Northwestern was elected to the Association of American Universities in 1917 and remains a research university with "very high" research activity. Northwestern's schools of management, engineering, and communication are among the most academically productive in the nation. Northwestern received $550 million in research funding in 2014. Northwestern supports nearly 1,500 research laboratories across two campuses, predominately in the medical and biological sciences. Through the Innovation and New Ventures Office (INVO), Northwestern researchers disclosed 247 inventions, filed 270 patents applications, received 81 foreign and US patents, started 12 companies, and generated $79.8 million in licensing revenue in 2013. The bulk of revenue has come from a patent on pregabalin, a synthesized organic molecule discovered by chemistry professor Richard Silverman, which ultimately was marketed as Lyrica, a drug sold by Pfizer, to combat epilepsy, neuropathic pain, and fibromyalgia. INVO has been involved in creating a number of centers, including the Center for Developmental Therapeutics (CDT) and the Center for Device Development (CD2). It has also helped form over 50 Northwestern startup companies based on Northwestern technologies.

When was Northwestern elected to the Association of American Universities?