The University of South Florida ranked 19th, among more than 225 universities nationwide, in a Milken Institute study about how well universities convert basic research into new technologies, products and companies.
“Concept to Commercialization: The Best Universities for Technology Transfer” notes USF jumped up from 74th place in 2006 after ramping up research and commercialization efforts.
“We really worked hard in the past 10 years in changing our culture,” acknowledges Paul Sanberg, USF’s Senior VP for Research, Innovation and Economic Development. “We want to be Tampa Bay’s corporate partner.”
USF efforts have gone beyond “great basic research which we’ve been known for,” he says, to patenting licenses, commercialization, business incubators and training programs.
“This has involved a real concerted effort to make these activities part of tenure and promotion,” Sanberg says.
Vickie Chachere, Director of Strategic Communications for USF Research and Innovation, says major companies look to be near major universities that are good at commercializing research and growing a talent pipeline. “Tampa is an emerging place if you want to have potential partners,” she says.
The rank is based on a University Technology Transfer and Commercialization Index that is derived from the four-year averages of patents and licenses issued, plus licensing income and the number of start-ups.
USF has a “diverse portfolio” spanning life sciences, engineering and other Science, Technology, Engineering and Math or STEM and the arts, Sanberg adds.
The study by Ross DeVol, Joe Lee ad Minoli Ratnatunga found all of the top 25 universities were in metropolitan areas. “Universities are a source of competitive advantage; they create a skilled workforce and through R&D and tech-transfer help create new technologies and new industries,” it asserts.
The University of Florida in Gainesville ranked third, following the University of Utah in Salt Lake City and Columbia University in New York City, in first and second place, respectively. Central Florida in Orlando ranked 22 while Florida State University in Tallahassee earned 88th place and Tampa’s H. Lee Moffitt Cancer Center and Research Institute placed 95th.
“Research universities are one of the strongest assets America can use to compete in the age of innovation,” the report concludes. “Research funding should be a top priority for enhancing American economic growth.”
The Milken Institute, with offices in Washington, D.C., is a nonprofit organization working to boost global prosperity through collaboration. Its Center for Jobs and Human Capital seeks to develop innovative, doable economic solutions that facilitate job creation and enhance funding opportunities.
USF’s own study shows it ranked 10 among state universities nationwide, Sanberg notes. It ranks 9th among public universities nationally and 21st globally for the number of U.S. patents granted, according to Intellectual Property Owners Association/National Academy of Inventors (2015).