Survey Reveals Universities’ Impact on Economy, Job Creation
In fiscal year 2008, 595 new companies were formed as a result of university research. In fact, many of the world’s most interesting and important inventions such as Google, Warfarin (coumadin) and FluMist, got their start in a university laboratory. These inventions resulted in products we buy or medications we take because they were patented by the university and then licensed to companies that then brought them to market.
This process is known as academic technology transfer, and you can read the latest, most thorough information about it in the newly released AUTM U.S. Licensing Activity Survey: FY2008. The Association of University Technology Managers (AUTM), a nonprofit association of academic technology transfer professionals, announces the release of the summary report of the AUTM U.S. Licensing Activity Survey: FY2008. The survey summary shares quantitative information about and real-world examples of licensing activities at U.S. universities, hospitals and research institutions.
“The data in this survey show a steady increase in the amount of technology transfer activity,” says Arundeep S. Pradhan, AUTM president. He adds, “this includes more patent filings, new licenses signed and more new startup companies, a good indicator that the Bayh-Dole Act is working as intended.”
In addition to statistics, the report includes success stories that detail real-world contributions from academic institutions including: a discovery that paved the way for the development of a safer, more effective TB vaccine, a new wheat variety that has superior pest resistance and backing quality, an effective oral treatment for radiation exposure, and a new formulation of a chemotherapy drug that reduces serious side effects.
Highlights of the AUTM U.S. Licensing Activity SurveyTM FY2008 include:
•648 new commercial products introduced
•5,039 total license and options executed
•595 new companies formed
•about 72 percent of new companies formed with the primary place of business in the institution’s home state
•3,381 startup companies still operating as of the end of FY2008
•$51.47 billion total sponsored research expenditures
•18,949 total U.S. patent applications
•12,072 new U.S. patent applications
•848 non-U.S. patent applications
•3,280 issued U.S. patents
The Association of University Technology Managers is a nonprofit organization with an international membership of more than 3,000 technology managers and business executives. AUTM members — managers of intellectual property, one of the most active growth sectors of the global economy —come from more than 300 universities, research institutions and teaching hospitals as well as numerous businesses and government organizations.