California Institute of Technology and Intellectual Ventures Partnership to Fuel Innovation
The California Institute of Technology (Caltech) and Intellectual Ventures (IV®) have announced a partnership to develop and commercialize new technologies.
The partnership allows Intellectual Ventures to fund the inventive work of students and faculty in areas of interest to Intellectual Ventures, such as next generation data centers, dynamic surgical enhancements, and green and sustainable chemistry. Caltech will own the resulting patents and IV will receive a license to commercialize the technology. The inventors will earn a share of the profits from inventions that are commercialized, and will also have an option to create startup companies based on their innovations.
Intellectual Ventures will also work with Caltech researchers to conduct invention workshops where researchers from different disciplines gather together in targeted sessions to address specific problems or opportunities. IV will help manage the patenting process and will provide Caltech and its inventors with revenues from the inventions it commercializes.
Under this agreement, Intellectual Ventures and Caltech will also continue their co-sponsored Intellectual Ventures-Caltech Invention Competition that aims to recognize and inspire budding innovators and entrepreneurs.
“Caltech is undoubtedly one of the best research institutions in the world with the highest caliber of inventors. We are honored to be an invention commercialization partner to Caltech,” said Karen Kerr, U.S. head of business development at Intellectual Ventures.
“The partnership with Intellectual Ventures will provide another opportunity for Caltech researchers to perform innovative research, make groundbreaking discoveries and commercialize their inventions through licensing and start-ups,” said Fred Farina, Caltech’s chief innovation officer. “We are excited to explore this new opportunity to cultivate our environment of creative innovation at Caltech."
About Intellectual Ventures
Founded in 2000, Intellectual Ventures (IV) is the global leader in the business of invention. IV collaborates with leading inventors, partners with pioneering companies and invests both expertise and capital in the process of invention. IV’s mission is to energize and streamline an invention economy that will drive innovation around the world.
About California Institute of Technology
Caltech is recognized for its highly select student body of 900 undergraduates and 1,200 graduate students, and for its outstanding faculty. Since 1923, Caltech faculty and alumni have garnered 32 Nobel Prizes and five Crafoord Prizes. In addition to its prestigious on-campus research programs, Caltech operates the Jet Propulsion Laboratory (JPL), the W. M. Keck Observatory in Mauna Kea, the Palomar Observatory, and the Laser Interferometer Gravitational-Wave Observatory (LIGO). Caltech is a private university in Pasadena, California. For more information, visit http://www.caltech.edu.
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