Entrepreneurship and Translation in the University Landscape

Abstract

University research has become a core driver of innovation. Every year, governments around the globe invest in new and potentially groundbreaking discoveries. For this novel research to drive impact, it must be translated from the research setting into the market. This translation process is complex and challenging, and many hurdles and roadblocks stand in the way of success. This paper explores the process of translation, focusing on the process in which academic participants such as students, researchers, principal investigators, and professors must make a decision to invest their time and effort to bring a product to market and the steps involved in spinning research out of the lab and into the market. By examining the variables leading into translation and the early steps of the process, this research provides a playbook that can be utilized by these students, researchers, and staff to reduce the friction to entrepreneurship. This research aims to increase the quantity and success rates of startups out of the university setting.