The University of Minnesota announced today that it has launched 200 startups since 2006, a significant achievement in its work to scale and commercialize ideas and inventions from laboratories and research facilities on its five campuses. The announcement coincided with a report released this week by the Heartland Forward Group that ranked the University of Minnesota Twin Cities first for technology transfer within the heart of the region, a region comprising 20 states, and fifth among all US public universities.
“We are very proud of this 200th company,” said university president Joan Gabel. “The university is the largest single creator of startups in the state, with nearly three out of four startups in Minnesota. The Heartland Forward Ranking, which looks at startup creation, STEM degrees and other technology transfer metrics, reflects the intentional work that We have done to incorporate successful entrepreneurship and technology commercialization practices into our work as a leading research university.”
These startups, which market the University of Minnesota’s ideas and inventions, have an amazing success rate, with nearly 80 percent still active today and with 10 companies they have either acquired or gone public since 2017. The university has produced a record 20 startups a year Finance 2021 alone.
The 200th startup is Knine Biotech, which uses artificial intelligence for early detection of cancer in dogs. Knine is based on research by Jaime Modiano, a professor at the College of Veterinary Medicine. Taylor Debo, a former researcher in Modiano’s lab and current Ph.D. Candidate in Microbiology, Immunology, and Cancer Biology Program; and Ali Khamanifong, a researcher and data scientist at the Masonic Cancer Center. Like most university startups, Knine Biotech’s innovation relies on access to cutting-edge ideas in research, in this case in cancer biology and data science, available only at a major research university.
said Ross Strait, director of the Fincher University Center. The Venture Center is part of the university’s technology marketing team focused on startups. “We’re excited to launch more companies more quickly; 101-200 startups launched in five years – less than half the time it took to launch 1-100 startups. We also share our knowledge and connections outside of university by working with state launch recipients. Minnesota.”
“University technology transfer is at the heart of economic development based on technology and innovation,” said Ross Devol, President and CEO of Heartland Forward, which distinguishes itself as a nonpartisan think tank and de facto. “We believe the University of Minnesota sets a great example for other organizations looking to improve their technology commercialization project. They have a technology transfer team with a great deal of industry experience in areas where the university generates new discoveries and ideas, and this has been pioneering in its approach to working with outside companies “.
The report singled out the university’s Minnesota Innovation Partnerships program, which provides low-risk opportunities for companies to license U of M technology and sponsor research, as well as the entrepreneurial resources available to students, faculty, and staff. The university’s Discovery Launchpad and Discovery Capital’s seed funding program for start-ups were also honored for their work.
“Research and technology transfer are central to the university’s mission and are key drivers of collaboration and economic growth in Minnesota and our region, and the Heartland Forward Research to Renewal report makes some great recommendations for policymakers and higher education leaders who want to increase the impact of technology transfer in Minnesota and beyond,” said Interim Vice President Research Michael Oaks. “This 200th startup achievement and recognition from Heartland Forward reflects our commitment to research excellence and innovation. We couldn’t be more proud of being “driven to discover”. “
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