The Michigan Economic Development Corporation, in partnership with the Presidents Council, State Universities of Michigan, released the results of the second annual state report that benchmarks the technology transfer performance of Michigan’s major research universities.The report indicates that Michigan universities’ performance closely approaches the national average on statistics that define economic development measures.
“This report shows progress is being made when it comes to encouraging more technology transfer out of our world class universities,” said Doug Rothwell, president & CEO, of the Michigan Economic Development Corporation.“However, we realize that more work lies ahead to bring Michigan’s universities up to par with the best in class tech transfer educational institutions.”
The report, drawn from the Association of University Technology Managers (AUTM) report for 2000 (the most current data available), benchmarks the University of Michigan (UM), Michigan State University (MSU), Wayne State University (WSU) and Michigan Technological University (MTU) to the national average and the best-in-class universities.The report uses a number of statistics and measurements to create benchmarks in the areas of technology transfer and entrepreneurial activity.
In the categories of number of licenses and options yielding income, adjusted gross license income received and total sponsored research dollars Michigan universities improved in this year’s study.Specifically, Michigan universities received close to $950 million in sponsored research dollars in 2000 as compared to $880 million in 1999.
The report shows that Michigan universities are still below the national average in start-up creation.However, the four universities generated a total of nine start-up companies in 2000 compared to four in 1999.
A recent study by the MEDC and the Presidents Council showed that Michigan’s universities contributed $39 billion annually to the state’s economy.However, only about $131,000 of that yearly contribution can be attributed to revenue from university start-up companies.
The MEDC has created several programs including the Emerging Technology Challenge Fund, Michigan Entrepreneurship Education Network and SmartZone Business Accelerator Programs to encourage further entrepreneurial activity at Michigan’s research universities.
This annual report is one element of the Partnership for Economic Progress, a strategic partnership between the MEDC and Michigan’s 15 public universities, created to recognize and enhance the important role universities have in economic development.
According to Glenn Stevens, Executive Director of the Presidents Council, “Michigan’s economic growth will be influenced by how effectively we promote technology transfer and foster a strong commitment to entrepreneurial initiatives.The value of the MEDC-university partnership has already been demonstrated, and there is every reason to believe that continued collaboration will produce significant benefits in the future.”
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.To view the complete benchmarking report, CLICK HERE.