The Board of Regents approved the formal establishment of a Technology Transfer and Commercialization Office (TTCO) during its meeting on Thursday, July 7.

The office will support industrial liaison, technology transfer and commercialization at Memorial. Functionally, the TTCO will be part of the vice-president (research) portfolio.

Key recommendation

The creation of the TTCO is one of the key recommendations in the university’s Technology Transfer and Commercialization Strategy, which received board approval in December 2015.

“As the only university in the province, Memorial has a critical role and responsibility in helping to build a stronger Newfoundland and Labrador,” said Dr. Richard Marceau, vice-president (research). The Technology Transfer and Commercialization Office will be the vital interface between Memorial’s research community and its external partners and sponsors. Through our Technology Transfer and Commercialization Strategy, and the work of the TTCO, Memorial will contribute more effectively to the province’s economy.”

Implementing new strategy

The TTCO will be responsible for the implementation of key actions of the Technology Transfer and Commercialization Strategy, ensuring all of its recommendations are implemented in a timely manner by their respective units. Additionally, the TTCO will be responsible for tracking the success of the strategy by identifying and collecting data regarding appropriate metrics.

“Memorial is committed to fostering a progressive culture of technology transfer and commercialization here in Newfoundland and Labrador.” –Dr. Ray Gosine

The implementation of the new strategy is one of the primary responsibilities of Dr. Ray Gosine, associate vice-president (research).

“Memorial is committed to fostering a progressive culture of technology transfer and commercialization here in Newfoundland and Labrador,” said Dr. Gosine. “The province, the business community at large, our entrepreneurial graduates and Memorial’s researchers will benefit from the work of the Technology Transfer and Commercialization Office and our new strategy.”