OLV boosts revenues to $65m

Office of Licensing & Ventures (OLV), the tech transfer office of Duke University, generated $65m in the 2019-20 fiscal year compared with $78m in 2018-19.
The institution generated 17 spinouts, up one from last year, while patent applications rose to a new high of 455.
A total of 15 of the new businesses elected to remain in North Carolina, where Duke University is based, meaning 90% have stayed over the past three years.
OLV manages the formation of new spinouts through its Duke New Ventures unit.
The spinout portfolio collectively generated more than $270m in funding, $35m of which was invested in North Carolina.
OLV struck 105 new licence agreements, versus 114 in 2018-19, with 29 of the total signed on an exclusive basis. Invention disclosures reached a record of 455 from 329 year-on-year.
OLV also reported growth at its IT-focused digital innovations subsidiary, which posted over $1m in licensing revenues in 2019-20, compared with $143,000 five years ago.
The division secured 57 new licence agreements and 105 invention disclosures.
Dinesh Divakaran, director of digital innovations at OLV, said: “We continue to see a significant uptick in the number of digital innovations and associated commercialisation deals, especially in the areas of digital health, AI, machine learning and data visualisation.
“Covid-19 has created a ‘needs required’ environment, and we are seeing many people step up and fill those needs.”