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ASU spin-outs hit $68m

Sep 12, 2013 •

Spin-out firms from Arizona State University hit $68m in external fundraising for 2013.

Arizona Technology Enterprises (AzTE) has reported that spin-outs from Arizona State University (ASU) recorded $68m in external fundraising for ASU’s 2013 fiscal year (July 1^st – June 30^th).

The figure brings total venture funding raised to nearly $400m since AzTE was established in 2003. The tech transfer unit has supported 67 spin-out companies since its creation. Recent investments include $4m for life sciences startup HealthTell and $28m for algae-tech firm Heliae.

Augie Cheng, AzTE’s chief executive, said: “ASU’s expanding research…

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Global University Venturing (GUV) is where tech transfer, academic and investment experts meet to explore the latest ideas and technologies driving innovation forward. We drive the discussions and share best practices that are critical to the success of spinouts, scaleouts and innovation programmes. Our aim is to help improve the processes of bringing innovations from academia to global markets and facilitate their integration into the broader business ecosystem.