2023 Power 50: Parth Chakrabarti
PHOTO | Matt Wright
Parth Chakrabarti, executive vice chancellor, UMass Chan Medical School
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Parth Chakrabarti is responsible for growing the size, financials, and reach of the UMass Chan research enterprise. He has re-structured the BRIDGE Innovation & Business Development team to use a venture approach in pursuit of the commercialization of the university’s intellectual property.
The UMass Chan research enterprise grows more dominant year after year, now surpassing even the flagship UMass Amherst campus’s productions and trailing only the most esteemed research universities in the state.
In fiscal year 2022 alone, the team Chakrabarti leads has brought in $45.6 million for the medical school through licensing revenue and services to for-profit partners. An additional $20 million came through new sponsored research by industry partners.
This work has enabled multiple spinout companies from UMass Chan, including Via Scientific this year, a cloud-based product of a UMass invention.
The team has developed an inverter-facing portal allowing for the checking of current patent status, appealing to stakeholders and external interests. An experienced patent-holding inventor himself, Chakrabarti has been co-author on peer-reviewed research and is dialed into the industry from multiple angles.
How should professionals best use the power they wield? “Focus your power on creating lasting, positive impact by being strategic, humble, inclusive, and open-minded to new ideas and approaches.”
Sunny days: Weather permitting, Chakrabarti loves riding his motorcycle.
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