U of M Touts Record Number of Startups in FY19

The Venture Center recently announced it launched 19 new companies in the past fiscal year ensure its innovations reach the people and industries they were designed to help.

Companies reach official “launch stage” once they’ve obtained a license for their intellectual property. The U facilitates development of new companies through its Venture Center, which is part of the U of M Technology Commercialization department.

Eleven of the 19 businesses this year are based in Minnesota, and they’re all rooted in some form of science technology, from health and medicine to software, energy and environment, and food and agriculture.

“These [businesses] hold exciting potential to improve society by bringing research-based solutions to the public in a wide range of fields,” said Russ Straate, associate director of the Venture Center, in a statement. “As a land-grant university, the U of M has a responsibility to ensure promising new technologies move beyond the bounds of academia and benefit Minnesotans’ health, environment, and quality of life.”

Read the full story in Twin Cities Business.