Arizona universities spin out more startups and issue more patents despite pandemic
Arizona State University and the University of Arizona spun out more startups and issued more patents in 2020 than they did in 2019—with the potential to contribute millions of dollars to the state’s economy. The two state universities spun out 38 startups in fiscal 2020, up from 29 in fiscal 2019. They also issued 222 patents in fiscal 2020, up from 185 in fiscal 2019.
ASU is among the leaders in the nation in patents granted and startups launched among schools without a medical school, according to the latest rankings by the Association of University Technology Managers.
University of Arizona, meanwhile, has two medical campuses—one at its main campus in Tucson and one in downtown Phoenix on the Phoenix Biomedical Campus. Northern Arizona University, the third public university, spun out one company in fiscal 2020, but didn’t have any startups in fiscal 2019.
“ASU researchers are tackling some of the world’s biggest challenges, from sustainable resources and carbon capture to cancer detection and treatment,” said Augie Cheng, CEO and chief legal officer for Skysong Innovations, the tech transfer group for ASU. “Skysong Innovations identifies those technologies with broad commercial potential and coordinates with the right partners to bring these innovations into the marketplace.”
ASU spinouts created $718 million in gross state product, $478 million in cumulative labor income and $64 million in state and local tax revenue between 2016 and 2020, according to an economic impact study conducted by ASU’s L. William Seidman Research Institute.
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