Thanks to the TecFusion™ program, small companies and entrepreneurs are given an opportunity to present, license and sell their technologies to large corporations. This proven program spurs economic development by spinning innovative technologies into the market, potentially leading to new jobs.
The TecFusion team works with major corporations to identify areas of technology interest in expanding existing businesses or beginning new ones. Once specific technology areas have been identified, e, TecFusion conducts a search of Small Business Innovative Research (SBIR) projects that might match the interests of the coporation. A typical search can yield about 100 small businesses working on the technologies of interest to the corporation.
The corporation then selects some 30 of those businesses and conducts interviews to further narrow the list to about a dozen they’d like to convene at the corporation site. The TecFusion team helps to facilitate this meeting, which is called a Technology Summit. The Summit presents like a mini-trade show, where companies provide information about themselves, give a presentation and have networking opportunities. Based on these more detailed interactions, the corporation then determinesto which companies they will extend partnerships. The ensuing relationshipshave included licensing, the sale of technology, joint development programs and possibly acquisitions.
TecFusion exemplifies how government-funded research can commercialize new technologies and help the SBIR companies. The program effectively leverages taxpayer dollars that have funded small business research. In the end, TecFusion is a win-win for everyone.