Most technology transfer offices are underfunded and understaffed, and BioVentures, the TTO for the University of Arkansas for Medical Sciences, is no different. Says John Sherrill, Senior Licensing Associate, “Between, evaluating technology, going through the patenting process, docketing, and then going through all of compliance as well, our small office got very bogged down.”
Discovering Tradespace’s intuitive, all-in-one platform and expert team: “It just clicked”
When John met the Tradespace team at the AUTM Annual Meeting, “It just clicked.” BioVentures had been having difficulties with its system and had already been experimenting with AI for one-off tasks like writing technology briefs.
“When we saw Tradespace it was a whole different game. It was the technology transfer management system we needed but didn’t know existed. It had a modern user interface that was intuitive. All its AI tools were integrated into one secure platform. It allowed us to take three separate systems and turn them into one.”
John’s experience with the Tradespace team was equally positive. “You can tell from the very beginning, from sales to onboarding, that these people know intellectual property management. It’s a conversation between peers where there’s another level of thought — of empathy, not just sympathy.”
Gathering licensing strategy inputs automatically to make room for relationships and opportunities
Tradespace immediately transformed BioVentures’ technology analysis and partner identification process, something it had struggled with before. “Finding a potential licensing partner requires hours of tedious manual work: Gaining an understanding of a field you’re not an expert in, identifying contacts who would be interested in the technology, finding their email addresses, figuring out how to articulate the value to that specific company. As an office of science PhDs, we struggled.”
Tradespace’s rich automatic invention evaluation, partner identification, contact information enrichment, and marketing campaign creation means BioVentures no longer has to learn new markets and find contacts from scratch. “Tradespace means accelerating licensing and opening up additional opportunities. I get to spend my time on building personal relationships.”
Eliminating invention disclosure as a chore: “Shocked at how easy and straightforward it is”
Over time, Tradespace also transformed how BioVentures worked with inventors, beginning with disclosure. “Many inventors say disclosure is too much work and takes too much time. ‘I write manuscripts. I write grants. I don’t write disclosures.’ But Tradspace lets inventors put in a manuscript, PowerPoint presentation, poster, or even audio file and it generates an editable technology brief for them.”
“Our inventors have been shocked at how easy and straightforward it is — the barrier to entry for them is so much lower. Even our experienced inventors who have disclosed many times have had great reviews of how it impacts their workflow.”
Gaining facetime with inventors and creating a market-based feedback loop
By giving both BioVentures’ TTO and inventors easier access and time back, Tradespace has let the two collaborate like never before. Says John, “Before, I never met with inventors unless they requested it. With Tradespace, I have the time to meet every time an inventor submits a disclosure, as soon as it happens. Not only that, I go in more informed about the invention and potential licensing partners. The inventors enjoy that time. They get to learn more about the technology, technology transfer, and the patenting process.”
On the inventor side, more market knowledge strengthens both inventions and patent applications. “Sometimes, Tradespace surfaces advantages and use cases that inventors hadn’t articulated themselves. These additional use cases let inventors broaden their focus from just their field to further develop the technology, and lets us broaden patent coverage in turn.”
Adding nuance to tech transfer strategies and relationships
Looking to the future with Tradespace, the BioVentures office is excited to bring more precision to its efforts. “By saving time with Tradespace, we’re able to give new inventors and the most prolific ones special attention.” Similarly, small offices like BioVentures need to be selective about which technologies they target and which patents they continue to pursue. Says John, “Tradespace allows us to be bette in r advocates for our inventors, our budget, and our portfolio.”
Quantitative wins
- 20 hours saved per week
- 5-10 hours saved per disclosure
- 20 hours saved per technology
