The document discusses opportunities and pitfalls in commercializing university research. It outlines the research and development lifecycle and various stages of commercialization from early opportunities to late stage development challenges. Specific opportunities mentioned include the university's knowledge base, applied industry-focused research projects, multiple funding routes, expertise in early stage development, and existing support networks. Pitfalls include lack of business skills, barriers to attracting investment, risks of late stage development, and ineffective decision making around commercialization strategy and formation of university spin-offs.
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