Win the Race

The state must ensure that the powerful research being conducted at Michigan’s research-intensive universities—and in conjunction with businesses—is translated more effectively into new companies, jobs, and an increasingly entrepreneurial culture.

RECOMMENDATION

Commercialize More Research

• Michigan’s higher education institutions must make commercialization of research an institutional priority and align internal practices and performance measures to support it where appropriate.
• Michigan’s colleges and universities should establish their own venture capital funds within their schools, colleges, institutes, and similar divisions to create locally managed pre-seed funds that leverage the existing Smart Zones and business accelerators.
• Michigan’s universities and community colleges must form networks to accelerate applied research and business formation that leverage existing Smart Zones and business accelerators.

(Economic Benefits Work Group rec. 3)

News

• Governor Announces Lansing Regional Smartzone Open for High-Tech Business, States News Service (January 31, 2006)
• Granholm Takes Nest Step to Implement $2 Billion Job Creation Fund, States News Service (December 14, 2005)

Web Link

• Ann Arbor Spark

Related Legislation

• SB 0359
• SB 0533
• HB 5047