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UB Joins Research Universities Nationwide in Pledge to Expand Entrepreneurship and Economic Development

Release Date: September 16, 2011

BUFFALO, N.Y. -- The University at Buffalo has joined research universities across the country in a pledge to expand entrepreneurship, technology commercialization and regional economic development.

UB President Satish K. Tripathi was one of more than 100 university leaders across the country who gave support this April to a letter from the National Advisory Council on Innovation and Entrepreneurship (NACIE) to U.S. Secretary of Commerce Gary Locke.

The message expressed a commitment to engage in activities that promote innovation and the commercialization of research results in partnership with industry, private foundations, venture capitalists and local, state and federal governments.

This week, Tripathi expanded on that commitment with a letter to President Barack Obama outlining activities that UB has undertaken and will undertake to fulfill that pledge.

UB's efforts fall under five broad areas: encouraging student innovation and entrepreneurship; encouraging faculty innovation and entrepreneurship; supporting the university technology transfer function; enhancing university-industry collaboration; and engaging with regional and local economic development efforts.

Initiatives Tripathi described ranged from his service as co-chairman of the newly created Western New York Regional Economic Development Council, to the establishment of the Undergraduate Academies, which give students opportunities to conduct research and learn about the challenges of translating discoveries into economic opportunities.

Tripathi also highlighted the efforts of units such as UB's Office of Science, Technology Transfer and Economic Outreach (STOR) and UB's New York State Center of Excellence in Bioinformatics and Life Sciences to support the transformation of research into new technologies.

STOR and the Center of Excellence support commercialization through services including business incubation, assistance for small businesses writing funding proposals and events for companies seeking venture capital.

"We are dedicated to ensuring that the knowledge and technological breakthroughs developed at our institution are rapidly and broadly disseminated to advance the nation's social and economic interests," Tripathi wrote.

The University at Buffalo is a premier research-intensive public university, a flagship institution in the State University of New York system and its largest and most comprehensive campus. UB's more than 28,000 students pursue their academic interests through more than 300 undergraduate, graduate and professional degree programs. Founded in 1846, the University at Buffalo is a member of the Association of American Universities.

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Charlotte Hsu
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