UCLA is set to announce a not-for-profit company to guide startups spawned from university-sponsored research to help commercialize their tech for the marketplace.
A spokesman for UCLA’s Office of Intellectual Property and Industry Sponsored Research said the company will help optimize discoveries and inventions created on campus. UCLA, a top-ranked university in research funding, produced 17 startups and 95 U.S. patents last year.
The announcement follows the University of California system’s recent push to foster entrepreneurship and commercialize research conducted on its 10 campuses. In June, the UC regents lifted a ban that kept UCLA and other schools from directly investing in university-affiliated startups. The Board of Regents last week voted to start a $250 million venture capital fund to invest in startups founded on student and faculty research.
The UCLA announcement is expected to be made Wednesday morning.