Professor. Moreno, López, Ulysses, Head of Business Incubator, CETYS University System, Mexico 

Higher education institutions play a crucial role in generating knowledge and basic science, which can be applied in various economic sectors and contribute to economic, technological, and social stability and sustained growth. This can have a significant impact on stakeholders such as academics, universities, and the wider community. By fostering an environment that encourages innovation and entrepreneurship, universities can create models that link basic and applied research and support the development of high-impact ventures that are protected through intellectual property.

Universities can create  favorable environments for innovation and entrepreneurship by implementing policies and programs that encourage research and development, and provide protection for intellectual property. This can provide an incentive for researchers, technology and research centers, as well as the student body to develop and commercialize their ideas.

Intellectual property protection, granted by the World Intellectual Property Organization (WIPO) and their national offices, plays a crucial role in the development, growth, and consolidation of new ventures and technologies. Basic research is essential in advancing knowledge across various fields, but applied research that results in practical solutions to pressing global problems such as access to water, sustainable agriculture, and universal health is equally important. By developing successful models that transform their research and development process, universities can contribute to the creation of new high-impact technologies and companies that can be globally marketed.

Patents have transactional value, as they serve as useful instruments in obtaining finance or in agreeing to licenses. They often form the basis of technology transfer or sharing arrangements, including patent pools. The charges for the use of intellectual property, as reported in the «Balanced Data on International Trade in EBOPS services,» amounted to an average of 382, 692 billion dollars worldwide between 2016 and 2019. This figure is comparable to the total exports of countries like India, Australia, Vietnam, Spain, Switzerland, Poland, United Arab Emirates, and Mexico.

The integration of technology and the digitization of economies has led to an acceleration of economic growth, with a 6% increase in the field of technology in the past five decades. It is crucial for higher education institutions to promote their innovation and entrepreneurship ecosystems to take advantage of this growth and contribute to the creation of new products and services that solve pressing global problems and are commercially viable.

All in all, higher education institutions have an important role to play in promoting economic stability through intellectual property. By fostering an environment that supports innovation and entrepreneurship and providing protection for intellectual property, universities can contribute to the development of high-impact ventures and technologies that have a significant impact on the economy and society. It is essential for universities to support and promote the development of their innovation and entrepreneurship ecosystems to ensure their continued growth and impact.