$40 million in earnings places UMass 13th in nation
BOSTON -- Jan. 26, 2012:The University of Massachusetts placed in the Top 15 nationally in generating income from the licensing of faculty-derived discoveries and products, UMass President Robert L. Caret said in remarks to the Board of Trustees Committee on Science, Technology & Research.
"Our ability to generate $40 million from faculty discovery and innovation is a testament to the great quality of the UMass faculty on all five campuses and also shows that the University is extremely focused on obtaining its fair share of the proceeds when products reach the marketplace," President Caret said.
"This is the perfect intersection of invention and entrepreneurialism," President Caret added.
According to the latest report from the Association of University Technology Managers (AUTM), the University of Massachusetts generated $40 million in licensing income during Fiscal Year 2010, the most recent year for which figures are available.
UMass placed 13th nationally based on survey data, which is derived from the information provided by the colleges and universities responding to the annual AUTM survey. While not all institutions respond, most major research universities do. This is the second year in a row that UMass placed in the Top 15.
The most recent survey was topped by Northwestern University, which generated $179.8 million during Fiscal Year 2010.
UMass was one of only two New England universities to make the Top 15, along with MIT. Additionally, UMass was the only New England public university to report more than six-figure earnings.
"The work of our faculty results in inventions and discoveries that improve the quality of life in Massachusetts and around the world, and also helps to drive the Commonwealth's knowledge-based economy," President Caret said. "We will continue to build our strengths in these critical areas as we work to deliver on our mission of service to the Commonwealth and its citizens."
UMass is an acknowledged national and global leader in research areas including renewable energy, nanotechnology, life sciences and marine science.
For more information on the FY 2010 AUTM report.
Contact: Robert P. Connolly, 617-287-7073