The UVA Licensing & Ventures Group is the University of Virginia's intellectual property management and innovation commercialization organization for UVA’s research portfolio. Founded in 1977 as a 501(c)(3) UVA affiliated foundation, UVA LVG receives ~200 invention disclosures, executes ~80 commercial transactions, and launches 5-7 new companies each year. During the 2017 fiscal year, UVA LVG was awarded 82 patents in the US and abroad. Its mission is to maximize the impact of UVA innovation assets via commercialization while providing high levels of customer service, value-added business development, new venture creation, and a focus on driving quality transactions.