The University of Chicago News Office
Nov. 16, 2006 Press Contact: Steve Koppes
(773) 702-8366
s-koppes@uchicago.edu
 

University of Chicago tech-transfer office expands name to match recent growth

    Additional media contact:
Lisa LaVallee
773-834-8763
lavallee@uchicago.edu

The University of Chicago’s technology transfer operation will enter its sixth year of steady growth by changing its name to UChicagoTech, part of an outreach effort aimed at expanding its network both within the university and off campus.

The new name was announced today by Thomas Rosenbaum, Vice President for Research and for Argonne National Laboratory; Raphael Lee, Chair of the UChicagoTech Faculty Advisory Committee; and Alan Thomas, Director of UChicagoTech.

“Under the surface, this reflects some important dynamics,” the trio noted in a Nov. 16 memorandum announcing the name change. “Our office has grown substantially.” Since the organization’s inception as UCTech in 2001, invention disclosure rates have doubled, to 142 in fiscal year 2006; royalties have more than tripled, to more than $8 million in FY 2006, and UChicagoTech is now returning more than $5 million a year to inventors, laboratories, departments and divisions.

The new name reinforces the office’s University of Chicago identity as its activities become more tightly interwoven with those of the faculty, wrote the University officials. More effective faculty recruitment, competition for research grants, and contributions to the region’s economic development are all at stake, they said.

“A key capability we can offer is to foster valuable, creative connections to resources, inside and out, but in this regard many of these potential connections in the University community remain untapped. Our hope is we can be of ever more assistance in creating, engaging and aligning such resources in the cause of the University’s intellectual mission and the consequent dissemination of its discoveries.”

UChicagoTech works with researchers — faculty, students, or staff — to assess the commercial potential of new ideas. UChicagoTech’s goals are to disseminate new ideas so the public can benefit from discoveries, and to generate revenues for research and education.

 

http://www-news.uchicago.edu/releases/06/061116.uchicagotech.shtml
Last modified at 12:07 PM CST on Thursday, November 16, 2006.

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