NYU’s recently ended fiscal year 2019 was a very active year for technology transfer activity at the University.
A record number of 18 startups commercializing NYU technologies were created, spanning the range from oncology therapeutics to rehabilitative medicine to artificial intelligence. The companies created reflect the breadth and dynamism of research initiatives taking place at NYU.
We look forward to working with the NYU community and industry over the coming year, to continue to advance the development of NYU technologies to benefit the public. For more information on opportunities to work together, please go to www.nyu.edu/oil.
About Technology Transfer at NYU
The mission of the Technology Transfer program at NYU is to promote the commercial development of NYU technologies, into products to benefit society, while providing a return to the University to support its research and education missions. NYU has one of the most successful track records of commercializing technology of any university, with over 45 products based on NYU technology having been brought to market to benefit society and over 150 start-up companies having been created. Products developed include drugs for the treatment of cancer, arthritis, and psoriasis, numerous medical and dental devices and diagnostics, and electronics and software technologies. Numerous additional products are currently under development by licensees and start-up companies, including semiconductors, electronic systems, software, agricultural, medical, and dental products.
Over the past 10 years, NYU has generated 50% more start-up companies based on licensed technology per dollar of research expenditures, than the national average, and has ranked first in overall license income generated from successful technology commercialization. Revenues generated from technology commercialization are shared with the inventors under the NYU Patent Policy, which is one of the most generous in the country, and the remainder is devoted to supporting the research activities of the University. In FY19, the number of new start-ups created more than doubled, with 18 being created; a total of 74 new license agreements with industry were signed, a 45% increase from FY18; and prior NYU start-ups completed 2 IPOs and a major acquisition, and many more completed key product development and financing milestones.
The Office of Industrial Liaison is responsible for managing activities relating to the protection and commercial promotion of inventions made at New York University, as well as research collaborations with industry.
Faculty, staff, and students whose research may lead to new discoveries or products are encouraged to contact the Office of Industrial Liaison as early as possible, to discuss their work. Under patent laws, patent applications must be filed prior to any publication or presentation of the invention to avoid loss of rights. By contacting the Office early, patent protection can be sought if appropriate, without delays in publishing and presenting new results.