EAGER: PBI - Innovation Impact Framework (IIF): Advancing the Understanding of Societal and Economic Benefits of Regional Technology Transfer Initiatives

The Innovation Impact Framework (IIF) project aims to enhance our understanding of how regional technology transfer (the process of licensing technology from a lab to an external entity) initiatives contribute to societal and economic benefits. By focusing on programs that help bring technology from research labs to market, this project will develop new methods to measure the local return on investment (ROI) of these initiatives. The findings will provide valuable insights and recommendations to improve the effectiveness and impact of technology transfer activities, ultimately supporting economic growth, job creation, and stronger regional economies. This research is significant as it will inform policymakers and stakeholders on the best practices for fostering innovation and commercialization of research, thereby enhancing the global competitiveness of the United States. The IIF project employs a novel, interdisciplinary approach that combines technology, economics, and social science to create a comprehensive model for evaluating technology transfer investments. The project will analyze key factors that influence successful technology spinoffs, such as the presence of entrepreneurial talent, risk-tolerant capital, and supportive intellectual property policies. Using a mixed-methods approach, the study will collect and analyze data from proprietary and public datasets, as well as stakeholder interviews and case studies. The project aims to develop robust benchmarks and indicators for measuring the efficiency of technology transfer activities. Additionally, it will explore the role of diversity, equity, inclusion, and accessibility (DEIA) in building successful startup teams. The results will offer actionable recommendations for optimizing technology transfer processes and contribute to the NSF's mission of advancing science and promoting national prosperity. This award reflects NSF's statutory mission and has been deemed worthy of support through evaluation using the Foundation's intellectual merit and broader impacts review criteria.