In a case where industry is the one that posed the problem and the academic institution, be it a college or university, develops the solution, industry is part of that on day one. It would have the commercialization plans. In a case where it's an academic discovery that has commercial potential, the university would have to bring in industry to see how far from market it is and what the technology readiness level is. I think that would be the responsibility of the technology transfer office at the university. In the college sector, the companies are coming through the door with the problem they need solved, so it's already at that point where they see a market opportunity and they just need that solution to get it to the customers waiting with cash in hand.
On November 6th, 2012. See this statement in context.