The ideas Quantum Technology Group are developing are dynamic, like Teradyne Technologies’ compact detection system that can scan for plastic explosives and diagnose skin cancer.
Commercializing such a technology, however, requires more than just research. It’s why Ben Franklin Technology Partners of Southeastern Pennsylvania recently made a significant investment in Quantum through a partnership that will target the development of strategic intellectual property created by Drexel University and other universities and scientists.
“In commercializing cutting edge technology, there is potential for a disconnect between the technology path envisioned by the scientist and the ultimate commercial need of the industry,” says Lothar Budike, Quantum’s founder and managing director.
With the investment, Quantum will be able to drive its first five companies, including Teradyne and ranging from next-generation solar cells to advanced microscopy and materials, to market. Budike says Quantum, founded in early 2007, will grow from three employees to 25 over the next 36 months at its operations near BFTP-SEP’s primary offices in the Building 100 Innovation Center at the Philadelphia Navy Yard.
Quantum signs a commercialization agreement with a university and conducts an extensive study of their technology platforms and patent portfolios. It then benchmarks each platform into categories: Market Industry Size, Application Focus, Technology Readiness Level and Intellectual Property. Quantum assesses them and chooses which platforms are ripe for commercialization with commercial sponsors or government programs.
Quantum also has a team of about 60 well-recognized scientists throughout the country it leans on to assess technology challenges in the development effort.
“It mitigates the risk for investors,” Budike says.
Source: Lothar Budike, Quantum Technology Group
Writer: Joe Petrucci
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