The New Mexico Technology Marketplace is an online database of Licensable Technologies. Each of these remains owned by Universities, Laboratories and New Mexican Inventors. We talk to the inventors involved in the creation of the innovation. We want to hear their aspirations and goals involved in creating this work. We work closely with experts from various fields to evaluate each innovation on its own merit. We evaluate them first with scientists or engineers, and then we evaluate them again with a business specialist.
We then work with our partners to identify the industries best served by the innovation. Every technology is given a grade based on an evaluation of its strengths. Is it market ready? Is there a market need? How much time will it take to get to market? How large is the market for this? What percentage of that market could be reasonably estimated to request this? Is this a completely unique idea or is an improvement on an existing one? And lastly, and most importantly, what is the overall coolness of the idea?
It is estimated that as much as 90% of licensable technologies never reach the market. There are at least two reasons why this happens. The first is that the person or entity that developed it never introduced it to the market. The second is that it was not an idea that the market wanted. We can't help with the latter, but the former is our concern. We think American ingenuity is fantastic, and that great ideas deserve great exposure to the world. We say that’s amazing lets tell the world!
As already stated it is estimated that as much as 90% of licensable technologies never reach the market. That's a lot of potential money left on the table. An article on universitybusiness.com points out, "In 2013, 84 percent of university technology transfer offices didn’t generate enough revenue to pay their own operating costs, says a November 2013 Brookings Institution study, “University Start-Ups: Critical for Improving Technology Transfer.”