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UNM's Science and Technology Corporation: The Impact of Start-Up Companies

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Please use this identifier to cite or link to this item: http://hdl.handle.net/1928/17681

UNM's Science and Technology Corporation: The Impact of Start-Up Companies

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Title: UNM's Science and Technology Corporation: The Impact of Start-Up Companies
Author: O'Donnell, Michael
Subject(s): Start-ups
Science and Technology Corporation
University of New Mexico
New business enterprises
Technology transfer
Economic impact studies
High technology
Abstract: The UNM Science and Technology Corporation (STC) asked the Bureau of Business and Economic Research (BBER) to conduct a study of the economic impact on the economy of New Mexico of start-up companies using STC technologies; BBER conducted a similar analysis in 2004. This analysis updates the 2004 study and emphasizes the impact of high-tech start-up companies that have had a relationship with STC from 2004 to the present. STC is a nonprofit corporation formed for the purposes of protecting, commercializing, and transferring faculty inventions and university patents. At the time of this study, the STC was actively servicing 16 start-up companies. These companies had attracted over $12.4 million in venture capital money to the state since 2004; had sales of $7.0 million in 2009; paid $5.8 million in salary and benefits in 2009; employed 88 full-time, part-time, and contract employees with average compensation of $66,225. Nearly all of STC's technologies awaiting licensing are in industries with above average compensation, making STC a driver for good jobs for New Mexicans and an effective conduit not only for UNM research but also UNM graduates who want to enter high-tech fields.
Date: 2011-01
Publisher: University of New Mexico, Bureau of Business and Economic Research
Description: See also the 2004 BBER report on STC by Norton Francis.
URI: http://hdl.handle.net/1928/17681

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