The University of Minnesota launched a record 14 startup companies — many with a medical focus — in fiscal year 2013. In fiscal year 2012, it launched 12 startups, breaking the previous year’s record of nine.
In a climate of decreasing federal support for scientific research and increasing competition for research grants, the University is working hard to ensure that its discoveries enter the marketplace, where they can have the most impact.
“This is about fulfilling our mission to pursue new knowledge that advances human health and our economy,” says University President Eric Kaler, Ph.D.
Based on current activity in the Venture Center, the pace will not be letting up anytime soon. Another five startups are already in the negotiation stage and on track to launch in the first half of fiscal year 2014.
Several of the most recent startups involved discoveries by Medical School faculty:
- Applied Informatic Solutions: Informatics tools to help identify high-value biomarkers, developed by Jason Nikas, D.P.T., and Walter Low, Ph.D., in the Department of Neurosurgery.
- EmboMedics: Natural resorbable polymer bead used to cut off the blood supply to tumor or cancer cells in the body, developed by Jafar Golzarian, M.D., in the Department of Radiology.
- Evidentia Health: Mayo Clinic- and University of Minnesota-based health care information technology company that provides evidence-based clinical decision-support tools for radiologists at the point of care, developed by Dan Steinberger, M.D., in the Department of Radiology.
- Gy Biomedical: Noninvasive, cost-effective diagnostic and monitoring test for an inflammatory disease of the esophagus, developed by Glenn Gourley, M.D., in the Department of Pediatrics.
- ID Genomics: Rapid assessment of virulent bacteria for potential organ failure in urgent-care settings, developed by James Johnson, M.D., in the Department of Medicine.
See a full list of recent U startup companies at www.research.umn.edu/techcomm/Ustart-ups.html.