Virginia Tech Intellectual Properties, Inc. (VTIP) was formed in 1985 to identify, legally protect, and market intellectual properties resulting from research at Virginia Tech and to provide service to the University in matters dealing with Intellectual Property. VTIP was also charged with being financially self-sufficient after sharing royalties with the inventors according to the University's Intellectual Property Policy.

VTIP supports the mission of the University specifically:

Virginia Tech Strategic Directions

3.1 We will enhance the university's status as a major research university and center for graduate education, maintaining our position among the top 50 in terms of sponsored research expenditures (top 10 of those without medical schools) and among the top 10 in industrially supported research.

3.2 We will position the university as the leading provider of outreach services in the Commonwealth by reconceptualizing and restructuring the service component of our land-grant mission.

3.3 We will enhance the university's status as one of the leading innovators nationally in the application of advanced communications and information technologies to instruction, research, outreach, and administrative support.

VTIP Mission Statement

VTIP supports Virginia Tech by maximizing return to the University through effective management of intellectual property.

Goals

• Protect and license the University Intellectual Properties.
• Generate income by licensing and other activities resulting from University intellectual property. Enable sponsored research funding.
• Facilitate the creation of new or start-up businesses and jobs based on University intellectual property.
• Disseminate university expertise embodied in intellectual properties to society.

Vision

VTIP will be recognized as an integral contributor to Virginia Tech's quest to become a top 30 research university.