Business & Technology
Ohio State Opens Center to Turn Research Into Cash
COLUMBUS, Ohio (AP) - Ohio State University is opening a storefront center to link researchers, students and entrepreneurs in an effort to turn ideas into marketable products and jobs.
The Columbus Dispatch reports the $2 million Office of Technology Commercialization and Knowledge Transfer opens tomorrow.
The office sits in a busy area off campus that includes restaurants, a book store, a movie theater and other businesses. Video kiosks at the site show discoveries in various fields, such as medicine, agriculture and bioengineering.
Brian Cummings joined Ohio State last year and was handed the task of turning ideas into cash. He's says the university is a leader in research but has not converted it into commercially viable businesses.
The university spent $756 million on research in 2010 and garnered $1.4 million in licensing revenue.