Ohio State University spun out a total of 13 companies in the last fiscal year and now has a portfolio with a record 98 active businesses.
Ohio State University (OSU) established 13 spinouts in its past fiscal year, which ended June 30, and generated $5.6m in revenue, according to Columbus Business First.
The institution has already founded another 10 spinouts in the current fiscal year and now holds a portfolio of a record 98 active companies – having doubled the figure within five years. Five spinouts were wound down in the fiscal year 2020.
The pandemic meant invention disclosures at OSU were down year on year, as labs were temporarily closed and everyone worked remotely. Some research grants were also paused.
The university has been working to unite its technology commercialisation, research office, corporate engagement and Keenan Center for Entrepreneurship in a single structure overseen by executive director by Grace Jinliu Wang, who joined OSU late last year.
Wang said: “If you want to grow, we must invest and we must focus. This is actually really the time for research, tech commercialisation and startups at Ohio State to really take off.”
