USM Continues Strong Growth in New Companies Developed from Campus Technology Research
Adelphi, Md. (Nov. 4,
2013) -- Increasing the number of new companies developed from technology
advances at University System of Maryland (USM) schools is a priority goal of the
USM Strategic Plan 2020. An informational presentation received recently by the
USM Board of Regents showed considerable progress on this Strategic Plan initiative:
a 29-percent increase in new companies developed from campus technology
advances during fiscal year (FY) 2013.
The USM's heightened focus on technology transfer is
reflected by the creation two years ago of a standing committee-the Committee
on Economic Development and Technology Commercialization-a committee focused on
bringing to market the research advances made at USM campuses.
Recent changes in the academic review and tenure process
reward faculty for research innovations with potential for commercial
USM institutions played a role in launching 67 companies
classified as "Tier I" and "Tier II" enterprises, companies that, respectively, were
founded on a technology license from a university or received considerable
support from university resources.
2013, USM recognized three faculty members with the USM Board of Regents
Entrepreneur of the Year Award.
ceremony, held in the new John and Frances Angelos Law Center at the University
of Baltimore (UB), honored Neil Goldsman and Martin Peckerar, professors in the
Department of Electrical and Computer Engineering at the University of
Maryland, College Park (UMCP), and Scott Strome, a professor and chair of the
Department of Otorhinolaryngology in the University of Maryland School of
The entrepreneurial success of these researchers is
reflected in the support of UM Ventures, a joint effort among the technology transfer
offices at the UMCP and University of Maryland, Baltimore (UMB) campuses to
stimulate discovery and drive commercialization efforts and new business
Overall, USM schools played a role to some degree in the
formation of 187 companies during FY 2013, the one-year period ending June 30,
2013. As part of a series of initiatives to accelerate entrepreneurship and
innovation, the USM has put a process in place to regularly monitor new company
New Companies Facilitated by the USM Institutions, Jan.
1, 2013-June 30, 2013
Contact: Mike Lurie