Minne Inno's 2020 Inno on Fire awards, which honor the state's top startups and entrepreneurs, included a "Community Builder" award to the Venture Center at UMN Technology Commercialization.
University of Minnesota Venture Center: The University of Minnesota is the state’s only comprehensive research university, with a billion dollars in research performed annually. The Venture Center is a key part of how its ideas and technology become part of Minnesota’s tech ecosystem. The Venture Center, part of University of Minnesota Technology Commercialization, has helped spin out 167 companies since 2006—three-fourths of them in Minnesota. Last year alone, the University spun out a record 19 startup companies. UMN startups in Minnesota are responsible for some 820 current jobs (577 of them in Minnesota). From 2006-2019, all UMN startups have raised more than $1.16 billion from venture capital, acquisitions and public offerings. On average, U of M startups have a survival rate of around 75%.
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