Reports Facilitating the Commercialization of University Innovation This paper examines an innovative new set of practices associated with the commercialization of university research developed and implemented at the University of North Carolina at Chapel Hill. Written by Lesa MitchellApril 16, 2010 Share: Facebook LinkedIn Twitter Download the Report Facilitating the Commercialization of University Innovation: The Carolina Express License Agreement pdf The Carolina Express License Agreement Joseph M. DeSimone Chancellor’s Eminent Professor of Chemistry University of North Carolina at Chapel HillWilliam R. Kenan, Jr. Distinguished Professor of Chemical Engineering North Carolina State UniversityLesa Mitchell Vice President, Advancing Innovation Ewing Marion Kauffman Foundation Introduction As the United States recovers from the most severe recession since the 1930s, efforts to boost economic growth assume paramount importance. This means not not only finding ways to spur rapid job creation but also advancing the country’s capacity for innovation. One way to do this is to encourage academic research enterprises to facilitate the transfer and spillover of scientific and technological research into commercial application. In particular, the research laboratories of our nation’s universities are unparalleled sources of dynamic new spin-off and startup companies. These fledgling enterprises in turn have the potential to become high-growth firms. Recent Kauffman Foundation research demonstrates that top-performing new companies are a fertile source of new jobs. In the following paper, we examine an innovative new set of practices associated with the commercialization of university research developed and implemented at the University of North Carolina at Chapel Hill. New standard licensing agreements support and expedite firm formation as an outcome of universitybased intellectual property. A committee chaired by one of this paper’s authors developed the licensing agreement. The committee included entrepreneurial UNC faculty members with experience in firm birthing, colleagues from the Office of Technology Development (OTD), venture capitalists from the firm Intersouth Partners, and attorneys from a number of firms that have represented UNC startups. The outcome of these discussions produced the Carolina Express License Agreement. Next Reports Exploring Firm Formation: Why is the Number of New Firms Constant? April 7, 2010 Reports High-Growth Firms and the Future of the American Economy April 7, 2010 Reports The Distributed Partnering Model for Drug Discovery and Development January 15, 2010