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8 February 2017

Michigan research corridor channels 210 companies

Michigan State University, Wayne State University and Michigan University have generated 210 companies since 2002, with 79 established in the past five years.

Author: James Mawson, editor-in-chief

Michigan’s University Research Corridor (URC) has developed 210 companies since 2002, with more than a third of them (79) in the past five years, according to the 10th Annual Economic Impact & Benchmark Report.

URC is an alliance of Michigan State University, Michigan University and Wayne State University.

A total of 22 businesses were produced in 2015, exceeding URC’s five-year average and surpassing annual totals in each of the previous four years. URC also surpassed its five-year average for the number of patents issued, licensing and options activity as well as invention disclosures.  

Roy Wilson, president of Wayne State University, said: “When the R&D happening at the URC is taken out of the lab and into the market it drives a variety of business results, creating new jobs and generating investments in our communities.”

The report said URC contributed $16.5bn to Michigan’s economy, an increase of $3.7bn since 2007, the year the alliance was formed and began benchmarking its impact on the US state. URC was also responsible for $2.15bn in research and development spending in fiscal year 2015, an increase of 53% since 2007.

For the fourth straight year, URC retained its second-place standing in the Innovation Power Ranking, developed by Anderson Economic Group, preparers of the URC Annual Report, among the nation’s most respected innovation clusters.  

The Southern California cluster – consisting of University of California (UC) Los Angeles, UC San Diego and Southern California University – ranked first and the Northern California cluster – made up of UC San Francisco, UC Berkeley and Stanford University) ranked third.

Jeff Mason, executive director of URC, said: “This report demonstrates the collective power of the URC universities, which are highly competitive with the most respected clusters in the country and make a significant contribution to our state’s economy.”

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