Building Commerce and Working with Industry
The OTD strives to foster innovation and entrepreneurship within the institution while engaging the broader business community.
The OTD recognizes the importance of reaching out to the local investment community. In this regard, President Raymond and the OTD have hosted a series of introductory meetings with several venture capitalists (VCs) and representatives of angel and venture capital organizations (VCOs). Each expressed interest in obtaining greater access to and providing supporting information about discoveries and technologies and the companies formed around these discoveries/technologies, for identifying investment opportunities. VCs to explore mutual interests, share information about values and processes, and develop a plan for engaging the VC community to achieve individual and common goals.
In keeping with these trends, MCW and the OTD have developed practices which will facilitate the building of an entrepreneurial ecosystem where such interactions encompass diverse industries and investment groups, build mutual respect and trust and foster efficient communication. Our practices aim to facilitate meaningful relationships which result in mutual benefits as outlined below:
Benefits to our Industry and Investment Partners:
- Access to innovative technologies that can form the basis for new products and/or companies
- Access to MCW scientists and clinicians who can provide their technical and medical expertise and valuable opinions on products and markets
Benefits to the Office of Technology Development:
- Evaluate new technologies for their commercial potential
- Provide service to Medical College of Wisconsin faculty, fellows, students and staff
Benefits to the Medical College of Wisconsin:
- Faculty retention and recruitment
- Community Engagement
- Research Funding
- Employment opportunities for fellows and graduate students
Benefits to all organizations:
- Financial returns
- Regional economic development
- Attribution and recognition
Requests to Conduct Sponsored Research:
The MCW Grants and Contracts Office manages Sponsored Research Agreements (SRAs) for MCW investigators and has the appropriate templates for such contracts. The Grants and Contracts Office works with the OTD to review SRAs that pertain to intellectual property rights.
Requests to Consult or Advise:
Contact the Office of General Counsel before proceeding with a consultant project/position.
Requests to Share Data:
If the material relates to an invention that has been disclosed to the OTD, please contact us. If not, contact the Office of Grants and Contracts and a Materials Transfer Agreement will be drafted.
The MTA defines the rights of the provider and the recipient with respect to the materials and any derivatives. Biological materials, including animals, reagents, cell lines, plasmids and vectors, are the most frequently transferred materials. MTAs may also be used for other types of materials, such as chemical compounds and even some types of software. The transfer of patient samples requires special conditions, and in this case contact the Office of Grants and Contracts.
MTAs that involve the transfer of materials from a company often contain stringent clauses about ownership of the materials and any data or intellectual property derived from the use of the materials.