100 companies that grew out of federally funded research at universities and national laboratories are highlighted by a new report from The Science Coalition.
100 companies that grew out of federally funded research at universities and national laboratories are highlighted by a new
report from The Science Coalition.
The fundamental research that led to these 100 companies totaled $330 million, a relatively small sum considering that these companies already employ 7,200 people.
And, the companies have a high success rate: The Science Coalition reports that 89 of the 100 companies in their 2010 report are still in business. For the 20 youngest companies (less than five-years old in the 2010 report), 80 percent were still around in 2013. In comparison the Bureau of Labor Statistics shows only 68 percent of new businesses survive three years and only about half survive 5 years.
The major sources of university research funds for the 100 companies were the Department of Defense, the National Institutes of Health and the National Science Foundation. The U.S. Department of Energy (DOE) is the fourth most important in number of supported companies; much of the Department of Energy funding may be through its national laboratories.
Advanced Diamond Technologies is one firm that was helped by basic research funded by the DOE and highlighted in the 2013 report. The company produces thin, smooth diamond films manufactured from natural gas. Their products have application for Micro-Electro-Mechanical Systems (MEMS) and hydrodynamic bearings and pump seals with improved reliability for offshore drilling and production.