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The Office for Technology Commercialization (OTC) oversees all aspects of technology commercialization at the University, bridging the gap between the lab and the marketplace to connect faculty with companies to achieve results.
The mission of the OTC is to facilitate the transfer of University of Minnesota research to licensees for development of new products and services that benefit the public good, foster economic growth and generate revenue to support the University’s research and education goals.
Each customer has specific business needs. To best respond to those needs, the OTC is organized into industry groups, ensuring that the right knowledge and experience is at the table. Below are our various business units:
OTC is charged with aggressively seeking commercial partners to license high-potential technologies. OTC contributes to the University’s strategic positioning goals by making promising University-based technologies available to the public (from discovery to utility) and by maximizing the return-on-investment value of University Intellectual Property. Through marketing and licensing of technology, OTC generates financial returns for the institution from licensing fees (in the form of cash, equity, or other consideration), the royalty rate paid on company revenues, patent reimbursement, and development milestone payments.
The University of Minnesota – Office for Technology Commercialization makes technologies available in a variety of ways: