Among universities worldwide, the University of California system averaged the highest level of licensing income annually from its research discoveries in biotechnology, according to a recent study of biotech knowledge transfer.

The Milken Institute study, “Mind to Market: A Global Analysis of University Biotechnology Transfer and Commercialization,” found that from 1997 to 2003, the UC system was the most successful university in licensing income from its discoveries and inventions, a total average of about $100 million per year, followed by Stanford University ($50 million) and MIT ($33 million).

Among U.S. and Canadian universities, UC is runner-up behind MIT in turning knowledge into commercially viable products and start-up companies. UC produces the second-highest number of start-up businesses, approximately 20 a year.