In 1994, the University of Massachusetts Medical School had no effective technology transfer function. This was problematic for a medical school that was rapidly becoming one of the leading research institutions in the United States. The University decided to hire a new director to build up the function and the Ulysses Group was retained to help with this process. At the time the Ulysses Group came onto the scene, UMass had one royalty-generating license, which covered a series of instructional tapes made by a faculty member.
Over the course of the next twelve months, Ulysses and the new director built an inventory of the institution’s technologies. A methodology was put into place covering invention disclosures. A committee of researchers was created to review disclosures and to determine how best to exploit them, including oversight of the process for obtaining intellectual property. An inventory control system was implemented and inventors were engaged in the process of soliciting venture capital, seeking third party partners or pursuing NIH funding, depending upon the perceived value, marketability and maturity of the science. Valuation models were applied to each promising technology and several were out-licensed, some with Ulysses' direct involvement. At the end of the first year of Ulysses involvement, we had been directly responsible for executing what was then one of the ten largest third party licensing transactions ever completed by an academic institution.
As of 2010, the University of Massachusetts ranked number 8 in the nation in the nation in technology transfer by revenues.