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December 8, 2005

Pitt ranks 6th in business start ups

Pitt was the sixth most prolific college or university in the country in the number of start-up companies created in fiscal year 2004, according to the Association of University Technology Managers (AUTM) 2004 survey of licensing and commercialization activities.

With 10 companies created in 2004 as a result of Pitt research, the University tied with Duke University and trailed only the Massachusetts Institute of Technology, University of Chicago, Georgia Institute of Technology, California Institute of Technology, and the University of Michigan in this measure of technology commercialization productivity. A total of 157 institutions were surveyed.

“The University’s success in forming companies is a clear sign of the strong entrepreneurial spirit of so many of our faculty,” noted Provost James V. Maher. “While most of the other universities included in AUTM’s survey have had tech transfer systems in place for more than 20 years, Pitt’s efforts have been concentrated in the past 10.

“And while many other universities have a research mix that skews toward information technology products that can roll out a product in eight months, our faculty research is heavily invested in biotechnology, where it takes an average of eight years to roll out a product,” Maher said.

The AUTM survey also indicated that Pitt ranked:

• 20th in patents issued, with 39;

• 21st in licenses and options executed, with 53;

• 28th in patents filed, with 114, and

• 45th in licensing income, with $3,805,082.

Filed under: Feature,Volume 38 Issue 8

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