Turning Research into Startups
Technology commercialization turns research breakthroughs into startup companies that improve our health, environment, and quality of life.
At the University of Minnesota, researchers are developing inventions that will tackle some of society's greatest challenges. Just this past year the Venture Center at the U's Office for Technology Commercialization formed a record 16 startup companies based off the research and inventions of U of M faculty—topping the previous record of 15 companies in 2014. That's 84 startups since the Venture Center formed in 2006.
"It's exciting to see University research leave the lab and be applied on a larger scale to solve societal problems," says Brian Herman, the U's vice president for research.
The 16 new startups range from Flipgrid, a platform allowing individuals to engage in video-based dialogues organized by topic, to a cancer therapy developed from a plant extract and learning assessments that monitor infant development.
Creating startup companies is just one way the University transfers its intellectual property to the market. The U also licenses technology to existing companies and allows companies to sponsor new research through the Minnesota Innovation Partnerships (MN-IP) program.