UNM\u27s Science and Technology Corporation: The Impact of Start-Up Companies

The UNM Science and Technology Corporation (STC) asked the Bureau of Business and Economic Research (BBER) to conduct a study of the economic impact on the economy of New Mexico of start-up companies using STC technologies; BBER conducted a similar analysis in 2004. This analysis updates the 2004 study and emphasizes the impact of high-tech start-up companies that have had a relationship with STC from 2004 to the present. STC is a nonprofit corporation formed for the purposes of protecting, commercializing, and transferring faculty inventions and university patents. At the time of this study, the STC was actively servicing 16 start-up companies. These companies had attracted over $12.4 million in venture capital money to the state since 2004; had sales of $7.0 million in 2009; paid $5.8 million in salary and benefits in 2009; employed 88 full-time, part-time, and contract employees with average compensation of $66,225. Nearly all of STC\u27s technologies awaiting licensing are in industries with above average compensation, making STC a driver for good jobs for New Mexicans and an effective conduit not only for UNM research but also UNM graduates who want to enter high-tech fields