Innovations born in the world of academia have contributed more than a trillion dollars to the US economy over the past two decades, according to a new report.
Examining the licensing of university technology, a study undertaken by the Biotechnology Innovation Organization (BIO) and the Association of University Technology Managers (AUTM), reveals that over a 20 year period ‘academic patents and the subsequent licensing to industry’ boosted industry output by $1.33 trillion.