Nanotechnology Now - Press Release: A reputation for innovation

Home > Press > A reputation for innovation

Abstract:
A good university uses its intellectual and innovative strengths the betterment of the institution. A great university uses these assets for the betterment of us all.

According to its 2008 annual report, Louisiana Tech University's Office of Intellectual Property and Commercialization shows that the institution continues to outpace the national average in several measures of innovation productivity and delivering new ideas to the marketplace.

A reputation for innovation

Ruston, LA | Posted on September 9th, 2008

"We cannot help but be amazed at the discoveries of our faculty this past year and the breadth of their inventions," says Dr. Richard Kordal, director of the Office of Intellectual Property and Commercialization (OIPC). "These inventions span a wide range of scientific disciplines from nanotechnology to biomedical engineering."

Tech had a total of 27 Reports of Invention (ROI) this past year disclosed to the OIPC. This averages out to about 20 ROIs per $10 million R&D expenditures, which is approximately five times the national average.

Six new patents were issued to Louisiana Tech this past year, giving the university a total of 25. Of the newly issued patents, three of them have already been licensed to companies.

Louisiana Tech also filed a total of 18 new patent applications. One of these patent applications covered a new device, invented by Dr. Ville Kajaakari, that is placed in a shoe and that can harvest the power from walking motion to recharge batteries or other electronic devices.

Another application covered a method, invented by Drs. Henry Cardenas and Kelly Crittenden, for strengthening bone and/or repairing bone fractures more effectively.

Tech has signed nine new licenses/options during the past year (5 licenses and 4 options) giving a percentage of licenses/option executed to ROIs received of 33%. In just the past five years, Louisiana Tech's license/options activity has more than quadrupled.

"Louisiana Tech faculty are also engaging in entrepreneurship," explains Kordal. "By doing so they are both helping to commercialize their technology and stimulate the local economy."

In the past year, two new Louisiana-based start-up companies were formed based on technology licensed from Louisiana Tech. Both of these companies have opened offices in Tech's business incubator. With these new additions, Louisiana Tech's two business incubators are at full capacity.

However, among all of these achievements and accomplishments, Louisiana Tech is most pleased to see that some of its previously licensed technologies are now reaching the marketplace and are beginning to benefit the public.

"AdmitOne Security, formerly BioPassword, recently launched a software product based on Dr. Vir Phoha's technology that helps prevent the fraudulent use of digital identities," says Kordal.

"As we look toward the future, we are excited about the prospect of additional Louisiana Tech-based products being launched into the marketplace and the positive impact they will make on our society."

The inventions at Louisiana Tech are capturing the attention of entrepreneurs, established companies and other potential partners and collaborators from around the nation.

"This is just another of a long line of examples of how Louisiana Tech has gained a strong reputation for innovation within the business community," states Kordal. "There are many programs and departments here at Tech are regarded as highly valuable assets within the community."