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Long ago I received my undergraduate degree from the University of Florida (UF). I remember when I started college, UF provided us a document that was entitled the IP passport, looked like a passport, and had all the IP related details you ever wanted to read about (which wasn't much for an 18 year old kid). But it was all there in plain language. UF had (has?) 3 major IP breadwinners, Gatorade, Sentricon termite bait, and a glaucoma drug. Likely as a result, they had a sophisticated IP licensing and commercialization operation. Later, when I went to Georgia Tech, I discovered their technology licensing services were rather amateur in comparison. There was a time when University of Florida and Florida State University, both state schools, were top 10 ranked for revenue from technology licensure. A professor at Florida State first developed the synthetic chemistry for the drug Taxol. |
Other schools were envious and there was pressure to release it. It's hot down there in the SEC.
By the time I got to the University they were starting to rake in the bucks on the Gatorade and there was an emerging culture where there was widespread pressure to "invent new things or new ways of making the same old things".
It didn't usually work out and has long since faded, but it was an exciting time, not exactly shared by other universities, even some of the most prestigious.
This was quite strong in the Chemistry department where competition was very fierce in this respect, which could be seen as unsustainable at the time.
So when I was still a teenager I realized it was already too late and there would have to be a way to own my own inventions other than academic research, that had to be crossed off the list early.
It looked like a pretty smooth track but it was not headed where I wanted to go.
Therefore no PhD, no Bell Labs, no IBM, etc.
I forked early without resources which always seems premature, but in hindsight it was almost already too late for entrepreneurial effort alone to allow me to later launch without outside capital.
Interestingly, none of the other most lucrative university royalties today are nearly as many decades old as Gatorade.