Technology Ventures Hosts 2023 U of A Innovators' Awards Banquet

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U of A Chancellor Charles Robinson welcomes invitees.

Technology Ventures, a unit of the University of Arkansas' Division of Economic Development, hosted the 2023 Inventors' Awards Banquet on Oct. 26 in honor of U of A researchers with issued patents for 2022.

Inventors and guests were welcomed by Chancellor Charles Robinson and Technology Ventures' assistant director for marketing and business compliance, Sarah O'Brien. The program featured a keynote address by Don Meyer, CEO of NTS Innovations, which has licensed patents from the university.

Mike Malone, vice chancellor for economic development, and Margaret McCabe, vice chancellor for research and innovation, spoke of the importance and impact of research commercialization at the University of Arkansas. Luke Howard of Hill Records, the U of A's student-run record label, provided music for the event.

David Hinton, executive director of Technology Ventures was joined by Chancellor Robinson, Malone and McCabe to present the patent award plaques. Go to the full list of awarded patents and inventors.

Research commercialization at a land-grant university, such as the University of Arkansas, plays a crucial role in translating academic research into practical applications, fostering economic development, and contributing to the university's mission of serving the public while addressing societal needs.

Land-grant universities often conduct research that generates new technologies, innovations and intellectual property, and the U of A is no different. Technology Ventures is responsible for commercializing the intellectual property that is generated by the U of A.

Commercialization facilitates the transfer of discoveries from the academic setting to the broader community, where they are developed into products and services that benefit society. Commercialization often involves collaboration between academia and industry. This interaction can lead to mutually beneficial relationships where industry partners gain access to cutting-edge research and intellectual property, and universities benefit from industry expertise, resources, and potential funding opportunities.

Commercializing research contributes to economic development by fostering the growth of startup companies, attracting industry partnerships, and creating job opportunities. This helps to translate academic knowledge into tangible economic benefits for the local and regional community. It helps to attract, retain, and grow talent and companies to Northwest Arkansas.

Research commercialization also promotes an entrepreneurial culture within the university community. Faculty, students, and researchers may be inspired to start their own companies based on innovative research, contributing to the growth of the entrepreneurial ecosystem and creating employment opportunities. Many resources are available through the Office of Entrepreneurship and Innovation and the Arkansas Small Business Technology Development Center to help entrepreneurs gain experience and confidence. This contributes to the overall educational mission of the university and professional development for employees.

About Technology Ventures: The University of Arkansas Technology Ventures, part of the Division of Economic Development, manages, protects and commercializes the intellectual property and research tool portfolio of the University of Arkansas. Technology Ventures serves the university's faculty, staff and students as well as external inventors and entrepreneurs to disseminate technology, innovations, products, creative works and knowledge to the public market to positively impact society. In this way, Technology Ventures also serves the public as it is our responsibility to enable public utilization of products derived from university research.