A total of 78 License and Option agreements were signed, including 17 new startup companies.
Gross Income for the year was $7.9 Million, which included no cash-in of equity. Of the gross, $6.7 Million was in royalty income and $1.2 in patent reimbursement income. $1.3 Million was distributed to inventors, $1.1 to departments, $530K in unrestricted research funds, $271K to Whitehead, and a net of $750K to the General Fund.
We continued an active licensing and technology transfer program for Lincoln Laboratories which now accounts for 20% of our new invention disclosures and a similar fraction of new licenses.
John Preston has resigned as Director of Technology Development, effective December 31, 1995. Lita Nelsen remains as Director of the Technology Licensing Office.
Members of the Technology Licensing Office have been very active at the state and federal level in aiding legislation and other activities to do with economic development, changes in patent law and changes in technology transfer legislation. They have also been active at the committee and board levels with the Association of University Technology Managers, the Licensing Executives Society and the Association of Federal Technology Transfer Executives.
MIT Reports to the President 1994-95