Licensing Dollars Boost Higher Education's Bottom Line
Academic researchers, who spend hours toiling away in laboratories and libraries, can be credited for more than just academic gains, according to the latest survey of the Association of University and Technology Managers. Each year the association tracks how much money colleges, universities, and other institutions are being paid in licensing revenue. These types of agreements can cover everything from Stanford University's Google-related licensing income, to the University of Massachusetts's "gene-silencing" technology, which is expected to be used to help fight diseases.
The latest AUTM survey, which covers 2004, shows a "continued steady growth" in such revenue, says Ashley Stevens, AUTM's vice president and the survey's editor. The most dramatic survey result shows that the number of new companies launched on the basis of academic research grew by 25 percent in 2004. The latest result ends two years of declines. In all, U.S. institutions, which include research hospitals, executed 4,800 new licenses, or options, in 2004, up 6.1 percent from the prior year.
U.S. colleges and universities collected a total of $1.034 billion in revenues from licensing technologies, which include new drugs, internet advancements, and architectural products. A full copy of the report is available at www.autm.net. --J.M.A.