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16 August 2017

Minnesota celebrates record year

University of Minnesota has revealed it launched 18 spinouts during the past financial year, putting the total number at 119.

Author: Thierry Heles, editor

University of Minnesota announced yesterday it has generated a record 18 spinouts during the past financial year of which 16 companies retain their headquarters in the state.

The spinouts were launched through the Office for Technology Commercialization’s Venture Center, which was founded in 2006 and has now launched a total of 119 spinouts.

A total of 78% of the 119 spinouts remain active and of these, 79% are based in Minnesota and the remainder are spread across 14 US states and four other countries. Together, they have attracted $400m in equity funding to date.

Russ Straate, associate director of the Venture Center, said: “It is our mission, and part of our responsibility as a land-grant university, to help the great research minds at University of Minnesota navigate the path from lab to market.

“We are excited by the potential these 18 new companies hold to improve society by bringing research-based solutions to the public in a wide range of fields, from energy storage to agriculture technology.”

The 18 new spinouts are:

  • Aerem, which has developed a gas particulate filter system to reduce car emissions;
  • Antibiotic Alternatives, which has created antimicrobial agents to prevent infection;
  • Carponentry, which is working on a residential housing product;
  • Cell Therapy Solutions, a medical device manufacturer focused on reducing cell loss, processing time and labour costs for preserved cells;
  • Cleanair-Care, which has developed a renewable, energy-efficient technology to clean outside air in urban areas;
  • Ensor, which is working on battery technology that can triple energy density and offer minimal loss in capacity retention;
  • EnVerde, which is commercialising technology to convert organic waste materials into synethetic gas to power generators;
  • Farm Vision Technologies, which has developed imaging software for drones to offer farmers an insight into their crops;
  • General Probiotic, which has licensed research into probiotics for farm animals that fight gastrointestinal infections;
  • Metron, which is working on technology to capture mercury during cremation to prevent the chemical entering the atmosphere;
  • Ox2 Therapeutics, which is commercialising a therapy for solid-tumour cancers;
  • R5VR, which is offering software to turn architectural drawings into virtual reality content;
  • Resynergi, which has developed technology to turn waste plastic into oil;
  • Sironix Renewables, which combines plant-based ingredients into chemicals for use in products such as laundry detergent and agricultural pesticides;
  • Soundly, which has created an app to offer a non-invasive way to reduce snoring;
  • Sustainalytics, which will support cities and other communities with an assessment of environmental and social impact of infrastructure projects;
  • Turing Tumble, which is set to release educational games that teach children basic principles of software coding using a mechanical computer; and
  • Virtus Aero, which will provide support for users of US3D, a software that models heat flows at supersonic speeds.

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