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Alternative Revenue Sources to Fund Research

Alternative Revenue Sources to Fund Research. Geoffrey S. Chatas Senior Vice President for Business and Finance and Chief Financial Officer. Research at The Ohio State University. Research Across a Large University Targeted Investments in Excellence (TIEs ).

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Alternative Revenue Sources to Fund Research

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  1. Alternative Revenue Sources to Fund Research Geoffrey S. ChatasSenior Vice President for Business and Finance and Chief Financial Officer

  2. Research at The Ohio State University

  3. Research Across a Large UniversityTargeted Investments in Excellence (TIEs) A 5-year, $110 million investment targeting major global concerns through multidisciplinary work: • Climate, Water, and Carbon • Mathematical Biosciences Institute • Public Health Preparedness Program • Center for Cosmology and Astro-particle Physics • Center for Clean, Sustainable Energy • Advanced Materials Initiative • Population and Health Initiative • Translational Plant Sciences Initiative • The Music Industry Program • Micro-RNA Project

  4. Centers for Innovation: Leading Innovation and Discovery to Address Problems of Global Dimension • Centers for Innovation: Leading Innovation and Discovery to Address Problems of Global Dimension Poverty Access to energy Hunger Art and culture Health and disease Industrial competition Climate change Economic systems

  5. Collaboration Across Disciplines Food Innovation Center • Designing foods for health • Food safety • Biomedical nutrition/ disease prevention • Global food strategy and policy

  6. Finding Solutions to Global Challenges Health and Wellness Food Production and Security Energy and the Environment Photo courtesy of the Ohio State Office of Energy and Environment Photo courtesy of the Ohio State Medical Center Discovery Themes

  7. Ohio Third Frontier Program Ohio Third Frontier Program • 60+ Ohio State projects • 60+ Ohio State • projects • Facilities and • laboratories • Industry-university • collaborations • Product development

  8. “Partnerships with a Purpose” “Partnerships With a Purpose” • The Ohio State University • Industry Liaison Office • Accelerating Innovation… • Connections • Strategic Partnerships • Project Collaborations • Student Opportunities • Sponsored Research • Support Services • Opportunity Assessments • …building global leadership 8

  9. “The Gateway” to Ohio State Innovation and Expertise More than 400 New or Renewed Connections

  10. Ohio Research Industry Partnerships More than 340 Industry Partnerships

  11. Ohio State is actively engaged in more than 760 partnerships with industries representing 40 states The number of industry partners are represented in each state

  12. One example of a College investing in faculty research - Medicine • The College of Medicine (COM) invests in its researchers via three programs • Equipment/Shared Resource Program • Created to support the purchase/upgrade of shared equipment or the development and dissemination of innovative methodologies expanding Core use • Applications are reviewed by COM Core Oversight Committee • $475,000 have been awarded since FY10 to 16 researchers

  13. COM Research Investments • Bridge Funding Grant Program • Created to provide short-term bridge funding to faculty with favorably reviewed but unfunded federal research • Goal: Support research that is likely to be federally funded • All applications are peer reviewed.. • Since FY10, 13 researchers have received more than $780,000 • 4 of these researchers have subsequently secured federal funding. Enhancement of review process recently implemented to increase this success rate. • Pilot Funding Grant Program • Recently created to fund preliminary data collection for proposal development • First round of application due September 2012

  14. Technology, Commercialization, and Knowledge Transfer Great economies are built around great universities, which attract:

  15. The Transformative Opportunity • Universities become the drivers • Almost 85% of capital and companies stay within 50 miles of universities Top 25 Large Metros: Forbes Best Places 2011

  16. The Transformative Opportunity

  17. Cradle-to-Grave Manager for OSU Inventions • The Technology Commercialization Office (TCO) at Ohio State supports all phases of university technology commercialization and start-up development.

  18. TCO: Changing Our Industry Partnerships INSIGHT Industry Prototype Launch/ Customers Research/IP Protection Lab Prototype Idea Beta Growth Market Directed Research Product Development Basic Research Applied Research Companies Ideation $$ Students Researchers

  19. Identify strategic partners who can: • Enhance research • Accelerate product development • Increase impact • Increase return on investment New Partnerships

  20. New Partnerships OSU-Battelle Innovation Center is a unique public/private partnership built to: • Attract outside capital for R&D • Invest in and commercialize technology breakthroughs • Educate and train the next generation of entrepreneurs and translational scientists • Set a standard in commercialization leadership • Expedite product development and prototyping

  21. Supporting Structures • The Ohio State Innovation Foundation (OSIF) provides OSU with a structure for:

  22. Faculty Innovation Scorecard

  23. Challenges and Opportunities Challenges Federal budget Federal regulations State budget Faculty retirements Change in focus of Ohio Third Frontier program Opportunities Collaboration (big projects) across colleges Industry downsizing in-house R&D Medical Center expansion and Nationwide Children's expansion Creation of office to pursue large grant opportunities Innovation opportunities with Battelle

  24. Questions and Discussion Thank you.

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