BU Takes First Step Towards Strategic Agreement on Technology Patents (October 20, 2015)
BU signed a memorandum of understanding with Invention Development Management Company (IDMC) and Intellectual Property Solutions of Intellectual Ventures (IV), a $6 billion patent fund, towards a strategic agreement to cooperate on patenting and research regarding technology projects conceptualized at the university.
Present at the signing ceremony were President Gülay Barbarosoğlu and Edward Jung, co-founder of several Microsoft teams and the founder and Chief Technology Officer of the $6 billion technology fund, Intellectual Ventures.
According to the agreement, IDMC and Intellectual Property Solutions of Intellectual Ventures will cooperate with the University in the implementation of the University’s technology projects and relevant work on patents.
In the statement she made during the signing ceremony, President Gülay Barbarosoğlu pointed to the significant and speedy transformation that has been taking place in Turkey in the areas innovation, technology and product development in recent years. Barbarosoğlu said that BU’s cooperation with Intellectual Ventures would open a new window for Turkey. Edward Jung, on the other hand, expressed his belief that its young and educated population, and historical and cultural accumulation, will make Turkey geographically the world’s new innovation center.
Within the framework of the cooperation agreement, the parties will exchange researchers and academicians, conduct joint scientific studies, and share scientific and technical information; they will also coordinate the participation of academicians, scientists, researchers, Master’s and PhD degree students from BU and Silicon Valley in individual and joint projects to be developed at different times. The agreement also supports joint seminars, conferences and other professional meetings on such topics of priority as life sciences, clean technologies, financial technologies, information and communication technologies (ICT), and environmental chemistry.
About Intellectual Ventures:
Intellectual Ventures (IV), a company that has invested $2.4 billion in innovation, was founded as a special partnership by Edward Jung in 2000. The company that transformed investment into a profitable business has a capital of $6 billion today and owns over forty thousand intellectual property assets (patents), representing the world’s fastest growing intellectual property portfolio. Among the investors of Intellectual Ventures are companies included in the Fortune 500 list, various individuals and institutions.