The University of Central Florida once again improved its standing among U.S. universities as an invention engine.
UCF ranked 25th among public U.S. universities for patent production last year, with 46 patents awarded, according to the National Academy of Inventors & Intellectual Property Owners Association. The Orlando university improved from its spot at No. 29 in 2019.
UCF’s growing patent output is a good sign for the local economy. Both startups and large companies often license technologies and inventions patented by UCF. This can lead to the growth of small businesses and the creation of high-wage jobs or the creation of innovative solutions for established businesses.
“We want to find the best licensee, the industry partner that really can get this technology out there and will commit the resources to develop the technology,” said Director of UCF’s Office of Technology Transfer Svetlana Shtrom. “Sometimes it’s an external company, sometimes it’s a startup.”
The solutions developed at UCF and patented in 2020 included an eco-friendly, water-based system for exterminating fire ants and termites; a nanoparticle-based platform that stimulates cells that attack tumors and virus-infected cells; and high-power lasers with imaging, lighting and military applications.
UCF’s administration set a goal to improve the school’s standing dramatically among U.S. public research universities. When it comes to research and development expenditures, UCF ranks 98th among U.S. universities, according to the most recent ranking from the National Science Foundation. Despite the ranking, UCF steadily is increasing its patent output and the volume of research funding jumped from $145.8 million in fiscal 2016 to $204.5 million in fiscal 2020.
That bodes well for the region’s ability to attract new workers and businesses and grow its high-wage technology and innovation economy. A strong research university is key for the creation of a thriving tech hub, Information Technology and Innovation Foundation President Robert Atkinson previously told OBJ.
Of course, the growth of technology industries in Central Florida is important because it means the creation of high-wage jobs. Technology sector jobs in Orlando pay an average annual salary of $88,759, according to a report by Los Angeles-based commercial real estate brokerage CBRE Group Inc. (NYSE: CBRE). That’s more than the metro area’s average annual salary of $48,530, according to the U.S. Bureau of Labor Statistics.
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