Officials at the University of Michigan Office of Tech Transfer like to say that they are striving for more quality start-ups rather than more stats. That doesn't mean they can't do both.
The university recorded 101 license and options for its technology in the fiscal year ending on June 30. That's more than any other previous year. U-M researchers also recorded 322 inventions and filed for 122 patents. U-M also helped launch 11 start-ups that utilize technology originating in university labs.
"Doing more is good," says Ken Nisbet, executive director of
University of Michigan Office of Tech Transfer. "But doing more high-quality agreements is better. We strive for that."
U-M Tech Transfer is also focusing on helping guide these start-ups from initiation to acquisition. A key part of that transition is its new Venture Accelerator at the North Campus Research Complex. The Venture Accelerator provides lab and office space, along with other business development resources for U-M start-ups. So far 10 start-ups are occupying the space, including some venture-backed firms.
"We're doing things to complete the opportunity, to package it and make it attractive for people to invest their time and money," Nisbet says.
U-M recorded $16 million in tech transfer revenues, which include royalties and equity returns. These revenues are reinvested in research and education. U-M's total research spending hit $1.24 billion last year.
"Our pipeline is very strong," Nisbet says. "We have great people and great research."
Source: Ken Nisbet, executive director, University of Michigan Office of Tech Transfer
Writer: Jon Zemke
Read more about Metro Detroit's growing entrepreneurial ecosystem at SEMichiganStartup.com.
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