U-M inventors report record number of new inventions
ANN ARBOR—University of Michigan researchers reported 421 new inventions in fiscal year 2013, a new record that shows the growing engagement of faculty in tech transfer activities.
U-M Tech Transfer also recorded 108 licenses and options with existing and new businesses in FY13, which ended June 30, compared to 123 in FY12.
Nine new startup ventures were launched in FY13 with the guidance and resources of Tech Transfer’s Venture Center. The Venture Center, a one-stop hub for entrepreneurs and investors looking for startup opportunities based on U-M research, has launched 98 new companies in the last 10 years, an average of one every five weeks.
The university also reported that 128 U.S. patents were issued in FY13, up from 101 in FY12. Licensing revenues increased from $13.8 million to $14.4 million, providing funds to reinvest in research and innovation.
“It was another robust year of tech transfer activity,” said Ken Nisbet, associate vice president for research–technology transfer. “This is a reflection of the high quality of our research discoveries, the effectiveness of our tech transfer team and our productive relationships with our industry, venture and community partners.”
The university will recognize the accomplishments of faculty and researchers engaged in the technology transfer process at the 13th annual Celebrate Invention reception 3-6 p.m. Oct. 23 at the Michigan League Ballroom. As in years past, the event will feature eight technology kiosks showcasing a selection of new university technologies and startups, with the associated researchers and business teams providing hands-on demonstrations.
“This event is a great opportunity to highlight the creativity of the U-M research community and its commitment to the economic vitality of our state and our region,” said Stephen Forrest, U-M’s vice president for research. “As a university, one of our key goals is draw on the ideas, insights and expertise emerging from our research enterprise to nurture the processes of innovation and entrepreneurship that drive our nation’s economy.”
Admission to Celebrate Invention is free, but registration is required: http://www.techtransfer.umich.edu/registration
- U-M Tech Transfer: http://www.techtransfer.umich.edu