UT System a Leader in Commercialization Activity
AUSTIN – UT System institutions on average sign a commercialization deal every other day, are awarded two U.S. patents nearly every week and start a new company every two weeks. When it comes to technology – and business activity associated with it – institutions with The University of Texas System in 2008 ranked second nationally in the number of startups created, third in licenses and options executed and fourth in U.S. patents issued, according to data released earlier this year by the Association of University Technology Managers (AUTM).
Institutional totals demonstrate that the UT System is a national leader in terms of technology strength. Besides the three top-five rankings, the UT System was sixth in the number of applications filed for U.S. patents and 13th in the amount of income generated through licensing, AUTM data shows. The 2008 figures are the most recent available.
It is no coincidence that UT institutions have achieved this success, because the commercialization of university discoveries and inventions into the marketplace through innovation, knowledge transfer, entrepreneurship, community engagement and the formation of startup companies is part of their mission statement.
“The UT System prides itself not only on being on the cutting edge of technology, but for being a leader in advancing our discoveries into the commercial arena, where those technologies can benefit society at large,” UT System Chancellor Francisco G. Cigarroa, M.D., said. “These efforts illustrate how significant the UT System’s role is in underpinning the economic well-being of the state of Texas.”
UT System institutions account for most university commercialization activities in Texas. All institutions of higher education report to the Texas Higher Education Coordinating Board (THECB) and according to the 2008 THECB Technology Development & Transfer Survey, UT System institutions represented:
- 76% of university licenses and options executed in Texas
- 81% of new university start-up companies formed in Texas
- 88% of university start-up companies still in existence in Texas
- 100% of university start-up companies still in existence in other states
- 78% of all university intellectual property revenue in Texas
About The University of Texas System
Serving the educational and health care needs of Texans for more than 125 years, The University of Texas System is one of the nation’s largest higher education systems, with nine academic campuses and six health institutions. The UT System has an annual operating budget of $11.9 billion (FY 2010) including $2.5 billion in sponsored programs funded by federal, state, local and private sources. Preliminary student enrollment exceeded 202,000 in the 2009 academic year. The UT System confers more than one-third of the state's undergraduate degrees and educates nearly three-fourths of the state's health care professionals annually. With more than 84,000 employees, the UT System is one of the largest employers in the state.