The University of Minnesota is among the top patent producers in the world, ranking #4 on Scientist Magazine’s list of “Patent Powerhouses,” behind only three other major American universities. Yet, quantity of patents hardly paints the entire picture. What about helping to start up companies to commercialize those patents?
According to the U’s own business development people (see link to Powerpoint presentation at bottom), the 20-year success record of the U’s technology company spinoffs is only half the university average nationally — and less than one-fourth the success record of the nation’s premier schools. What’s more, in one recent year (2004), for example, the U of MN spun off only one company compared to 14 at the University of Michigan and 16 at the University of Illinois. Why I am focusing here on spinoffs? Well, because, according the U’s own business development people, creating university spinoffs is “much more profitable than licensing (revenues)” to the school. … [Read More…]
