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U launches record number of startups

(Photo: Scott Streble)

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.

Research at the University resulted in 14 new startup companies during the last fiscal year, one being EmboMedics, which produces resorbable polymer beads designed to cut off the blood supply to cancer cells. (Image courtesy of EmboMedics)

Since the Office of Technology Commercialization’s Venture Center was formed in 2006, a total of 52 startup companies have been created. Today 80 percent are still active.

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:

See a full list of recent U startup companies at www.research.umn.edu/techcomm/Ustart-ups.html.

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