Educational Institutions Economic Impact

Posted on February 7, 2007  Comments (3)

I believe investing in creating an environment where science and engineering endeavors will flourish will greatly benefit the economy. Some previous posts discussing these ideas include: Great Engineering Schools and Entrepreneurism, Engineering Future Economic Success, Science Research and the Economy and China’s Economic Science Experiment.

Wisconsin’s effort is hardly unique, but I grew up in Madison and my father taught Chemical Engineering, Statistics, and more at the UW so I pay attention to the efforts in Madison. The Wisconsin Alumni Research Foundation has been one of the most successful attempts to take academic work and create successful business efforts to benefit the university, the professors and the economy overall. Their mission: “Moving inventions arising from the university’s laboratories to the marketplace for the benefit of the university, the inventors and society.”

Building Wisconsin’s Economy illustrates how the University of Wisconsin at Madison attempts to focus on creating economic benefit, which I think is a good idea. Economic benefit is not the only purpose, but it is worthy of focus.

Building our own business: University Research Park now is home to 110 companies — many of which are based in biotechnology and life sciences — employing 5,500 people, up from 4,000 last year. The park has been so successful that the university is already planning Research Park II, which will bring an estimated 200 companies and 15,000 new jobs to Dane County.

Related: Harvard and Edinburgh Life Sciences CentersChina Invests More in Science and EngineeringUniversities Focus on Economic BenefitsState Foster Science for Future JobsScientific Innovation and Economic Growth

3 Responses to “Educational Institutions Economic Impact”

  1. CuriousCat: Highly Paid Professor
    July 27th, 2007 @ 5:18 pm

    “Alain has been responsible for bringing in billions of dollars to U Albany for nanotechnology research and development … about $4 billion to date…”

  2. CuriousCat: JMU Adds School of Engineering
    August 28th, 2007 @ 9:06 pm

    “The commonwealth of Virginia has also identified the top three labor shortages areas as nursing, education and engineering. JMU decided to respond to this need by creating a program that will produce close to 50 graduates per year, starting with the first graduating class in 2012…”

  3. CuriousCat: Technology and Fun in the Classroom
    March 14th, 2008 @ 9:33 am

    “We’re not here to waste time because that’s not the way it’s going to be when they get in the job market. The biggest challenge for me is changing the attitudes of some students and instilling a work ethic.”

Leave a Reply