Why did UT System create the UT Horizon Fund
The UT System is one of the nation’s largest higher education systems having 6 Nobel laureates, 31 members of the Institute of Medicine, 37 members of the National Academy of Sciences, 48 members of the National Academy of Engineering, 53 Members of the National Academy of Arts and Sciences, and 57 Members of the American Academy of Nursing. UT System is a leader in creating intellectual property, ranking 2nd in patent applications, 4th in patents issued, 3rd in licenses and 2nd in startups. However, in 2009 UT System ranked 19th in license income ($42 million over $2.4 million research funding) and is not ranked for equity monetization (less than $1 million). UT System has been successful in creating assets (patents and patent applications) and commercializing technology (licenses and startups) but by comparison less successful at realizing return for its technology (license income and equity monetization). While some research does not or should not have a ‘return’, such as research in the humanities or clinical trials where the sponsor owns all of the IP, other applied research should have a return.