PURDUE, Ind., Aug. 22 (UPI) -- The U.S. Navy and a university research unit are partnering to speed commercialization and marketing of their respective intellectual property.
The partnership intermediary agreement is between the U.S. Naval Surface Warfare Center Crane Division and the Purdue Research Foundation, together with Purdue University's Discovery Center.
"Crane has an incredible intellectual property portfolio, and we've had success at moving those technologies to the public," said Brooke Pyne from Crane's Technology Transfer Office. "Partnering with academia provides Crane a credible avenue to move even more innovative technology through the commercialization pipeline with a goal of increasing the number of licensing and startup deals for both organizations."
Under the agreement, each organization will continue their independent ownership of their property. However, NSWC Crane's intellectual property will be marketed alongside Purdue's through the Purdue Office of Technology Commercialization, managed by the Purdue Research Foundation. The result will be a broader and deeper database of intellectual property available to companies for commercialization.
"Because much of Crane's and Purdue's research is focused on similar disciplines and industries, the partnership could lead to bundling Crane's and Purdue's licensing deals into one package," said Dan Hasler, president and chief entrepreneurial officer of Purdue Research Foundation.
NSWC Crane's intellectual property includes technological advances for sensors, antennas and radar, while Purdue's include innovations in life sciences, engineering, information technology and manufacturing.
Purdue's available intellectual property is currently marketed online and it is exploring additional marketing avenues.