Indiana University Research and Technology Corp. reports $7.03 million in revenue in 2015-16
Revenue distributed among researchers, laboratories and university
FOR IMMEDIATE RELEASE
INDIANAPOLIS -- Officials at Indiana University Research and Technology Corp., which protects, markets and licenses intellectual property developed at Indiana University so it can be commercialized by industry, have reported generating $7.03 million in licensing and royalty revenue during the 2015-16 fiscal year.
Marie Kerbeshian, IURTC vice president of technology commercialization, said the total represents the third consecutive year-over-year increase in annual revenue. IURTC generated $5.49 million in 2013-14 and $6.85 million in 2014-15.
"The increase in generated revenue reflects that businesses across all sectors find increased value in licensing and commercializing IU innovations," she said. "These innovations are developed by world-class researchers from across all academic disciplines. Without these researchers and IURTC technology managers who market the innovations, revenue would not increase for three consecutive years."
IURTC distributes the revenue to researchers and their laboratories based on the intellectual property policy written by members of the University Faculty Council and approved by the Indiana University Board of Trustees in 1997. The policy was revised 2008, 2013 and 2014.
"Thirty-five percent of the net revenue goes to the inventor, and 15 percent to the inventor's laboratory," Kerbeshian said. "The inventor's school and campus receive a share of the remainder, with a percentage supporting IURTC's efforts to protect and manage the intellectual property."
During the 2015-16 fiscal year, IURTC completed 43 licensing agreements, an increase of 72 percent over the previous year's total; researchers submitted 150 invention disclosures; 165 domestic and global patents were issued to IURTC; and four startups were launched through Spin Up, its entrepreneurial program.
"These metrics show that Indiana University researchers and IURTC garnered strong results in the 2015-16 fiscal year," Kerbeshian said. "The greatest results, however, are when IU innovations reach the market and strengthen the lives of people around the world."
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 over 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.
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