An annual survey of 195 universities, hospitals and other research institutions nationwide shows that more than ever, academic research is fueling impressive gains for local, state and national economies, with the formation of a record 1,024 startup companies in 2016, according to findings in the Association of University Technology Managers’ (AUTM) 2016 Annual Licensing ActivitySurvey.
Among the key findings of the report:
- The number of invention disclosures–a direct measure of institutional impact on innovation–has been on the rise the past five years, reaching 25,825 in 2016.
- 16,487 new U.S. patent applications were filed, a gain of nearly 3.4 percent, and 7,021 U.S. patents were issued in 2016, up 5.1 percent, as research institutions invest and protect intellectual property arising from academic research.
- A record 1,024 startups were formed, making a direct impact on local economies, with more than 73 percent of the new businesses remaining in their institution’s home state.
- Consumers and businesses benefited from 800 new products.
Every year, universities around the globe develop inventions–more than 380,000 in the last 26 years–that have real-world, sometimes life-changing, applications. These innovations are licensed by university technology transfer offices to companies for commercialization, and are the genesis of thousands of new companies, resulting in both benefits to society and solid economic wins.…Read More