The Vanderbilt Center for Technology Transfer and Commercialization generated more than $100 million in licensing revenue—quadruple its annual average—and reviewed more than 1,000 material transfer agreements and facilitated nearly 300 U.S. patent applications in the 2022 fiscal year.
“Commercialization and entrepreneurship amplify and accelerate the impact of Vanderbilt research and scholarship, allowing the university to provide direct, deeply transformative and scalable benefits to society,” Chancellor Daniel Diermeier said. “We are proud to be fostering a culture where trans-institutional collaboration and innovation are top priorities.”
CTTC provides professional commercialization services to the Vanderbilt University and Vanderbilt University Medical Center communities to optimize the flow of innovation to the marketplace and generate revenue that supports future research activities. CTTC serves as a conduit for the transfer of promising intellectual property to industry; contributing to regional economic development by licensing locally and supporting new venture creation and encouraging greater translational research collaborations between academia and industry.
“The dramatic growth in revenue and output generated by CTTC signifies a new era of discovery and a broadening innovation ecosystem at Vanderbilt,” Provost C. Cybele Raver said. “Through our investments in industry collaboration, new ventures and enhancing faculty resources, we are serving as a catalyst for innovation that will continue to yield bold solutions to the world’s most pressing problems.”