As global economic struggles persist, research universities worldwide are being called upon like never before to promote innovation, entrepreneurship and the commercialization of research – and to demonstrate the results of their efforts in terms of economic impact. Jobs, payrolls, and tax receipts have become the new metrics for tech transfer organizations, as local and national government leaders push for growth through research discoveries and innovation-driven start-up activity.
For many universities, this intensified pressure to prove the economic merits of research efforts has brought with it much closer integration and partnership with local and regional economic development agencies, as well as new initiatives that put more focus – and more pressure – on the ways TTOs and their universities contribute to their communities’ fiscal well being.
During this program, you’ll have an opportunity to hear from two universities that stand out as proactive examples of how to meet the economic development challenge. Rutgers University and the University of Maryland have each created a dedicated economic development office, and are actively employing creative strategies to stimulate economic impact and measure their results.
Please join Dr. Michael J. Pazzani and Brian Darmody for this hour-long program, where they will share their methods, challenges, successes, and measurement strategies:
Transform Your TTO Into an
Economic Development Engine
Here’s a peek at the agenda:
- Details of each university’s strategic plan for economic development on a local, regional and state level:
- Start up creation goals
- IP Licensing initiatives
- University degree programs
- How to ensure university and TTO goals are aligned with economic development efforts
- Innovative ideas for encouraging:
- Student inventions and commercialization
- Attracting VCs and Angel investors
- Economic benefits of disruptive innovations
- Strategies for measuring and reporting on economic impact metrics
- Dealing effectively with pressure for results
- Marketing and PR strategies that put your successes in economic development terms
- Tapping into the Economic Development Administration’s resources and assistance programs
- Review of the AAU and APLU’s economic development plan
Your Expert Presenters:
Dr. Michael J. Pazzani is Vice President for Research and Economic Development at Rutgers University. His responsibilities at Rutgers include oversight of research and graduate education, external funding for research, laboratory and animal services, and technology commercialization. Prior to his appointment at Rutgers, Dr. Pazzani was the Director of the Information and Intelligent Systems Division at the National Science Foundation from 2002–2006 where he oversaw a research budget of $200M. In addition, Dr. Pazzani helped to coordinate NSF’s homeland security research.
Brian Darmody is Associate Vice President for Research and Economic Development, and Special Assistant Vice Chancellor for Technology Development with the University System of Maryland. Projects led by Mr. Darmody include organizing the University’s first technology transfer office, authoring reforms to the State’s ethics legislation for entrepreneurial start-ups, developing legislation creating the Maryland Technology Development Corporation (TEDCO), initiating Research Parks Maryland (RPM), the nation’s first statewide research park organization, and serving as Director of the University of Maryland Center for Applied Policy Studies (UMCAPS). He is the principal author of the Power of Place, and the Power of Innovation, two national policy documents focused on technology-led economic development. He focuses on improving technology commercialization across the University System of Maryland and representing higher education recommendations affecting federal laboratories and facilities in the region.