Tech Transfer eNews Blog

U of Georgia start-ups generate more than half a billion dollars each year, report shows

By Jesse Schwartz
Published: May 22nd, 2019

Innovation Gateway, the tech transfer arm of the University of Georgia (UGA), is generating more than half of a billion dollars each year in economic value, a recent report shows.

Based on data from a survey of UGA startups — for example, the number of jobs created, payroll, and operating expenses — the study shows that companies launched through Innovation Gateway have an economic impact of $531 million across the state, including $322 million in Georgia.

“We’re thrilled to be able to attach an economic impact number to the university’s work in start-ups,” says Derek Eberhart, associate vice president for research at UGA and executive director of Innovation Gateway. “We know there’s a lot of value created by start-up companies emerging from UGA research, and now we have data that quantify that impact.”

UGA’s innovation ecosystem has seen a 40% increase in new inventions by university researchers over the past three years, and its start-up pipeline has grown from 42 to more than 100. UGA is also among the best in the nation when it comes to licensing out university technologies to industry partners.

According to Eberhart, the recent report may actually underestimate the economic value created by UGA start-ups.

“The start-up survey is voluntary, and not all of the more than 175 companies based on UGA research provide a response,” he says. “In addition, this study only captures a portion of the overall economic impact of UGA’s commercialization program, which includes a robust licensing program in addition to supporting startups.”

Source: UGA Today

Posted under: Tech Transfer e-News