K-State Innovation Partners raises over $4.9 million for UniversityInnovation

TOPEKA, Kan. (WIBW) – K-State Innovation Partners raised over $2.8 million in licensing revenue and over $2.1 million in facilitated sponsored research to Kansas State University.

K-State Innovation Partners says it ended the 2019 fiscal year with 70 invention disclosures, 15 patents and 26 licensed technology and fundraising provided over $2.8 million in licensing revenue and over $2.1 million in facilitated sponsored research to Kansas State University.

The Innovation Partners also said 2020′s fiscal year is already looking bright with the organization’s 69 invention disclosures, 22 patents and 34 license agreements through May 2020.

“Commercializing technology is one step in K-State’s process of translating ideas, discoveries and technologies from the lab to the marketplace,” says Chris Brandt, chief tech transfer officer. “The fiscal year 2019 commercialization successes are reflective of how K-State addresses the challenges facing society while also driving economic growth.”

AUTM, a nonprofit with more than 3,00 members and over 800 universities globally, says K-State ranks in the Top 50 for intellectual property disclosures, total licensing revenue and license revenue per active license.

“In this time of economic uncertainty, it is more important than ever to protect innovations and license the technologies to existing companies and startups. Our emerging technologies can help current companies or be the foundation of new industries in Kansas,” says Peter K. Dorhout, vice president for research.

Innovation Partners says that in addition to technology commercialization, it has advanced economic development in the region by helping with 174 economic partnerships, which attracted 23 companies to establish and expand a presence in Kansas and launched or invested in 18 K-State related companies.

“We want to bring the knowledge generated at the university to do what’s best for Kansas businesses, families and prosperity,” said Kent Glasscock, CEO of Innovation Partners. “We strive to take relationships beyond transactional to more strategic and ultimately leverage them into economic growth opportunities for the state.”

Innovation Partners says it has created nearly 600 jobs in the region with average salaries of over $56,000 which totals over $33 million in annual payroll.

“Innovation Partners continues to promote the successes of K-State faculty, researchers and students to ensure that technologies developed at K-State can get into the hands of the public where they can create jobs and improve lives,” Glasscock said.

Innovation Partners says in the 2020 fiscal year the Kansas State University Research Foundation and Institute for Commercialization merged to form K-State Innovation Partners which continues to commit itself to collaborate with the University, industry and communities to promote corporate engagement, technology commercialization and economic development.

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