Changes

<span style="font-size: 12px;">The Office for Technology Commercialization (OTC) was founded to get the technologies that result resulting from this research into the hands of the public. They&nbsp;</span>oversee all aspects of technology commercialization at the University, bridging the gap between the lab and the marketplace to connect faculty with companies to achieve results. Each stakeholder has specific needs. To best respond to those needs, the OTC is organized into industry groups, ensuring the right knowledge and experience.

In addition to overseeing research and licensing agreements, the OTC also administers the <u>Venture Center (VC)</u>''.&nbsp;''The VC works with researchers, entrepreneurs, and investors to create companies based on University research. All University-owned Intellectual Property is assessed for compelling disruptive and return potential. Those deemed to have adequate potential are moved into a pipeline. The VC has the capability to help develop a business plan, recruit management, and facilitate the formation of a new, independent company with licensing agreements. Last year In 2013 alone, the U of M spun-off 15 startups, on par with Stanford & MIT.