What has your alma mater been up to? Well, if you went to Iowa State University, your alma mater would be up to its armpits in patent royalties. According to Des Moines register business editor David Elbert, Iowa State University receives millions of dollars in royalties every year from its 355 active patents.
The Iowa State University Research Foundation (ISURF) is the entity which controls Iowa State University patents. Every year ISURF applies for about fifty patents and receives between $2-10 million in patent royalties. Expenses come off the top, with the remainder of the royalty profits being divided equally between the inventor, the inventor’s Iowa State University Department and ISURF.