MINNEAPOLIS (AP) — University of Minnesota officials are pushing staff and faculty to create marketable inventions that will generate revenue for the school.
The university made nearly $84 million in revenue last year from technologies and inventions created by its employees. A large chunk of that revenue will disappear in a few years when the school’s patent on the AIDS drug Ziagen expires.
UMN vice president for research Tim Mulcahy says the university needs to do a better job of marketing and making money from its discoveries, including pharmaceuticals, software and other products.
Minnesota Public Radio News says UMN ranks sixth among research universities in annual licensing revenue.
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