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The first building, known as The Refinery, will house the University of Arizona Applied Research Corp., Tech Launch Arizona and the UArizona Center for Innovation.
The faculty members are recognized in areas including pain therapeutics, heart disease treatment, optical science and online data collection.
Optical Sciences Professor Hong Hua and Regents Professor Emeritus Victor Hruby are being honored as National Academy of Inventors Fellows, the highest professional distinction awarded to academic inventors.
A study conducted by the McGuire Center for Entrepreneurship found that University of Arizona startups generated substantial economic impact, from state revenues to job creation.
ElectroSonix has licensed the UArizona patents for acoustoelectric imaging, a technology that has the potential to improve the accuracy of cardiac ablation in treating cardiac arrhythmias.
Three companies formed to commercialize inventions developed in the James C. Wyant College of Optical Sciences have received funding from UAVenture Capital.
An Arizona professor has has invented a flexible carbon fiber fabric designed to be inserted inside and around a fractured bone. The technology has been licensed to a startup and has already received venture capital funding to take it forward.
UA inventions from the Department of Chemistry and Biochemistry and BIO5 are allowing for a deeper understanding of complex biological processes and opening possibilities for more precise disease diagnosis and treatment.
Tucson has enjoyed a 90% jump in technology jobs over the last five years, making it one of the top up-and-coming tech markets in North America, according to CBRE.
The inventions, patents, licenses and startups that originate at the UA represent the ultimate bridge to creating real-world impact from the work of people throughout the UA community.