Nearly $40 million in revenue and more than 270 jobs—that's what University of Oregon-affiliated startups brought to the state in the most recent fiscal year. Good as these numbers are, the trend they represent is even better.
In just one year, revenue from these companies grew 11.1 percent, while the number of jobs they provided increased by 8.3 percent. (The UO's "return on innovation" also rose to 8.9 percent.)
Since an average of two UO-backed startups are launched each year, this growth is likely to stay steady--or even spike, if the Oregon State Legislature approves recently proposed plans for the Willamette Valley's Regional Accelerator and Innovation Network.
Here at the Lundquist College, we are proud of our connections with companies like Cascade Prodrug, QE Chemicals, Perpetua Power Source Technologies, and Floragenex. Looking forward, we are confident that our Business Innovation Institute will provide an ideal springboard for many more ventures like these.
Nimble startups and smart technology are truly the wave of the future, UO Vice President of Research and Innovation Kimberly Andrews Espy observed in a recent article in Open for Business, the magazine of the Eugene Chamber of Commerce.
"Small, innovative technology companies hold great promise for Oregon," said Espy. "They tend to grow quickly and create stable, high-wage jobs that attract and keep talent in the state, and on a broader scale, create the products that are changing our world."