Modern medicine is evolving rapidly, yet many promising research projects never reach commercialization. According to an OECD report, a significant portion of innovations remain within academia and fail to make it into clinical practice. One of the key reasons is a lack of commercialization expertise and effective collaboration with the business sector. In this context, innovation brokers play a crucial role, connecting the worlds of science and industry to facilitate the successful implementation of new medical technologies.
Who Are Innovation Brokers?
A technology broker is a specialist who supports the transition of innovations from the research phase to the market. Their role includes identifying promising projects, assessing their commercial potential, and coordinating efforts to bring them to implementation. With their assistance, the time required to introduce a new medical technology to the market can be significantly reduced.
Key Support Areas of Technology Brokers in the Medical Field
1. Technology Assessment
Brokers conduct analyses to determine which projects have the greatest market potential. They consider factors such as Technology Readiness Level (TRL) and potential market size. For example, projects with a TRL of 4 or higher are more likely to attract investors.
2. Intellectual Property (IP) Management
Effective IP management is critical for commercial success. Well-protected projects are more attractive to investors and have a higher chance of reaching the market. In 2022, 15,000 medical patents were filed in Europe, yet only 20% were commercialized (European Patent Office). Projects with IP protection hold three times higher investor value (Oxford University).
3. Science-Business Matchmaking
Brokers act as mediators between academia and industry, facilitating collaborations between universities and businesses. Thanks to their efforts, many medical startups have formed valuable partnerships with academic institutions.
4. Securing Funding
Projects supported by brokers have a higher chance of obtaining funding from sources such as European grants and venture capital investments. In recent years, healthtech investment has surged, creating additional opportunities for innovative projects. According to statistics, broker-supported projects are 35% more likely to receive EU grants (Horizon Europe).
5. Support in Establishing Spin-offs
Brokers assist in creating spin-off companies that commercialize scientific research. With their support, these companies have a higher chance of surviving and thriving in a competitive market. Medical spin-offs with broker support have a 70% survival rate over five years (compared to 40% without support – MIT).
Why Do Medical Universities Need Innovation Brokers?
- High Risk of Failure – Many research projects fail to reach commercialization due to a lack of business and management experience. 70% of projects without broker support never progress beyond the research phase (OECD).
- Financial Pressure – Universities worldwide are increasing investments in technology transfer to remain competitive in the global innovation market.
- Patient Expectations – Patients demand faster access to the latest therapies and medical technologies. Innovation brokers help accelerate the introduction of new solutions, directly improving healthcare quality.
Conclusion
Innovation brokers play a key role in transferring medical technologies from universities to clinical practice. Their expertise increases the likelihood of market success for innovative solutions, ultimately improving healthcare quality and ensuring that cutting-edge therapies reach patients more efficiently.