Missouri University of Science and Technology’s office for Technology Transfer and Economic Development (TTED) has over a million reasons to celebrate. They have 1,016,000 reasons, to be exact. That’s how many dollars in licensing revenue the university earned for the 2024 fiscal year, which ended June 30. The licensing revenue is shared with inventors and their departments in accordance with the university’s Collected Rules and Regulations.  

“This is the first time that the university has exceeded $1 million in licensing revenue,” says John Woodson, associate director of technology transfer and economic development at Missouri S&T.

S&T researchers who have research that should be protected can work with TTED to submit an invention disclosure. S&T received 44 invention disclosures during fiscal year 2024, an increase of over 30% from the previous year.

When inventions are disclosed, the team at S&T assists their creators with the protection process. In the last year, they registered two copyrights, filed 34 new patent applications and were granted eight U.S. patents.

In addition, in May the university finalized a licensing agreement for sensor technology being developed by Dr. Jie Huang, Roy A. Wilkens Endowed associate professor of electrical engineering, and Dr. Ronald O’Malley, F. Kenneth Iverson Chair professor.

S&T’s office for Technology Transfer and Economic Development 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. Learn more 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 7,000 students located in Rolla, Missouri. Part of the four-campus University of Missouri System, Missouri S&T offers over 100 degrees in 40 areas of study and is among the nation’s top public universities for salary impact, according to the Wall Street Journal. For more information about Missouri S&T, visit www.mst.edu.