In January 2015, Louisiana State University (LSU) established the LSU LIFT (Leveraging Innovation for Technology Transfer) Fund, a programme offering bi-annual competitive funding to LSU faculty members to support the transfer of innovation from the laboratory to the market. The university’s Board of Supervisors further resolved to sustain the fund on an ongoing basis by allocating 5% of the university’s future IP licensing income to it.<\/p>\n
In Round 1 of funding, the programme attracted 47 applications, of which 15 grants were awarded, representing a total commitment of over US$ 500,000 in support of further commercialisation of innovation. Round 2 was in progress at the time of publication, with awardees expected to be announced at the beginning of 2015. In October 2014, the Research Park Corporation launched a US$ 250,000 LSU Re-LIFT programme to support applicants who had not secured funding in Round 1 but whose projects showed commercial promise.<\/p>\n
LSU’s Board of Supervisors subsequently approved the addition of a further US$ 2M to the LIFT Fund. LSU President and Chancellor F King Alexander stated:<\/p>\n
“LSU faculty conduct research that has important impact on people’s lives. With the launch of the LIFT Fund and now the extended commitment to transfer research innovations into marketplace, LSU continues to demonstrate that our research can enhance the lives of people in Louisiana and the nation”.<\/p><\/blockquote>\n
Broader Significance for Technology Transfer<\/h2>\n
Technology transfer initiatives of the kind represented by the LSU LIFT Fund address a persistent gap between basic research and development and the commercialisation of technology, providing financial and institutional support for activities such as further experimentation and prototyping that are necessary to move an innovation towards the market.<\/p>\n
Disclaimer<\/h2>\n
This article is for general information and does not constitute legal advice. Readers should consult a qualified attorney before acting on any matter discussed here.<\/p>\n","protected":false},"excerpt":{"rendered":"
LSU\u2019s LIFT Fund offers competitive support for faculty to transfer innovation from research to market. The initiative strengthens technology commercialization by funding promising university projects and bridging the gap between development and market readiness.<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":32,"footnotes":""},"categories":[6],"tags":[6914,12837,65,6911,6916,6915,123,6913],"class_list":["post-17856","post","type-post","status-publish","format-standard","hentry","category-intellectual-property","tag-faculty-funding","tag-innovation-commercialisation","tag-ip-licensing","tag-lsu-lift-fund","tag-market-innovation","tag-research-grants","tag-technology-transfer-2","tag-university-research"],"_links":{"self":[{"href":"https:\/\/www.bananaip.com\/intellepedia\/wp-json\/wp\/v2\/posts\/17856","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bananaip.com\/intellepedia\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bananaip.com\/intellepedia\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bananaip.com\/intellepedia\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bananaip.com\/intellepedia\/wp-json\/wp\/v2\/comments?post=17856"}],"version-history":[{"count":4,"href":"https:\/\/www.bananaip.com\/intellepedia\/wp-json\/wp\/v2\/posts\/17856\/revisions"}],"predecessor-version":[{"id":149742,"href":"https:\/\/www.bananaip.com\/intellepedia\/wp-json\/wp\/v2\/posts\/17856\/revisions\/149742"}],"wp:attachment":[{"href":"https:\/\/www.bananaip.com\/intellepedia\/wp-json\/wp\/v2\/media?parent=17856"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bananaip.com\/intellepedia\/wp-json\/wp\/v2\/categories?post=17856"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bananaip.com\/intellepedia\/wp-json\/wp\/v2\/tags?post=17856"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}