U of A ranks 69th among U.S. research universities for generating knowledge, instilling it in STEM graduates and bringing the findings to market for economic benefit.
In its report Innovation Research: Advances in University Tech Transfer, released on May 12 at the Heartland Summit, Heartland Forward measured 166 research universities ’success in not only conducting research but in putting its benefits into the private sector through graduate and technology transfers“ to provide economic return in investment. ” According to the report, “The American research university is a unique institution that has long been tried to be followed by much of the world. Many times underappreciated in the U.S., research universities are one of the most important assets of knowledge of municipalities and states for economic development purposes.
The report measures formal and informal technology transfer
- Disclosures of the invention
- The number of licenses and options
- Licensing revenue and startups are formed
- Citations of university articles contained in patents granted by companies
- Undergraduate and masters STEM graduates
The rankings are normalized by the research costs of each university “to obtain a measure of the efficiency of converting inputs into outputs.”
The U ranks well in “Licenses and Options” (23rd in the normal value index) and “Startups Formed” (44th in the normal value index).
“I am very pleased to see the good work of our researchers and STEM graduates recognized by Heartland Forward,” said John English, vice chancellor for research and innovation. “Our people are our greatest asset, and their perseverance and creativity make a positive difference for our university, our state and our region.”
“Our ranking of Study of Change demonstrates the rapid progress that has been made in technology transfer and commercialization activities at the University of Arkansas, ”said Mike Malone, vice chancellor for economic growth.“ Through our talented graduates, transfer to technology and commercial research, small business start-ups and support, and industry partnerships, the U of A encourages economic growth and prosperity in every corner of the state. “
Carnegie Mellon University tops the rankings overall Study of Change, with the University of Florida ranking second. The highest ranked university in cardiac research is the University of Minnesota (10th overall, fifth among public universities).
The report makes several recommendations on heart states:
1) Governors and legislatures should consider providing direct funding for technology transfer offices as an economic development initiative.
2) Heartland elected officials should advocate for commercialization and technology transfer to express objectives in universities ’mission statements.
3) State leaders should advocate for a consortium of universities to be formed across the heart states to exchange and implement the best practices of commercialization.
4) The integration of invention disclosures and patents across state borders is worthy of investigation. Providing alumni foundation investments into venture capital funds accumulated in many states can reduce the risk of these investments and possibly encourage greater success.
About the University of Arkansas: As Arkansas ’premier institution, U of A offers an internationally competitive education in more than 200 academic programs. Founded in 1871, the U of A contributes more than $ 2.2 billion to the Arkansas economy by teaching new knowledge and skills, entrepreneurship and career advancement, discovery through research and creative activity while also providing training for professional disciplines. The Carnegie Foundation classifies the U of A as the top 3% of U.S. colleges and universities with the highest level of research activity. US News & World Report ranked U of A among the top public universities in the country. See how the U of A is working to create a better world with Arkansas Research and Economic Development News.
About Heartland Forward: Heartland Forward is a nonpartisan, 501c3 organization whose mission is to improve the economic performance of the central United States by promoting fact -based solutions to promote job creation, knowledge -based and inclusive growth and improving health outcomes. Heartland Forward conducts independent, data-driven research and programs to facilitate action-oriented discussion and impact policy recommendations. To learn more, visit https://heartlandforward.org/.