Princeton Entrepreneurship Council’s Post

We're proud to share that Northeastern University is part of one of three new National Science Foundation (NSF) Innovation Corps (I-Corps™) Hubs. Led by Massachusetts Institute of Technology, the NSF I-Corps Hub: New England Region will provide entrepreneurial training that enables researchers and graduate students to turn their research into commercial ventures.    "This is one way that we bring our mission to life by positively impacting society through our research," said Jack Lesko, director of engineering at Northeastern's Roux Institute, who is the faculty lead for Northeastern's participation. "Research holds huge potential for technology transfer," he explained. "Getting these innovations out of the lab and into the real world strengthens the innovation economy and drives job creation." The other participating universities are Brown University, Harvard University, Tufts University, the University of Maine, the University of Massachusetts Amherst, and the University of New Hampshire. Northeastern's participation in this successful application was driven by Aileen Huang-Saad, director of life sciences, health, & engineering; Jack Lesko, director of engineering research; Michael Pollastri, senior vice provost and academic lead; Chris Wolfel, associate vice president and head of entrepreneurship and venture creation; and Jennifer Boyle-Lynch, executive director of the Center for Research Innovation.  . . . #NortheasternUniversity #NationalScienceFoundation #NSF #TechnologyTransfer #Maine #Entrepreneurship

"Since 1990, more than 280 high-growth companies have been founded to commercialize UC Berkeley research. They leveraged $51 million in initial government grants into more than $25 billion in private investment. [...] Government-sponsored inventions have generated more than $221 million for UC Berkeley to date, with scores of future revenue-generating products under development." In a new op-ed for The Mercury News, Assoc. Vice Chancellor Dr. Carol Mimura discusses why new proposed policy changes may be disastrous for federally-funded research's ability to benefit universities and the public. Read the full article below. #researchandinnovation #publicpolicy

Academia has shifted its view of faculty entrpreneurship dramatically over the past 25 years, and for good reason. Despite this, universities will have to support, promote, and incentivize commercialization of university-developed innovations to a much grrater degree in the future to stay relevant in the era of parabolic acceleration of AI/automation and plentiful private sector capital. Kudos to Duke and its faculty (some featured here) for their commitment to test the riskier commercial waters . While it may not be obvious, it is actually risky for a faculty researcher who has been successful in the federal grants game to stick their neck out and test their innovations in real-world applications in the commercial arena. This is not trivial for those who dedicate their lives to their university labs and the grants that support them. The system that awards academic currency, accolades, and advancement needs a little tweaking to encourage and de-risk faculty innovators who are trying to create impact (beyond grant funding) with their research. If this doesn't happen, it is likely that fewer high impact discoveries will come from academic labs, and that talent will be siphoned into industry to an even greater degree.

READ: 2023 "Faces of American Innovation" honoree Carol Mimura, who serves as assistant vice chancellor for intellectual property and industry research alliances at the University of California, Berkeley, just published a new op-ed in The Mercury News and East Bay Times! Her piece highlights how Bayh-Dole has helped UC Berkeley drive economic growth in the Bay Area and across the United States -- and how the Biden administration's new proposal to uproot the Bayh-Dole system would be highly damaging to American innovation. "Since 1990, more than 280 high-growth companies have been founded to commercialize UC Berkeley research. They leveraged $51 million in initial government grants into more than $25 billion in private investment. Given that Berkeley now receives anywhere between $400 million and $600 million in federal research funding annually, our ability to spur groundbreaking entrepreneurship keeps growing." "Consumers everywhere benefit from the commercialization of university technology. From UC Berkeley alone, those inventions include medicines for cancer and malaria, gene-editing technology being used to solve health, climate and agricultural problems worldwide, and wave-powered electricity generation." "The proposal would be catastrophic for research institutions, which reinvest licensing revenue into research to help brilliant researchers — including students — produce more world-changing solutions. Government-sponsored inventions have generated more than $221 million for UC Berkeley to date, with scores of future revenue-generating products under development…If adopted, the proposed march-in framework would jeopardize this beneficial cycle of discovery, translation and reinvestment." Read the full op-ed: https://lnkd.in/dqYpadG5 #BayhDole #techtransfer #innovation #invention #university #research #science #technology #smallbusiness #entrepreneurship #investment #venturecapital #government #policy #law #California #BayArea

Collaboration between existing knowledge and research is crucial to achieving significant impact on society. Approaches like pull, which focuses on solving real societal problems, enable us to ensure that research is translated into concrete products and solutions. Find out more about this topic at #TecScience.

University of North Carolina at Chapel Hill ranked 35th for innovation by Inc. Magazine! Built on one of the better databases out there related to innovation, commercialization, and entrepreneurship (e.g. AUTM), this is the innovation ranking you should be watching in my opinion. Here is my take but feel free to disagree. 1. Lots of potential left on the table: this is a great ranking but still feels like we haven't reached our potential because... 2. Research dollars are there: there are several higher ranked institutions that bring in far less research dollars. NCInnovation has pointed out this disparity in our region and pointed out that we have lots of opportunities for grow in this innovation and entrepreneurial domain. 3. Engineering Schools matter less than we think: a common explanation here at Carolina is that our lower ranking is driven by a lack of an engineering school. There is data and research that calls this into question. Think tank research on the same AUTM data found "Our study reports some evidence that having a medical school improves an institution’s innovation impact productivity, but no evidence that having a business school or an engineering school has any effect." See link here: https://lnkd.in/eX-a4hYz 4. Oh Canada: we are losing to one too many Canadian universities. If that doesn't motivate us, then I don't know what will. Love you Canada and all of my Canadian friends. 🤣 #UNC #Entrepreneurship #Innovation #HigherEducation #ContinuousImprovement

As we celebrate **Global Entrepreneurship Week**, we’re shining a light on the incredible innovation happening right here in our community. At Fanshawe College’s Centre for Research and Innovation (CRI), we’re fortunate to collaborate with visionary companies driving change and innovating! Out of the many companies we collaborate with, we’d like to take a minute to highlight three of our recent projects: 🔹 **Cedar Valley** – A local success story of a high-school project turned into a growing mother-son business duo. Not only have they been featured on Dragon's Den, but they are now available in more stores than we can keep track! The CRI was able to help them accommodate their existing equipment as they scaled into their expansion with a second production line. 🔹 **GoodPud** – Sarah Senior and her team have a passion for excellence that is truly sweet! The CRI was able to help evaluate and extend the shelf-life of their desserts so you can enjoy them for longer! 🔹 **Biofect Innovations** – Pioneering advancements in the sustainable production of novel ingredients! Biofect is developing a natural alternative sweetener designed to be a healthier option compared to existing alternatives. With support from the CRI, they have optimized their production process to enhance efficiency and quality, bringing them closer to commercializing their innovative product.   This Global Entrepreneurship Week, let’s celebrate the incredible entrepreneurs who challenge the status quo and drive the economy forward. To Cedar Valley, GoodPud, and Biofect Innovations – thank you for your partnership and for inspiring what’s possible! Here’s to fostering entrepreneurship, empowering ideas, and building a future filled with opportunity! Learn how the #CRI can help you achieve your next R&D project: www.fanshawec.ca/research #GEW2024 #Entrepreneurship #Innovation #ResearchInAction #FanshaweCRI #CedarValley #GoodPud #BiofectInnovations

Fostering a vibrant entrepreneurial culture depends on universities, colleges, and community colleges. Our role is to develop the talent and serve as the connective tissue within the ecosystem. Universities provide essential resources, including institutional capital, intellectual capital, human capital, and idea creation, thereby ensuring the ecosystem's vitality and sustainability. I’m enthusiastic about and energized by the growing entrepreneurial ecosystem in Chicago, especially the talent driving it - our students. This is truly a transformative time, and our universities, colleges, and community colleges are uniquely positioned to play a vital role in shaping the future of entrepreneurship, innovation, and economic development. A recent article from Chicago Inno explores how local universities are shaping Chicago's entrepreneurial ecosystem: https://lnkd.in/gADRmddn #EntrepreneurshipEducation #VentureCreation #StartupEcosystem

How is Rutgers University supporting its innovators? Check out this Fast Company article.

#WMU is at the forefront of innovation! Western is joining several other Michigan universities to launch the Michigan University Innovation Capital Fund (MUICF) and Michigan University Innovation Capital Consortium (MUICC). This initiative is focused on spinning out university technology into companies and unleashing Michigan Innovation and imagination within the University's ecosystem to help start-up businesses across the state. With a $5 million award, Western proudly stands alongside esteemed institutions like the University of Michigan, Michigan State University, Wayne State University and Michigan Technological University within this impactful consortium! If you're interested in learning more about this innovative advancement, read the informative piece here: https://bit.ly/3I5qMCz