I believe University of Waterloo is one of the few that does full ownership of work by Prof (I could be wrong) .. and year after year, they beat the biggest Universities in Canada for being ranked as the #1 in entrepreneurship, tech commercialization and innovation. I think its the subsequent economic impact that counts, rather than sequestering innovation for the sake of a few bucks in 1/3, 1/3, 1/3 ownership model.

https://uwaterloo.ca/research/waterloo-commercialization-off...

Many of the big giants of tech world have set up offices all around uWaterloo and enjoy a symbiotic relationship w/ the research faculty.