Our community and our world benefit when discoveries and inventions made at Princeton are developed into new products and technologies. Princeton's teaching and research mission is enhanced when our talented students and professors know that their research may make a real-world difference. The Office of Technology Licensing serves the University's teaching and research mission by facilitating the transfer of technology to society, for the benefit of all. In FY2018, OTL oversaw the issuance of 32 patents and the licensing of 58 technologies. Innovations developed at Princeton include those in biotechnology and pharmaceuticals, ceramics and materials science, chemistry, computers and software, medical devices and diagnostics, and optoelectronics and electrical engineering. The University also supports the development of promising new technologies through its Intellectual Property Accelerator Fund, which awards funding of up to $100,000 to advance early-stage research to a point where it is attractive to commercial development.