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Eureka! More Inventions than Ever in 2012
November 26, 2012
The invention culture at the University of Michigan has led to another record-setting year with more agreements than ever before with commercialization partners.
U-M Tech Transfer recorded 123 licenses and options in fiscal year 2012, which ended June 30, compared to 101 in FY11.
Researchers reported 368 new inventions in FY12, another record high, demonstrating the broadened participation of U-M faculty in tech transfer activities. Eleven new start-up 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 start-up 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 reports 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," says 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 new ventures include an alternative energy startup that enhances the performance of wind farms, solar fields, grid-scale batteries, and inverters; a handheld ultrasound device for monitoring the vascular health of dialysis patients; and neural interfaces for prosthetic limbs.