The University of Colorado Boulder has claimed the No. 1 spot in the country for launching startups based on university discoveries, according to new data from the Association of University Technology Managers (AUTM). In fiscal year 2024, CU Boulder spun out 35 new companies from its intellectual property — more than any other U.S. university.
This record nearly doubles CU’s previous high of 20 and places it among only a handful of campuses to ever cross the 30-startup threshold in a single year, according to a recent post by Venture Partners at CU Boulder.
By the Numbers: CU Boulder's Surge of Startups
- 35 startups launched in FY 2024 from CU Boulder research — a national best
- 9x growth in a decade (4 startups in 2014 → 35 in 2024)
- 5.1 startups per $100M in research funding — more than double the national top-10 average
- Record-breaking: Only Stanford (38 in 2022) has ever launched more in a single year
- Sectors: biotech, cleantech, space tech, AI, and more
A Decade of Growth
CU Boulder’s startup activity has grown dramatically in the last decade. In 2014, CU averaged just four startups annually from research discoveries. By 2020, the figure had risen to 11. FY 2024’s total of 35 represents nearly a ninefold increase in 10 years.
AUTM’s data goes back to 1990, and only Stanford University has exceeded CU Boulder in the total number of startups launched in a single year, with 38 startups in 2022.
Efficiency Over Scale
Raw totals tell only part of the story. CU Boulder also led the nation in efficiency, measured as startups launched per $100 million in research funding.
In FY 2024, CU produced 5.1 startups per $100 million — more than double the national top-10 average of around two per $100M. That means CU is generating more startups per dollar of research funding than institutions with far larger budgets.
Bryn Rees, the associate vice chancellor for innovation and partnerships at CU Boulder, remarked, “Universities spinning out similar numbers of startups have significantly larger research budgets feeding their innovation pipeline.”
What Kinds of Startups?
CU Boulder’s recent spinouts span a range of sectors, from biotech and medical devices to cleantech, space technologies, and artificial intelligence applications. Programs like the Embark Deep Tech Startup Creator — which pairs researchers with entrepreneurs — are designed to ensure that more discoveries make it out of the lab and into the marketplace.
Why It Matters Economically
National studies show that university spinouts often attract investment sooner and survive longer than the average startup. For Colorado, 35 new companies in one year doesn’t just mark an academic milestone — it represents hundreds of jobs and new funding opportunities that ripple into the state economy.
A Broader Statewide Trend
While CU Boulder’s numbers lead the pack, they’re also part of a wider Colorado momentum story. Colorado State University, Colorado School of Mines, and other campuses are steadily building commercialization capacity of their own.
Taken together, the state’s universities are demonstrating that their research impact is no longer confined to academic journals — it’s increasingly measured in companies launched.
For funders and policymakers, CU Boulder’s trajectory sends a clear message: Colorado’s research institutions are now producing a pipeline of investable companies at a pace few regions can match. That’s a development worth watching well beyond the Front Range.
"Where We're Going, We Don't Need Roads"
As CU Boulder celebrates its record-breaking year, the Venture Partners team is focused on the future. In addition to expanding incubator spaces, enhancing funding opportunities, and growing its investor network, the group is also exploring new collaborations with other institutions and continually refining its Embark Deep Tech program.
In the big picture, Rees makes clear that this is more than just a numbers game: “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.”
