U.Va. Patent Foundation Steps Up Efforts For Inventors

Date:  Mon, 1999-09-13

The University of Virginia September 13, 1999 Sept. 13, 1999 — The University of Virginia Patent Foundation recently signed a marketing agreement with Mosaic Technologies, Inc., signaling a stronger effort to move U.Va. inventions out of the ivory tower and into the marketplace. Mosaic, a technology marketing and development firm in Charlottesville, will help the Patent Foundation find licensees for tough-to-market technologies. “Sometimes we feel sure that a technology is valuable, but just can’t find the right company to take it to market,” said Robert MacWright, executive director of the Patent Foundation. “We hope that Mosaic’s contacts, especially those in foreign markets, may lead to opportunities we otherwise would have missed.” Under the contract between the two organizations, Mosaic would receive part of the Patent Foundation’s share of royalties resulting from any license that it helps arrange. The agreement is similar to one the Patent Foundation signed earlier this year with the U.Va. Health System Development Office, which has developed an extensive network of corporate contacts as part of its efforts to support the U.Va. School of Medicine. “We have a long-standing relationship with U.Va. and are enthusiastic that we can help the Patent Foundation bring U.Va. technologies to the marketplace,” said David Martin, president of Mosaic. Martin, an alumnus of U.Va., is also the founder of the Charlottesville Venture Group, which helps bring small business owners together with financiers and local business service providers. Mosaic recently formed M·CAM, a company that helps banks develop a means by which patents can be valued and used as collateral in making business loans. The Patent Foundation is responsible for the evaluation, protection, and licensing of inventions made in the course of research at the University of Virginia. Established in 1977, the Patent Foundation funnels income from royalties and fees to U.Va. inventors, their research laboratories, and the University’s research enterprise. In just-ended fiscal 1999, the Patent Foundation handled 154 new technologies and generated nearly $4.2 million in royalties and fees. For more information, call Robert MacWright at 434·982·0378, or contact him at rsm7x@virginia.edu. David Martin may be reached at 434·979·7224 or dem@m-cam.com.