University of Michigan issued the following announcement on Sept. 9.
The University of Michigan launched a record 31 startups in fiscal year 2020, a 40% increase during a period that included a pandemic and temporarily shuttered labs.
U-M inventors went to market with a wide range of discoveries, including those from a company using machine learning predictive modeling to help cities like Flint replace their lead-tainted water pipes to another that pivoted from prostate cancer screening to rapid COVID-19 testing during a global health crisis.
U-M researchers reported a rise in new inventions, with a record 522 for the fiscal year that ended June 30—up from last year’s 502.
“The launch of 31 new startup companies last fiscal year is a testament to the strength and resiliency of the university’s growing innovation ecosystem,” said Kelly Sexton, U-M associate vice president for research-technology transfer and innovation partnerships.
“This record-breaking growth in startup formation is important in 2020 because these new companies will be meaningful contributors to the growth and diversification of our state’s economy as we work to rebound from the challenges presented by the COVID-19 pandemic.”
U-M Tech Transfer also reported 163 issued U.S. patents in fiscal year 2020, down slightly from 171 in fiscal year 2019. It also signed a record 268 license and option agreements with companies seeking to commercialize the discoveries of university researchers in the past fiscal year—up from 232 in FY2019.
Original source can be found here.
Source: University of Michigan
Alerts Sign-up