A review of performance standards to monitor, evaluate and assess the impact of technology transfer offices

The conversion of scientific discoveries to new products and processes and their launch onto the market can be a lengthy process. Similarly, it takes many years before the impact of scientific research on society and the economy is realised and a further length of time before its performance can be measured. Higher education and research institutions, and their governments, often make significant investments into intellectual property management and technology transfer activities through legislative and policy development, human resource development, financial allocation and infrastructure improvement. Since returns on such investments are not immediately apparent, it is important to establish a means by which the impact of their efforts can be determined. In this paper, I examined the measures and indicators that could be developed by institutions and their stakeholders in order to monitor, evaluate and determine the impact of research output and outcomes on the market.