Report: Ohio universities lag in research transfer

COLUMBUS (AP) — A new report says Ohio is below average when it comes to taking university research and turning it into viable commercial products.

The Ohio Board of Regents report proposes a statewide commercialization effort to create jobs, promote economic growth and increase wealth in the state.

Regent Vinny Gupta, the chairman of the Regents’ Technology Transfer and Commercialization Task Force, said today that Ohio has done well seeking out and winning important research dollars but must be more effective at turning research into commercialized products.

A 2010 Milken Institute report ranked Ohio 20th out of 50 states in research and development.

The Regents’ report was created with input from business and higher education leaders, researchers, finance and venture capital representatives, industry CEOs and student-intern researchers.