Last modified: Friday, September 3, 2010
IURTC has record year for licensing revenue as faculty disclosures, patents, licensing income rise
FOR IMMEDIATE RELEASE
Sept. 3, 2010
INDIANAPOLIS -- Indiana University Research & Technology Corp. today announced a record-breaking fiscal year for 2010 (ending June 2010) as licensing revenues from commercializing IU technologies more than doubled from $6 million dollars in FY 2009 to $14.2 million dollars at the end of FY 2010.
"Licensing revenue represents more than just a dollar amount. Increases in revenue show that IU inventions are progressing through the commercialization pipeline and reaching the public," stated Marie Kerbeshian, vice president of technology commercialization. "In addition, this revenue rewards IU inventors and funds additional research at IU, so that even more inventions can be made."
"We're obviously quite pleased that in the type of economic conditions we've endured over the last year we were able to secure over $14 million in licensing revenues, more than doubling the prior year. I'm really proud of all the hard work by IURTC staff," said Tony Armstrong, president and CEO of IURTC.
Faculty invention disclosures were also up by an impressive 15 percent from last fiscal year. This increase is attributed to faculty boosting the number of disclosures to the IURTC from researchers at the IU School of Medicine, Indiana University-Purdue University Indianapolis and IU Bloomington. The number of patent applications that were filed increased as well in FY 2010.
"The record-breaking numbers that we have experienced this year at IURTC reflect the innovation and industriousness of our faculty and researchers, complemented by the dutiful work of IURTC staff, who help facilitate these exciting commercial ventures," said Bill Stephan, vice president of engagement at IU. "We look forward to continuing our support of IU faculty, researchers and students in the effort to further establish IU as a premier institution for research and discovery."
The mission of the IURTC is to commercialize the research of IU faculty, staff and students and to support technology-based economic development throughout Indiana and the nation. IURTC is dedicated to enhancing the research and development capability of Indiana University, creating new Indiana-based companies and providing support for entrepreneurial development.
To speak with representatives of IURTC, please contact Steve Chaplin, IU Communications, at 812-856-1896 or firstname.lastname@example.org.