Going Blue Can Be Lucrative, Especially with IP
by: David Nickelson, Director of Research
One of the great things about Techson being headquartered in Austin is the proximity to innovators and industry disruptors drawn to the area to work with like-minded individuals. The University of Texas contributes immensely to this environment with its world class faculty and student body.
My own alma mater, The University of Michigan in Ann Arbor (“Go Blue”) is another innovation hub where bright minds collaborate and develop new ideas and businesses on a daily basis. In 2011, U of M created the Michigan Investment in New Technology Startups initiative to help fund startups created by its faculty and students. The fund recently invested $2.75 million in four promising startups in technologies ranging from software to dentistry with plans to invest up to $20 million as the startups grow and mature.
The importance of intellectual property can be seen in these startups. MemryX - a software company has developed technology for in-memory computing system built to significantly outperform today’s CPU/GPU computing architecture for data-intensive tasks with its founder and U of M holding several patents and pending applications related to the technology. GreenMark Biomedical - a minimally invasive healthcare company developed technology for early diagnosis and treatment of tooth decay and also claims several pending patent applications among its IP portfolio.
The U of M initiative shows the importance of collaboration between innovators, protectors of intellectual property and the financial backing needed to develop and bring technologies to market. At Techson our world class research team is paired with an equally skilled team of business experts with experience bringing startups to market and monetizing IP portfolios. A hub within the greater hub of Austin one could say.
Our congratulations go out to the U of M startups and their team members on their continued success and we look forward to seeing great ideas brought to market, both in our own location here, and across the country.