As Georgia’s most comprehensive research university, UGA is committed to responding to the evolving societal needs of Georgia and around the world. Innovation Gateway was launched in March 2015 to maximize the impact of UGA research discoveries, foster economic development through industry partnerships and new venture formation, and ensure that breakthrough ideas emerging from UGA reach their full potential for public benefit as efficiently and effectively as possible.
Over the past fiscal year (July 1, 2016 to June 30, 2017), Innovation Gateway facilitated a significant increase in commercialization and entrepreneurial activity, as shown by growth in key licensing and startup metrics:
- Innovation Gateway received 192 invention disclosures in FY 2017, which is up from 128 in FY 2015 and just shy of 198 in FY 2016. The number of invention disclosures reflects growth of the UGA innovation engine and Innovation Gateway’s engagement with UGA researchers.
- Innovation Gateway executed 200 license and option agreements in FY 2017, which is up from 170 in FY 2015 and 145 in FY 2016. Deal flow, as measured by the number of licenses and options executed, reflects Innovation Gateway’s engagement with industry and the pipeline of potential new products.
- There were 62 projects in the startup pipeline in FY 2017, which is up from 42 in FY 2015 and 54 in FY 2016. Total projects in the startup pipeline tracks the entrepreneurial activity based on UGA research within the startup ecosystem.
- This year’s new product number may exceed the previous record of 55 in FY 2015 and is up from 36 in FY 2016. New products reaching the marketplace demonstrates the successful development of new products with industry partners. Final product numbers are still pending as year-end reports from our industry partners continue to arrive, but preliminary calculations indicate that more than 50 new products originating from UGA research reached the marketplace in FY 2017.
- Licensing revenue was $8.7M in FY 2017, which is up from $6.5M in FY 2015 and $7.6M in FY 2016. Licensing revenue from royalties on product sales is reinvested into the university research enterprise to spur additional innovation.
Innovation Gateway’s areas of emphasis for FY 2018 include launching the UGA NSF I-Corps Site and the Materials Innovation Center, increasing the number of partnerships with the private sector, and continuing our efforts to build on the university’s success in technology commercialization and new venture formation.