Stanford University is using $625,859 of its royalties from patents and licenses to fund 24 research projects, aimed at younger faculty members.
“These seed grants will help our junior faculty to develop their new ideas and compete successfully for (other) research funds,” said Arthur Bienenstock, dean of research.
This year, there were 80 grant proposals from assistant or associate professors within their first three years at Stanford.
The amount of money Stanford receives from patents and licenses varies significantly from year to year. This past year, the university received $45.4 million in royalties. Cumulatively, the university has received $594 million since 1970.