The University of Missouri System said Friday it will invest up to $5 million to accelerate commercialization of the university’s intellectual property and spur start-up companies.
The Enterprise Investment Fund targets entrepreneurs currently working to commercialize a university-developed technology or are interested in licensing a technology and forming a start-up company to take innovations from the laboratory to the marketplace, university officials said.
Universities bring about 70 percent of research to the market, while private industry brings about 30 percent, said Mike Nichols, vice president of research and economic development for the University of Missouri System. This is a complete reversal from the mid-1970s when industries conducted the majority of research that led to new product commercialization, he said.
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