PARTNERING WITH COLLEGES AND
TO LAUNCH AND ATTRACT ENTREPRENEURS
RECOMMENDATIONS FOR ECONOMIC DEVELOPERS
- Develop a regional strategy for
capturing and retaining spin-offs from the university. The strategy should include
development of a staged entrepreneurial infrastructure and services needed
to nurture and grow start-ups.
Plan for and implement strategies that not only capture, but also
retain growing enterprises over time.
- Work with the university to identify
core competencies in and around the university.
- Work with the university to increase federal funding in core
competency areas. This
increases the research foundation upon which new inventions are based and
technology startups are launched.
venture capital, particularly seed and early-stage capital to the
community. In order to attract
more early-stage capital, work with the university to market innovations
and start-ups to potential investors.
If the university does not have enterprise forum and business plan
competitions, help them create those activities and/or develop community
local sources of seed capital and develop/enhance angel capital networks. Make sure those networks are well
linked to the university.
local entrepreneurial services to the university – educate university
technology transfer offices, entrepreneurship programs, incubators,
research parks, etc. about the community’s entrepreneurial resources and
make the link. Also work with the
university to insure linkages to state technology programs and to federal
resources such as SBIR.
identify entrepreneurial mentors and CEOs-in-residence and introduce
them to university entrepreneurship programs and technology transfer
offices. If there are no mentoring
programs at the university, work with the university to create them or
alternatively create external programs that can be accessed by university
with corporations in the community to educate them about university research and entrepreneurial
resources and offer to act as a liaison between corporations and the
university. Encourage corporate mentoring and
corporate participation on university advisory boards.
abundant networking opportunities for entrepreneurs in the university
and the community.
the university; it is one of your community’s best technology assets. Work with the university’s technology transfer office,
sponsored research office, incubator, research park, and press office to
identify and publicize entrepreneurial and technology transfer news
locally, regionally and nationally.
Encourage local newspapers to start a “Tech Thursday” section on
science and technology. Sponsor
media events such as local awards dinners for entrepreneurs that help
create an entrepreneurial atmosphere in and around the university.
university leadership to become fully engaged in economic
development. Organize meetings between the university
leadership and key policy makers and corporate leaders to
facilitate university engagement and align economic development strategies
the university evaluate its impact on local and state economies and
present the outcomes to policy makers. Universities, particularly state universities, need credible
economic impact data to justify their requests for state funding of
research, technology transfer and entrepreneurial activities. Helping the university “make its case”
serves the university’s and the community’s economic interests.
For more information, go to: www.InnovationAssociates.us