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Geckskin™ by Felsuma LLC is a new super-adhesive based on the mechanics of gecko feet.
The University of Massachusetts campus system is rapidly climbing the ranks as a powerhouse research institution worldwide, and it is leveraging research advancements to cultivate university-bred entrepreneurship and business ventures.
In 2013, UMass was awarded 57 patents and ranked 32nd among the top 100 universities worldwide, according to the National Academy of Inventors (NAI) and the Intellectual Property Owners Association (IPO). The university system trailed only MIT and Harvard as the top three patent-producing schools in the New England region.
Patents are usually filed when a researcher’s idea has the potential to be commercialized. In order to be counted as a patent, UMass must be listed as the first assignee based on US Patent Office data.
While only some patents lead to profit for a university, UMass generated more than $31M in licensing revenue in fiscal year 2014. It also produced $30M or more in licensing income for the eighth straight year, putting it among the top revenue earners in terms of licensing income driven by academic research among universities in the nation.
UMass has built a reputation for producing patents and licensing income, and now the university system is making more strides to turn faculty research into startup businesses.
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UMass’ entrepreneurial endeavors are driven by the Office of Technology Commercialization and Ventures (OTCV), an office that works to “commercialize the University’s research results for the benefit of both the University and society.” Originally responsible for managing patents and other protections, identifying potential licensing partners and negotiating licensing agreements, the OTCV has turned more of its attention to supporting startups.
In 2012, the OTCV focused on the UMass Startup Initiative to foster the creation of UMass startups. The initiative was put into place to increase the rate of commercialization of early stage technologies and respond to interest in seeing lab technology reach the marketplace through the startup route.
The OTCV vets possible startups by making $5K grants available to all campuses in order to prepare business plans addressing commercial viability of inventions. OTCV then reviews the business plans to determine the feasibility of a startup, and if an idea has potential in the marketplace, the OTCV will assist in seeking management and investment for the startup.
In 2014 alone, six companies were born from UMass inventions, including Voyager Therapeutics, Felsuma, Aha! Productions/Innovation Accelerator, Sonation, TATT LLC and Agalimmune Ltd.
UMass generated more than $31M in licensing revenue in fiscal year 2014. It also produced $30M or more in licensing income for the eighth straight year.
Voyager Therapeutics is developing gene therapy methods to treat several important neurological diseases including ALS, Parkinson's and Huntington’s Disease. It entered into a strategic collaboration last year with MassBiologics, the nonprofit FDA-licensed manufacturer of vaccines and other biologic products that is part of UMass Medical School, to establish scalable processes for manufacturing gene therapy medicines
Sonation Inc. is a startup company created by a former UMass mathematics and statistics professor that has produced an app that enables musicians to play their instrument accompanied by a full band or orchestra.
Felsuma LLC is a startup company commercializing a new super-adhesive technology – based on the mechanic properties of gecko feet – that was developed by two UMass Amherst professors.
In an effort to strengthen the entrepreneurial culture and increase entrepreneurial participation and activity across the campus system, the Office of the President and the UMass campuses founded the UMass Entrepreneurship Commons in 2014.
There are numerous programs across the UMass campuses that support entrepreneurship. The UMass Entrepreneurship Commons facilitates collaboration, supports and encourages broader usage of UMass resources by the UMass community, and helps fill gaps in education, mentoring, expert networks and financial support.
By formulating a system-wide entrepreneurial network, UMass hopes to ensure that no good idea goes unnoticed and that truly great ideas get the support they need to succeed.
Image of Felsuma LLC's Geckskin via University of Massachusetts.
