The University should do its best to shield the Office of Technology Development from the impacts of imminent budget cuts. If anything, its funding should be increased because the Office of Technology Development is in many ways working against the very economic conditions that have necessitated widespread cuts.
The Office of Technology Development helps researchers and thinkers at UNC turn their ideas into concrete ventures and products by both managing and funding the patenting and licensing process for these ideas. It acts as a link between the thinking and the doing parts of innovation.
As the University embarks upon Chancellor Holden Thorp’s $125 million Innovate@Carolina initiative, it is crucial to not cut corners in such critical areas as licensing and patenting.
It would be nothing short of ludicrous to invest such a large sum of money in innovation and not ensure that the fruits of this innovation can be properly licensed and reach the market in a timely manner.
Moreover, the Office of Technology Development does precisely the sort of thing that would directly aide the development of the economy in the Triangle area.
By enabling ideas to become real products, companies to sell and manufacture these products will form, thereby providing revenue and employment opportunities and generally bolstering the local economy.
This situation calls for increased communication and synergy between various parts of the University to maximize the effectiveness of the money we invest in innovation.
This sort of awareness and efficiency is especially important in these trying economic times.
We hope those who decide the fate of the Office of Technology Development’s funding recognize this importance and take the necessary steps to ensure the office’s continued existence and growth.
