Accelerating innovation is the key to creating more high-wage jobs. And the Commerce Department's National Institute of Standards and Technology (NIST) will play a significant role in helping federal labs and U.S. industry speed up the innovation process under a new Presidential Memorandum issued Oct. 28.
Through its existing role coordinating the Interagency Workgroup on Technology Transfer, NIST will help lead agencies with federal laboratories to develop plans that establish performance goals to increase the number and pace of effective technology transfer and commercialization activities in partnership with non-federal organizations. The group also will be responsible for recommending opportunities to improve technology transfer from federal labs and for refining how tech transfer is defined, to better capture data on all of the ways it happens.
NIST will coordinate development and analysis of appropriate metrics and will continue to report and analyze results through its annual report on technology transfer, which covers 11 federal agencies.
NIST has had its own success transferring technology, for example, one licensed technology is helping build a new confinement structure at the Chernobyl Nuclear Power Plant and another is treating heart arrhythmias and uterine conditions—and generating millions of dollars in revenue for the licensee. Free software from NIST, Building for Environmental and Economic Sustainability (BEES), is helping architects, engineers and the construction industry select environmentally-preferred and cost-effective products.
Read more about NIST’s role in tech transfer in the latest issue of TechBeat.