U of M research and tech commercialization continue breaking records, climbing in national rankings
For the second year in a row, the University of Minnesota’s research enterprise exceeded $1 billion in competitively earned sponsored research awards.
The University’s new Vice President for Research Shashank Priya will share this and other details, including the University’s ranking among the nation’s top 15 public universities in research expenditures, with the University’s Board of Regents next Thursday.
“The University of Minnesota’s research enterprise is unlike any other in the state,” Priya said. “Our faculty and research teams do impressive and world-class work that makes the U of M one of the nation’s elite in many critical research measures, including how effectively our discoveries are brought directly to Minnesotans and people around the world.”
A new standard was set in FY2021, during which the University surpassed $1 billion in competitively earned sponsored research awards for the first time in its history. The FY2022 report shows the University once again exceeded that impressive mark. In his Board presentation, Priya will also highlight the record number of startups created (22) and patents issued by U.S. and foreign authorities to University inventors (241) during FY2022, a year that also included the U of M spinning off its 200th company.
One of the five core commitments in MPact 2025, the University’s systemwide strategic plan, is focused on discovery, innovation and impact. These results indicate continued strong progress toward that commitment and specific goals outlined in the plan, such as creating 25 startup companies annually by 2025. During his presentation, Priya will also lay out new initiatives to further drive the growth and impact of the University’s research enterprise.
Though many of the statistics in Thursday’s report were released earlier this fall, Priya’s presentation provides the first public opportunity this year for the Board to discuss the continued success of the University’s research and tech commercialization enterprises, as well as strategies for maintaining and building on the U of M’s status as one of America’s leading research universities.
As part of its December meetings, the Board is also expected to:
- Act on four collective bargaining agreements covering Teamsters Local 320, AFSCME Local 3260, AFSCME Locals 3800 and 3801, and AFSCME Locals 3937 and 3801.
- Act on amendments to Board of Regents Policy: Commercialization of Intellectual Property Rights after reviewing the proposed language with Priya and Rick Huebsch, executive director of the U of M Technology Commercialization team, in October.
- Discuss progress toward MPact 2025 enrollment goals with UMD leaders, the third in a series of discussions with the University’s five campuses.
- Review President Joan Gabel’s Recommended 2023 State Capital Request.
- Act on a proposed real estate purchase of 325-329 14th Ave S.E. in the Dinkytown area of Minneapolis via a new LLC.
- Review potential enhancements to the Board’s public engagement approach, which follows a series of committee discussions on the topic.
- Elect a new vice chair for the Board of Regents who will serve through June 30, 2023.
- Review the University’s annual performance and accountability report, as well as updates on MPact 2025 measures, with Gabel and Executive Vice President and Provost Rachel Croson.
- Discuss public safety on the Twin Cities campus.
- Receive the report of the Faculty Consultative Committee (FCC)/Senate Consultative Committee (SCC) from FCC/SCC Chair Colleen Flaherty Manchester.
- Learn about a potential new rural health academic partnership with Jakub Tolar, dean of the U of M Medical School and vice president for clinical affairs.
- Review recommendations from the Eastcliff Property Task Force.
- Act on employment agreements for Jamie Darin Prenkert, the newly appointed dean of the Carlson School of Management, as well as for Gopher Football Head Coach P.J. Fleck and some of his staff.
For more information, including future meeting times, visit regents.umn.edu.