higher ed

A new statewide network will coordinate the regional economic development activities of Indiana University, according to an announcement released by the university this week. The Innovate Indiana Network will complement the work done by the Innovate Indiana initiative and the university's Council for Regional Engagement and Economic Development (CREED). The network will include representatives from 16 schools, offices and centers across the state that offer services that could potentially benefit regional economies. By connecting these offices through the network, the university hopes to address a wider variety of economic concerns in the state and marshal resources from underutilized university offices. Read the announcement...

A recent report from the U.S. Department of Commerce highlights university programs across the country working to facilitate student and faculty entrepreneurship as part of a larger federal effort to improve tech transfer activities and external partnerships. Information was collected from the leaders of 131 research universities to understand what universities are doing programmatically and strategically to nurture innovation, commercialization and entrepreneurship. Examples range from universities experimenting with on-campus accelerators, entrepreneurial dorms and student venture funds to tech transfer offices that focus on identifying and supporting entrepreneurship on campus. Universities also are increasingly partnering with companies to offer internships and shared facilities. Read the report...

A measure to increase the sales tax in Jackson County, MO, to fund medical research across Kansas City and St. Louis was rejected by greater than a 5-to-1 ratio, reports the Kansas City Star. Unofficial returns found that 84 percent of voters rejected the proposal that would raise up to $40 million annually through a sales tax increase of one-half of 1 percent to support an institute of hospitals, universities and research institutes working to recruit scientists and turn research into commercial products and treatments. Voters in Maine approved $15.5 million in bonds to renovate and upgrade labs and other STEM facilities at all seven campuses within the University of Maine System and $4.5 million toward a public-private effort to build a science facility at Maine Maritime Academy.

Hoping to draw attention to declining federal funding for basic research, a nonprofit group of public and private research universities unveiled a report highlighting the success of 100 companies that trace their roots to a federally funded research university. Of the companies highlighted, 89 remain in business today, which is far better than the U.S. average new business survival rate of 50 percent after five years, the report notes. Moreover, 16 of the 20 youngest companies (less than five years old) also remain in business. Several distinctions are drawn for university research startups, including companies bringing forth transformational innovations with social significance and a nurturing ecosystem with companies benefiting from university expertise and a creative environment. As a follow up to a 2010 report, Sparking Economic Growth 2.0 also estimates the level of federal funding behind each of the companies highlighted. Read the report...

Because universities are increasingly seen as hubs for regional economic development, many institutions are reorganizing their business engagement efforts to eliminate the barriers between universities and the innovation community. Recently, the University of New Hampshire, the University of Michigan Medical School and the University of Texas at Arlington all announced plans to streamline and redesign their innovation services, aiming to increase their contribution to regional job and business creation. In each case, these institutions are hoping to create stronger connections with the private sector by creating a single office to engage with entrepreneurs, businesses and investors.

In tech-based economic development circles, universities are frequently thought of as engines for regional economic growth, engines whose effectiveness is determined by the volume of research conducted and the ability of faculty and staff to turn discoveries into commercially available goods and services. The authors of two recent academic articles suggest that regional economies are also a key determinant of university success. Steven Casper’s research suggests that social linkages between research faculty and local tech professionals improve university commercialization, while Friedrich Dornbusch and Thomas Brenner find that alignment between local tech industries and university research priorities increases the prevalence of successful university-private partnerships.

In acknowledgment of their work with private sector partners in their states and regions to support economic development, 16 public institutions were the first to be designated “Innovation and Economic Prosperity Universities” by the Association of Public and Land-grant Universities (APLU). Applicants for the designation conducted a self-study and solicited input from external stakeholders. Each applicant identified three areas of strength in economic engagement and developed case studies to reflect them. APLU said in a press release the awards enable universities to shine a spotlight on the work they are doing and to demonstrate more clearly with government and the private sector the public benefit of their work. Read more about the winners at: http://www.aplu.org/page.aspx?pid=2805.

A network of more than 1,500 expert advisors is among the distinctive features that makes the Innovation Center of the Rockies' (ICR) low-cost, effective model for commercializing research appealing to universities across the country. This week, ICR announced they have entered into an agreement with the University of Wyoming to bring more faculty inventions to market based on their successful model. ICR works closely with tech transfer offices in Colorado, and now in Wyoming, to understand and develop viable pathways for university-based inventions. The volunteer advisors are matched with university research projects to help identify and solve customer problems. Read the news release.

Georgia Tech has launched a crowdfunding resource for university-based students and faculty. Originally announced in the spring, Georgia Tech joins several other universities that are using crowdfunding to finance commercialization and the development of startups based on university research. The field has become common and relevant enough that an online community has started tracking this growth.

The Stanford Technology Ventures Program has launched a new program for Ph.D. students that provides training in entrepreneurship and innovation. But unlike other entrepreneurship programs the Accel Innovation Scholars Program takes a holistic approach, training students to prepare for roles that support regional innovation ecosystems.