Today?s technology commercialization is lopsided and unremunerative for developers, university rector claims

Russia needs to seek new legislation that would stimulate the commercialization of university technology into industry, the rector of a leading Siberian university said.

Russia needs to seek new legislation that would stimulate the commercialization of university technology into industry and make the process mutually advantageous for both developers and manufacturing companies, said Petr Chubik, the rector of Tomsk Polytechnic University (TPU), one of Siberia?s leading research and educational centers. ?There is a problem in transferring our projects to economic sectors. It is the way the whole world works: universities serve as innovation hubs and transfer their technology to manufacturing companies for commercial introduction. However, [foreign] legislation in the field of IP protection has been designed in such a way that international universities find it lucrative to do so. We do not have such legislation yet? Today, universities are not properly incentivized to give industry their good projects,? Russian news agency RIA Novosti reported Mr. Chubik?s statement. Governor Sergei Zhvachkin of the Tomsk region backed the TPU rector, adding that there must be a ?system? in relations between innovation project developers and production companies[/foreign]...