ARIZONA STATE UNIVERSITY

INNOVATION

Through the end of FY 2016, Arizona Technology Enterprises (AzTE) has helped launch almost 100 spinouts based on university intellectual property.

These companies and their sublicensees have attracted more than $600 million from VCs and other investors. In FY 2016, ASU startup companies received more than $96 million in outside financing.

The Seidman Research Institute studied AzTE and 21-linked companies, all founded in the past decade, and estimated that, as a result of their cumulative operations, Arizona’s economy gained the following economic impacts in this one year (FY 2016):1


  • 1,100 total jobs 2
  • $114 million contributed to gross state product
  • $77 million in wages
  • $10 million in state and local tax revenues

In FY 2016, ASU faculty working with AzTE submitted 269 invention disclosures, initiated 13 startup companies, and were issued 60 U.S. patents. AzTE also facilitated $16.7 million in industry-sponsored research – hard funding to pursue solutions to some of industry’s most pressing challenges and biggest opportunities.

The National Academy of Inventors and the Intellectual Property Owners Association have again ranked ASU as one of the top 100 universities in the world for U.S. utility patents. ASU was ranked 38th-ahead of Duke, Princeton and Yale.

ASU's work in California continues to pay dividends in entrepreneurial engagement. In 2016, the univeristy broadened its collaboration with Draper University, building on its California connections. Draper University and ASU are combining students and curriculum to launch the Draper/ASU Entrepreneurial Master’s Program, designed to be the top entrepreneurial program in the country. It will culminate in a business plan competition, into which Draper will be investing at least $1 million.

1. FY 2016 findings from an economic impact assessment conducted by the Seidman Research Institute (SRI) using the “IMPLAN” input-output model and independently audited by the Rounds Consulting Group. SRI’s analysis did not include any data from prior years or the broader impact from campus-wide entrepreneurial activities conducted outside of AzTE’s operations and support, such as companies started by ASU students and graduates.
2. Each direct startup job creates an additional 1.7 indirect jobs in Arizona.