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Home › News & Events › UK ranks 1st for creating startup companies among benchmarks for third consecutive year
UK ranks 1st for creating startup companies among benchmarks for third consecutive year
LEXINGTON, Ky. (Jan. 21, 2011) —For the third consecutive year, University of Kentucky faculty, staff and student entrepreneurs have created more startup companies than their colleagues at UK's 19 benchmark institutions according to a recently released report by the Association of University Technology Managers (AUTM).
UK also ranks 4th for startups among all public institutions and 6th among all public and private institutions in the 2009 report. One hundred forty nine top research institutions participated in the AUTM survey. AUTM is the global network of universities, teaching hospitals and others charged with licensing innovations from academic and nonprofit research.
"These rankings are not only an opportunity to measure our work in economic development against the top universities in the country, but also to draw attention to our mission as Kentucky's land grant institution to be an economic engine for the Commonwealth," said UK President Lee T. Todd Jr.
UK is also 13th among its benchmark institutions in licensing income per $10 million of research expenditures.
"Now more than ever it is important that we commercialize UK technology and create spin-off companies and new jobs," said Len Heller, UK's vice president for Commercialization & Economic Development. "Long term, we grow Kentucky's economy by growing these startups and attracting investors to get them to the next level and help them succeed."
During last fiscal year, UK received $2.2 million in gross licensing income and managed 162 total licenses. Twenty new licenses were issued, including 10 new licenses to UK startup companies.
"Research harvesters work campus wide with faculty to drive disclosures, educate faculty on the commercialization process, and provide market research services to encourage researchers and clinicians to consider the business potential of their ideas," said Dean Harvey, executive director of the Von Allmen Center for Entrepreneurship and part of UK's economic development office.
UK's 19 benchmark institutions, which include universities such as Wisconsin-Madison, Arizona, Maryland, Michigan, Illinois and Florida, are selected in collaboration with the Council on Postsecondary Education. View more information online.