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The Academic Perspective on

The Academic Perspective on. Technology Transfer/Economic Development. My Personal Belief is that: Knowledge is the basis of the future of the United States and its leadership in the world. The Academic Community view of tech transfer/economic development has at least four parts.

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The Academic Perspective on

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  1. The Academic Perspective on Technology Transfer/Economic Development

  2. My Personal Belief is that: Knowledge is the basis of the future of the United States and its leadership in the world. • The Academic Community view of tech transfer/economic development has at least four parts.

  3. 1. A University has a stake in the Community a. We live here. b. Our children grow up & hopefully find an opportunity to stay near-by. c. Academic institutions located in a thriving community see more potential students and likely opportunities for financial support.

  4. 2. There is Intellectual Stimulation inTech Transfer/Economic Development • Certain professors are attracted to new problems and the practical use of what they know. • Provides an opportunity to show graduate students the value of what they are working on. • Growth in a research area happens when one professor discusses a problem with his peers.

  5. 3. A Variety of Activities aids in the Retention of Faculty & Staff • Some faculty appreciate an opportunity to broaden skills. • Provides employment income in their own field for graduate students. • Faculty Research Assistants can create some financial security for themselves and their family.

  6. 4. A Chance for Descretionary Income for the Institution CWRU income this year over $ 11MM from Technology Transfer activities. CWRU launched 15 companies in past five years. 90% of Incubated Companies survive beyond three years. 87% of Start-up Companies stay in the region where founded.

  7. Universities: Both Plus and Minus Effects on Start-Ups ADVANTAGES a. Research laboratories have a variety of services at hand ( machine shop, high level IT support, instrumentation,etc). b. Staff is a community of achievers. c. Students and research support staff are a source of technically trained manpower. d. Laboratories often study local problems. Many local problems are also national or worldwide.

  8. Address these for a win-win Situation POSSIBLE PROBLEMS a.One thing University Staff does not have: TIME ( Researchers make long trips for research, teach, write grant applications,advise students, manage research staff, publish papers). Location is critical to save time. b. Research laboratories focus on technology. Not much to offer non-technical start-ups. c. Professors & research staff typically have little background in business, marketing and the law. They need strong support here. d. Universities must focus on “ enabling ” by eliminating bureaucracy.

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