According to new data released by the Association of University Technology Managers this month, it seems as if D.C.-area universities are experiencing some trouble finding success in their tech transfer efforts, mainly George Mason University. The school – which is well-known for its engineering prowess – fell short of producing more "executed licenses and options, startups, invention disclosures, patents issued, new patent applications and license revenue" last year, even after increasing research spending by $5.2 million, reports Washington Business Journal.
George Mason, Georgetown University, and the University of Maryland were the only three local universities that participated in the annual survey conducted by the AUTM, and truth be told, none of the institutions truly excelled from 2011 to 2012. Sure, each of the schools have only recently begun to increasing their their role in the tech transfer realm, as Washington Business Journal alludes to, but the data speaks for itself: George Mason, Georgetown, and UMD have not quite progressed as expected.
It's worth noting that it was UMD that ended up being the most prosperous university in 2012 when it came to tech transfer success, boosting its licenses and options, startups, invention disclosures, patent applications, and license revenue by $500,000, reports the AUTM. Georgetown didn't fall behind, increasing its license revenue by $1.7 million, but while that sounds impressive, it turns out overall, Georgetown's data appeared dismal at best.
Then there was George Mason – the black sheep of the bunch – that didn't fare well, according to the AUTM. The school, however, would beg to differ.
"[The AUTM survey] doesn't accurately reflect what's happening," explained Michele McDonald, a spokeswoman for George Mason. McDonald added that George Mason has "abandoned more than 70 patent applications since August 2011 but still has 133 applications pending," reports Washington Business Journal.
Veronica Kayne, director of Mason's Office of Technology Transfer, was quick to mention in a statement that George Mason is proud to have nine active startups in the D.C. area alone, which is impressive seeing as we live in tough economic times. Some even "already have commercial sales," she added. "And we have several evaluation licenses and options outstanding, which we hope will lead to new licenses.”
Washington, D.C. isn't home to some state-of-the-art Ivy League nor a school that's known for a brilliant invention that managed to produce millions upon millions of dollars, but there is still hope for our little District. Startups will continue to emerge, student innovation is on the rise, and while AUTM's survey doesn't say much about our home, suffice to say that one survey certainly doesn't say everything about the nation's capital. George Mason is clearly grooming talent as exemplified by alums Paul Singh, Partner at 500 Startups and Founder of dashboard.io, and Bobby Saini, Chief Marketing Officer at Gryphn. They're both impactful startup creators who are changing the way we as a society think, developers whose innovative businesses speak to the fact that at George Mason, you can be successful, despite what AUTM's data says.
