Record OSU grants lead to new startup companies

Record OSU grants lead to new startup companies

CORVALLIS, Ore. - Oregon State University is celebrating a record year for research grants and funding. Grants for OSU last year topped $250 million.The grants are an all-time record for the Corvallis campus.

Faculty and students decked out in orange shirts celebrated the record on Monday morning. Officials said the money means much more than lab work.

"It also creates real spin-offs. It creates economic opportunity. We set a new record last year for licensing income," said Sherman Bloomer,College of Science dean, Oregon State University. "We had four new startup companies come out of OSU work just last year."

Bloomer said chances are good for another grant record this year.

$12 million in federal economic stimulus money has been sent to OSU since July.