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Challenges and Role ofUniversity Facultyin Economic Development Nebraska Research Expo

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Title: Challenges and Role ofUniversity Facultyin Economic Development Nebraska Research Expo


1
Challenges and Role of University Faculty in
Economic DevelopmentNebraska Research Expo
  • Howard Van Auken, PhD
  • April 20, 2005

2
Overview
  • Role of Small Firms in US
  • Role and Challenges of University Faculty

3
Small Firms in the US
  • Vast Majority Of All Firms
  • 60-80 Of New Jobs (Innovation)
  • gt 1.0 Million Small Firms Created Each Year
  • Core Of New Industry Formations
  • One-Half Of All Innovations Since WWII
  • 95 Of All Radical Innovations Since WWII
  • Record Amounts of Equity Investment
  • Venture and Angel Capital

4
Role of Small Firms in US
  • 10 million American Adults Involved In Starting
    About
  • 6 Million Potential New Businesses At Any Given
    Time
  • High Rate Of New Business Formation
  • Constant Flow Of High Impact Firms
  • Churning Of Business
  • At The Core of US Economy
  • Not Automatic By-Product of Market System

5
Small Firms in the US
  • Employ About 1/2 Of Private Sector
  • Fill Niche Markets
  • Innovate
  • Increase Competition
  • Give Individuals Chance To Succeed

6
Small Firms in Nebraska(2003)
  • About 149,000 Small Firms
  • About 45,600 Employer Firms
  • 97 Were Small Firms
  • Employed About 382,70 (51 Non-Farm Private
    Workforce)
  • About 86 Of Firms With Employment Had 20
    Employees Or Less

7
Entrepreneurial System
  • Large Mature Firms
  • Government
  • High-Impact Entrepreneurial Firms
  • Universities

8
University Research
  • University-Based Research Important To Innovation
  • Basic Research Leads To Discoveries That Provides
    The Basis For More Applied Technologies
  • Universities Commercializing Technologies At
    Increasing Rate
  • gt200 US Universities Involved In Technology
    Transfer

9
Technology Transfer
  • US Economic Transition (Manufacturing To
    Knowledge-Based)
  • Commercializing Scientific Findings
  • Academic Institutions Interest in Technology
    Transfer
  • Recognize Discoveries Made At The Institution
  • Attract And Retain Faculty
  • Licensing Revenue
  • Local Economic Development (Jobs and Tax
    Revenues)
  • Universities Potential Role In Economic
    Development
  • Universities At Center Of Economic Development

10
Role of Universities (2002)
  • 37. 02 Billion Research
  • 15, 573 Disclosures
  • 7,741 New Patent Applications
  • 3673 Patents Issues
  • 4673 Licenses Signed
  • 1.27 Billion License Income
  • 450 Companies Started

11
Role of Universities (2003)
  • 7.7 Growth In Invention Disclosures
  • 8.2 Increase In Patent Applications
  • 5.5 Increase In License Income
  • New Start-Ups Down 6.7

12
Summary
  • Role and Economic Contribution of Small Firms
  • US
  • Nebraska
  • Role and Contributions of Universities
  • Research and Technology Transfer
  • Faculty

13
Role of Faculty
  • Innovators
  • Consultants
  • Educators
  • Business Owners

14
Faculty As Innovators
  • Scientific Discoveries and Business Start-Up
  • Job Creation
  • Tax Revenue
  • Clustering Effect

15
Faculty As Consultants
  • Reservoir of Intellectual Resources
  • Integrating Theory with Practice
  • Experience

16
Faculty As Educators
  • Students and Outreach
  • Classroom
  • Experiential Learning
  • Programs

17
Faculty As Business Owners
  • Integration of Theory and Practice
  • Value-Added to Community
  • Value-Added to Classroom
  • Value-Added to Research

18
Faculty Challenges
  • Organization Culture
  • Faculty vs. Business
  • Faculty Research Focus vs. Business Focus
  • Expectations on Faculty and Business
  • Potential Disconnect
  • Apprehensions About Collaborating
  • Schedule

19
Faculty Challenges

Cost Financial Intellectual Property Career
20
Faculty Challenges
  • Skills
  • Faculty vs. Business
  • Theory vs. Practice
  • Time Management

21
Summary
  • Role of Small Firms
  • Commercialization of New Technology
  • Faculty Contributions and Risks
  • Organizational Differences
  • Universities As Facilitators
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