The University of Michigan launched 31 startup companies over the past fiscal year, up 40% over the previous year. The startups raised $237 million and brought in $14.5 million from licensing. It’s an especially impressive accomplishment considering the COVID pandemic closed so many doors.
University researchers also launched a record 522 inventions and 163 US patents. Some of the splashier startup successes include biotech Ascentage Pharma, a startup working to cure cancer, hepatitis B, and age-related diseases; healthcare company Great Lakes Discoveries; water infrastructure analytics company BlueConduit; and medical testing company LynxDx. And for those who like companies that use cute robots to deliver food, the university launched one of those, too: Refraction AI.