The University of Central Florida received a ranking of 22nd in the country for success in technology transfer, according to a report released by The Milken Institute.

The nonprofit think tank ranked UCF alongside Columbia University, MIT, and Carnegie Mellon University – the University of Florida (No. 3) and the University of South Florida (No. 19) join UCF as the only Florida institutions to make the list.

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Technology transfer is defined by The Milken Institute as the practice of developing academic research into new technologies, products, and companies. UCF’s Blackstone Launchpad leads startups and spinoffs, created by students, into successful businesses with the resources offered by the university.

Each ranking came from four indicators of technology transfer success: patents issued, licensing income, and start-ups formed. UCF ranked fifth out of 225 for patents granted with 90 issued for the 2016 fiscal year.

“Universities, with their talented faculty, staff, and students, have the power to produce research with impact,” said Elizabeth Klonoff, UCF’s vice president for research and dean of the College of Graduate Studies.

“This ranking illustrates that we are creating innovation that not only elevates the pursuit of knowledge but also solves real-world problems. We are proud to be able to deliver on a central part of our mission and will continue to seek opportunities to make a collective impact.”

According to UCF, a 2014 study of the economic impacts of UCF’s Business Incubation Program “found that the incubator was responsible for facilitating the creation of more than 3,700 jobs in the region. Also, client and graduate companies have generated more than $2.5 billion in total economic output since the program’s inception in 1999,” says UCF.