As per a study released by Institute, University of Toledo (UT) has been rated among world’s top nonprofit organizations for transforming research dollars into biotechnology companies. For every $14 million that University of Toledo had spent on research in 2004, it created a new biotechnology start up which has given it the seventh spot among academic centers in Asia, Europe and North America. The first spot was garnered by Satakunta Polytechnic which established one new company for every $400,000. The second spot was occupied by Brigham Young University in Utah. Though UT achieved improvement in its access to research dollars and commercialization of patents since the year 200, the university has stated that its research expenditures were not that much to emerge as the central incubator of technology in metropolitan Toledo.