IURTC Reports Revenue Growth
Marie Kerbeshian (photo courtesy of Indiana University)
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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowThe Indiana University Research and Technology Corp. is reporting more than $7 million in licensing and royalty revenue during the 2015-2016 fiscal year, up slightly from the previous year. It is the third consecutive year the IURTC has seen a year-over-year jump in revenue.
The IURTC protects, markets and licenses intellectual property developed at IU. Marie Kerbeshian, vice president of technology commercialization, says 35 percent of the net revenue generated goes to the inventor, with 15 percent going to the inventors laboratory. The remaining revenue is shared among the inventor’s school and campus within the IU network and the IURTC itself.
"The increase in generated revenue reflects that businesses across all sectors find increased value in licensing and commercializing IU innovations," said Kerbeshian. "These innovations are developed by world-class researchers from across all academic disciplines. Without these researchers and IURTC technology managers who market the innovations, revenue would not increase for three consecutive years."
The announcement continues a string of good news for the organization. Last week, the IURTC said it received a record 53 patents during the fiscal year and in July, Kerbeshian said licensing agreements increased 70 percent over the previous year.
