URVentures works with University of Rochester faculty and staff to protect, develop and commercialize the University’s intellectual property. Additionally, URVentures is involved in compliance, revenue distribution of licensing income and contract negotiation.
In 1980, the Bayh-Dole Act gave non-profit institutions the right to elect title to their inventions that had been sponsored by federal funds, so long as these institutions agreed to pursue the development of the technologies. Under Bayh-Dole, Universities have certain responsibilities, including reporting inventions to the funding institution(s) in a timely manner, and sharing income from those inventions with the inventors.To keep up with the extensive reporting requirements, and to ensure compliance with Bayh-Dole, most universities have established an office to coordinate technology transfer activities. At the University of Rochester, this office is URVentures.
The federal government is the chief source of external funding for R&D across the United States. Prior to 1980, the United States government owned any invention discovered or created through the expenditure of federal funds. The Bayh-Dole Act of 1980 gave non-profit institutions ownership rights to inventions that had been sponsored by federal funds, as long as the institution pursued the development of the invention.
Internally we work with faculty, staff, researchers and graduate students. We work closely with University counsel, deans and department chairs, and central administrative offices of the University. Outside of the University we are involved in the local and regional entrepreneurial ecosystem.
Our overall mission is to help translate research into products that make the world ever better. In pursuit of that mission, URVentures is staffed with an experienced team with scientific, legal, and business backgrounds. In addition to expertise, URVentures staff have valuable connections and resources to help bring your invention to market.