U of M Releases Technology Commercialization Data for Fiscal Year 2022

The University of Minnesota released new statistics on its technology commercialization successes covering fiscal year 2022, including a record number of new companies created (22) and patents (241) issued by US and foreign authorities to university inventors. These results reflect the University’s continued strength in meeting the research-related goals of MPact 2025, the University of Minnesota’s system-wide Strategic Plan.

“Next month we will release data showing that for the second year in a row, the University has competed and won more than a billion dollars in research systemwide. With these results, it is not surprising that our technology commercialization efforts continue to be successful”, said the rector of the University, Joan Gabel. “Technology commercialization is not just about numbers, it is about seeding the competitive American economy with the research and tools that will drive our economy, creating job growth and success for our citizens, both here in Minnesota and across the United States” .

President Gabel serves on the US Council on Competitiveness as Vice President for Higher Education and, in that role, promotes and reviews the impact of Higher Education research in driving the US economy. MPact 2025 calls for 25 start-ups a year by 2025. In fiscal year 2022, the University launched 22 companies, well on track to meet the 25-company goal.

Frank Jaskulke, vice president of intelligence and head of Medical Alley Starts at the Medical Alley Association, a Minnesota health care industry trade group, agreed with Gabel’s assessment. “The start-up and licensing activity of the University of Minnesota makes a difference in the growth of the Medical Alley ecosystem,” he said. “Our biotech, digital health and medtech clusters are growing faster and faster because of their work, especially with a record 22 startups this year.”

Data: Office of the Vice President for Research, University of Minnesota

“Our work helping launch startups really shined this year, and we are proud to surpass a milestone of 200 startups created since the formation of our Venture Center in 2006 and end the year with a record number of startups based on inventions from our faculty. . and staff,” said Rick Huebsch, executive director of the University’s Office of Technology Commercialization. “We are developing more high-quality companies at a higher rate, investing additional resources and working with potentially dozens of companies outside of the University in partnership with the state’s Launch Minnesota program.”

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U of M startups in FY2022 remained highly diversified across sectors of the economy, as indicated in the table and chart above. The 212 businesses created since 2006 have a 77% survival rate and 71% of the businesses have been located in Minnesota.

The Venture Center also released the results of its regular survey of U of M startups. Total investment in U of M startups is approaching $2 billion, a substantial increase ($650 million) from 2019, a remarkable growth rate given the challenges of the global pandemic. The $1.8 billion invested reflects 210 companies and is made up of $1.1 billion in seed money and $675 million from initial public offerings and acquisitions. Ten university companies have been acquired or listed on the stock market since 2017.

The record level of issued patents shown in the table below is the result of the quality of patent applications from university inventors, as well as patent offices around the world, recovering from a backlog created by the pandemic. According to Huebsch, the University is also including more foreign applications in its patent portfolios to access markets beyond the United States.

“We saw a drop in patent disclosures in fiscal years 2021 and 2022, which is the first step faculty inventors take to protect potential new inventions, and that reflected the disruption to research at the University caused by the pandemic. Huebsch said. “That said, we really did ‘shake the trees’ in the last two years to make sure that professors and other researchers kept disseminating and then developing new innovations. It has been gratifying to see our research enterprise recover and to see U of M’s research creativity again generating many new ideas.”

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Data: Office of the Vice President for Research, University of Minnesota

The University also reported other standard technology commercialization metrics, such as licenses, patent applications, and revenue, as reflected in the table above. New licenses and gross receipts were down slightly in 2022, a reflection of the weaker economy, as the United States in particular struggled with a slowing economy.

Annual technology transfer statistics reflect the flow of transactions from year to year and are subject to significant volatility, so comparisons with other leading universities provide useful context for the University’s work:

  • According to AUTM, the technology transfer trade group, U of M was among the top 15 US public research universities in fiscal year 2020 based on five key measures.
  • The University of Minnesota was ranked 18th in the world Among USA Awarded Universities utility patents according to the National Academy of Inventors, based on 2020 statistics.
  • A 2022 report by think tank Heartland Forward ranked the University of Minnesota Twin Cities first for technology transfer within the Mid-20-state region and fifth among all US public universities.

“We are fortunate to have such a strong research university in Minnesota that understands technology commercialization so well,” said Steve Grove, Minnesota Commissioner of Employment and Economic Development. “The University of Minnesota is a key part of our state and regional startup ecosystem, and the direct partnership we have through Launch Minnesota helps us better leverage our state’s economic strengths.”

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