Tech earns high biotech rank

A recent biotechnology study from the Milen Institute named Tech one of the top universities in the world for technology transfer and a top producer of start-up companies.

Tech was ranked fourth for start-up companies, 11th overall for technology transfer and eighth for patents filed. According to the U.S. Patent and Trademark Office, Tech also ranked ninth for the number of patents in 2005. The rankings included information on technologies other than biotechnology, biotechnology made up a significant portion of the total for each ranking.

The Milken study, Mind to Market: A Global Analysis of University Biotechnology Transfer and Commercialization, shows the position of institutions in the commercialization process of taking research ideas and introducing them to the market.

According to Wayne Hodges, vice provost of Tech's Enterprise Innovation Institute, there are a number of ways in which the growth of start-up companies benefit the Tech community. The start-ups provide opportunities for employment to Tech students and graduates, and the presence of the companies help to build Atlanta's technological reputation. This then encourages more companies, resources, and opportunities to the area and to Georgia.

"Commercialization is an important part of the innovation cycle, and an area of great importance to the continued economic viability of the United States. Tech's expertise in this area will broaden the experience we can provide students, giving them additional skills they can apply in the marketplace. Developing a strong reputation for transferring technology will enhance the reputation we already have in applied technology, making our graduates even more valuable," Hodges said.

Additionally, the marketing of technology developed at Tech produces financial gain for Tech and for Georgia as a whole. The economy of Georgia is made stronger by the economic return that startup companies provide.

According to Hodges, outstanding staff and faculty members are recruited to Tech by their interest in commercializing their technology at Tech. The entrepreneurs who find success at Tech tend to give back to the university as well.

The advantages of these partnerships do not end at financial gains or reputation, however. Healthcare is affected by new advances in bioscience and biotechnology that are put on the market.

According to Hodges, the efficiency and quality of healthcare can be increased by the developments in this area.

"Beyond providing better health care to our citizens, this commercialization also offers significant economic benefits in the formation of new companies and more efficient delivery of services," Hodges said.

Tech's Enterprise Innovation Institute, which helps give companies the cutting edge by applying science, technology, and innovation, currently utilizes its commercialization services group to analyze developments in technology on the Tech campus, examining their potential in the market and aiding the developers in finding the best way to commercialize their invention.

This takes place in cooperation with the Office of Technology Licensing. According to Hodges, there is a lot of activity in this area at Tech, and much of it comes to fruition in the commercial realm. Inventions made by researches totaled 366 and inventors received 39 patents in the fiscal year 2006 at Tech.

"Electronics and software have always been strengths on campus. We are also seeing a lot of bioscience technology, particularly the merger of engineering and medicine, leveraging our collaboration with Emory University. Other areas include information security, alternative energy, nanotechnology and materials," Hodges said regarding the current areas of technology at Tech.

According to Hodges, the fact that Tech is highly ranked in overall technology transfer has various advantages for the university. The outcome is significant for both the members of the Tech community and the broader Atlanta area.

According to Hodges, a recent printing of Inc. Magazine noted that Tech ranked with MIT, Stanford, Yale and the University of Texas at Austin as one of the top universities for entrepreneurial partnerships. Tech came out ahead of Yale and Texas in 2005 for the number of start-up companies.

"This makes us more attractive to entrepreneurs and investors, who increasingly see Atlanta as a good place to start a company. More entrepreneurs and investors mean more startups, which add to our reputation," Hodges said.