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News Release

Last modified: Thursday, July 21, 2005

IU Research & Technology Corp. sets another revenue record

BLOOMINGTON, Ind. -- The Indiana University Research & Technology Corp. earned $8.57 million in license revenue during FY 2004, according to data recently compiled and released by the Association of University Technology Managers.

IU's agent for economic development ranked 26th nationally and fifth among its Big Ten equivalents, behind the University of Wisconsin, the University of Minnesota, Michigan State University and the University of Iowa. During FY 2004, IURTC helped form three new businesses and successfully aided the issuance of 12 patents.

In FY 2003, IURTC ranked seventh among similar agents for Big Ten universities with $5.4 million in total license revenue. In FY 2004, the average IURTC license was worth about $477,000, second in the Big Ten only to Michigan State, whose average license was worth about $827,000.

Despite its continued improvement in yearly license revenue, IURTC President and CEO Mark Long said his organization remains focused on license quality, not quantity, targeting IU discoveries deemed most likely to enhance human health and welfare, and aid technological and scientific advancement.

"We continue to make excellent progress through our partnerships and cooperative efforts with each school and department," Long said. "A wide variety of divisions at IU -- the School of Medicine, Bloomington's College of Arts and Sciences, the School of Informatics, the School of Nursing, the School of Dentistry, the School of Music, IU's Pervasive Technology Labs and University Information Technology Services -- are keeping us busy, and we like it."

IURTC provides access to IU's technology expertise, expands Indiana's R&D and technology infrastructure, operates the State's SBIR/STTR Support Services program and creates collaborative environments to advance Indiana's technology future. IURTC acquired two separate grants from the U.S. Small Business Administration last year to aid the development of small businesses throughout the state.

To speak with Mark Long, call 317-278-1901 or e-mail mslong@iu.edu. A list of AUTM's top 112 schools is available upon request.

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