CU tech transfer impacts U.S. economy by $1.9B

BOULDER — The domestic economic impact of commercialization activities at the University of Colorado Boulder over the past five years amounted to $1.9 billion, with $1.2 billion of that in Colorado.

The impact of the university’s technology transfer — the transfer of university research and inventions to the private sector — was recorded in a recently released report titled, Economic Impact of Tech Transfer on the State and National Economy.

The study was conducted by Brian Lewandowski at the Business Research Division of the Leeds School of Business, a CU Boulder organization that conducts economic impact studies and customized research projects for the university and local business communities.

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The study estimated that Venture Partners at CU Boulder (formerly the Technology Transfer Office) activities from FY 2014-2018 accounted for:

• $10.1 million in licensing revenue to CU Boulder (fees CU Boulder collects for allowing other entities to use technologies it owns).
• $48.7 million in commercialization-specific grants awarded to CU Boulder.
• $151.1 million in inferred sales by licensees related to CU technology.
• $593.6 million in capital funding raised by startup companies commercializing CU Boulder technologies.
• 223 license and option agreements signed (which grant companies rights to proprietary CU Boulder technology and intellectual property).
• 40 startup ventures spun out of CU Boulder technology.

Beyond campus, the report estimated that of the $720.6 million in technology transfer-related activity, $592.4 million was recorded in Colorado, leading to an economic impact of $1.2 billion on the state’s economy and $1.9 billion in impact to the nation’s economy.

Fifty-seven percent of the transfer agreements involved the College of Engineering and Applied Science, and 32 percent came out of the College of Arts and Sciences.

Venture Partners at CU Boulder, which drives the campus’ commercialization activities, restructured in recent years to boost entrepreneurial support for CU Boulder innovators and expanded partnerships with the business community, according to the report.

That new focus resulted in new programs such as the Commercialization Academy and Destination Startup and innovative resources such as boot camps on customer discovery, pitch coaching and networking opportunities with industry experts.

“Early indications are that our comprehensive approach is paying off, as evidenced by nearly double the number of invention disclosures, licenses and startups since our strategic reset,” said Brynmor Rees, associate vice chancellor of Research and Innovation and managing director of Venture Partners at CU Boulder.