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MINNEAPOLIS (05/04/2017) —  The University of Minnesota has one of the leading technology commercialization enterprises among U.S. universities, according to a recent research report.

The Milken Institute, a nonprofit think tank based in California, ranked the U’s Office for Technology Commercialization sixth among U.S. public research institutions and second in the Big Ten in its “Best Universities for Technology Transfer” report, released last month. When including private institutions, the U places 14th. The University of Minnesota outpaced schools such as the University of Michigan and the University of California, Los Angeles.

The report focuses on four key indicators of tech transfer success for each institution: how many patents it was granted, how many technology licenses it issued, how much income its licenses brought in, and the number of startup companies it formed. These measurements were averaged over four years, from 2012–2015.

Notably, among the more than 200 U.S. research institutions ranked, the University of Minnesota placed fourth in licenses executed and 10th in licensing income.

Apart from highlighting the top universities in tech transfer, the Milken Institute report also outlines the vital role of research universities and argues research funding should be a top priority for enhancing economic growth in the U.S.

Read the full report.