University of Utah tops list for start-up businesses
SALT LAKE CITY — Research and marketing has landed the University of Utah at the top of the list for universities that create start-up businesses. The new ranking from the Association of University Technology Managers knocked the Massachusetts Institute of Technology off the top spot.
The rankings for 2009 show Utah with 19 new companies ranging from medicine to energy development. The U of U was able to develop all of that while spending 75 percent less than MIT. Director of the Technology Commercialization Office, Brian Cummings, said the achievement required a major shift in goals and organization.
“This started a number of years ago, so we were able to hit the ground running when the economy was taking a downturn. I guess we invested at the right time and it’s paid off for us very well,” he said.
The University of Utah’s program helps faculty, students, and investors collaborate to create marketable products. The faculty files 200 inventions every year, many receiving patents. Cummings says the university emphasizes pushing the research beyond journals and into production.
“This has become a driving force for the nation. So if we’re really looking at our universities because they get all these billions of research dollars to start new companies, to create new jobs and keep the U.S on top, we really have to invest in this business model,” he said.
Since the U of U focused on marketing its research it has spawned more than 100 companies. Nationwide, universities created 596 new companies in 2009.
December 21, 2010
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Posted by Evie Gant
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