Midwest universities form innovation alliance
A new four-university alliance, led by the University of Michigan’s Center for Entrepreneurship (CFE), is helping researchers across the Midwest turn their inventions into marketable products to benefit society.
Supported by a $3.5 million grant from the National Science Foundation’s Innovation Corps program, the alliance — which also includes the University of Illinois at Urbana-Champaign, Purdue University and the University of Toledo — has established a “node,” or hub, for a network that educates, supports and connects academic researchers to the entrepreneurial ecosystem across the region. “The geographic spread, diverse industrial base and scale of the node help the Midwest in a way that was not previously possible,” said CFE managing director Jonathan Fay, who also serves as the node’s executive director.
To achieve their goals, the four universities plan to host training programs for scientists and engineers. These intensive courses will encourage them to extend their focus beyond the laboratory and to examine the commercial potential of their technologies to avoid building a product that does not solve a customer’s problem or address an unmet need — the number one reason that startups fail.
The node program was activated in January 2017 and will be funded for five years.