A top academic, innovator and serial entrepreneur calls on the Government to give small and medium sized businesses open access to the intellectual property (IP) created in UK universities.
Professor Andy Hopper CBE has this week become the new President of Europe’s largest professional society for engineers and technicians, the Institution of Engineering and Technology (IET).
Universities should be encouraged and incentivised to kick start the development of new technologies and products by openly assigning the required IP to dynamic British businesses at minimal extra cost. In return, maybe the university could get a one or two per cent shareholding – more of a goodwill gesture than a conventional transaction.
Professor Andy Hopper believes this will be a big boost for the engine room of the UK economy, small and medium sized enterprises.