Latvian Forbes highlighted the capability of the University of Tartu to commercialise patents
The University of Tartu was praised in June issue of Latvian business magazine Forbes in article “Potential of Institutions of Higher Education – Patents” („Augstskolu potenciāls – patenti“) where Maija Goluboviča writes that the University of Tartu has commercialised 20 patents during the last two years, whereas the universities in Latvia have not succeeded in commercialising intellectual property.
The article points out that the main patent applicants are institutions of higher education in the Baltic States. When four largest universities in Latvia have submitted approximately 500 patent applications during the last nine years but they have not succeeded in selling any of them, then University of Tartu has submitted approximately 100 applications in different countries and has commercialised 19 of them during two years earning up to 100,000 euros a year. The most successful transaction of the University of Tartu is referred in the article to be the bacterium ME3, which was discovered in the 1990s and the licence of which was sold by UT to the producer of dairy products Tere in 2008.
Siim Kinnas, Head of Intellectual Property Unit of University of Tartu, explains in the article that as no company looks specially for patents to buy, then the university itself looks for potential clients by creating contacts at events, looking for information in commercial database and from LinkedIn as well as by carrying out marketing activities of the university. Kinnas also emphasises that the quality of patents has to be high enough and a thorough expert assessment has had to be performed in order to attract investors.
At the end of the article, Kinnas expresses his hope that as to commercialisation, universities in Latvia will also reach soon the level of the University of Tartu.
Head of Intellectual Property Unit of University of Tartu
737 6546, 520 4864
siim.kinnas [ät] ut.ee