UNIVERSITY OF AKRON LEADS OHIO IN COMMERCIALIZING NEW TECHNOLOGIES

University of Akron issued the following news release:

The Ohio Board of Regents has ranked The University of Akron first in the state for the highest rate of return per research dollar leading to the commercialization of technologies.

The Technology Commercialization Incentive (TCI) score is based on productive technology licenses, formation of start-up companies and direct industry research support by Ohio companies. In second place was Ohio State University, followed by Case Western Reserve University; both have large medical complexes.

"The University of Akron's TCI score means that it is much more efficient than its peers at transferring technology to Ohio business and industry," says Harry Andrist, director of research and graduate programs for the Ohio Board of Regents. "The score shows that the university does extremely well in producing new business start-ups in Ohio and in licensing new intellectual property to Ohio business."

"The TCI score reflects our ability to turn research dollars into technologies commercialized by Ohio industry and to attract companies to Ohio," notes Dr. George Newkome, UA vice president for research and interim dean of the College of Polymer Science and Polymer Engineering.

Newkome credits The University of Akron Research Foundation (UARF), established in 2001, for UA's effectiveness in commercialization by creating the framework for entrepreneurial relationships between the university and industry.

One of UA's technology success stories involves MemPro Ceramics Corp., a Colorado company working with the university to develop industrial filtration products. "Without a doubt, UARF's economic development goals for Northeast Ohio have been evident in all our interactions with the university," says John Finley, MemPro chairman and CEO who recently opened an office in Akron. "Our relationship with UARF has been the single most important factor in attracting us from Colorado."

Other examples of The University of Akron Research Foundation's technology transfer successes include an equity position in Akron Polymer Systems, a UA spinout company manufacturing polymer thin films, and a collaboration with Biomedical Research Associates, a spinout company from Summa, providing product development and technical support for clinical trial services.

The TCI scoring system was initially formulated via consultations with university technology transfer officers, university research officers, state government professionals and representatives of Ohio business. It was modified by the Third Frontier Commission before it was approved by the commission and the Ohio Board of Regents.