UCI Beall Applied Innovation first opened its doors in 2015 with the ambitious goal of expediting technology transfer and research commercialization at UC Irvine (UCI), and to produce a world-class entrepreneurial ecosystem in Orange County.
Since then, numerous programs have been developed to support entrepreneurs of every stage. Here is a bird’s-eye view of what we have accomplished:
Proof of Product (POP) Grants is a funding program that, through Applied Innovation, accelerates the development of UCI’s commercially promising technology. Faculty innovators apply for grants of up to $100,000 to help bring meaningful technologies from promise to product. Since 2017*, 34 grants totaling $2.5 million have been awarded.
When it comes to startups, 134 companies based on UCI patents have been founded since 1986, 45 of which were formed since Applied Innovation’s start in 2015*.
Since 2016, Applied Innovation’s Industry Sponsored Research team has facilitated over $66 million in sponsored research funding, 29 percent of which was awarded in 2019* alone. Additionally, we have set records in the number of new companies drawn to UCI to engage with our premier researchers, with 29 percent of the sponsors in 2019* being new sponsors. These funds provide campus innovators with the means to continue impactful research.
For more than 50 years, UCI has been an engine helping to drive the local economy. This is not just by graduating a highly educated and diverse workforce, and not just from world-class research that leads to life-enhancing discoveries, but also through industry building from UCI-affiliated startups. There has been $25 billion of acquisitions and investments in UCI-affiliated startups – 61.3 percent of that funding stays in California, with two-thirds staying in Southern California and over one-third fueling growth in Orange County.
Applied Innovation has consistently moved at the speed of business for the entirety of its history. And as it approaches its fifth anniversary, it will hit the ground running and continue to be the dynamic, innovative central platform for the Orange County entrepreneurial ecosystem.
Learn more about UCI Beall Applied Innovation’s resources.
*Fiscal year: July 1 through June 30.