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Introduction

A presidential memorandum directing the acceleration of technology transfer and commercialization of federal research in support of high-growth entrepreneurship was issued by President Barack Obama on October 28, 2011.  The memo stated that,

“Innovation fuels economic growth, the creation of new industries, companies, jobs, products and services, and the global competitiveness of U.S. industries.  One driver of successful innovation is technology transfer, in which the private sector adapts Federal research for use in the marketplace.  One of the goals . . . is to foster innovation by increasing the rate of technology transfer and the economic and societal impact from Federal research and development (R&D) investments.  This will be accomplished by committing each executive department and agency (agency) that conducts R&D to improve the results from its technology transfer and commercialization activities.  The aim is to increase the successful outcomes of these activities significantly over the next 5 years.”

The memorandum mandated each federal agency to:

  1. establish goals for technology transfer and develop appropriate measures to evaluate progress,
  2. streamline the federal government’s technology transfer and commercialization process, and
  3. facilitate commercialization through local and regional partnerships.

Footnotes

1White House. (2011, Oct 28). Accelerating technology transfer and commercialization of federal research in support of high growth businesses. Retrieved from http://www.whitehouse.gov/the-press-office/2011/10/28/presidential-memorandum-accelerating-technology-transfer-and-commerciali