LOUISVILLE, Ky. (WDRB) -- A new office at the University of Louisville will help launch and grow startup companies.

The goal is to start innovative new companies that can bring economic development and research-backed technologies to our area.

UofL New Ventures, within the Office of Research and Innovation, is helping with the effort. In Fiscal Year 2020, UofL was awarded 48 new patents and earned $9.4 million from license royalties and other income.

That was its best year on record and a 30% increase over 2019. The increased income came from a strong year of deals and startups, with seven new companies launched.

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