The University of Toledo has earned recognition as one of the best schools for innovation transfer in fiscal year 2011.
Innovation Excellence, a website focused on inventions within industry and academia around the world, ranked UT as one of the top 20 universities in the country for new inventions per $1 million in grant funding.
“Without the diligent, high-quality work that our faculty members perform and direct, the University would not have received this acknowledgement,” said Dr. Dan Kory, UT senior director of technology transfer.
Faculty, staff and students pursuing disciplines, including engineering, chemistry, biology, pharmaceuticals and orthopedics, made important contributions that led to the recognition, Kory said.
The Innovation Excellence website measured the most new inventions per federal dollar because that formula indicates the efficiency and inventiveness of universities and measures how effectively schools translate federal research funding into new knowledge and technologies.
The article states that schools receiving less in grant funding can and often do translate those funds into more “inventive bang for the buck, and turn their research into inventions at a brisk rate.” UT’s research expenditures were $70 million — with $38 million from the federal government — in 2010 compared to schools such as Johns Hopkins, which spent more than $1.4 billion in 2010.
“We would like to thank all those who have submitted invention disclosures for their cooperation and assistance as patent protection is secured,” said Stephen Snider, UT director of technology licensing and contracts. “We are fortunate to have such innovative faculty at UT with whom we work to provide an efficient and effective conduit for the licensing of promising technologies to industry.”
To read the complete article from Innovation Excellence, visit www.innovationexcellence.com/blog/2011/12/14/best-us-universities-for-innovation-transfer.
To learn more about technology transfer at the University, view the 2011 annual report on technology transfer at www.utoledo.edu/research/TechTransfer/PDFs/2011annual.pdf.