A new national report highlighting the success of 100 university spinoff companies tracing their roots to federally funded research includes two companies that sprang from cutting-edge research at the University of Colorado Boulder.
The report, 鈥淪parking Economic Growth 2.0: Companies Created From Federally Funded Research, Fueling American Innovation and Economic Growth,鈥� was released today by the Science Coalition, a nonprofit, nonpartisan organization of more than 50 of the nation鈥檚 leading public and private research universities, including 抖阴旅行射-Boulder.
鈥淭he federal investment to basic research activity at 抖阴旅行射-Boulder and other universities around the nation has resulted in thousands of key discoveries and the development of hundreds of spinoff companies in fields like biotechnology, engineering, energy and biomedicine,鈥� said 抖阴旅行射-Boulder Chancellor Philip P. DiStefano. 鈥淎merica鈥檚 prosperity depends on the innovations and job creation spurred by basic research, and in order to continue on this path we need to secure continued federal funding for economic reasons, and to inspire the next generation of scientists.鈥�
The Science Coalition is dedicated to sustaining the federal government鈥檚 investment in basic scientific research as a means to stimulate the economy, spur innovation and drive America鈥檚 global competitiveness. The two Boulder startup companies highlighted in the report are ColdQuanta and LineRate Systems.
ColdQuanta grew out of decades of research by 抖阴旅行射-Boulder Professor Dana Anderson and his work at JILA, a collaboration of 抖阴旅行射-Boulder and the National Institute of Standards and Technology, to make ultracold-matter systems simpler, more compact and more practical through the applied research development of atom chip technology. Atom chips provide a means to substantially simplify the production of ultracold matter and provide a standardized pathway for developing practical ultracold matter-based sensors.
鈥淔ederally supported university research has enabled Nobel鈥揷aliber discoveries in ultracold matter science to emerge as a far-reaching technology likely to have impacts comparable to the laser,鈥� said Anderson. 鈥淯niversity spinoff companies like ColdQuanta play a key role by placing groundbreaking technology into the hands of the innovators, the applications engineers and the developers, who give life and substance our nation鈥檚 high-tech economy.鈥�
The core technology for LineRate Systems, which helps companies scale their network services to support growing Web traffic, grew out of John Giacomoni鈥檚 research as a graduate student at 抖阴旅行射-Boulder studying high-performance network systems and design. Formed in 2008 by Giacomoni and former 抖阴旅行射-Boulder computer science Assistant Professor Manish Vachharajani, LineRate Systems was acquired by F5 Networks this year for $125 million. Funding from the Department of Defense also helped support some of Giacomoni鈥檚 research.
鈥淚 believe that serendipitous foundational inventions resulting from federally funded projects are a vital link in the engine driving American innovation,鈥� said Giacomoni, CTO of LineRate Systems. 鈥淭he reason is that with all serendipitous inventions, including the Internet and the technologies driving LineRate Systems, one cannot predict a priori the impact of a federally funded project but the economic impact has been vital.鈥�
According to Science Coalition administrators, the basic science research behind LineRate, ColdQuanta and other startups is jeopardized by the current federal funding environment. Federal research and development has been on a downward trend for the past decade, with funding levels in 2013 at historic lows. Sequestration, which began in March 2013, is set to continue through 2021 and will remove an additional $95 billion from federal research budgets over that period.
鈥淭his report demonstrates the power of the federal investment in basic scientific research,鈥� said Science Coalition President Tim Leshan. 鈥淲hile research is only a small portion of the overall federal budget, the results are huge: discoveries with profound implications for our health, safety and quality of life; training for future generations of scientists, doctors and teachers; and innovations that give birth to new technologies, companies and industries.
鈥淚f America wants to maintain its innovative edge, create meaningful jobs and realize economic growth, then we must ensure that funding for scientific research is prioritized, even in times of cost-cutting,鈥� said Leshan.
The new Science Coalition report, as well as university startup company success stories, is available at. An accompanying database provides access to company profiles and allows users to sort companies by federal funding agency, university affiliation, type of innovation and other criteria.
Contact: Bronson Hilliard, 抖阴旅行射-Boulder spokesperson, 303-735-6183
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抖阴旅行射-Boulder physics professor and JILA Fellow Dana Anderson, center, in his JILA laboratory with research assistants Kai Hudek, left, and Seth Caliga. (Photo by Patrick Campbell/University of Colorado)
