On December 12, 2024, the University of Minnesota Board of Regents heard an annual report on the state of the University’s research enterprise followed by an overview of promising directions for research growth that also have significant potential for economic and societal impact. Vice President for Research and Innovation Shashank Priya described the continued growth of the UMN research enterprise, highlighting that researchers fueled another record-breaking year in annual research expenditures, according to fiscal year (FY) 2023 data (the most recent available) from the National Science Foundation (NSF) HERD Survey. Fiscal 2023 totals were up 10% over the previous year—$1.35 billion systemwide and $1.32 billion for the Twin Cities campus.
“Today the state of the University of Minnesota’s research enterprise is remarkably strong,” said Priya. “Our record levels of research expenditures have kept our Twin Cities campus at the number 12 position among US public research universities in the NSF HERD Survey, we’ve maintained our rank of tenth among that same peer group in the Shanghai/ARWU rankings, and, as we heard earlier this month, we earned a top rank among all US public institutions in interdisciplinary research as determined by the Times Higher Education group and Schmidt Science Fellows program.”
In addition to reporting on expenditure and award levels for research, Priya also shared examples of significant research impact including a K-12 NSF computer science education grant to serve rural and tribal communities, the Forever Green initiative to develop cover crops that can make farming more sustainable and profitable for producers, a major NIH grant for clinical and translational research, and UMN startup company, Niron Magnetics, that is scaling up operations in Minnesota.
Priya also celebrated an innovation milestone of spinning out 25 startup companies based on University research in a single year, meeting the goal set out in the University’s MPact 2025 Plan of “25 by 2025” a full year ahead of schedule. The University has spun out more than 260 startups since the formation of the Venture Center within UMN Technology Commercialization in 2006. The University is the largest single source of startups in Minnesota, with a high rate of companies locating in Minnesota (73%) and a ten-year survival rate of 70%.
“This is absolutely tremendous — we are one of the largest startup producing universities in the entire country,” said University President Rebecca Cunningham. “The University of Minnesota is outpacing peer institutions that have much larger research enterprises than ours, so we are doing this important work efficiently and effectively. We should be loud, bold and very proud about our strengths in research commercialization. We are an economic engine for our state, and it’s a real testament to Vice President Priya and his colleagues at the Research and Innovation Office who are focused on catalyzing, supporting and safeguarding research and creative practice across our five campuses.”
Priya also noted some concerns about the University’s long-term research competitiveness, acknowledging that FY 2024 sponsored research awards, the external grants that UMN researchers compete for, had declined by 6% overall, in part because of declines in federal funding and funding from business and industry.
Priya, President Cunningham and the Board discussed how a long-term lack of investment in new research facilities has hurt the University’s ability to attract top talent. Critically, this has caused the federal government’s reimbursement rate for indirect costs incurred by the University, such as for administration, regulatory compliance, utilities and building costs, and secure data storage, to decrease. Priya identified additional investment in the Microbial Cell Production Facility on the St. Paul Campus as one project that could help the University keep its reimbursement rates from falling further.
Priya then presented emerging areas of research investment and collaboration to attract new federal and private investment and to rise in research rankings, while also increasing the economic and societal impact of University research. As part of its 2026-27 budget request to the Minnesota Legislature, the University is seeking new state support in the areas of biomanufacturing, precision agriculture, green energy and green iron, and hypersonics/aerospace that Priya touched upon.
“I'm excited to see so much energy and momentum, both at the U and externally, around building for the future of UMN research,” said Priya. “Great things are on the horizon, and I feel tremendous gratitude for the knowledge, creativity, and drive coming from our faculty, staff, postdocs and students.”
On the UMN Research Statistics page, you can find links to the video of VP Priya’s presentation, presentation slides, as well as the printed 2024 Annual Report, a Research At-A-Glance summary, Technology Commercialization Statistics, and the 2024 Annual Report on Technology Commercialization.