Record Year Of Inventions At U-M Tech Transfer
By Edward Cardenas
ANN ARBOR (CBS Detroit) - The University of Michigan Tech Transfer announced Monday that it recorded a record year of inventions, agreements and start-ups.
These discoveries and advancements came from engagement with companies large and small, officials stated.
"It is gratifying to see these record-setting metrics for, not just one, but several indicators of tech transfer performance," said Ken Nisbet, associate vice president for research–technology transfer, in a release. "This is a reflection of the creativity of our researchers, the resourcefulness of our tech transfer team, and the contributions from our partners in the university, business, government and entrepreneurial communities."
U-M Tech Transfer recorded number of advancements in fiscal year 2014, the university reported. Researchers reported 439 new inventions in fiscal year 2014, which is up from last year's 421. Additionally, U-M Tech Transfer also recorded 148 option and license agreements compared to 108 agreements a year ago. There was also 14 start-ups launched, which brings the total number of businesses launched in the past five years to 55.
An example of the companies working with U-M include Wilson Sporting Goods Co. which licensed wireless motion sensor technology for sports equipment, and Michigan Aerospace licensed technology that can be used to predict ice formation for airborne and ground applications.
Start-ups at U-M, including Mia Motors and others, are launched with the guidance and resources of Tech Transfer's Venture Center. These start-ups include Mia Motors which makes energy storage and wireless charging systems for electric vehicles; ONL Therapeutics, which is developing therapeutics for retinal diseases; and Court Innovations, creator of online guided negotiations between courts and citizens.
Additionally, there were 132 U.S patents were issued to the university in the past fiscal year, which is up from 128 in FY 2013. There was also $18.5 million in licensing revenues received, up from $14.4 million in the last fiscal year, which provided additional funds to reinvest in research and innovation.
"With more than $1.3 billion in research expenditures annually, U-M is one of the world's leading research universities," said S. Jack Hu, U-M's interim vice president for research, in a release. "These results in technology transfer highlight not only the growing productivity of our faculty in generating innovative ideas through their research, but also our ongoing commitment to making sure that these ideas will benefit our state and nation in the form of new or better products, processes and services."
U-M Tech Transfer is the University organization responsible for the transfer of University technology to the marketplace
