Elements of an Effective Research Project
- The research is ambitious and highly challenging.
- The research results generate value for both the sponsor and MIT.
- The planning and management of the research (as governed by the research agreement) recognize these characteristics and anticipate how both parties may derive value from the research.
Highly Challenging Research
Ambitious and highly challenging research projects:
- Have a potentially important and long-term impact
- Advance the frontiers of present knowledge
- May yield unexpected outcomes and thus require flexible management
- Are complex, often requiring multidisciplinary teams
Value for Both Parties
A sponsor’s primary objective in sponsoring research at MIT is to gain knowledge that allows the company to incorporate innovative technologies into its products and services, build new competencies, and/or increase productivity.
MIT’s objectives are to advance the scholarship of MIT faculty and scientists, train students for careers, and enable further cutting-edge research.
Impact of Research Results on Markets and Society
MIT and sponsors both want research results to generate new products and services in the market, thereby benefiting society through economic growth and the advancement of knowledge.
Formula for Sharing Success
MIT furthers its goal of benefiting society by licensing sponsors to commercialize inventions generated during the research they sponsor. If an MIT invention enables a sponsor to bring a new product or service to market, MIT shares in its successful research by receiving a modest royalty. MIT’s royalties are shared with its inventor(s) and are reinvested in future research.
Planning, Management, and Agreement
- Before a research agreement is drafted, the sponsor and MIT’s principal investigator should reach consensus on the area of research interest, the project plan, the budget, the schedule, the communication of results, and the respective contributions of both parties.
- Both parties should identify internal champions and relationship managers for the project.
- An agreement then can be drafted that defines the project and serves the respective interests of both parties.