From Concept to Commercialization
Innovators turn to a strong entrepreneurial network including the UVA Licensing & Ventures Group when they’re ready to turn an idea into a reality. Between 2006 and 2016, the LVG has:
Filed patent applications
Negotiated licensing and options agreements
Assisted new company foundings
- TypeZero Technologies
- Technology revolutionizing the treatment and management of diabetes
- Affordable drinking water treatment technologies to improve global health
- Wireless sensor systems that operate using harvested energy
- Software platform to predict dangerous health events hours before diagnosis
- Rivanna Medical
- Pocket-sized ultrasound device to guide epidurals
Innovation occurs constantly at the University. In medical labs, research centers and beyond, faculty, students and staff create things that could ultimately become new products, services or tools to improve society. UVA’s Licensing & Ventures Group exists to help advance these inventions into commercial successes.
To start the process, inventors disclose their invention to the group. At this point, Licensing & Ventures begins working closely with creators to optimize the commercial outcomes.
Where appropriate, LVG’s professional staff, advisors and attorneys help innovators protect their ideas by filing patents, copyrights, and/or trademarks. This all-important step protects their intellectual property as they move into the competitive commercial realm.
UVA Licensing & Ventures Group licenses the commercialization rights or “title” to bring the new intellectual property to market. In some cases, UVA inventors choose to license their intellectual property to start-ups they co-found. Licensing & Ventures also facilitates licensing to outside companies.
The Licensing & Ventures Group supports licensees and start-ups as they get UVA innovations off the ground. It hosts entrepreneurs in residence to offer advice and has free temporary office space for new ventures. They also connect UVA entrepreneurs with potential investors and invite them to apply for investment from UVA.
Once intellectual property is successfully commercialized, UVA and the inventors share net revenues. The University continues the cycle of innovation by reinvesting its portion of the revenues into new research and scholarship on Grounds.