The licensing of university research has made a significant contribution to US gross domestic product (GDP), industry gross output, and jobs over the last two decades, according to an independent study commissioned by the Biotechnology Innovation Organization (BIO) and the Association of University Technology Managers (AUTM), which was released today.
The report, “The Economic Contribution of University/Nonprofit Inventions in the United States: 1996- 2015,
” documents the sizeable return that US taxpayers receive on their investment in federally-funded research. It shows that, during a 20-year period, academic patents and the subsequent licensing to industry bolstered US industry gross output by up to $1.33 trillion, US GDP by up to $591 billion, and supported up to 4,272,000 person years of employment.
Read the press release
and white paper
on the study.