State University of New York System "Packs a Double Punch" to Support State's Innovation Economy

In the 2008-2009 academic year, nearly 66 percent of all degrees awarded by the State University of New York system were in fields related to the 16 clusters identified as key to the state's future growth, according to a new study — How SUNY Matters: Economic Impacts of the State University of New York. The 64-campus SUNY system is comprised of research universities, university colleges, community colleges and specialized institutions from across the New York state. The report authored by researchers at the Nelson A. Rockefeller Institute of Government and the University at Buffalo's Regional Institute found that the system has not only had a significant impact on state's current economy, but will provide an even more important contribution to its future innovation economy.

Kathryn A. Foster, director of the University at Buffalo's Regional Institute, said the report shows that "SUNY packs a double punch: it's producing the kind of new ideas we need to create high-paying jobs in New York State -- and it's helping produce a workforce prepared to take those jobs."

Beyond its primary mission of education, the SUNY system has rapidly increased its research capabilities that resulted in its ability to develop new technologies and to transfer their research findings into commercial use. According to the report, it attracted almost $1.3 billion in research funding during the 2008-2009. In an average year, the system generates approximately 350 invention disclosures with potential commercial impact, 70 patents, 20 spin-offs of companies, 25 startups of new companies and 60 licenses that yield revenue (approximately $23 million per year) for the commercial use of university discoveries.

According to the report, the system also provides a diverse portfolio of services to state and local business that includes business development assistance and workforce development programs. Nearly all the universities have at least one incubator or similar facility to house start-ups and other businesses. All SUNY community colleges have entered into university-private partnerships with regional employers to develop course offerings tailored to the employer's specific needs. A majority of 64 campuses work closely with the state's 16 clusters for the growth of those clusters through shared R&D, joint marketing and workforce training and pairing.

Although the report touts the SUNY system's accomplishments, the system needs to "find, nurture, develop and unleash the next dozen or two dozen or 200 faculty entrepreneurs." According to the study, entrepreneurial activities are not only emerging from the "translational disciplines," e.g., engineering and medicine, but some of the system's most successful activites have came from the basic sciences department (e.g., chemistry and biology). The authors contend that the system must develop a strategic plan to promote entrepreneurship and strengthen commercialization across the entire system in all disciplines. Read the report...