Commercializing University of Alaska Fairbanks’ intellectual property is an opportunity to increase economic development for our Alaskan communities. We work with several other organizations to turn new technology into viable business opportunities.
PRODUCING NEW DISCOVERIES
The University of Alaska Fairbanks (UAF) conducted approximately $117 million in research in 2012, and regularly performs more than $100 million in research per year. Much of this research leads to new technology, software, and commercial products.
INVENTING NEW PRODUCTS
The Office of Intellectual Property and Commercialization (OIPC) works with UAF inventors to protect, market, and commercialize their technology. The number of new inventions disclosed to the University by faculty, staff, and students has increased dramatically since OIPC was formed in 2011. In Fiscal Year 2014 alone, 75 new inventions were disclosed by University faculty, staff, and students to UAF.
PROTECTING AND LICENSING TECHNOLOGY
Nanook Innovation Corporation (NIC) is a nonprofit research organization supporting UAF that receives intellectual property from the University through a master agreement. This research foundation is responsible for licensing UAF intellectual property and ensures that revenue is returned to the inventors and the University.
Nanook Innovation Corporation transfers these technologies to companies who can incorporate these technologies into their business. Through this effort, companies get better technology, become more competitive nationally, and sell better products. Consumers also benefit through better, low cost products.
To date, NIC has licensed more than over 40 technologies with the majority of these technologies going to companies in Alaska. For the first time, UAF is receiving invention disclosures on pace with other institutions who perform a similar amount of research, including Kansas State University, the University of Central Florida, the University of Notre Dame, North Dakota State University, the University of Oregon, and West Virginia University.
BUILDING TECHNOLOGY BASED STARTUPS
Nanook Innovation Corporation owns a majority share of Nanook Tech Ventures, Inc. Nanook Tech Ventures (NTV) is a for profit corporation that works with entrepreneurial faculty, staff, and students to create startup companies and viable businesses based on their research. Nanook Tech Ventures has formed several startup companies based on UAF technology.
Additionally, the University has helped inventors form companies to make use of Small Business Innovation Research (SBIR) Grants and Small Technology Transfer Innovation Research Grants (STTR). Four upcoming startups are working on technology under SBIR or STTR grants. For more about how the University’s inventions and research are creating opportunities for startup companies, please visit: www.nanooktechventures.com