Tallahassee, FL. – Florida A&M University (FAMU) was featured in BusinessWeek as one of the country’s “Most Innovative Colleges” and universities making its mark in technology development in a study on technology transfer.
Technology transfer involves moving a novel development from one organization or environment into another. Often this movement is from a federal or university laboratory into a commercial operation, capitalizing on the investment in research and development that was initially intended for use by the government or for the advancement of science.
The study, sponsored by the National Science Foundation, examined tech transfer results of a number of smaller colleges and universities whose research and development budgets fell far short of the funds expended by tech development superstars such as MIT and Stanford.
Business research and consulting firm Innovation Associates, with the help of a grant from the National Science Foundation’s Partnerships for Innovation program, set out to find institutions of higher learning that are punching above their weight in areas of technology transfer. The schools were selected from a list of institutions that fall below the top 50 when ranked by innovation and design budgets, and met several other criteria, such as a high ranking in some area of tech transfer — including patents filed, licenses executed or startups launched.
According to the study, in the last 10 years academic institutions have nearly doubled the number of licenses executed and more than doubled the number of startups launched.
FAMU is known for innovation particularly in pharmaceutical research, physics, agriculture and the environmental sciences. Innovation Associates highlighted FAMU's lead role in the TechLink project to promote technology transfer at the university and eight other Historically Black Colleges and Universities (HBCUs). In addition, FAMU promotes startups with an incubator at the nearby Innovation Park, a research center supported by local colleges and governments.
“We are extremely pleased with the progress that Florida A&M University has made in the technology transfer arena over the past seven to ten years,” said Rose Glee, director of FAMU’s Office of Technology Transfer, Licensing and Commercialization. “As the Office of Technology Transfer and Commercialization reaches the age of maturity, our goal is to continue to make significant contributions to the economy of this state and nation through the development and commercialization of innovative technologies.”
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