The FY21 Innovation Report represents a continued shift in how the U is defining and measuring the success of its innovation management program. Notably, the term innovation management is replacing what has been traditionally labeled technology transfer. In real terms, innovation management goes beyond the transaction and requires a market-based opportunity to be identified and developed in partnership with industry, entrepreneur, and investment partners. Successful innovation management is also about the long-term commitment to growing “talent, innovation, and place” and how these key elements of a university interact. True innovation management requires PIVOT Center serving as a catalyst for these elements—encouraging collaborations and connecting stakeholders. By focusing on the holistic process of innovation management, the U can better create impact and successfully contribute to Utah’s and the nation’s innovation economy.
The FY21 Innovation Report highlights some important metrics, such as:
the precedent-setting $884 million in investments raised by U startup companies