Technology commercialization in entrepreneurial universities: the US and Russian experience

US universities are leading the way in technology commercialization, while universities in Russia lag far behind. This paper discusses the best American practices, as well as the main issues of technology commercialization at the US universities. As an example, we consider the experience of the University of Maryland, College Park. In the next section, we turn to technology commercialization in Russia, where it struggles for several reasons. In this paper, we propose that Russia can improve its technology commercialization by studying the example of the leading US entrepreneurial universities and implementing proper procedures. And the important overarching point is that Russian universities need to improve their collaboration with industry, and they need to develop new standards of administrative, research, and business activity that will promote innovation and entrepreneurship.