U-M Sets Record for Industry Licenses
The University of Michigan (U-M) set a record last year with 173 license and option agreements with companies seeking to commercialize discoveries made by university researchers.
"It is gratifying to see this record-setting number for our most important metric in tech transfer performance," says U-M associate vice president for research-technology transfer Ken Nisbet.
"It reflects the deployment of U-M inventions into the marketplace where they can have positive benefits for the general public." During the last fiscal year, U-M's Tech Transfer Venture Center saw 135 patents issued and brought in a total of $23 million in revenue from licensing. In addition, there were 428 new inventions developed last year, up from 422 the previous year.
"Our continuing success in technology transfer is a measure not only of the creativity of our faculty, but also of the growing strength of our relationships with industry," says U-M vice president for research S. Jack Hu.
Source:From the article of the same title. Detroit News (10/03/16) Kozlowski, Kim