USF's innovation programs pump $582M into the economy

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Tuesday, September 17, 2019

September 17, 2019

The University of South Florida’s innovation ecosystem pumps more than half a billion dollars annually into the state’s economy, with the bulk of that staying in the Tampa Bay Area, a new report says.

Miami-based consulting firm the Washington Economics Group finds that USF’s innovation enterprise, which includes the Technology Transfer Office, Tampa Bay Technology Incubator, the Office of Corporate Partnerships, and startups, early-stage companies, researchers and community partners in the USF Research Park, pumped $582 million annually into the Florida economy in 2018, with $548 million of that staying in Tampa Bay. That is a significant 45 percent increase from the firm’s initial analysis three years ago.

The findings further bolster USF’s growing national reputation as a major research university. USF, through its Technology Transfer Office, ranks among the top-10 public research universities in the country, and 16th worldwide, in securing patents for new technology, according to the National Academy of Inventors and the Intellectual Property Owners Association. The state university system’s Board of Governors has also designated USF as a preeminent research university, bringing in more money for enhanced research, top-notch faculty and additional student success programs.

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