University says faculty research fuels 15 startups

KIMT WEB News

MINNEAPOLIS (AP) — The University of Minnesota says it launched a record 15 startup companies based on discoveries and inventions by its researchers during the past year.

The school says the new companies, which top the previous record of 14 startups in fiscal 2013, demonstrate the university’s commitment to bringing innovations to the market in key industries, such as medical technology and clean energy.

For example, mechanical engineering professor, Allison Hubel developed the technology behind Minneapolis-based Meso-Flow. The company offers a disposable device for cleaning and storing blood cells used in transplants and other medical procedures. The new process is safer and less expensive.

Since forming in 2006, the university’s Venture Center has worked with an extensive network of entrepreneurs, investors and venture capitalists to create a total of 67 startup companies.

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