Indiana University Research and Technology Corp. moves Indianapolis offices
518 Indiana Ave. location is positioned closer to IUPUI campus, industry partners
FOR IMMEDIATE RELEASE
INDIANAPOLIS -- Indiana University Research and Technology Corp., which protects, markets and licenses intellectual property developed at Indiana University so it can be commercialized by industry, has moved its Indianapolis offices closer to faculty, industry and research partners.
IURTC's offices now are located at 518 Indiana Ave., near the School of Informatics and Computing building on the Indiana University-Purdue University Indianapolis campus. The move will not affect operations at IURTC's office on the IU Bloomington campus in Simon Hall.
"One of the goals set forth in the plan is to strengthen the university's role in the economic development of the state. We can do this by accelerating the transformation of innovations developed by IU researchers into new products and services," he said. "The move to 518 Indiana Ave. brings IURTC closer to researchers on the IUPUI campus, which will help facilitate disclosing innovations and encouraging startup activities."
Tony Armstrong, IURTC president and CEO, said the move has been planned for several years.
"The move to 518 Indiana Ave. is an interim move. A permanent move will be made when 16 Tech, an innovation community planned between 10th Street and 16th Street, is up and running," he said. "The sale proceeds from the previous location will be reinvested and strategically deployed to advance IURTC's mission and goals."
Marie Kerbeshian, IURTC vice president of technology commercialization, said the organization's core activities will remain the same after the move.
"Technology managers will continue to strengthen relationships with researchers who disclose inventions. They will work together to determine the best method to protect intellectual property developed in the IU campus network," she said. "The technology managers will continue to then find prospective partners who can further develop or license and commercialize the research."
IURTC officials announced that during the fiscal year July 1, 2015 through June 30, 2016, it was issued a record 53 patents by the U.S. Patent and Trademark Office and 112 global patents, for a total of 165. IURTC also received 150 invention disclosures from IU researchers and generated $7.03 million in revenue in that time.
About Indiana University Research and Technology Corp.
IURTC is a not-for-profit corporation tasked with the protecting and commercializing of technology emanating from innovations by IU researchers. Since 1997, IU research has generated more than 2,700 inventions resulting in more than 4,100 global patent applications being filed by IURTC. These discoveries have generated more than $135 million in licensing and royalty income, including more than $112 million in funding for IU departments, labs and inventors.