UARF Wins Excellence Award

Akron, Ohio, Nov. 14, 2007 — The University of Akron Research Foundation (UARF) has won the University Economic Development Association's 2007 Award of Excellence in Technology Commercialization for its contribution to higher education and regional economic growth.

UARF, a university-affiliated nonprofit organization that commercializes research at The University of Akron, bridges gaps between industry and the university, facilitating the transfer of technology to private companies. It also provides intellectual property, commercialization and enterprise creation support to UA faculty, staff and students, and other Northeast Ohio groups.

UARF's efforts have led to substantial increases in both research funding and licensing revenue. Prior to its formation in 2001, UA received $23.8 million in research grants and contracts and $270,000 in licensing revenue. In 2007, UA brought in $32.8 million in grants and contracts and $6.3 million in licensing revenue.

“There is no doubt that UARF and its talented staff have added substantial value by promoting university technology and enhancing the university's research mission,” said Vice President for Research George Newkome, who gave a presentation on UARF to the University Economic Development Association's awards committee.

The University Economic Development Association is an organization of economic development leaders from universities, colleges and industry. Other award nominees included Montana University's MilTech collaboration to transfer national defense-related technology and the University of Pennsylvania's East Stroudsburg University Business Accelerator Program.

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