U.Va. Ventures Survey Shows Economic Impact
Friday, September 27, 2013
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
"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.