Government and University TechTransfer

"We’re actually doing something, and the potential is enormous. It’s a way to differentiate ourselves from other universities nationally."

The Purdue Research Foundation has launched a website called "Innovation and Entrepreneurship" that offers a how-to approach to help entrepreneurs, investors, collaborators and others find information about commercializing Purdue innovations.

"The Bayh-Dole Act has had such far-reaching influence in both academia and American society, but it certainly is not a law that should be set in stone."

"In 1992, starting a UW spinoff was like pulling teeth," Mackie said, but the culture has changed enough over time that most faculty – especially younger members – recognize how technology transfer meshes with the mission of a modern research university.

They plan to create "venture incubator" positions to support new business ventures, as well as roles that will oversee the creation of the office’s long-term programs.

The private sector may help entrepreneurs launch businesses in myriad ways, but today the academic sector is where things are getting really interesting for startups, spinouts and spin-offs.

Sandia National Laboratories is building a portfolio of intellectual property that can be licensed by businesses in as little as an hour.

"Their IPO is a tremendous accomplishment, and we’re looking forward to seeing the drugs reach the market for the benefit of cancer patients worldwide."

“In previous years, the survival rates of these UW start-ups was roughly 50-50,” Holt said. “Now it’s closer to 80 percent surviving. Not only are we getting more start-ups going now, but we’re launching ones that will last, and have a greater chance of success.”

There are stories of famous entrepreneurs who never finished college – Bill Gates and Michael Dell come to mind – but the University of Michigan is banking that today students starting companies will want to stay in school if given the right resources.