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. OTL serves the University's teaching and research mission by facilitating the transfer of technology to society, for the benefit of all. Over the past decade, licensing proceeds have increased dramatically, due in large part to the success of the life-saving anticancer drug ALIMTA®. OTL oversaw the issuance of 41 patents and the licensing of 45 technologies in FY2017. 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.