Growth and Impact Highlight FY ’23 Research Numbers
In a year filled with challenges, Virginia Tech has managed to achieve remarkable growth and impact in its research endeavors. According to fiscal year 2023 data estimates, the university’s research awards and expenditures have both seen double-digit increases for the second consecutive year. This growth reflects the university’s dedication to pushing the boundaries of knowledge and making a positive impact on global priorities and the human condition. Let’s delve into the details and explore what these numbers mean for Virginia Tech and its research community.
Virginia Tech’s Impressive Research Growth
Virginia Tech has experienced significant growth in both research awards and expenditures over the past year. Federal, state, local, and private research awards combined have increased by an impressive 17 percent, while research expenditures have risen by 12 percent. These numbers demonstrate the confidence that external sponsors have in the university’s research work and its potential to deliver meaningful results.
Over a two-year period, research awards have seen a staggering 31 percent increase, and expenditures have also grown by an impressive 28 percent. This continuous growth showcases the strength and impact of the research being conducted at Virginia Tech.
Research Institutes Leading the Way
Three research institutes at Virginia Tech have played a significant role in driving the university’s research growth. The Fralin Biomedical Research Institute at VTC, the Virginia Tech National Security Institute, and the Virginia Tech Transportation Institute have witnessed a combined growth of 22.7 percent in their externally sponsored research expenditures. These institutes collectively account for over a quarter of the university’s research expenditures, with the Virginia Tech Transportation Institute alone contributing 11 percent.
The Fralin Biomedical Research Institute and the Virginia Tech National Security Institute have led the way with impressive growth rates of 35 percent and 31 percent, respectively. Additionally, the researchers at the Virginia Tech Transportation Institute have won the university’s three largest individual awards, totaling $23.6 million. These awards focus on studying the impact of smart, automated systems on road transportation and driver safety, further cementing Virginia Tech’s expertise in this important area of research.
Research Boosts University Rankings
Virginia Tech’s commitment to research excellence has not only resulted in increased funding and impact but has also elevated the university’s position in global rankings. The Quacquarelli Symonds (QA) World University Rankings for 2024 placed Virginia Tech at No. 302 globally out of 1,497 institutions ranked. This remarkable achievement places the university among the top 21 percent of world institutions. Comparatively, the university ranked No. 363 overall in the previous year’s rankings.
One of the key factors contributing to Virginia Tech’s improved ranking was its impressive performance in the international research network. This indicator assesses the diversity of the university’s international research partnerships and their role in addressing global challenges. Virginia Tech ranked No. 197 in this category, positioning it as an institution actively engaged in solving critical global issues. Among the 199 United States institutions evaluated, Virginia Tech secured an impressive rank of No. 35.
– The philanthropic investment from corporations and foundations exceeded $80 million in fiscal year 2023, demonstrating their confidence in Virginia Tech’s research endeavors.
– Revenue from licenses and new inventions increased by 20 percent over fiscal year 2022, showcasing the university’s success in translating research outcomes into tangible outcomes.
– The Presidential Postdoctoral Fellowship program continues to grow, with seven fellows joining the Research Frontiers Track and three in the Cybersecurity program during fiscal year 2023.
Virginia Tech’s research growth and impact in fiscal year 2023 indicate the university’s dedication to pushing boundaries and making a positive difference. The substantial increases in research awards and expenditures highlight the confidence that external sponsors have in the university’s research work. Additionally, the growth of key research institutes and improved global rankings further solidify Virginia Tech’s position as a leading institution in research and innovation.
Amidst the challenges faced in the past year, Virginia Tech has emerged as a powerhouse of research and innovation. The university’s double-digit growth in research awards and expenditures showcases its commitment to excellence and its ability to tackle global challenges. With research-intensive institutes leading the way and improved rankings, Virginia Tech is well on its way to becoming a globally recognized institution that drives meaningful change.