September 25, 2013
A report released by UVa Innovation has shown that businesses with research-and-development ties to the University of Virginia created more than 850 jobs and generated millions of dollars for the local economy.
They say that 53 active companies have been founded on research discoveries made by UVa. That number includes companies like biotech firm Tau Therapeautics LLC and educational service companies like Teachstone Training LLC.
UVa Innovation discovered this through a survey sent to these companies asking about things like job creation numbers and how much external funding these companies gets.
UVa President Teresa Sullivan said in a statement to Cavalier Daily, “With support from U.Va. Innovation and other valuable resources, the spin-off companies built on U.Va. research discoveries create jobs, attract investments and, in the process, boost the economy across the Commonwealth and beyond.”