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Universities Report $1.8 Billion in Earnings on Inventions in 2011

from The Chronicle of Higher Education

An article that appeared in The Chronicle of Higher Education contained several errors. This is the corrected version, which shows that revenue, licenses, patents and startups were higher than originally reported. If you read the original article, be sure to read this correction.

Universities and their inventors earned more than $1.8-billion from commercializing their academic research in the 2011 fiscal year, collecting royalties from new breeds of wheat, from a new drug for the treatment of HIV, and from longstanding arrangements over enduring products like Gatorade. Northwestern University earned the most of any institution reporting, with more than $191-million in licensing income. The 157 universities that responded to the annual survey of the Association of University Technology Managers, released on Monday, completed 5,398 licenses and filed for 12,090 new patents. They also created 617 startup companies. The overall revenue figures are about the same as in the 2010 fiscal year, when 155 universities responded. more

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