UAlberta benefits society by transferring research, knowledge and discoveries out of the institution and into the community. One way to ensure UAlberta research solutions have the greatest reach and impact on both society and the economy is commercialization. UAlberta's commercialization arm and business accelerator is TEC Edmonton—a non-profit joint venture between UAlberta and Edmonton Economic Development Corporation. In July 2013, TEC Edmonton was named one of the world's best university business incubators by University Business Incubator (UBI) Index. UBI assesses and benchmarks the performance and best practices of university business incubators.
From lab to market
TEC Edmonton provides the expertise, resources and connections to transform ideas and technologies into business opportunities. They also have the knowledge and experience to evaluate and protect inventions, provide support for licensing opportunities, and advise and grow viable start-up businesses.
When TEC was launched in 2006, no other North American business accelerator was merging university intellectual property with civic and university-based services for entrepreneurs. Visit TEC Edmonton for more information.
UAlberta innovation/commercialization by the numbers
UAlberta tech transfer activity via TEC Edmonton for April 2012 – March 31, 2013 (source TEC Edmonton).
- Spin-off companies - 6
- Patent applications - 96
- License agreements - 24
- Total licensing revenue - $831,958
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