New Study Present ASU’s "Year Two" Results of Public Investments in Science and Technology

RESEARCH FOR ARIZONA’S KNOWLEDGE ECONOMY

Cutting-edge research activities in biodesign, nanotechnology, information science, and high tech manufacturing benefitted Arizona’s knowledge economy in 2003 by attracting new federal and private funding and by producing highly skilled workers, new products, and spinoff companies, according to a recently released study by Morrison Institute for Public Policy, a unit of Arizona State University.

Morrison Institute’s 11-page report, entitled New Returns on Investment in the Knowledge Economy: Proposition 301 at Arizona State University, FY 2003 analyzes results from ASU’s second year of science and technology research under voter-approved Proposition 301 funding. The report updates portions of the Institute’s earlier groundbreaking study, Seeds of Prosperity: Public Investment in Science and Technology.

"New Returns 2003 crosswalks results from ASU’s Proposition 301-funded research with five types of activity relevant to the new economy," said Rick Heffernon, author of the report and senior research analyst with Morrison Institute. "These five categories are new money, new programs, new ventures, new skills, and new talent. Accomplishments in those areas," said Heffernon, "should help Arizona become more attractive to existing science and technology leaders, and provide a more nurturing environment for new startup companies so they have a chance to become competitive more quickly."

Among ASU’s reported Proposition 301 accomplishments in FY 2003:

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$9.1 million in new external funding attracted by research projects

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13 new research collaborations formed with industry partners and national laboratories

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17 new patents approved, 3 new products in the marketplace, and 3 new companies spun off

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33 newly-degreed graduate students and 19 post-docs entered the workforce

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An internationally recognized research leader recruited to direct the Arizona Biodesign Institute

Also related to Proposition 301-funded research was ASU’s launch of Arizona Technology Enterprises (AzTE) in 2003, an entrepreneurial, business-friendly tech transfer

strategy intended to speed commercialization of new inventions. With AzTE in place, ASU’s current and future research activities could produce more impact on the state’s economy in a shorter time frame.

"Morrison Institute’s presentation of Proposition 301 results makes it easy to see how ASU’s science and technology research may influence our future economy," said Cathy McKee, senior vice president and director of strategic business services with General Dynamics and chair of Morrison Institute’s Board. "New Returns will help state leaders track progress on the state’s recent investments in university-based research."

New Returns 2003 is part of Morrison Institute’s continuing effort to keep Arizona informed of the status of Proposition 301 investments at ASU. In conjunction with this effort, the Institute is developing a new research assessment tool called the CAT measures, which analyzes the effects of new connections, attention, and talent generated by science and technology research activities. The CAT measures will inform policy decisions on public investments by providing ongoing feedback to decision-makers on the impacts of research activities.

Morrison Institute for Public Policy is an Arizona State University resource for objective public policy research and analysis. A part of the School of Public Affairs (College of Public Programs), Morrison Institute brings university scholarship and public policy development together for the benefit of Arizonans.

New Returns on Investment in the Knowledge Economy: Proposition 301 at Arizona State University, FY 2003 is available online at http://www.morrisoninstitute.org.

Morrison Institute for Public Policy

School of Public Affairs | College of Public Programs | ASU

PO Box 874405 Tempe AZ 85287-4405

P: 480-965-6585 | F: 480-965-9219

http://www.morrisoninstitute.org