RIT Licenses to Start-Up Companies
Technology Commercialization and Technology Transfer functions are executed from two organizations at RIT, each under the supervision of the VP for Research.
RIT’s Intellectual Property Management and Technology Commercialization Office (IP&TC) is responsible for working with RIT’s principal investigators to identify, capture and commercialize (tech transfer) intellectual property on behalf of the Institute as well as research sponsors. Intellectual Property (IP) is protected by patents or other means of protection including copyrighted software. RIT’s IPMO commercializes the Institutes IP by licensing the technology to existing as well as start-up companies.
Some Examples of RIT licenses written with start-up companies are shown below.
VNOMICS CORP. Provides a software based solutions to help commercial trucking fleets optimize their operations. Their True Fuel™ product, for in-cab driver coaching and fuel savings, has been recognized by Heavy Duty Trucking as one of the Top 25 Products of the Year. True Fuel optimizes driver and vehicle performance.
They are located in Pittsford NY and employ 40 people with 38 in the Rochester area. Over the next few years, they expect employment to grow to 50 or more.
Clerio Vision. Clerio was founded in 2014 on groundbreaking femtosecond laser research conducted in collaboration between the Rochester Institute of Technology and the University of Rochester.
The company is developing a suite of products designed to improve the visual outcomes and enhance the safety profiles of non-invasive laser vision correction, intraocular lenses as well as next generation contact lenses. The non-invasive laser vision correction and contact lens products are currently in clinical development.
In order to accelerate the development of the company's contact lens offering, Clerio recently purchased the manufacturer of ExtremeH2O contact lenses with the intention of offering a full line of contact lens products globally.
Clerio currently employs a dedicated team over 100 employees and consultants with 33 based in Rochester. The team is composed of serial entrepreneurs with multiple exits as well as ophthalmic industry veterans who pioneered a number of new ophthalmic technology categories.
The company has raised approximately $30 million in financing from Safar Partners Fund, Stonehenge Growth Equity, Armory Square Ventures, prominent angel investors and the National Science Foundation.
VPG Medical. This RIT/UofR licensee designs, develops and markets Digital Health Services based on embedded cameras in smartphones, tablets and laptops.
They are based here in Rochester at the Sibley Building downtown Rochester (NY).
They employ 9 people in Rochester (NY) and 13 worldwide. They expect to significantly grow the company over the next three(3) years following recently secured funding.
Significant events over the last few years are 1) closing on seed funding >$500K, 2) Winning a $500K investment from the NYS accelerator program called Luminate, 3) Deploying VPG HealthKam™ technology to multiple customers in the Western NY region.
BlackBox Biometrics. This RIT licensee is a technology company focused on preserving health, transforming behavior, and optimizing performance. They develop and deploy sensor systems that monitor, record and analyze blast and impact events to protect warfighters, first responders, and athletes. They are based here in Rochester at Venture Creations, and currently employ 10 people.
B3 is focused on technology solutions that reduce the risk of neurodegenerative disease. They have successfully commercialized the Blast Gauge® System, a wearable technology that measures exposure in explosive blast to provide triage capability, guide medical treatment, and enable research. Customers include the Department of Defense, international militaries, as well as law enforcement and research agencies. B3’s development of the Linx Impact Assessment System®, an ultra-thin, real-time sports impact monitoring system that slips into a custom headband or skullcap for use across all sports activities, provides a unique capability to capture cumulative exposure history essential to determine safe exposure levels for each athlete.
Over the next five (5) years, B3 will continue to be a catalyst for change, providing advanced sensor systems, data analytics, and information architectures that create awareness and drive institutional and behavioral change.
Positive Science, Inc. This RIT licensee designs and develops sensor and eye-tracking technology for active vision and behavior research. They are based here in Rochester at 125 Tech Park Drive, Suite #2106, Rochester, NY 14623. They employ 2 people. They expect to grow to 6-8 people over the next five(5) years. Significant events include a third-place win (closing a $250K round of VC funding) in Rochester's Luminate Accelerator which is focused on optics and photonics companies.
Enviroclean Diesel Technology Corp. - This RIT/EET licensee designs, develops and markets a plasma-based Diesel Particulate Removal System designed to reduce the amount of soot produced by large diesel engines. Based in St. Louis, they expect to grow to 30+ employees over the next five (5) years. Significant events over the last few years are 1) fundraising, 2) develop additional prototypes, 3) technical optimization and testing. (Note this licensee may have future operations in Rochester due to the Rochester location of co-licensor EET)
More coming soon- stay tuned!
RIT’s Venture Creations, the campus’s Business Incubator which helps people with technical ideas create new companies, is housed in a 30,000 square foot building adjacent to the RIT campus. The facility is currently home to 20 startup companies who are developing products and services in a variety of areas including imaging, micro-electronics, alternative energy and software technology. Some incubator companies may also be licensees of RIT technology. Venture Creations was recently awarded a $1.5 million grant by New York State to develop a Clean (and Renewable) Energy Incubator (CIE) component.