Royalties from patents on commercialized inventions and products bring in hundreds of thousands of dollars in income every year for Missouri S&T. During the fiscal year that ended June 30, 2022, Missouri S&T took in a record $996,235 in royalty income, an increase of 38% over the previous year.
“According to recent data available from the Association of University Technology Managers, Missouri S&T has outperformed many of its peer universities in total number of invention disclosures, number of disclosures per research expenditures, licensing revenue, and royalty per invention disclosure,” says Dr. Kamal Khayat, interim vice chancellor for research and innovation.
Missouri S&T’s Technology Transfer and Economic Development (TTED) filed 36 new patent applications and was granted seven U.S. patents for Missouri S&T during Fiscal Year 2022. TTED also took in 24 invention disclosures during the same period. Invention disclosures are confidential documents submitted to the university when an invention may have patent potential or future commercial value.
“The university has always fostered strong research relationships with a diverse network of industry partners, and this advances science and engineering and can lead to competitive advantages through licensing of the developed intellectual property,” says Khayat. “As we continue to conduct research and successfully help industry partners, new partners seek our expertise.”
TTED serves as a hub for technology commercialization, entrepreneurship, business development and economic development at Missouri S&T. Its mission is to grow Missouri’s economy by advancing technology commercialization, encouraging entrepreneurship and promoting business opportunities. Find additional information about TTED at ecodevo.mst.edu.
About Missouri University of Science and Technology
Missouri University of Science and Technology (Missouri S&T) is a STEM-focused research university of over 7,200 students. Part of the four-campus University of Missouri System and located in Rolla, Missouri, Missouri S&T offers 101 degrees in 40 areas of study and is among the nation’s top 10 universities for return on investment, according to Business Insider. S&T also is home to the Kummer Institute, made possible by a $300 million gift from Fred and June Kummer. For more information about Missouri S&T, visit www.mst.edu.