The Missouri University of Science and Technology earned record royalty income of over $698,000 from patents on commercialized inventions and products for the fiscal year that ended June 30, the university announced Friday.
It’s a 32% increase over the previous year, bringing the university’s cumulative royalty total to over $5 million.
S&T students and faculty submitted a record 54 application disclosures, which are documents filed when an invention may have commercial value.
Twenty-six U.S. and foreign patents were issued to the school.
S&T researchers also entered into 14 agreements that transfer university intellectual property rights directly to corporate sponsors.