Incubators for Economic Development

Blurbed "The role of regional state colleges and universities in driving new, high-impact ventures," this University Business article from Janine Janosky, Renee Babcock, and Robert Brenton explores the myriad economic development benefits of university-based research and potential for town and gown collaboration:

Because of their strong connection to local economies, regional IHEs are capable of providing licenses or seed funding and office space, with all parties aiming to contribute to the economic development of the state and region. Universities benefit from technology transfer and commercialization activities by attracting and retaining top academicians as well as gaining from license income.

Communities and states that provide the entrepreneurial infrastructure in which university technology transfer and commercialization can flourish benefit from the resulting start-ups and business expansions, including radically new technologies for growth sectors. Also, the possibilities for stimulating economic growth can potentially be even more far-reaching if universities form alliances.