Key Focus
MATRIC is focused on applied research and on developing the resulting intellectual property
to yield marketplace-ready products and services. MATRIC's Commercialization and Economic Development Office conducts economic
assessments to forecast the economic impact of commercialization to determine the merit of a concept. The office is working with
foundations and agencies to develop the infrastructure required to commercialize intellectual property. Included in the infrastructure
are model license agreements, model incorporation documents and operating agreements, and model seed, angel and venture capital
data packages. MATRIC is also developing significant relationships with investors both internal and external to the state.
Developing New Business and Industry
MATRIC will create new business and industry through the development of a vital and growing research organization, which in and of itself will be a major factor in the economy. However, the hundreds or even thousands of jobs that can potentially be created within the MATRIC organization may be dwarfed by the wealth created in local businesses that will utilize MATRIC technology.
Through licensing and other mechanisms, MATRIC will refresh the technology base of regional businesses, allowing them to grow and expand. Furthermore, MATRIC's applied research will lead to the creation of new businesses around cutting-edge technologies, such as medical devices, polymers and software.
Resulting Economic Development
MATRIC's economic development efforts ultimately can be a catalyst for new business creation—a pressing need in the region. Existing local businesses can also utilize MATRIC's expertise and R&D to move innovative, high-value products and services to market, primarily through MATRIC’s MCR subsidiary. Relationships with business partners, entrepreneurs, venture capitalists, and leading experts in identified markets are central to this effort and remain a priority for the commercialization office.