Academics should not fear industry involvement, says Canadian prof

Academic researchers need a bit of encouragement to take the plunge into biotechnology, according to visiting University of British Columbia professor and biotechnology company founder Bob Hancock.

But opportunities for involvement in the industry ranging from contract research and consulting to founding companies were available, and researchers should not be deterred by anti-industry attitudes, he said.

"Industry needs academia and academia needs industry," Hancock said.

Hancock was in Victoria this week to speak at Commercialise 2003, an event put on by the Australian Institute of Commercialisation and Victoria's Department of Innovation, Industry and Regional Development (DIIRD).

"You need to have a few positive experiences to encourage it," he said. "From my experience, the biggest bottleneck in developing technology is convincing researchers that it is reasonable to do this."

Hancock said UBC had developed a strong culture of commercialisation, and was ranked third in North America at spinning out companies.

For his own part, he has founded four biotechnology companies based on his research into mechanisms of innate immunity, and is still actively involved with three of them, in addition to maintaining an active research career.

According to Hancock, conflicts of interest are manageable by declaring any conflicts up front and adopting a hands off approach when conflict is apparent.

"When conflict comes up I leave the room," he said.

Hancock said founding a company required active participation by the scientist, and recommended that researchers thinking about founding a company based on their research should talk to experienced players in the field to get an idea of what is in store for them.

His other piece of wisdom involved choosing management appropriately, to minimise friction between the company and the researcher.

"I find it tremendously useful, before hiring anyone, to work with them for a period of time," Hancock said.