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 Office (IPMO) 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.
- Company 1 is developing long-lasting power sources for low-data rate sensors and other small devices. This company has a license to three (3) patents from RIT and employs three (3) people.
- Company 2 is developing technologies for energy efficiency, pollution reduction and environmental protection. This company has licenses to three (3) patents from RIT and employs (5) people.
- Company 3 is developing low cost high efficiency flexible photo-voltaic arrays. This company, based in San Jose, has a license to one (1) patent from RIT and employs fifty (50) people..
- Company 4 is developing and selling vehicle predictive maintenance and driver behavior modification systems for commercial and military vehicles. This company has a license to four (4) patents from RIT and employs thirty one (31) people.
- Company 5 is creating innovative devices that alert potential brain injury resulting from concussive encounters, and provide medical personnel with digital information to better understand the concussive event, leading to faster and more accurate treatment. This company has licenses to three (3) patents from RIT and employs (15) people.
- Company 7 is developing a revolutionary low-cost imaging technology that can be used for screening and diagnostics of soft tissues cancers. The prostate cancer market is the first focus of this start-up. Products will then be developed for other soft tissue cancer (breast, liver, kidney, skin, etc.) markets. This new imaging methodology takes C-scan images in the coronal plane of the prostate gland in real time based on the photoacoustic phenomenon. It takes advantage of the general fact that blood vessel concentration in tumors is different from that in healthy tissue and it is this difference the imaging diagnostic can visualize, giving doctors a more accurate way to distinguish tumors than current ultrasound imaging methods. This company has a license to two (2) pending patents jointly owned by RIT and the University of Rochester. The company is in the early development stage.
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.