University of Washington launches a record 17 start-up companies in FY13; places UW with top five universities for commercialization
The University of Washington launched 17 new start-up companies in the past fiscal year based on UW research technologies, making FY 13 the UW’s single most productive year for start-up formation, and placing the UW among the top five schools in the nation for commercialization efforts, along with MIT, the University of Illinois, the University of Utah, UCLA and Columbia University.
The creation of 17 new companies is nearly double the amount of companies created on average each of the previous five years. In February 2012, UW President Michael K. Young set a goal to double the number of UW start-ups in three years. The UW has reached this goal two years ahead of schedule.
This year’s 17 start-ups span a broad range of businesses—from medical devices and therapeutics to clean technology and software—all born from the UW’s Center for Commercialization (C4C).
“Our inventors take ideas that are barely imaginable today and make them tomorrow’s reality. The ingenuity and innovation of University of Washington students, faculty and staff are improving people’s daily lives here and around the world,” Young said.
Over the past five years, C4C has increasingly funded prototype design, business model development, market validation, as well as helped UW researchers win federal money for technology commercialization. C4C’s mentoring programs give UW researchers access to experienced entrepreneurs from both the UW faculty and the region at large. Seattle’s top venture attorneys coach UW start-ups through the investment process, and venture capitalists and business leaders help UW start-ups recruit some of the region’s top executive talent.
“From our #1 national ranking in the number of licenses signed, to the increasing number of inventions disclosed and patents filed, and now the number of start-up companies generated, the University of Washington is among the top universities in the nation taking ideas to impact,” said Linden Rhoads, Vice Provost for the UW Center for Commercialization. “To generate venture-financeable companies, C4C brings together UW’s entrepreneurial researchers with investors and industry experts. Our programs allow experienced business leaders to make key contributions to promising UW start-up projects. UW faculty and students have access to more—and more experienced—business talent than ever before. ”
The state of Washington benefits not only from the products created by these start-ups, but from the companies themselves. University start-ups create high-quality jobs, with an historical average of 60 employees per company. UW start-ups also attract investment from outside the state and increase the state’s exports.
FY 2013 UW Start-Up Companies
GenetikSignal, provides novel screening methods for discovering anti-aging drugs.
ID Genomics, will provide rapid assessment of virulent bacteria in medical clinics allowing for same-day pathogen identification and enabling lifesaving choices for urgent care.
JointMetrix Medical, pioneering the use of remote monitoring in orthopaedics by developing a body-worn sensor, a smartphone app, and a clinician report that together comprise a system used to remotely monitor patients before and after joint surgery. Their initial product, a knee monitoring system, is currently in use at UW Medical Center.
KitoTech Medical, developing revolutionary proprietary technology for closing wounds with KitoStitch, used for deep wounds like sutures, fast like staples, painless like a Steri-Strip and easy to use as a Band-Aid.
LumiSands, Inc., developing cheaper and more eco-friendly material that replaces an important component of LED lights.
Marine Construction Technologies, developed a novel marine pile design that can reduce noise from impact pile driving to below injury threshold for sensitive fish and other wildlife.
NanoFacture, Inc., bringing to market a technology that addresses the challenge to rapidly concentrate and purify DNA using a very simple protocol with yields comparable to that of popular commercial kits, but at a much lower cost.
Nova TheraNostics LLC, has developed a brighter, longer lasting, and safer Magnetic Resonance Imaging (MRI) contrast agent.
Owl Outcomes, a software-as-a-service that enables health and wellness providers to easily track their patients’ progress over time through an extensive digital library of assessment measures and use those results to collaboratively develop evidence- based treatment plans with their patients.
PatientStream, provides a suite of cloud-based applications that increases hospital operating room efficiencies by replacing whiteboards with an automated, information exchange incorporating cutting-edge display technology.
RGB Hats LLC, released a new computer security-themed card game titled Control-Alt-Hack: White Hat Hacking for Fun and Profit, created for a broad audience with interests in tabletop gaming or science and technology, and to computer security experts interested in a bit of fun. The game was created to expose people to the world of computer security while they play.
Rosetta@Cloud, offering affordable, cloud-based pay-per-use molecular modeling and related services to the biotech and pharmaceutical industry that expedites the drug discovery R&D process while dramatically reducing costs by eliminating the need to purchase and maintain computer clusters and annual software licenses.
Second Wind, applies the basic principles of wind energy to convert the air stream of building ventilation exhausts into useful energy.
SNUPI Technologies, a sensor and services company focused on home safety, security, and loss prevention.
Stella Therapeutics, developing first-in-class small molecules that hold the promise of curing glioblastoma multiforme (a highly aggressive brain cancer) while maintaining patient quality of life
VitalTalk, a nonprofit with the mission of nurturing healthier connections between patients and clinicians through communication skills courses for clinicians, launching an iPhone app, and hosting an innovation conference.
(One company is as yet unnamed)