Building great new businesses through value creation
Maastricht University (UM) and Maastricht University Medical Center (MUMC+) focus on excellence in research and education but also on the utilization of their academic research and how it impacts society. This strategy is called valorisation, and is defined as:
"The process of creating value from knowledge by making it applicable and available for utilization for economic or societal purposes, and by translating it into new businesses, products, services, or processes."
There are many ways knowledge may be transferred. This may be done through mentoring, training, documentation, collaboration or any other form of interaction between individuals and groups. Forms of knowledge transfer that are more directly related to universities include publications, students who have graduated and are entering the workforce and presentations at conferences. This type of transfer creates impact by making knowledge and expertise available for other organizations and the general public. Another way of making an impact is by commercializing an invention through means such as spin-off companies, licensing intellectual property to industry or partnerships with industry on research projects.
The Brightlands Maastricht Health Campus focuses on valorisation in its broadest sense in order to:
- Ensure that no knowledge or research expertise is lost
- Make sure that society can benefit from the results of excellent scientific efforts
- Increase employment opportunities by starting companies or attracting third parties
- Generate funds to facilitate more and better research
- Improve the reputation and value of the region, center, institutes and scientists.