The University of Pittsburgh’s Office of Innovation and Entrepreneurship reported unprecedented achievements for Fiscal Year 2025, marking a robust year of growth and impact across its four collaborative units: the Innovation Institute, the Big Idea Center (BIC), the Institute for Entrepreneurial Excellence (IEE), and the Office of Industry and Economic Partnerships (OIEP). These collective efforts have strengthened the innovation and entrepreneurship ecosystem on campus and throughout the region as Pitt innovators strive to make a difference in the world with their ideas and discoveries.
The Innovation Institute announced a record 444 invention disclosures submitted by Pitt faculty, students, and staff, a remarkable 13 percent increase from the previous record set in Fiscal 2020. Pitt also spun out 15 new startup companies based on Pitt-developed intellectual property. This significant output is also reflected in Pitt earning the #20 spot in the Top 100 U.S. Universities Granted Utility Patents in 2024, as recognized by the National Academy of Inventors (NAI). To support Pitt innovators in their commercialization pursuits, the Innovation Institute partnered with organizations across campus to launch new programs like Pitt SPARK, Pitt.INC, and the Community of Innovators, offering crucial funding, education, mentorship, and commercialization resources, providing the support they need at every step of the innovation journey.
The Big Idea Center (BIC) FY25 saw record interest in BIC programs, with an unprecedented number and diversity of applications. Following a successful pilot, the ChangeMaker Scholar Program officially launched, empowering students from all levels and all disciplines with innovation and entrepreneurial skills. The BIC also awarded over $100,000 to student teams through its pitch competitions, nurturing the next generation of innovators. A crowning achievement was Pitt student-founded Korion Health making history by winning the $1 million Hult Prize, demonstrating the global potential of Pitt’s student innovators.
The Institute for Entrepreneurial Excellence (IEE) continued its mission of supporting regional business growth. Over the past year, IEE engaged 1,730 clients through consulting services, educational programming, workshops, supply chain development and networking opportunities. Highlights include the “Doing Business With Pitt” supplier diversity events and its ongoing “UPMC Essentials for Success” series, which has reached over 2,000 participants across five states. The Pitt Small Business Development Center (SBDC), housed within IEE, welcomed Annia Aleman as its new Director, further strengthening its commitment to empowering business owners. This year also celebrated the graduation of 27 business leaders from the Entrepreneurial Fellows Class, with 34 new members joining to build a robust network shaping the region’s economic future.
The Office of Industry and Economic Partnerships (OIEP) facilitated nearly 50 new industry collaborations, securing an impressive $26 million in industry-sponsored research funding, solidifying Pitt’s leadership in translational science. OIEP also launched the Pitt Tech Explorer, an innovative AI-powered platform providing intuitive access to over 950 technologies developed at Pitt. This tool simplifies the exploration and connection with innovations available for licensing, enhancing Pitt’s network and catalyzing industry partnerships.
“Our Fiscal Year 2025 results are a testament to the unwavering spirit of innovation and entrepreneurship that thrives at the University of Pittsburgh and throughout our vibrant region,” said Evan Facher, vice chancellor for innovation and entrepreneurship and associate dean of commercial translation at the Pitt School of Medicine. “These record-breaking achievements are a direct result of our collective commitment to transforming groundbreaking ideas into tangible impact, fostering economic growth, and empowering a new generation of leaders.”
The University of Pittsburgh’s Office of Innovation and Entrepreneurship extends its heartfelt gratitude to its dedicated staff, whose tireless efforts made these successes possible. Their commitment continues to drive the University of Pittsburgh forward as a beacon of innovation.