The technology transfer process between the University and potential business partners is managed by Versitech Limited, HKU’s commercial arm. Technology transfers are made through:
Versitech aims to ensure HKU technology can be delivered to the marketplace in a timely manner. It works towards that goal by providing assistance in such areas as project planning and management, communication between parties, identifying and coordinating resources including manpower, identifying funding strategies, and documentation, marketing and other technical support.
Versitech follows a staged process for technology transfer:
Evaluation Versitech works closely with inventors and business partners to evaluate inventions, products and services created at the University for their feasibility in the marketplace. It also evaluates the options for technology transfer.
Negotiation Versitech works with inventors to negotiate with business partners to select and define the objectives for the product or service to be provided. A development plan is produced that covers specifications, milestones, scheduling and resource requirements on the commercial terms.
Implementation Versitech helps arrange the execution of the commercial deals.