Universities play a vital and extensive role in driving innovation in the United States. They offer a vast research base (a total of $50 billion nationwide), the ability to teach and develop a fresh new workforce (3 million graduates each year), goodwill of successful alumni, the ability to convene disparate expertise, and a deep commitment to local communities.
From Center for American Progress:
“The United States is known for its innovativeness and entrepreneurial spirit. Between half and three-quarters, or even more, of all economic growth in the last half-century can be tied to technological innovation, depending on which study you use. Yet in the last few decades, measures increasingly demonstrate that the United States is falling perilously behind in innovation.
When we think of technological innovation, we think of inventors, entrepreneurs, and corporations joining novel ideas with financial capital and market opportunities. Efforts to increase innovation should help support circumstances for the private sector to bring new products and services to market. The spark of technological innovation, however, often begins well before the opportunity is obvious or attractive to private sector. As a result, the partnership between the U.S. government’s funding of research in the nation’s public and private universities plays a larger role than most observers recognize.
Universities play a vital and extensive role in driving innovation in the United States. They offer a vast research base (a total of $50 billion nationwide), the ability to teach and develop a fresh new workforce (3 million graduates each year), goodwill of successful alumni, the ability to convene disparate expertise, and a deep commitment to local communities. Universities have been important players to date, and we have an opportunity to further nurture these vibrant ecologies to sustainably generate greater innovation and economic growth…”
While the rest of the economy slowly fizzles, investors, foundations, regional economic development authorities, and other organizations have been setting up incubators, accelerators, and similar programs for startups at a blistering pace.
From Rade Roush of Xconomy:
“This week we published the third annual edition of the Xconomy Guide to Venture Incubators. It’s the only source we know of where U.S. entrepreneurs starting technology, life sciences, or energy companies can survey all of the early-stage mentoring and investment programs open to them in a single document.
“If you ask me, there is clearly an incubator bubble. Whatever your opinion about the existence of a bubble in the larger world of Internet startups—Sarah Lacy and Dan Primack offered interesting, opposing views on that this week—it’s hard to imagine that today’s tepid consumer and business markets have room to absorb all of the products and services offered by the hundreds of new startups that the incubators are now churning out each year…”
Study finds that the distinctive missions of federal laboratories, management strategies and resources, statutory requirements and incentives for researchers were key factors determining an agency’s particular approach to commercialization of federal laboratory results.
NIST Press Release:
A new report sponsored by the U.S. Commerce Department (DOC) – the results of the first independent study of its kind in almost 10 years-describes both barriers and effective strategies for the transfer of technology developed in federal laboratories to industry for commercialization.
Based on a literature review and interviews with technology transfer experts at 26 different federal research laboratories as well as 33 additional organizations, the study was released on June 14, 2011, at a meeting of the department’s National Advisory Committee on Innovation and Entrepreneurship, held at Howard University.
Agencies interviewed as part of the study also suggested a range of strategies for increasing the speed and extent of dissemination of federal technologies. Strategies included streamlining licensing; increasing cash, royalties, awards or other incentives that reward researchers for excellent technology transfer efforts; and raising the visibility of available technologies through showcase events, intellectual property databases, and networking at conferences and workshops.
The pharmaceutical industry is seeking stronger ties with academia in a bid to speed up drug development
“When pharmaceutical company Pfizer announced on 8 June that it is teaming up with eight research institutions in the Boston area to hunt for candidate drugs, the news was cheered from all sides. The governor of Massachusetts, Deval Patrick, praised the US$100-million, five-year deal for the jobs it would bring to the region. Eric Buehrens, interim chief executive of Beth Israel Deaconess Medical Center, one of the academic partners, extolled the benefits to scientific research. Pfizer says that the partnerships will accelerate development of the next generation of drugs…”
This study is the first of its kind for the Purdue Research Foundation. From the creation of 4,000 new jobs to the nearly $50 million in federal and developmental grants for small business, the results provide an important milestone of how Purdue is giving back to the state.
NDIANAPOLIS; WEST LAFAYETTE, Ind.; MERRILLVILLE, Ind.; and NEW ALBANY, Ind. – An independent study reports that the Purdue Research Park network provides an annual economic impact of $1.3 billion to Indiana’s economy, officials announced Tuesday (June 14).
The report states that the Purdue Research Park network is one of the largest private employers in the state, has invested more than $584 million in infrastructure, provides $48 million in annual tax revenue for the state and employees in a park-based company earn an average annual wage of $63,000.
“The Purdue Research Park network provides a valuable foundation for startups and expanding companies where new discoveries are commercialized into viable products that help our state through job creation, and that help address global challenges,” Indiana state Rep. Randy Truit said. “For example, the wound healing technology from Cook Biotech has been used on more than a million people around the world, and the new drug targeting and imaging diagnostics being developed by Endocyte show great promise in changing the way we treat cancer.”
Key Findings include:
- $1.3 billion annual impact for State of Indiana.
- $256 million investment in the Park facilities and infrastructure from 1999 to 2010.
- $48 million contributed to State and local taxes.
- $49 million in Federal research and development grants for small businesses brought to the State since 1987.
- Park-based companies contributed nearly $22 million in sponsored research to Purdue University.
- Combined, the Park network is a top 20 private employer in the State of Indiana.
- More than 4,000 high-tech, high-quality jobs paying an average annual salary of $63,000 – 65 percent higher than the Indiana average.
- About 10,000 total jobs generated in respective Park network communities.
Top University Presidents and National Laboratory Directors Highlight Critical Role of Manufacturing in Boosting Innovation
WASHINGTON, June 13, 2011 /PRNewswire-USNewswire/ — Leaders from nearly three dozen top universities and national laboratories say that America must make radical changes in its manufacturing policy to maintain its innovation leadership, in a report released today by the Council on Competitiveness. Ignite 2.0: Voices of American University Presidents and National Lab Directors on Manufacturing Competitiveness calls for a stronger partnership between research and manufacturing – especially manufacturing at scale, improved vocational and STEM education and a commitment to supporting higher education and science.
The report’s findings were unveiled by the Council’s leadership at the Detroit Economic Club, and reflect the views of America’s premier research university presidents, including Rensselaer Polytechnic Institute’s Dr. Shirley Ann Jackson and Massachusetts Institute of Technology’s Dr. Susan Hockfield. Directors of five national laboratories were also surveyed for the report.
Just published: the first Startup Genome Report with in-depth analysis on what makes internet startups successful based on data from over 650 startups. Here is a small window into the report with 14 indicators of success.