Research funding is scarce and while there is a technology transfer office(or something similar) in most universities, the process of commercialization is done by a small percentage of faculty(at least this is my perception).
Some people might object to the concept,since it is not research for its own sake but for the purpose of commercial interest.
My own personal view is that this approach may give researchers extra funds to continue their own interests and it is a minor sacrifice to make in order to reach sustainability(granted that the funds go to your department or reserved for further research).
Does this seem a viable approach to funding in your university? Would you object to this view?