Flamingo Sky can provide a fully outsourced option to universities for the identification, commercialisation and funding of IP/R&D projects for an annualised fixed fee that is considerably less than the cost of managing such departments internally. Under this arrangement Flamingo Sky will:
- Appoint an account/project manager to the university as IP/R&D commercialisation lead.
- Operate a commercial office on site and promote commercialisation services within the university and academic groups.
- Prioritise commercial opportunities and move them through the pipeline.
- Build commercial partnerships locally and globally to support innovation.
- Utilise its EU base in Estonia to drive ongoing EU grant and R&D opportunities via Horizon 20/20 and various frameworks.
- Report to the university board monthly/quarterly on developments and opportunities.
- Define and drive the university innovation brief
- Seek advantageous commercial terms for any IP/R&D project with commercial viability.
The input to this model is raw innovation whilst the output is a commercially viable and profitable commercial deal for the university. Flamingo Sky will manage all aspects of the Innovation process, partnerships, funding, investments and outcomes.
The benefits of this approach to the university are:
- Significantly reduced cost of service provision.
- Clearly defined plan and outcomes that are measurable and achievable.
- Considerable focus on identification of opportunity and the beneficial commercial outcome.
- Allowing the university to focus on core research and not peripheral commercialisation.
- The opening up of new commercial and funding partnerships and opportunities alongside alumni services.
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