Lift - 2012 Annual Report on Philanthropy - (Page 10)

Rod Casto, left, and Rick Larsen (‘78, ‘79, DB) lead the university’s efforts to become a solutions provider for industry. To move the university toward becoming an even greater corporate partner, Larsen and Casto are working with deans, faculty and administrators to create fast-track systems for joint patent applications and commercialization of intellectual property. “Industry is looking for deliverables, not a research project, per se,” Casto says. “We’re developing a culture that can respond to their needs in a business-like fashion.” ReseaRch PaRk Toward an entrepreneurial university By sARA w i th Row tanding at the intersection of education, research and industry, Embry-Riddle is poised to become a critical partner and solutions provider for aviation/aerospace businesses. Enter Rod Casto, associate vice president for research and innovation, and Rick Larsen (’78, ’79, DB), associate vice president of marketing, corporate and alumni relations. Together, they are looking for real-world problems that Embry-Riddle’s faculty and students can help solve; and developing an entrepreneurial university environment that will benefit businesses and the aviation/ aerospace industry as a whole. “We want to be seen as a ‘go-to’ resource for the aviation and aerospace industry,” Larsen says. “Our focus is on building mutually beneficial partnerships—partnerships that industry sees as critical.” A dual Embry-Riddle alumnus with 30 years of experience working in the aviation industry, the last eight years as vice president of marketing and communications for the Experimental Aircraft Association, Larsen is ideally situated to build upon existing and create new relationships for the university. Expanding corporate partnerships to include more collaborative research and development enterprises is a logical next step for the university, he says. “Embry-Riddle faculty, staff, students and programs are already immersed in and largely dependent upon the success of the aviation and aerospace sectors. This makes us uniquely relevant to industry and vice versa.” The university enjoys a number of business alliances. These include among others, managing the Federal Aviation Administration’s Florida NextGen Test Bed and related industry consortium; and a unique arrangement with Gulfstream Aerospace Corporation, through which the university provides tailored curriculum and instruction, professional development, collaborative research, and talent—in the form of graduates prepared to hit the ground running. For information, contact Rod.Casto@; or 10 p h i l a nth r o py r e p o rt g i v i n gto.E R A U.E d U Tony Giese Photography Casto, who holds a Bachelor of Science in chemistry/zoology and a Ph.D. in physiology from the University of Florida, is charged with among other tasks helping develop Embry-Riddle’s Aerospace Research and Technology Park at the Daytona Beach Campus. As head of the University of South Florida’s research park from 2003 to 2011, he transformed 115 acres into a thriving operation, doubling intellectual property licenses and revenues at the school in the first four years. Casto says he hopes to provide this same impetus of success for Embry-Riddle. With $8.97 million in state funding dedicated to assist with infrastructure, the 90-acre-plus research and technology park at Embry-Riddle is well on its way to becoming a reality. In addition to offering office and laboratory space for long-term exclusive business relationships, the park will likely include a fee-for-service center that will assist corporations with short-term needs as well. “It will be a true collaboration, where the university is invested in the success of its partners,” Casto says. “Our researchers will be working at the same bench, elbow to elbow with industry.” Larsen and Casto encourage aviation/aerospace businesses to contact them to discuss how Embry-Riddle can be a catalyst for their growth. “At the end of the day we serve industry,” Casto says. “We want to serve them better moving forward and in ways that we haven’t in the past.”

Table of Contents for the Digital Edition of Lift - 2012 Annual Report on Philanthropy

Lift - 2012 Annual Report on Philanthropy
Letter From the President
Letter From the Associate Vice President
Fiscal Year 2012 Financial Report
Throttling up
Lifetime and Legacy Donors
Toward an entrepreneurial university
Corporations and foundations
Student projects take off with Rockwell Collins
Daytona Beach alumni
Part of the Embry-Riddle fabric
Embry-Riddle’s first cadet gives back
Students help create a culture of philanthropy
Prescott alumni
Worldwide alumni
Military support
Board members, faculty and staff
Perpetuating dreams
Scholarship Donors
In Memoriam Donors
Endowed Funds

Lift - 2012 Annual Report on Philanthropy