The Royal Academy of Engineering has welcomed the House of Commons Science and Technology Committee report on managing intellectual property and technology transfer, published this week.
Professor Dame Ann Dowling OM DBE FREng FRS, President of the Royal Academy of Engineering, said:
"The Select Committee’s report brings timely attention to ensuring that the UK reaps benefits from its research investments, both through effective technology transfer, and through business-university collaboration.
"The report acknowledges progress made on many issues raised in my 2015 Review of Business-University Research Collaborations, such as the efforts made by Innovate UK to streamline and simplify its funding schemes. Yet it also highlights where further work is needed, and advises that progress against the recommendations made in my Review should be reported annually, an approach that I agree would help drive the improvements that are needed.
"I am also supportive of the Committee’s recommendation that more should be done to share best practice in approaches to technology transfer. The Academy has significant experience in assisting researchers with engineering and technology backgrounds to spin out their research through its Enterprise Hub. This recommendation, alongside the government’s recent announcement that it will be exploring the impact of different commercialisation approaches including the varying size of equity stakes taken by institutions, makes me hopeful that we will see an acceleration and improvement in the UK’s commercialisation processes and performance."
The Academy submitted written evidence to the Select Committee's inquiry last year.
Notes for editors
Royal Academy of Engineering. As the UK’s national academy for engineering, we bring together the most successful and talented engineers for a shared purpose: to advance and promote excellence in engineering. We provide analysis and policy support to promote the UK’s role as a great place to do business. We take a lead on engineering education and we invest in the UK’s world-class research base to underpin innovation. We work to improve public awareness and understanding of engineering. We are a national academy with a global outlook. We have four strategic challenges:
Make the UK the leading nation for engineering innovation
Address the engineering skills crisis
Position engineering at the heart of society
Lead the profession
For more information please contact:
Aaron Boardley at the Royal Academy of Engineering
T: 020 7766 0655
E: Aaron Boardley