Despite an unpredictable landscape, tech entrepreneurship is thriving.
TIP Fellow Roya Mohaved presents research from her summer fellowship in user design with The Feel Good Lab company. Contributed photo.
UConn startup companies and entrepreneurs set several records and milestones in the 2025 fiscal year, bucking a challenging national landscape.
Technology Commercialization Services (TCS) reported that UConn received 117 invention disclosures in FY2025, a 30% increase over the previous year. Additionally, the Technology Incubator Program (TIP) sported record fiscal growth by doubling revenues over the past two years.
"We've achieved remarkable growth at a time when financial markets have been unpredictable and we've had to really rethink our approach to innovation at UConn," says Pamir Alpay, UConn Vice President for Research, Innovation, and Entrepreneurship. "Our TCS team has done incredible work to booster intellectual property and build our tech incubator. It speaks well to the present and future of invention at UConn, with positive impact on research and workforce development."
TIP companies raised $97.8 million in new funding, an increase of 39% from FY2024. They also reported $9.9 million in revenue, doubling figures from FY2023 and rising 40% from last year.
Building an Innovation Network
The increase in disclosures and UConn-affiliated startups is the result of revised strategy and approach by Technology Commercialization Services (TCS).
"Our effort to engage faculty on a regular basis is paying off and is helping to build a trust-based relationship and behind every disclosure our brilliant researchers are pushing the boundaries of discovery. And together with the tech transfer office, those bold ideas are being transformed into real-world impact," says Abhijit Banerjee, Associate Vice President for Research, Innovation, and Entrepreneurship.
TCS is a wing of the Office of the Vice President for Research that facilitates tech transfer, intellectual property management and monetization, and other facets of innovation and entrepreneurship. Team members work with researchers and students to facilitate innovative ideas into license and new startups.
In FY2022, TCS implemented a five-year plan designed to further engage faculty, staff, and students throughout UConn. Instead of serving strictly as a resource center, TCS developed educational programs and increased outreach across schools and colleges.
While faculty in STEM - such as from the College of Engineering, College of Liberal Arts and Sciences, and UConn Health - reliably seek to patent ideas and inventions, TCS is actively engaging other schools and faculty members to explore creative ideas and inventions that can be copyrighted, as well as impactful social innovations.
Along with the increase in invention disclosures, TCS reached new benchmarks in intellectual property and commercialization. UConn experienced a jump in patent applications filed with 150 in FY2025 and secured 22 patents from the U.S. Patent and Trademark Office. Amit Kumar, TCS's Senior Director of Licensing, says that in-house patent attorneys worked closely with faculty and startups to align patent filings with real business opportunities.
Additionally, the TCS licensing team executed 27 option or licensing agreements, including 16 with startups, helping transition groundbreaking discoveries from the labs of UConn toward real-world impact and underscoring TCS strong support for entrepreneurship across the state of Connecticut. UConn now holds equity positions in 50% more companies, increasing from 24 to 36, which Kumar says is indicative of the University's innovation footprint and long-term economic impact.
Technology Incubation Program (TIP)
Concurrently with other growth, TIP had a remarkable FY2025. Founded as part of UConn's commitment to fostering innovation and entrepreneurship, TIP provides startups with lab and office space, business support services, and access to world-class research expertise.
TIP is the largest tech incubator in Connecticut, with physical locations in Storrs and Farmington. About half of the companies are founded by UConn faculty, staff, or students, while the other half are external startups with strong ties to alumni or faculty collaborators. There have been numerous achievements in the past, from research on the International Space Station to intercompany collaboration.
TIP proactively shifted to a value-based program that actively engages with all startups who are in the program to help them succeed. The incubator hit its high financial mark in FY2025. TIP-supported companies employed 286 people, including 193 in Connecticut - seven more than in 2024. The program's internship pipeline also continues to prepare UConn students for the workforce, exemplified by 10 interns transitioning into full-time roles this year and nearly 30 who have been hired in the past three years.
The year also marked important progress in investment maturity. Nearly 80% of companies in the portfolio secured more than $100,000 in funding, with nine surpassing the $1 million mark. Collectively, TIP companies generated an estimated $3.1 million in direct state tax impact. While that number dipped slightly from last year due to reinvestment in research and development, program leaders see it as a sign of startups preparing for long-term growth.
"These results show the resilience and maturity of our portfolio," says Ryan McMillian, director of Venture Development for TCS. "Our startups are raising more capital, generating more revenue, and creating high-quality jobs that directly benefit Connecticut's economy."
The program's portfolio now stands at 32 active companies, down reflecting a more focused approach that prioritizes stronger, better-capitalized startups that are included in the program.
Demand for space remains high, with the Storrs incubator at full capacity and Farmington about 85% occupied. There is a critical need for expansion of TIP in Storrs to accommodate new startups.
"This past year wasn't without challenges," McMillian said. "But through focus and determination, we've supported companies that are stronger than ever. We're excited to build on this momentum and continue driving innovation, entrepreneurship, and impact for UConn and the state."
Banerjee emphasized the collaboration with startup founders has yielded success for TIP, and by association, UConn's entrepreneurial footprint.
"This year's results highlight the unique strength of UConn's innovation ecosystem," Banerjee says. "TIP is where faculty, students, and entrepreneurs come together to turn bold ideas into thriving companies - and the impact we're seeing across jobs, funding, and research translation is a direct reflection of that collaborative spirit."
