Milken Institute has produced a report ranking more than 200 US universities for their tech transfer prowess, with Utah, Columbia and Florida universities making up the top three.

Utah University has topped the table of more than 200 US universities for their tech transfer prowess, ranked in a report released yesterday by the economic think tank Milken Institute.

The report, titled “Concept to commercialization: the best universities for technology transfer,” ranked each university based on four indicators of tech transfer success: patents issued, licenses issued, licensing income and spinouts formed.

With an indexed score of 100, Utah University topped the table. Coming in second was Columbia University, with a score of 97.83. Close behind in third place was Florida University with an indexed score of 97.66.

The report, which is available to download from Milken Institute, also makes four policy recommendations.

The first is to maintain basic scientific research funding, arguing that it provides long-term economic benefits by allowing universities to take on research that will not reap quick commercial success, but has the potential to create whole new industries.

The second is to incentivise tech transfer through a new federal commercialisation fund, with universities demonstrating greater commercialisation success in the market being rewarded with higher funding in the program.

The third is to increase tech transfer capacity through federal matching grants. The grants would fund an increase in staff and resources in tech transfer offices, which is argued would boost academic entrepreneurship and revive declining startup rates.

The fourth is to increase tech transfer efficiency by incentivising institutions at a state level to adopt best practices. This, Milken Institute argues, should reduce the efficiency gaps between universities outside the top 25 and those inside it.

Ross DeVol, chief research officer for Milken Institute, said: “As a society, we understand our universities as the training ground for the next generation of leaders and doers, but we often overlook the benefits these institutions impart simply by bringing new ideas to life.

“Our study shows the impact of university research both locally and nationally is profound, and needs our support.”