Growing the discoveries of Virginia Tech research

Growing the discoveries of Virginia Tech research Image

Virginia Tech Intellectual Properties, Inc. (VTIP) is a technology licensing and commercialization arm for Virginia Tech (VT) and was established the same time as the Virginia Tech Corporate Research Center (VTCRC) in 1985. VTIP’s mission is to help discoveries by Virginia Tech researchers be translated into products and services that benefit the public. As an affiliated corporation of Virginia Tech they are a separate entity, but closely aligned with VT’s research goals.

As the buzz of entrepreneurship and innovation grows on VT’s campus, they saw a significant increase this past year in transfer of technologies to new startups based on discoveries made at the university. With eight new startups licensed or optioned technologies from VTIP during this past fiscal year, ending June 30, 2015, many locate in Blacksburg and look to the VTCRC as a valuable location to base their business.

One of VTIP’s more successful outreach programs for the campus community is their IP and Innovation Office hours that started in April 2015, located in the Torgersen Hall on campus. Torgersen Hall offered space for the office hours and now for the first time in history, they have a convenient and close place on campus for students and faculty to talk to a VTIP representative about the commercialization process. The scope of their discoveries they evaluate is broad, just as the research areas of Virginia Tech are deep. VTIP has significant new discoveries just in the last few months that they will be trying to find companies to license. Examples include targeting malignancies with electrical pulses, security identification of individuals using a common body signal, discovery of a new platform for antimicrobials, a device for maneuvering underwater vehicles and a new biofilm coating for materials to reduce bacterial infections.

VTIP chose the VTCRC because of its closeness to campus, while also being close to businesses and companies that may license their technologies. The VTCRC gives them real world experiences by enabling VTIP to discuss the needs, challenges and inspirations directly with the companies in the research park.

“We have always been advantaged by our choice of location. The environment here lends itself to innovative thinking and we have enjoyed seeing companies grow and be successful in the VTCRC, including many of those who have licensed discoveries from VTIP and turned them into successful businesses” said Mark Coburn, President of VTIP.

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