A cultural shift is underway at Johns Hopkins, where an emphasis on publishing scientific research is increasingly being partnered with a focus on bringing research ideas to market so they reach consumers and have a positive impact on society at an accelerated pace.
Under the leadership of President Daniels, who has made it a priority to support innovation and entrepreneurship across the institution, the university’s entrepreneurs are being encouraged to evolve their ideas into products, including software, treatments, and devices that can be commercialized for the benefit of society. In fiscal year 2016 alone, Johns Hopkins executed 162 new license and option agreements to commercialize technologies, submitted 501 new U.S. patent applications, started 22 new companies based on JHU intellectual property, and generated $58 million in licensing revenue.
Johns Hopkins Technology Ventures, which was newly restructured at the time of the first Ten by Twenty progress report, continues to help bring Hopkins’ discoveries to the world, with through the expansion of the services, space, and funding offered to university innovators. These efforts will grow even more in 2017 as physical space for innovation more than triples with the opening of our FastForward innovation hub, FastForward 1812 in East Baltimore, and FastForward Homewood’s move to a larger location in Remington that will offer additional co-working, office, laboratory, and conference space for startups.