BioCrossroads report underscores importance of strong tech transfer programs at Indiana’s research universities
INDIANAPOLIS, (Nov. 19, 2020) — BioCrossroads today released a new report, Tech Transfer in Indiana: An Overview for the Life Sciences Industry, a comprehensive resource highlighting the technology transfer processes and approaches used by Indiana University, Purdue University and the University of Notre Dame to facilitate commercialization of research-driven discoveries and innovations. The report also discusses the role of incubators and graduation facilities at research universities, which are increasing in number and importance.
“With our three research institutions and thousands of research faculty, Indiana has critical assets necessary to drive innovation. University labs and facilities are especially important for life sciences R&D that require unique space and equipment required to perform complex research,” said Patricia Martin, president and CEO, BioCrossroads.
In addition to developing breakthroughs in medical treatments and therapies, Indiana’s three R11 research institutions also generate a substantial amount of economic activity much higher than the state’s population would indicate. The state’s much larger (by population) neighbors in Ohio and Michigan also have three R1 universities, while Illinois, with a population nearly double that of Indiana, is home to four such institutions.
“Indiana universities or companies have played a vital role in tech transfer processes leading to the commercialization of insulin, treatment of prostate cancer, and reduction of cancer caused by the human papillomavirus among many others. It’s critical that we continue to foster these programs to ensure the long-term competitiveness of Indiana’s life sciences sector,” continued Martin.
Tech transfer highlights from the universities included in the report:
- Since 1997, IU research has led to more than 4,800 global patent applications, generating more than $145 million in licensing and royalty income.
- Over the last five years Purdue researchers have filed nearly 3,000 domestic and international patents, licensed more than 1,100 technologies, launched 112 companies, and generated nearly $36 million in royalty income.
- Since 2017, Notre Dame has started 64 companies. In 2019, these 64 companies offered 99 full-time jobs paying an average salary of $72,000 (22% more than the average Indiana salary). They also raised an aggregate of $6.6 million in investment and are generating $10.9 million in revenue.
The report is available here.
BioCrossroads (www.biocrossroads.com) is Indiana’s initiative to grow, advance and invest in the life sciences, a public-private collaboration that supports the region’s existing research and corporate strengths while encouraging new business development. BioCrossroads provides money and support to life sciences businesses, launches new life sciences enterprises (Indiana Biosciences Research Institute, Indiana Health Information Exchange, Fairbanks Institute for Healthy Communities, BioCrossroadsLINX, OrthoWorx and Datalys Center), expands collaboration and partnerships among Indiana’s life science institutions, promotes science education and markets Indiana’s life sciences industry.
 Research universities in the United States are classified via the Carnegie Classification of Institutions of Higher Education. R1 universities award doctoral degrees while carrying out “very high research activity” as measured by research expenditures. Carnegie Classifications: https://carnegieclassifications.iu.edu/index.php.