problems, goals and areas to improve efficiency

Once you partner with a provider of information technology services and solutions, the first and most important step is an analysis of problems. The more you can communicate about your company, current practices and areas to improve, the more effective your solutions partner can be in coming up with a computer support services plan designed to keep things running smoothly, maximize your assets and move your organization forward.

7. Set up best practices

Typically the biggest challenge small organizations face in being successful is getting out of their own way, seeing the big picture and making the changes necessary for improvements to happen. A good small business IT solutions partner can help you set up best practices to get most out of your investment in information technology services. However, making sure those practices are implemented and followed rests squarely on your shoulders, not on those of your computer support services provider.

8. Avoid costly mistakes – Don’t make impulse purchases

Whereas large companies tend to have a formal evaluation and approval process in place for making technology purchases, many smaller organizations make impulse purchases. Let the company you’ve hired for information technology services do its job and provide you its expertise on purchases. If the company resells hardware and software at competitive rates, purchasing from it can be worthwhile. You’ll have a single point of purchase for computer support services, and the company can recommend hardware and software from manufacturers it has partnerships with and expertise on as well. All of that translates to added benefit to you.

9. Choose managed information technology services designed for business

Small organizations have a tendency to operate off the cuff, looking for freebies or grabbing cheap services not really designed for business. This approach to information technology services can come back to bite you. If you want to grow your business, approach your needs for computer support services like a bigger organization would. If your IT partner makes recommendations on computer support services that you think you can find cheaper elsewhere, take a hard look at what you are getting and how it can really benefit your business. Once you weigh all the benefits, you may find the value to your business growth and offerings far outweighs the cost.

10. Can I still do it myself?

Working with a good provider of information technology services doesn’t mean you can’t do anything yourself. In fact, a reputable and innovative IT company should educate you on how to better manage your technology needs and investments. There are still a lot of day-to-day tasks you can and should do within your organization, depending on your skill level, time and desire. The point is to keep your computer support services partner in the loop and use their expertise and input on major technology decisions.

Conclusion

So, what’s in it for you? By partnering with a provider of information technology services, you’ll find a more thought out, comprehensive approach to small business IT solutions that can increase efficiency, save you money, generate revenue, and help your business

10 Reasons Your Small Business Needs A Technology Services Provider

Can your small business get both affordable professional-class IT service and peace of mind? The secret lies in having a technology services provider handle your technical solutions.

To stay competitive, small businesses must make the most of current technology. But it’s expensive, time consuming, and inefficient to maintain a full-time IT department like larger companies. A true Professional Technology Services Provider offers on-demand talent, depth of experience, deep resources and huge economies of scale. Here are the top 10 benefits you’ll see.

Benefit #1: Stay Focused On Core Business Functions

People are happiest doing what they do best. And they get frustrated by tasks that distract them from it. Researching solutions, implementing new technology and fixing IT-related problems are extremely inefficient for non-IT professionals. Free up internal staff for revenue-generating functions and the business of business.

Benefit #2: Tap Economies Of Scale And Purchasing Power

Due to a single focus on IT, sechnology services providers achieve greater efficiencies and economies of scale. They consolidate purchasing power and have access to deep and broad knowledge bases. Using developed best practices, tasks are completed more efficiently than small businesses can do on their own. The means real cost savings– both in time and money.

Benefit #3: Reduce Cost and Control Operating Expenses

The business value of technology services providers results in very hard dollar savings. In almost all cases, small businesses will spend 25% to 50% less than the cost of even one mid-level IT professional. Then take recruiting, training, vacation, sick days, turnover and other management issues out of the equation to see even more savings. Costs are budgeted, predictable and controlled.

Benefit #4: Access Highly Specialized Talent

Small businesses cannot cost effectively achieve the scale and flexibility to properly support their technology environments. Even a very experienced and dedicated IT employee has limits to skills and avenues for help. Professional technology services providers offer access to teams of IT specialists that deliver the cross-sectional IT knowledge needed to provide both on-going and critical support for small business networks.

Benefit #5: Get Services On-Demand

Many small businesses face the challenges of growth and the burden of scaling back. Both cases present a genuine HR problem when relying on in-house IT resources. Small businesses need the agility of just-in-time resources for emergencies and the flexibility to adjust technology support levels. With a professional technology services provider, sudden changes won’t affect the livelihood or morale of employees.

Benefit #6: Help Employees Innovate and Stay Productive

Communication, collaboration, and knowledge sharing allows employees to innovate. These capabilities are delivered through a multitude of technologies including file servers, central databases, broadband connectivity, mobile platforms, email communications, and many others. However, true productivity and business benefit can only be realized when this complex technology is properly planned, implemented and maintained. The best practices and comprehensive experiences around planning, implementing and maintaining such systems allow technology services providers to successfully deliver these productivity improvements.

Benefit #7: Reduce Downtime

Even a few minutes of systems downtime carry enormous business costs. Maximizing uptime must be a high priority. Small businesses can longer afford issues with internet connectivity, email communications, corrupt data or systems failure-the cost of reacting to these events is just too high. Professional technology services providers offer planned, measured approaches to pro-active systems maintenance, security, backup and disaster recovery.

Benefit #8: Get A Technology Edge Over Competitors

Don’t just level the playing field: take advantage of new technologies for a competitive advantage. Technology services providers keep up with the latest solutions through ongoing training and real-world experience. They know how to implement the latest hardware, software, and network applications available. Just as important: they know which technologies are not worth the investment.

Benefit #9: Attract and Retain Employees

Employees want to work in an environment where their computers are up and running. Employees want to be competitive with their rivals and they want the technology tools that really help them deliver. Potential new talent will weigh your company’s technology prowess. Utilizing a professional technology services provider allows small businesses to meet these expectations and increases the ability to attract and retain employees.

Benefit #10: Access Otherwise Unavailable Vendor Support

Access to manufacturers is crucial in effectively supporting complex technology. When available, technology manufacturers traditionally provide basic or unreliable direct end-user support. With a well-established professional technology services provider, small businesses enjoy the benefits of priority access to Microsoft, Cisco and thousands of other technology vendors.

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