Mtech Press Releases
FOR IMMEDIATE RELEASE
March 10, 2005
Industrial Partnerships Program Wins National SBA “Best Practice” Award
Best Practice in Technology Transfer Programs
COLLEGE PARK, MD—The University of Maryland’s Maryland Industrial Partnerships program has won the national “Best Practice” award for technology transfer programs. MIPS was selected as the top national program in its category by the U.S. Small Business Administration’s Office of Advocacy. Awards were presented on March 7 at the Putting It Together: The Role of Entrepreneurship in Economic Development conference held in Washington.
“MIPS was recognized as a well-established program with a proven track record of commercializing technological innovations,” said Dr. Chad Moutray, Chief Economist for the SBA’s Office of Advocacy. “MIPS has solid market-based outcomes that validate its success."
MIPS was selected among 44 applications and 19 finalists to receive the top award in one of four categories. Winners were recognized for spurring entrepreneurship and economic growth, and for demonstrating market-based results.
The MIPS program, established in 1987, teams University System of Maryland faculty with Maryland companies to develop technology-based commercial products. The objective of the program is to transfer university knowledge and expertise directly to Maryland companies, where it can be commercialized and benefit the Maryland economy.
MIPS/faculty-developed technologies have contributed to products such as:
Martek Biosciences’ omega-3 infant food and nutritional additives, licensed to infant formula and nutritional product manufacturers such as Kellogg, Mead Johnson Nutritionals, Abbott Laboratories, and Nestlé;
The entire sail line for Quantum Sails, the second largest sailmaker in the world;
MedImmune’s Synagis®, which prevents a serious lower respiratory tract disease in infants;
Hughes Network Systems DIRECWAY, the world's leading broadband-by-satellite service; and
Black & Decker’s Bullet Speed Tip Masonry Drill Bits, which drill up to two times faster than competitive bits, and drill up to six times more holes per battery charge when using a cordless drill.
MIPS-developed technologies have contributed to products generating more than $7.7 billion in revenue.
Companies from the latest MIPS round of funding anticipate $478 million in product sales, as well as the creation of 468 new high-technology jobs. The program creates jobs at a cost of $2,500 per job, well below the $10,000 national estimate per job created.
"DBED is constantly seeking ways to assist Maryland companies, while at the same time maximizing the impact of State resources,” said Aris Melissaratos, secretary of the Department of Business and Economic Development. “The MIPS Program is one of the best investments by the State of Maryland for economic development, workforce development and leveraging our research and development capabilities to companies interested in relocating to the state. The SBA has officially recognized what we in Maryland have known for quite some time.”
MIPS also benefits the entire university system, according to C.D. Mote Jr., president of the University of Maryland. “MIPS makes it possible for faculty and students to engage in real-world research with direct commercial applications,” said Mote. “The program also fulfills the university’s outreach role by transferring knowledge into the commercial sector with proven results—creating jobs, enhancing the state’s economy, and driving products that improve our lives.”
The Putting It Together: The Role of Entrepreneurship in Economic Development conference was co-sponsored by the SBA’s Office of Advocacy, the Ewing Marion Kauffman Foundation, the Council of State Governments, and the National Lieutenant Governors Association.
MIPS, a program of the A. James Clark School of Engineering’s Maryland Technology Enterprise Institute, provides opportunities for faculty to work closely with Maryland companies to develop technology-based products. For more information about the Putting It Together: The Role of Entrepreneurship in Economic Development conference, visit: www.sba.gov/advo.
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