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By PBN Staff
By PBN Staff
BOSTON – The University of Massachusetts ranked 11th on a list of universities with the highest rate of licensing revenue return on research investment, the university announced Monday. UMass had the best record in New England.
The Chronicle of Education determined the rankings by analyzing Association of University Technology Managers data compiled from 1991-2011. It ranked 26 schools according to the amount of licensing revenue brought in for every $1 million spent on research.
Not every institution reports to AUTM every year, and schools with fewer than three years of data were not included.
UMass spent an average of more than $400 million on research annually in the 20-year period, generating $79,732 per $1 million spent per year.
“Research is important, for its own sake, because it expands the boundaries of human knowledge and fuels progress,” UMass President Robert L. Caret said in a statement. “But research also plays a critical role in driving our economy, as it leads to discoveries that create new products and new jobs. This new analysis demonstrates that UMass and the Commonwealth of Massachusetts are receiving a remarkable return on investment in this area. We should be proud to see the University of Massachusetts ranked right alongside the nation’s innovation leaders.”
The other New England universities on the list were Yale University, at No. 24, Dartmouth College, at No. 25 and Massachusetts Institute of Technology, at No. 26.
New York University brought in the most licensing revenue per $1 million spent, followed by Wake Forest University.