News & EventsJanuary 3, 2013
UR, RIT Researchers Face New Pressure to Commercialize Work
When University of Rochester scientist James McGrath started his career, doing research that would lead to marketable products was not a priority.
But the landscape has changed dramatically. Government funding for research has been stagnant for several years. Public and private grants now come with greater demands for results that can help drive profits and economic development.
Some venture capital firms are investing less in small early-stage projects. Pharmaceutical companies and manufacturers have switched from in-house research to working with universities and other institutions. Partnerships between university researchers and industry have grown.