Government and University TechTransfer
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Top 3 eye-catching inventions from U of M student entrepreneurs – Event To Spotlight UM Research Efforts, 11/1, University Of Montana
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.
Money donated to a new Gateway Crimson Innovation Fund http://www.techventures.utah.edu/tco/sponsorships.php will help push university inventions, such as medical devices and treatments, drugs, energy technologies and software, into the marketplace.
Unusual in that it straddles the line between academia and private enterprise, ASU SkySong made a major directional shift in 2010 from a university department intended to spark student interest in entrepreneurship to one directly charged with creating jobs, bringing to market the fruits of ASU research and contributing to statewide economic development.
Universities should encourage students to explore entrepreneurship through spinoffs as a potential career option outside of academia.
"The research also showed that successful entrepreneurial output requires more than a proficient technology transfer office with effective policies and a strong incentive system."
Among the projects funded were initiatives — all of them involving a university or other research institutes working in tandem with private firms — to improve liquid crystal devices, aerospace materials, medical imaging, cellular therapies and orthopedic surgery.
Experts say area labs don’t spark enough startup businesses
Partnership for success: University Commercialization Institute provides expertise across state, region
A great example of all campuses in a state working together to promote tech transfer to improve the economy of the entire state.
"Innovation is the only way to build a strong economic future, and U.Va.’s innovation programs are setting a national example through their return on investment for all partners."
The Office for Technology Commercialization will guide faculty in the formation of the company. Faculty members will hold a majority interest, and the university will hold a significant equity position. In the early stages, the held equity will have no financial value.
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