The report, entitled, “The Economic Contribution of University/Nonprofit Inventions in the United States: 1996- 2013,” estimates that during this 18-year time period academic-industry patent licensing bolstered U.S. gross industry output by up to $1.18 trillion, U.S gross domestic product (GDP) by up to $518 billion, and supported up to 3,824,000 U.S. jobs.
- 818 start-up companies formed around academic patents (up 16% from 2012)—which is more than two new companies created every working day of the year;
- 4,200 start-ups in operation, mostly located in the same state as the parent research institution, creating regional economic development;
- $22.8 billion in product sales from commercialized academic inventions; and
- 719 new products introduced into the market (up 22% from 2012) – or more than two new products introduced every day of the year.