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Spring 2005 |
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Cover Story
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As tech tide rises, ISURF’s up The Iowa State University Research Foundation (ISURF) manages all intellectual property (IP) generated by the university’s research faculty. The nation’s second-oldest such entity, ISURF has been in existence since 1938. But it wasn’t until the Bayh-Dole Act of 1980 that the Foundation’s role became more important. Under Bayh-Dole, ownership of IP generated under federal contracts reverts to the institutions where the research originated. Technologies formerly “warehoused” by federal agencies—often never to see the light of day—can now be more effectively commercialized, with proceeds from licenses and royalties benefiting universities and their research faculties. ISURF receives no funding from Iowa State and is supported wholly by income from its endowment and licensing fees. Its professional staff assesses the marketability of IP, assists with patent applications, and manages the university’s portfolio of patents and licenses. Although ISURF secures up to three dozen patents annually, not all IP held by the Foundation results in patents. Only discoveries deemed marketable are actively pursued by Director Ken Kirkland and his staff. “Cool science doesn’t necessarily mean you have something that’s commercial,” Kirkland remarks. Still, ISURF works with researchers, providing one-year grants up to $25,000 to help them make their discoveries more marketable. The Foundation has funded 76 such projects since 1996, earning about $2.9 million in royalties from $1.4 million in support. While ISURF encourages faculty startups (see story), often the Foundation determines that a technology’s potential might best be realized through licensing to an already existing company. “The entity we first seek to protect is the university,” says ISURF Associate Director Nita Lovejoy. “We exist to serve the university.” |
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