Purdue University’s growing success at moving ideas into the marketplace has earned it high regard in a report released Thursday by an economic think tank.
Purdue was ranked No. 1 in the Midwest and first nationally among public institutions without a medical school in a report by the Milken Institute called “Concept of Commercialization: The Best Universities for Technology Transfer.”
The report ranked Purdue 12th overall in the nation. The rankings focus on activities that drive long-term economic growth, such as patents, licenses, licensing income and startup creation.
Since 2014, Purdue has seen 76 startups created from patented university innovations. During that period, the university has nearly 500 technologies licensed and 460 U.S. patents issued.
Milken, a Santa Monica, California-based not-for-profit, last did a similar report in 2006. Purdue finished 39th overall in that ranking.
“For the past four years, we have focused our efforts on creating the most supportive structure possible for our entrepreneurial faculty, students and staff,” Purdue President Mitch Daniels said in written comments. “We have knocked down the barriers that often kept important Purdue-based research from reaching the marketplace in a timely way, and built what we believe to be the most friendly, conducive environment to ensure our research and the innovations that result reach their fullest potential.”
The University of Utah, Columbia University, University of Florida, Brigham Young University and Stanford University topped the overall 2017 rankings.
Indiana University Research and Technology Corp. finished 49th. Ball State University in Muncie was 223rd.