Promising Tech Companies Showcased at UF Tech Showcase

The University of Florida tried to play matchmaker Tuesday, with investors and entrepreneurs from across the state and nation on the prowl for the kind of matches that pay big dividends, bring technological and medical improvements to market and create high-wage, high-tech jobs.

UF's second annual Technology Showcase at the UF Hilton presented 16 of its most promising startup companies to spin out of faculty research in the fields of pharmaceuticals, medical devices, agriculture, materials science and semiconductors.

Research and technology licensing are big business at UF. Last school year, research grants totaled $583 million with about 2,000 faculty working on 6,000 projects, according to Win Phillips, vice president of research. Licensed patents generated $48 million in revenue from the likes of Gatorade, the Sentricon termite system and Trusopt glaucoma treatment.

Despite statewide budget cuts in a down economy, UF President Bernie Machen said in opening remarks Tuesday that he expects the Legislature to support a $25 million venture fund for UF spinoffs. Legislative leaders have emphasized economic development of technology companies as a way to diversify and kick-start the state's economy.

Word is getting out about the opportunities coming out of UF. The Milken Institute named UF the top public university in transferring research to market.