Missouri S&T set a new record for the most money generated from patent royalties on commercialized inventions and products during the fiscal year that ended June 30, with $540,396 in royalty income — more than double the amount received in 2013.
Royalties paid to inventors and authors also set a record at $187,998.
During the past year, technology transfer and economic development (TTED) staff received a record 47 invention disclosures, including five software disclosures, which is a new service TTED began providing last year. TTED filed 31 patent or copyright applications and had 14 issued patents and one registered copyright.
“Missouri S&T is ahead of our peers in terms of disclosures per million dollars of research expenditures,” says Keith Strassner, Chem’79, TTED director. S&T’s three-year average is 12.1 invention disclosures per $10 million in research expenditures. In comparison, Massachusetts Institute of Technology reports an average of 9.4 invention disclosures and Georgia Institute of Technology reports 6.2.