What is meant by the valorisation of knowledge?
Whilst traditional technology transfer has long focused on applying research findings in practice, the concept of ‘knowledge valorisation’ is now increasingly taking centre stage. The aim is to derive the greatest possible social and economic benefit from knowledge. This involves not only the commercialisation of research findings, but also the exchange of knowledge with various stakeholders from different sectors of society.
The term “knowledge valorisation” describes the process of creating social and economic value from knowledge. To achieve this, different fields and sectors are linked together, and data, expertise and research findings are transformed into sustainable products, services, solutions and knowledge-based policy measures.
The term has become established in recent years within the European Union’s research and innovation policy to promote the translation of research findings into tangible benefits for the economy and society. Unlike traditional knowledge transfer, which often focuses on technology and commercialisation, knowledge valorisation takes a broader approach that also takes social and environmental aspects into account.
The European Commission has developed four Codes of Practice for knowledge valorisation to support the implementation of the guiding principles. These codes are:
- Code of Practice on the Management of Intellectual Assets: This code provides guidelines for the effective management of intellectual assets in order to maximise socio-economic benefits.
- Code of Practice on Standardisation: This code emphasises the importance of standardisation as a channel for the exploitation of knowledge and promotes the involvement of researchers in standardisation processes.
- Code of Practice on Industry-Academia Co-creation: This code promotes collaboration between industry and academia to jointly develop innovative solutions.
- Code of Practice on Citizen Engagement: This code focuses on the involvement of citizens and civil society in the development and implementation of innovative solutions.
These codes are intended to support the implementation of the guidelines for knowledge valorisation at national, regional and local levels.