Where Today’s Ideas Become Tomorrow’s Business
In bioscience labs housed in Yale University’s sprawling West Campus, researchers are studying how cancer cells become aggressive and attack surrounding tissues. A few miles away at Tsai CITY, a group of students work together intensively on finding answers to the challenge of climate change. Down the street at the Yale Innovation Summit, faculty and students pitch in front of 100+ investment firms for the chance to win $2 million in funding.
Just another day at Yale University, one of the central driving forces of Connecticut’s innovation economy.
In its last fiscal year, the Yale Office of Cooperative Research (OCR) estimates nearly 60 New Haven startups based on Yale intellectual property raised more than $1.1 billion in venture capital and $11 billion in the public market. OCR alone launched nine new faculty ventures with $97.9 in aggregate funding, while 41 corporate sponsored/collaborative research agreements were reached. OCR companies were issued 174 patents last year, 102 international and 72 US. Two Yale startups secured IPOs in the past two years: Arvinas (ARVN) and BioHaven (BHVN).
The Blavatnik Fund for Innovation at Yale bridges the gap between innovative, early-stage life science research and successful development of high-impact biomedical products. An integrated approach combines essential funding with development and business expertise, leading to commercial partnerships that bring forth new biomedical discoveries that create value and benefit society. In 2020, the Blavatnik Fund will award up to $2.6 million in grants for new and early-stage companies.
The Tsai Center for Innovative Thinking (Tsai CITY) inspires students from diverse backgrounds and disciplines to solve global, real-world problems through partnerships applying of the principles of innovation and entrepreneurship. For example, in semester-long accelerators, students formulate and develop innovative ideas, then transform them in effective organizations, projects, and ventures through workshops, mentorship, and startup funding. In the past three accelerators, 29 teams created for-profit and non-profit organizations. A new MedTech Accelerator was launched in 2019, in partnership with the Center for Biomedical Innovation and Technology.
In all, Yale is home to 13 Innovation Centers, including:
- Center for Biomedical Innovation and Technology
- Center for Business and the Environment
- Center for Collaborative Arts and Media
- Center for Engineering, Innovation and Design
- Dwight Hall at Yale: The Center for Public Service and Social Justice
- Innovative Health Yale
- Landscape Lab
- Office of Cooperative Research – Central Office and Medical Office
- Policy Lab
- School of Management Program on Entrepreneurship
- School of Management program on Social Enterpreise
- Tsai Center for Innovative Thinking at Yale (Tsai CITY)