CU Boulder Achieves Record Year, Solidifying Position as a Startup Powerhouse
CU Boulder’s innovation engine roared to life in the 2023-24 fiscal year, with Venture Partners—the university’s commercialization arm—facilitating the launch of 35 new startup companies based on university innovations. This accomplishment not only shattered the previous record of 20 startups set in FY 2021 but also catapulted CU Boulder into the ranks of the most prolific single-campus institutions nationwide.
This significant leap showcases the impact of years of strategic investment in entrepreneurship, especially considering CU Boulder’s location outside traditional venture capital hubs. The university’s success highlights a unique ecosystem that fosters extraordinary results. Bryn Rees, Associate Vice Chancellor for Innovation and Partnerships, noted the key to CU Boulder’s success, saying, “This is actually where CU Boulder really shines, when we look at our efficiency: the number of startups we’re launching per dollar of funding.”
Among institutions with the highest output of startups, Columbia University tops that indicator with 3.5 startups launched in FY 2018 per $100 million in research funding. With 34 startups out of CU Boulder in FY 2024, that’s 4.7 startups per $100 million of funding. That is a top result among leading universities and a real credit to our approach.
A Journey to the Top
According to data collected and published by AUTM, in the period of FY1990-2023, Stanford launched 38 startups in 2022, and MIT launched 32 startups in 2020, which are the most startups launched in a year by a single-campus. Full university data from FY 2024 is expected from AUTM in late 2025.
Strategic Pillars of Success
The Venture Partners team has redefined how academic research translates into impactful businesses through experimentation and entrepreneurial thinking. Rees explained, “Our journey reflects years of careful planning, experimentation and a relentless commitment to supporting our startup founders. We’ve embraced Boulder’s collaborative ethos and created a model that aligns with our community’s values while delivering national impact.”
Venture Partners prioritizes the experience and development of its founders. Licensing with EASE® simplifies the startup process, reducing administrative friction so founders can focus on building their ventures. This philosophy extends to providing tailored mentorship and long-term support, creating an environment where new founders thrive.
From entrepreneurial training to funding, academic founders receive support tailored to their unique needs. For example, Venture Partners’ Center for Translational Research (CTR) helps bridge the “valley of death” between early-stage research and commercialization.
To ensure a seamless startup pipeline, Venture Partners integrates resources across the university and community, highlighted by the National Science Foundation I-CorpsTM Hub and the Lab Venture Challenge (LVC). These initiatives have provided grants to researchers across the university and the community while giving startup training.
Experimentation and Adaptation
Experimentation and learning from failure have been critical to Venture Partners’ success. Rees humorously noted, “Have you heard of the ‘i-Teams’ program? Of course not! It was a failure.” Rees also credits the success of Embark Deep Tech Startup Creator, which launched 10 of the 35 companies in 2024 by matching experienced entrepreneurs with cutting-edge CU Boulder innovations. The program provides insights for the New Venture Launch class at the CU Boulder Leeds School of Business.
Startups Accelerating Toward Impact
The 35 startups launched in FY 2024 represent a diverse array of industries. Mana Battery, founded on research from Chunmei Ban’s laboratory, won a 2023 LVC grant. Mana Battery is developing sodium-based batteries as a safer, more sustainable alternative to lithium-ion technology, addressing critical challenges in energy storage.
CU is a growing international leader in both quantum and healthcare research and technologies, both found in the new startup Flari Tech. The company is developing technology created by Jun Ye and Qizhong Liang to detect diseases via the breath, all built upon the Nobel Prize-winning frequency comb developed at CU Boulder and NIST. Another promising company is Mesa Quantum, which is ushering in the next generation of chip-scale atomic clocks and quantum sensors, powering the industries of tomorrow.
CU Boulder’s success is bolstered by ecosystem wins like the NSF Colorado-Wyoming Climate Resilience Engine and the Elevate Quantum Tech Hub designations. Rees stated that these programs bring together the resources and expertise needed to address global challenges.
Looking Ahead
Looking ahead, the team is focused on expanding incubator spaces, enhancing funding opportunities, and increasing diversity within the entrepreneurial mentor network. Rees emphasized, “Our goal is to create ventures with lasting impact. We measure success not only by the number of companies we create but by the societal and economic benefits they deliver.”
By prioritizing founders, embracing Colorado’s unique strengths, and continually evolving its approach, Venture Partners offers a model for other institutions seeking to foster innovation.
