|March 26, 1999||Volume 6, Number 13|
UST awarded $300,000 from NSERC
University of Saskatchewan Technologies Inc. (UST) - the University's technology transfer company - will get a $300,000 boost to its technology transfer activities over the next three years from the Natural Sciences and Engineering Research Council (NSERC).
The grant is the largest awarded to any Prairie university under NSERC's 1999 Intellectual Property Management Program (IPM).
Dr. Branko Peterman, UST president and CEO, says the grant "provides the funds necessary to enhance UST's intellectual property management activities on campus...and secures UST's future."
The new money will be used to:
IPM grants enhance technology transfer activities at Canadian universities and foster professional development of technology transfer professionals.
This is UST's second IPM grant. A 1996 IPM grant allowed UST to create the critical mass necessary to carry out the management of intellectual property at the U of S. UST grew from a staff of one to five employees.
Since 1996, there's been an increase in the number of patent applications and key agreements signed with corporate partners, resulting in a steady increase in patent cost recovery, licensing revenue, and royalty revenue. UST has filed more than 35 patents and licensed 13 technologies developed by U of S researchers.
Since its creation in 1990, UST has focussed on licensing agreements and co-operative research agreements with companies. UST's goal over the next five years is to create at least 10 new spin-off companies.
"Acting as an agent for the University, UST will increasingly contribute to the economic development of Saskatoon and the province," Peterman says.
UST, located in Kirk Hall, is wholly owned by U of S and is overseen by a 12-member board of directors drawn from the academic and private sectors.
For more information about UST, visit the web site at www.usask.ca/ust.
- Kathryn Warden
For further information, visit the web site or contact email@example.com
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