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News & Press: Company News

U.Va. Ventures Survey Shows Economic Impact

Friday, September 27, 2013  
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Business ventures with research-and-development ties to the University of Virginia have created more than 850 jobs and pumped millions of dollars into the regional and state economies, according to a new report by U.Va. Innovation.

 

The report is based on U.Va. Innovation’s inaugural venture survey, distributed to 53 active companies founded on U.Va. research discoveries. U.Va. Innovation seeks to maximize the impact of University research through strategic partnerships and new business development.

 

"University of Virginia researchers are having a significant human impact through innovation,” University President Teresa A. Sullivan said. "They’re developing devices that make surgery less invasive and more widely available, designing environmentally friendly housing for people displaced by disaster, and creating educational tools that improve children’s literacy.

 

"With support from U.Va. Innovation and other valuable resources, the spin-off companies built on U.Va. research discoveries create jobs, attract investments and, in the process, boost the economy across the Commonwealth and beyond.”

 

The companies surveyed range from Tau Therapeutics LLC (est. 2003), a Charlottesville-based biotechnology company conducting clinical trials on its lead brain cancer therapeutic; to Teachstone Training LLC (est. 2008), an educational services company employing 55 in Charlottesville that provides research-based tools for improving student learning and development; to Indoor Biotechnologies Inc. (est. 1997), a world leader in the detection of environmental allergens, with offices in Charlottesville and the United Kingdom.

 

View the U.Va. release here.


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