University Business - March 2009 - (Page 22)

viewpoint October 2007 article “Small Schools’ Big Tech Dreams.” Iowa State University ranked second in the nation in the number of licenses for inventions executed; the University of Akron’s Research Foundation funds start-ups as wholly owned, for-profit subsidiaries; and The University of North Carolina at Charlotte launches two to five start-ups annually, ranking number two for patent applications, relative to its budget. Because of their strong connection to local economies, regional IHEs are capable of providing licenses or seed funding and office space, with all parties aiming to contribute to the economic development of the state and region. Universities benefit from technology transfer and commercialization activities by attracting and retaining top academicians as well as gaining from license income. Communities and states that provide the entrepreneurial infrastructure in which university technology transfer and commercialization can flourish benefit from the resulting start-ups and business expansions, including radically new technologies for growth sectors. Also, the possibilities for stimulating economic growth can potentially be even more far-reaching if universities form alliances. SolUtIoN The April 2008 Small Business Association of Michigan report on commercialization and entrepreneurship programs at Michigan higher ed institutions identifies five categories of commercialization and entrepreneurship initiatives for promoting economic development: (1) technology transfer, (2) incubators, (3) university-industry commercialization programs, (4) entrepreneurship education, and (5) economic development and outreach. Central Michigan, the fourth-largest public university in the state, has positioned itself in many of these areas. As the major university for a large segment of Michigan, CMU has a unique opportunity to provide a mechanism for economic development in a broad geographical area. CMU’s Office of Research and Sponsored 22 | March 2009 Programs created an office to encourage technology transfer and commercialization of faculty, staff, and student projects, as well as to develop connections with local entrepreneurs and companies. To build on the alliances of local industry and position itself as a center for the incubation of economic development, the CMU Research Corporation provides a single point of contact for entrepreneurs and businesses who see the potential of harnessing the university’s intellectual, material, and technological resources. When universities team together, the possibilities for economic impact are profound. In an effort to provide entrepreneurship education, CMU offers an entrepreneurship major as well as hosts the LaBelle Entrepreneurial Center, a focal point for new business development and educational activities. To further support this mission, CMU actively encourages scholarly endeavors among its faculty, staff, and students (the school was named a top 20 U.S. research institution and ranked as the 10th most productive research university in the nation among comparably sized universities). Though the economic impact of schools such as CMU has been substantial, when universities team together the possibilities for impact are even more profound. To capitalize on the strengths of multiple smaller universities, CMU has joined forces with Eastern Michigan University, Michigan technological Institute, oakland University, Ferris State University, and lake Superior State University to create the Multi-University Technological and Expertise Assets Management for Enterprise Development (U-TEAMED). The effort expands the utilization of research and intellectual property assets at IHEs and public and private research organizations by the private sector and increases technological collaborations. The primary goal: advance the research and commercialization goals of each participating institution through leveraging the synergistic effect of technical collaboration and through actively promoting each institution’s research and intellectual property assets. Combined, this team has outperformed the largest universities on invention disclosures, licenses, and startup companies formed. Just as larger urban universities have joined to create incubation centers or entrepreneurial zones to encourage collaboration between university and community in strengthening and growing area economic development, regional state IHEs can use the same strategy to have a large impact in a small community or over a large geographic region. MovINg ForwArd Social, economic, and technological growth have set the stage for regional state IHEs to take an increasingly larger role in new business incubation. Individual universities and their specific areas of expertise feed a collaborative network for discoveries and new business development. Connecting universities and communities is a key to initiating and spreading economic development throughout the country. It is simply good business practice to garner and leverage the broad reach of regional state colleges and universities to catalyze and incubate discoveries and entrepreneurial efforts that will lead to new, high-impact ventures. universitybusiness.com Resources Central Michigan University’s LaBelle Entrepreneurial Center, www.cba.cmich.edu/lec Central Michigan University Research Corporation, www.cmurc.com Small Business Association of Michigan report, www.sbam.org/content.php?id=976 University Research Corridor, www.urcmich.org U-TEAMED, www.michiganlink.org/uteamed.php http://www.cba.cmich.edu/lec http://www.cmurc.com http://www.sbam.org/content.php?id=976 http://www.urcmich.org http://www.michiganlink.org/uteamed.php http://www.universitybusiness.com

Table of Contents for the Digital Edition of University Business - March 2009

University Business - March 2009
Contents
Editor's Note
Company Index
Advisory Board
College Index
Behind the News
Human Resources
Viewpoint
Money Matters
Special Report: Higher Ed and the Economy
Helping the Help Desk
Acts of Adaptation
10 Questions & Answers About the Cloud
What's New
End Note

University Business - March 2009