University research worth $187 billion over 12 years, group says

Oct 31, 2009 By John Schmid

In what it calls a first-of-its-kind study, the nation's leading biotechnology trade group this week put a dollar figure on the value of university-driven research, asserting that economic output grew $187 billion from 1996-2007 through university technology license agreements alone.

The Biotechnology Industry Organization, saying it used "very conservative models," said that university-licensed products created at least 279,000 new jobs across the U.S. during the 12-year period.

The annual change in U.S. gross domestic product due to university-licensed products grew each year, according to the 53-page report, called, "The Economic Impact of Licensed Commercialized Inventions Originating in Research -- 1996-2007."

"We cannot take tech transfer, or the U.S. patent system upon which it is based, for granted, particularly in the current economy," trade group President Jim Greenwood said in a statement. "This new study provides the evidence to back up that belief."

The 53-page report pays particular attention to the economic foundation laid by the 1980 Bayh-Dole Act, which allows universities and small businesses to control the licensing and commercial use of their inventions even if those inventions resulted from federal funding.

That emphasis has particular meaning in Madison, Wis., where many policy-makers argue that Bayh-Dole helped create Madison's tech-driven dynamics. Before the law was enacted, few universities bothered to their ideas. The few universities that did bother with patents complained that their technologies gathered dust in federal government vaults without being used.

"Because of this inspired piece of legislation, the U.S. leads the world in commercializing university-based research to create new companies and good, high-paying jobs throughout the country," Greenwood said in a statement.

The study was funded by BIO and headed by David Roessner, Professor of Public Policy Emeritus at the Georgia Institute of .
___

(c) 2009, Milwaukee Journal Sentinel.
Visit JSOnline, the Journal Sentinel's World Wide Web site, at www.jsonline.com/
Distributed by McClatchy-Tribune Information Services.

Explore further: Narcissistic CEOs and financial performance

add to favorites email to friend print save as pdf

Related Stories

Basic research critical to America's economic recovery

Feb 11, 2009

The Science Coalition (TSC) today urged Congress to move swiftly to pass economic recovery legislation that includes strong funding for key science agencies including the National Science Foundation (NSF), the Department ...

Better science, please

May 21, 2009

Just when you thought that the industry that made money on bisphenol A could not have been any cozier with the federal agency regulating the chemical comes another revelation. Cozy? How about joined at the hip?

High-tech layoffs climb in first quarter

Apr 06, 2009

During the first three months of 2009 the high-tech sector in the U.S. suffered its deepest layoffs in seven years, according to a firm that tracks the jobs market.

Recommended for you

Local education politics 'far from dead'

19 hours ago

Teach for America, known for recruiting teachers, is also setting its sights on capturing school board seats across the nation. Surprisingly, however, political candidates from the program aren't just pushing ...

First grade reading suffers in segregated schools

19 hours ago

A groundbreaking study from the Frank Porter Graham Child Development Institute (FPG) has found that African-American students in first grade experience smaller gains in reading when they attend segregated schools—but the ...

Violent aftermath for the warriors at Alken Enge

20 hours ago

Denmark attracted international attention in 2012 when archaeological excavations revealed the bones of an entire army, whose warriors had been thrown into the bogs near the Alken Enge wetlands in East Jutland ...

Why aren't consumers buying remanufactured products?

22 hours ago

Firms looking to increase market share of remanufactured consumer products will have to overcome a big barrier to do so, according to a recent study from the Penn State Smeal College of Business. Findings from faculty members ...

Expecting to teach enhances learning, recall

22 hours ago

People learn better and recall more when given the impression that they will soon have to teach newly acquired material to someone else, suggests new research from Washington University in St. Louis.

User comments : 0