UMass among top universities with highest licensing revenue per research dollar spent
- The UMass System
Aug. 19,2013: The University of Massachusetts ranked 11th on a list of US universities with the highest licensing revenue for every $1 million it spent on research, according to an analysis of data over a 20-year period from the Association of University Technology Managers (AUTM). UMass also had the best record of any university in New England.
``We know the University of Massachusetts is a national leader in generating income from the commercialization of its academic research,'' said UMass President Robert L. Caret. ``But this is the first time we've seen a dollar-by-dollar analysis of data over a period of time that underscores our success in converting research into products that are sold in the marketplace and that produce licensing revenue for the university. It is an acknowledgment of the high quality of the research taking place on our campuses.''
The analysis was conducted by the Chronicle of Higher Education, which compiled the list based on a review of AUTM data between 1991 and 2011. Not every higher education institution reports data to AUTM every year, and institutions with fewer than three years of reported data were excluded from the Chronicle's analysis.
But the analysis found that UMass was 11th on a list of 26 universities with the highest licensing revenue per $1 million spent on research, a remarkable achievement considering the fact that the university did not start commercializing its research until 1996.
"Research is important, for its own sake, because it expands the boundaries of human knowledge and fuels progress," President Caret said. "But research also plays a critical role in driving our economy, as it leads to discoveries that create new products and new jobs. This new analysis demonstrates that UMass and the Commonwealth of Massachusetts are receiving a remarkable return on investment in this area. We should be proud to see the University of Massachusetts ranked right alongside the nation's innovation leaders."
Average research expenditures at UMass totaled nearly $400.8 million annually over the 20-year period and generated $79,732 in licensing revenue every year for every $1 million spent on research, not adjusted for inflation, according to the analysis. The University of Massachusetts is an acknowledged national and global leader in research areas that include renewable energy, nanotechnology, life sciences, and marine science.
UMass ranked ahead of Yale University, Dartmouth College, and Massachusetts Institute of Technology, which placed 24th, 25th, and 26th, respectively. New York University led the list, followed by Wake Forest and Northwestern universities.
The complete list is as follows:
|Institutions||Licensing revenue per $1-million spent on research||Average annual research expenditures|
|New York U.||$510,165||$236,238,917|
|Wake Forest U.||$254,993||$109,953,834|
|Brigham Young U.||$142,237||$19,889,011|
|Florida State U.||$131,847||$154,989,422|
|U. of Rochester||$94,480||$263,568,878|
|U. of Massachusetts||$79,732||$400,772,718|
|Eastern Virginia Medical School||$78,256||$34,569,835|
|U. of Florida||$77,425||$339,047,774|
|U. of Minnesota||$66,334||$443,721,680|
|Michigan State U.||$64,876||$257,168,043|
|Loyola U. of Chicago||$50,505||$31,992,779|
|U. of Wisconsin-Madison||$48,987||$640,244,209|
|Mount Sinai School of Medicine of NYU||$48,770||$218,317,870|
|U. of Washington||$47,792||$678,437,544|
|U. of Utah||$44,641||$233,325,018|
|Massachusetts Institute of Technology||$40,588||$864,923,333|
Source: Chronicle of Higher Education analysis of Association of University Technology Managers data
Contact: Ann Scales, 617.287.4084; Robert P. Connolly, 617.287.7073