U of M Research Leads to 100 Start Ups in 10 Years
Minneapolis, MN (KROC-AM News)- The University of Minnesota has reached a milestone in a program aimed at assisting faculty and staff in forming new companies to commercialize inventions based on U of M research.
A statement issued by the University marking the milestone says launching new companies is one of the primary ways the higher education institution turns research discoveries and commercial products that fuel the economy and contribute to the public good.
“The University of Minnesota is committed to connecting our researchers to experienced entrepreneurs and to innovative programs, transforming extraordinary discoveries into the birth of 100 companies,” said University President Eric Kaler. “We are proud of our remarkable and ongoing contributions to Minnesota’s innovation culture and entrepreneurial ecosystem.”
Since the launch of the Venture Center in 2006, 100 startup companies have been launched. University officials note 75-percent of the startups are based in Minnesota and 82-percent are still active today. Combined, the U of M startups have raised over $219 million in investment capital.