©2018 Michigan Economic Development Corporation

Granholm Announces Awards to Encourage Academic Entrepreneurs

Monday, October 04, 2004

Paul Krepps
(517) 335-4590

New Program to Reward Successful Tech Transfer Efforts

Governor Jennifer M. Granholm today announced the first annual Governor's U-ACE awards, which will grant two $25,000 prizes to Michigan university researchers. The University Award for Commercialization Excellence (U-ACE) was created to recognize and celebrate the successful commercialization of technology stemming from the research and entrepreneurial efforts of researchers at Michigan's public universities.

"Our universities play a critical role in growing Michigan's economy," Granholm said. "Recognizing and supporting the entrepreneurial talents within our educational institutions will keep technology bases business grow here, and create high-tech jobs for this generation and those to come."

The awards are the result of recommendations put forth at last year's University Summit on Economic Development and Collaboration. Convened by Governor Granholm, the summit brought together the presidents of Michigan's 15 public universities, leaders of private technology companies and the Michigan Economic Development Corporation to focus on invigorating university-led growth in technology transfer and commercialization.  

"Transforming the knowledge hatched by researchers at our public universities into high-tech industries will fuel Michigan's economy through the 21st century and beyond," said MEDC President and CEO Don Jakeway. "To the best of my knowledge this award is the first of its kind in the nation, and it is certainly one of the finest successes resulting from the University Summit."

The two $25,000 awards will be awarded to lead researchers in each of the two eligible categories. Category I participants include universities that have annual research expenditures under $100 million as defined by the Integrated Postsecondary Education Data System developed by the National Center for Education Statistics. Category II participants are those with average annual research expenditures that exceed $100 million.

Applicants will be reviewed by a selection committee of university, government and private industry professionals. Key criteria include the economic impact of the research and its stage of commercialization.

The awards are being financially underwritten by the MEDC and the University of Michigan.

"I am delighted to see that through these new awards, Governor Granholm is providing tangible recognition of the significance of technology transfer in our state economy," said Mary Sue Coleman, President of the University of Michigan. "The universities in the State of Michigan are actively encouraging research that will lead to marketable new discoveries, which in turn create new jobs. These Governor's Awards will spur entrepreneurial activity throughout the state."

Researchers may be nominated by their academic colleagues, external partners or themselves. For more information on the award and how to submit a nomination, please visit http://www.pcsum.org/U_ACE/. Deadline for submissions is March 1, 2005. Awards will be announced at a ceremony in April or May.

The Michigan Economic Development Corporation, a partnership between the state and local communities, promotes smart economic growth by developing strategies and providing services to create and retain good jobs and a high quality of life.