Academic Research and Technology Transfer from University to Industry: Prospects, Challenges and the Way Forward for Sri Lanka

Abstract

Universities are at the frontier of knowledge, research, innovation and cutting-edge technology. Therefore, converting university research outcome into commercial success has attracted significant attention among policymakers in developed and developing nations alike in recent years. As it is evident, universities around the world are currently embracing a paradigm shift in academic research commercialization, in addition to traditional university mission. Based on the ’Triple Helix’ model of innovation, the universities are to create ‘academic entrepreneurship.’ Relying upon the landmark legislation of the US, commonly known as the ‘Bayh-Dole Act’ leading universities in many countries have established their own university technology transfer offices (TTOs). The Sri Lankan university system is no exception to this international development. Given the critical and urgent need, the University Grants Commission (UGC) of Sri Lanka has introduced a new legal initiative; namely, the Commission Circular (University Business Linkage) No. 10 of 2016 and guidelines for its implementation. The Circular requires universities to implement an IP Policy at universities, promote the creation of university spin-offs and research cooperation between business and the university, among others. To further this policy objective, all fifteen state universities and a number of non-state sector higher education institutions have established the University Business Linkage (UBL) Cells in compliance with provisions of the said Circular. Therefore, the universities in Sri Lanka have perceived the mandate of teaching, research and creating co-operative extension to provide innovative advantages for the benefit of the society in line with the university mission. In view of the above, this research aims to shed light on and critique the new legal environment created by the UGC Circular for academic research, innovation, protection and commercialization viewed through the lens of a comparative legal research and analysis.