IOCB TTO was formed in 2009 with to develop research outputs to the point of market- or investment-ready products. However, with a staff of just two persons: a CEO highly experienced in technology transfer and a patent attorney, the TTO could only offer advice on patenting and commercialisation issues. No resources were available for project development or project management. Consequently, IOCB TTO was not having the expected impact of increasing the output of commercialised research for the parent institute. With little or no chance of increasing funding for staff from the PRO, IOCB TTO needed to find another way to increase staff numbers to proactively manage commercialisation of the university research outputs.
Despite the lack of available funding, IOCB TTO decided that they should be ready with a plan to implement project management activities which would systematically progress ideas through to products and grow the TTO and IP portfolio. In the short term, their strategy was to bid for funds to support TT activities and to be ready to move as soon as finance became available. Long term, the aim is to develop their portfolio and resources to achieve a higher level of commission on royalties from commercialisation deals negotiated by them in the future. This will produce more funds for future project development and commercialisation and enable the TTO to continue to grow.