Universities As Engines Of Economic Development

This book describes patterns of behavior that collectively allow universities to exchange knowledge more effectively with industry, accelerate innovation and eventually contribute to economic development. These are based on the effective practices of leading and ambitious universities around the world that the authors have benchmarked, and the personal experiences of the authors in a number of international institution building projects, including those of MIT. The authors provide guidance that is globally applicable, but must be locally adapted. The approach is first to describe the context in which universities act as engines of economic development, and then present a set of effective practices in four domains: education, research, innovation, and supporting practices. Each of these domains has three to six practices, and each practice is presented in a similar template, with an abstract, a rationale and description, key actions and one or two mini-case studies. The practices are summarized by integrative case studies. The book: Focuses on a globally adaptable set of effective practices, complemented by case studies, that can enhance universities’ contribution to economic development, based on an integrated view of education, research and innovation; Presents effective practices and broader insights that come from real global experience, spelled out in templates and explained by cases; Includes tangible resources for university leaders, policy makers and funders on how to proceed.

Local, state, and national economies are facing unprecedented levels of international competition. The current fiscal crisis has hampered the ability of many governments in the developed world to directly facilitate economic growth. At the same time, many governments in the developing world are investing significant new resources into local infrastructure and industry development initiatives. At the heart of the current economic transformation lie our colleges and universities. Through their roles in education, innovation, knowledge transfer, and community engagement, these institutions are working toward spurring economic growth and prosperity. This book brings together leading scholars from a variety of disciplines to assess how universities and colleges exert impact on economic growth. The contributors consider various methodologies, metrics, and data sources that may be used to gauge the performance of diverse higher education institutions in improving economic outcomes in the United States and around the world. Also presented are new typologies of economic development activities and related state policies that are designed to improve understanding of such initiatives and generate new energy and focus for an international community of scholars and practitioners working to formulate new models for how public universities and colleges may lead economic development in their states and communities while still performing their traditional educational functions. Universities and Colleges as Economic Drivers is meant to cultivate greater understanding among elected officials, business representatives, policymakers, and other concerned parties about the central roles universities and colleges play in national, state, and local economies.

"Academic science in the U.S. once self-consciously avoided the market. But today it is seen as an economic engine that keeps the nation globally competitive. Creating the Market University compares the origins of biotech entrepreneurship, university patenting, and university-industry research centers to show how government decisions shaped by a new argument--that innovation drives the economy-transformed academic science"-- Provided by publisher.

This book provides readers with an in-depth understanding of the many ways in which universities contribute to economic development and growth. It demonstrates the causal interactions between universities� activities and economic outcomes, and presents

Compares the economic effects of university research in the USA and Japan. Incorporating historical, sociological and industrial perspectives, the book discusses the mechanics of university-industry interactions and how policies encouraging such interactions can address regional/national needs.

This open access book is unique in its contents. No other title in the book market has tackled this important subject. It introduces innovation as a way of practice for world-class universities. It, then, discusses the criteria for being innovative in the academic world. The book selects some of the top innovative world-class universities to study the factors that qualified them to be innovative, so that any other university can follow their steps to become innovative. The final chapter of the book presents some recommendations in this regard.

Over the past 19 years, Economic Modeling Specialists International (Emsi) has responded to the demand for credible and affordable economic impact studies by completing over 2000 such studies for colleges in the US, UK, Canada, and Australia. The book chronicles the lessons learned over this time period and highlights what an economic impact study is, is not, what the results mean, and why they are important. It also discusses how presidents and governing boards can leverage the impact results to address other issues they deal with on a daily basis. Few college presidents are fully aware of this opportunity, however, and thus do not fully exploit the richness of the study. A strong case is also made that the college leadership should play a much stronger leadership roles in regional economic development of their region in addition to their roles as advocates for their colleges only.

Today, universities around the world find themselves going beyond the traditional roles of research and teaching to drive the development of local economies through collaborations with industry. At a time when regions with universities are seeking best practices among their peers, Shiri M. Breznitz argues against the notion that one university's successful technology transfer model can be easily transported to another. Rather, the impact that a university can have on its local economy must be understood in terms of its idiosyncratic internal mechanisms, as well as the state and regional markets within which it operates. To illustrate her argument, Breznitz undertakes a comparative analysis of two universities, Yale and Cambridge, and the different outcomes of their attempts at technology commercialization in biotech. By contrasting these two universities—their unique policies, organizational structure, institutional culture, and location within distinct national polities—she makes a powerful case for the idea that technology transfer is dependent on highly variable historical and environmental factors. Breznitz highlights key features to weigh and engage in developing future university and economic development policies that are tailor-made for their contexts.