The invention culture at U-M has led to another record-setting year with more agreements with commercialization partners than ever before.
U-M Tech Transfer recorded 123 licenses and options in fiscal year 2012, which ended June 30, compared to 101 in FY11.
Dr. Rick Weitzel (right), professor of internal medicine, discusses a device he invented to monitor the vascular health of dialysis patients. Weitzel was among the U-M faculty members and researchers featured at Celebrate Invention at the Michigan League Oct. 18. Photo by Scott Soderberg, Michigan Photography.
Researchers reported 368 new inventions in FY12, another record high, demonstrating the broadened participation of U-M faculty in tech transfer activities. Eleven new startup ventures, eight of which are headquartered in Michigan, were launched in FY12 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 101 U.S patents were issued in FY12, and $13.4 million in licensing royalties were received, providing funds to reinvest in research and innovation.
“We’re proud of these results that reflect on the high caliber of our research and researchers and the work of our business and venture partners,” said Ken Nisbet, executive director of U-M Tech Transfer. “These results, and our investments in capabilities, demonstrate our university’s commitment to the economic progress for our region and state.”
The university recognized the accomplishments of faculty and researchers engaged in the technology transfer process at the 12th annual Celebrate Invention reception Oct. 18. The event featured eight technology kiosks showcasing new university technologies and startups, complete with the associated researchers and business teams providing hands-on demonstrations.
“We are fundamentally committed to helping society realize the benefits of our research by encouraging the transfer of new ideas from our laboratories to the marketplace,” said Stephen Forrest, vice president for research.
