The University of Florida prides itself on being an internationally respected academic institution. What does this really mean? Consider the following: academics are all about expanding the boundaries of the aggregate knowledge of civilization. But what good is this expansion if society doesn’t benefit? The University of Florida’s Office of Technology and Licensing is the liaison between theory and practice (aka marketplace) for Gator innovators, helping transform UF innovations into products consumers can benefit from. To put it in perspective, between 2010 and 2012 UF received upwards of $92 million in licensing revenues thanks to the efforts of the OTL. To highlight the success of UF’s OTL, let’s take a look at some historical triumphs, and then some blossoming achievements.
Perhaps the most famous example, the creation of Gatorade at UF continues to provide approximately $12 million in revenue annually for the school
• High Oleic peanut plants
High Oleic peanut plants are a series of strands of peanuts used by peanut producers around the globe. Invented at UF, this particular family of peanut strain has a shelf life up to 30 times longer than regular peanuts.
Trusopt has proven to be UF’s biggest money maker in many years, sometimes contributing more than 1/3rd of all royalty revenue. Licensed to Merck, the glaucoma drug hit the market in the mid 90’s.
Sentricon is a product for controlling termite colonies that is used in over 3 million households. The product was licensed to Dow AgroSciences, and has been very lucrative for the University.
• RTI Surgical
RTI Surgicals is an Implant company utilizing cutting edge technology to manufacture prosthetic parts for patients. The company recently had an IPO, and now trades on the NASDAQ under ticker symbol RTIX. The company reported over $60 million in revenue for the first three months of this year.
Enterade is a medicinal food designed to alleviate stomach issues stemming from high exposure to radiation or chemotherapy. These issues include nausea and dehydration.
• Shadow health
Shadow Health develops educational software for healthcare professionals. Their technology allows nursing students to virtually work with patients for examinations.
OBMedical has innovated the way in which fetuses are monitored. Their technology allows for more sensitive, less invasive monitoring of fetuses.
AxoGen is utilizing cutting edge technology to develop methods of protecting and restoring nerves. For instance, U.S. Navy Corpsman Edward Bonfiglio was able to recover use of his leg after being wounded overseas thanks to AxoGen’s innovations.