Technology Commercialization Statistics

As a leading American research university, the University of Minnesota advances knowledge across a wide range of fields, yielding new solutions and technologies that can then be commercialized to benefit the public, foster economic growth, and generate revenue to further support the University’s mission. Technology transfer measures are part of the goals of MPact 2025, the University’s systemwide strategic plan.

The University of Minnesota launched a record-breaking 25 startups in fiscal year (FY) 2024. UMN also received 375 new invention disclosures, executed 226 licensing deals, submitted 126 first patent filings, and earned licensing revenue of over $20 million, much of which is or will be reinvested in research and innovation at the U.

Technology commercialization statistics (below) reflect deal flow from year to year and are subject to significant volatility. Typically, the University of Minnesota is ranked among the top 10-20 US public universities for key technology transfer metrics. 

 “We’re proud of the tech transfer ecosystem we’ve built here at the University of Minnesota. It’s a reflection of the caliber of ideas coming out of the U of M research community and our experienced Technology Commercialization team.” --Rick Huebsch, Associate Vice President for Technology Commercialization

Technology Commercialization Statistics, FY20-FY24

Graph depicting a five year trend of growth in license and revenue, startups, invention disclosures, and new/issued patents. Alternative formats of this information is available by contacting rio@umn.edu.
Dollar amounts in millions. Technology Commercialization, Wellspring Sophia; UMN Enterprise Financial System.

Startup Companies

Graph depicting the total number of startups from FY06-24, totalling 260, segmented into sectors. Another table lists FY24 and overall (FY06-24) totals of startups by sector. Alternative formats of this information are available by contacting rio@umn.edu.

Since the 2006 founding of the Venture Center, which is a division of University of Minnesota Technology Commercialization, the University has launched more than 260 startup companies, with a long term success rate of 68%. Additionally, 73% of these companies have located in Minnesota. In FY2024, a record 88% of new University startups — 22 out of 25 — located in-state. The 25 startups also meet the University’s goal to spin out “25 by 2025” under MPact 2025.

Bar chart showing growth of startup numbers, year by year, from FY06 thru FY24. Detailed information available in an alternative format by emailing rio@umn.edu.

Ten UMN startups have been acquired or gone public in the past decade, and overall UMN startups have attracted more than $1.8 billion in investment capital, IPOs, and acquisitions, according to a 2022 survey. See a video about the University’s 200th startup milestone.

The University is: 

The University’s technology transfer work has been recognized for its excellence in national and global rankings:

  • UMN is in the top 20 public universities for five  key tech transfer metrics:  startups (3rd), deals (7th), disclosures (11th), New Patent Applications (16th), and License Income (17th); AUTM 2022 Survey
  • 17th among US public universities granted US Utility Patents; National Academy of Inventors Top 100, 2023
  • First for technology transfer within the 20-state heartland region, and fifth among all US public universities; Heartland Forward 2022
     

New Initiative to Support Future Innovation

The University seeks to amplify its proven process for getting opportunities to innovators and innovations to market under its Discover→Advance→Impact™ fundraising initiative. The initiative seeks to raise $40 million to add more capital to its proven end-to-end tech transfer model that is currently undersized relative to the innovation pipeline.
 

Annual Research Reports

See our 2024 Annual Report on Technology Commercialization.

Learn more about the University's research enterprise.