Arizona State University has developed a new model for the American Research University, creating an institution that is committed to excellence, access and impact. ASU measures itself by those it includes, not by those it excludes. ASU pursues research that contributes to the public good, and ASU assumes major responsibility for the economic, social and cultural vitality of the communities that surround it.
Research and Institutes
ASU is classified among Doctoral Universities – Very High Research Activity. The university spent $618 million in fiscal year 2018, ranking it 41st nationally.ASU is a NASA designated national space-grant institute and a member of the Universities Research Association. The university is currently in the top 10 for NASA-funded research expenditures.
The university has raised more than $700 million in external funding, and 126 companies based on ASU innovations have been launched through the university's exclusive intellectual property management company, Skysong Innovations. ASU ranks #2 in the nation for proprietary start-ups "created for every $10 million in research expenditures." ASU is in the top 10 of all universities worldwide for U.S. patents awarded in 2018, tied with the University of Michigan. ASU jumped to 10th place from 17th in 2017, according to the U.S. National Academy of Inventors and the Intellectual Property Owners Association. Since its inception, Skysong Innovations has fostered the launch of more than 120 companies based on ASU innovations, and attracted more than $700 million in venture funding, including $96 million in fiscal year 2016 alone. According to the Sweden-based University Business Incubator (UBI) Index for 2013, ASU is one of the top universities in the world for business incubation, ranking 17th. UBI reviewed 550 universities and associated business incubators from around the world using an assessment framework that takes more than 50 performance indicators into consideration. As an example, one of ASU's spin-offs (Heliae Development, LLC) raised more than $28 million in venture capital in 2013 alone. In June 2016, ASU received the Entrepreneurial University Award from the Deshpande Foundation, a philanthropic organization that supports social entrepreneurship and innovation.