Banking Those Good Ideas - Plans for Establishing an Intellectual Property Centre in Orkney

Time spent at a top American business school gave Gareth Davies a big idea – for a "bank" for good ideas modelled on a successful institution based in Cambridge, Massachusetts.

Now Dr Davies is investigating the possibilities of creating a similar intellectual property centre in Orkney.

It would serve as a safe depository for ideas and innovations that could speed the development and deployment of renewable energy technologies.

Earlier this year, the Aquatera managing director won a prestigious scholarship from Highlands and Islands Enterprise to study entrepreneurship and innovation at the Sloan Business School at MIT, the Massachusetts Institute of Technology.

"It was apparent that their intellectual property centre served as a powerful engine for innovation and invention within the university," he said.

"Those who came up with good ideas could "bank" them safely. And entrepreneurs and business leaders could access and make use of those ideas – in ways that rewarded the ideas people with the appropriate recognition and remuneration."

As a growing cluster of developers search for ways to harness the power of the sea, Dr Davies believes the time is right to establish an Orkney-based intellectual property centre.

"As we work to overcome the challenges involved in new energy systems, particularly marine renewables, many ideas are being generated for technologies, for deploying those technologies, and for ancillary equipment and services.

"Among them are the solutions that will make this new industry successful. I can see many advantages in having a centre that puts the people with ideas in touch with those who’re seeking to make innovative technologies like marine renewables work."