Patents, start-ups line university pockets

Many universities are rolling in the dough from the inventions and breakthroughs.

More than $827 million was collected from universities in 2001 all over the nation for patents, signed licenses and start up companies.

By Cassie Duong

Daily Evergreen (Washington State U.)

One hundred and forty-three universities from the United States were researched in this study. A total of 9,454 patents, 3,300 licenses and more than 402 start-up companies were accumulated for the university in 2001.

Washington State University did not rank in the top ten, but there have been many patents that have been signed with the college.

For example, Boeing donated the patents for the Microwave Vacuum Dehydration Technology, which is a way to preserve fresh foods. More than 12 million dollars in donations have come from Boeing, ranging from equipment to cash and gifts.

Washington state is a land-grant research institute for the state, which has been ranked one of the top research schools in the nation by U.S. News & World Report.

Some of WSU’s past patents have been: microprogrammable asynchronous digital controller, electronic animal hoof force detention system, mutated proteins, monoclonal antibodies and veterinary antibiotics.

The highest-ranked cash flowing university was Columbia University, which collected $129,895,000. That is 15 percent of all the revenues from 143 universities in 2001. WSU’s figures were not available.

"The money should go to lowering tuition," said Michaela Byram, a senior, "or to giving faculty a bonus."

The money from patents is used in a variety of ways from benefiting further studies or enhancing programs and technology in the university.

"Money should go to the school," said Patrick McDaniels, a senior majoring in communication. "The university fronts it."

A great deal of Columbia University’s money came from their genetic-engineering technique, which was bought by many companies.

The second highest was Massachusetts Institute of Technology, who collected more than 73 million dollars through stock companies.

The investment of Akamai, an Internet company, and Pracecis Pharmaceuticals, a biotechnology company, rolled in half the profit received by MIT.

In 2000, more than $1 billion was collected from universities all over the nation.

Universities depend on relationships with companies as a source of funding for programs, but can open doorways to ultimately providing graduates with jobs or internships.

Any content distributed via U-WIRE is protected by copyright.
U-WIRE is a division of Student Advantage, Inc.

Big Sky Passenger Rail Authority Monthly Board Meeting

Sorry, we couldn't find any posts. Please try a different search.

Leave a Comment

You must be logged in to post a comment.