University nearly doubled number of invention disclosures between 2012-2016
Baton Rouge, La. (November 19, 2018) – The Baton Rouge Area Chamber (BRAC) today published its annual entrepreneurship and innovation report, focusing its attention on Louisiana State University’s (LSU) performance in key technology transfer and commercialization metrics. In the four-year period reviewed, LSU saw significant growth in key metrics including invention disclosures received, new patent applications filed, issued U.S. patents, and licenses executed. The report is attached and is available online at brac.org/reports.
The report analyzes metrics including issued U.S. patents, startups formed, and total research expenditures. Additionally, BRAC compared LSU’s performance to the average performance of the 13 other member universities of the Southeastern Conference (SEC) between 2012 and 2016.
“LSU has shown significant progress since BRAC last researched its performance on innovation practices almost a decade ago,” said Adam Knapp, president and CEO of BRAC. “While the report shows there is still more work to do, the program is making strides and it should encourage the leadership at the university to invest and push toward the innovation goals outlined in LSU’s Strategic Plan 2025.”
Key takeaways from BRAC’s 2018 entrepreneurship and innovation report are:
- In 2012 LSU lagged behind the SEC peer average in almost every key technology transfer metric.
- LSU increased its number of invention disclosures received from 88 disclosures in 2012 to 173 in 2016, a 97 percent increase. LSU’s performance in this metric is the best evidence that the innovation culture at LSU is changing for the better and is particularly promising for the future of technology transfer at the university.
- Between 2012 and 2016, LSU’s rate of improvement outpaced the SEC average in the categories of invention disclosures received, new patent applications filed, issued U.S. patents, and licenses executed.
- Between 2012 and 2016 LSU’s total research expenditures fell by 3 percent, while the SEC peer average increased by 11 percent.
- Between 2012 and 2016 LSU’s industry-sponsored research expenditures fell by 40 percent, while the SEC peer average increased by 21 percent.
The economic impact of tech transfer activities is potentially significant. As such, BRAC recommends that innovation be kept a priority at the highest levels of leadership at LSU, that performance gains in invention disclosures be ensured across all colleges and campuses, that the rate of licenses executed be benchmarked across campuses to drive license income, that research expenditures across LSU be increased, and that entrepreneurship spinouts be more aggressively pursued.
The full report is available online at brac.org/reports.
About the Baton Rouge Area Chamber
The Baton Rouge Area Chamber (BRAC) leads economic development in the nine-parish Baton Rouge Area, working to grow jobs and wealth and to improve the business climate and competitiveness in the region. Today, BRAC investors include more than 1,500 small businesses, mid-sized firms, large industry and entrepreneurial startups, as well as individuals and organizations that support business and economic development. In this capacity, BRAC serves as the voice of the business community, providing knowledge, access, services and advocacy. More information is available at www.brac.org.