FedEx Institute of Technology
FedEx Institute of Technology
Partnership Update
Each year, the FedEx Institute of Technology (FIT) provides a funding update on the impact of FedEx's support to the FIT and other areas where FedEx is investing at the University. The funding received from FedEx supports FIT efforts to help research fellows access additional grant funding, build on research efforts for the UofM to achieve Carnegie R1 status, and (most recently) the launch of 5 new tech start-ups in Memphis. In addition to research cluster grants, OTT has awarded 32 technology development grants over the last five years and has doubled the number of patents in the same time frame, receiving more U.S. patents issued to the UofM than in the previous 20 years.
Between July 1, 2018 and May 15, 2021 (Fiscal Years 19-21), 44% of the 97 researchers affiliated with the FedEx Institute of Technology were awarded a total of $22.9M. This amount has risen, year-over-year, each fiscal year: FY19 $5,706,100.96 → FY20 $7,095.799.93 → FY21 $10,132,760.50.
Over this past year, Nov. 2020 - Nov. 2021, FedEx’s dollars have supported a 14x return on investment on research. As a result, FedEx’s investment is creating a broad impact on a local, national and international level.