stimulating the illinois economy: ui research
DESCRIPTION
stimulating the illinois economy: UI Research. Vice president Larry schook December 10, 2013. Defining roles and outcomes. Creating new technologies through discovery research Direct economic impact of externally funded research Increasing the competitiveness of Illinois companies - PowerPoint PPT PresentationTRANSCRIPT
DEFINING ROLES AND OUTCOMES
1. Creating new technologies through discovery research
2. Direct economic impact of externally funded research
3. Increasing the competitiveness of Illinois companies
4. Creating and supporting global businesses and UI startups
5. Providing the human capital to underpin a technology oriented economy
CREATING NEW TECHNOLOGIES THROUGH DISCOVERY RESEARCH (2013)• Patents filed were 378
• Patents issued were 96
• Licenses and options were 96
• Start ups were 11
• Royalties were $25.4M
ECONOMIC IMPACT OF RESEARCH
U of I Research Discoveries
Tech Transfer and Commercialization
Business development and growth
R&D Funding (Demand for
New Innovations)
Business creation
Demand for High Skilled Jobs
Local Tax Revenue
Generation
Illinois Economy is Stimulated
Research drivenEcosystem
RESEARCH FUNDING- DIRECT ECONOMIC GROWTH AND JOB CREATION
$1B annual external research funding is approximately $750M for salaries or 10,000-12,000 high paying technology jobs and income taxes!
University receives
EXTERNAL grant
funding
High-tech jobs are created
Skilled, educated workers
relocate to area
Employees pay taxes
and spend money in the local economy
Economy is stimulated
INCREASING THE COMPETITIVENESS OF ILLINOIS COMPANIES
• EnterpriseWorks o Business incubators offering entrepreneurial support
to startups
• IllinoisVentureso Provides startup capital with >500K follow on funding
o Half of research park companies
• Research Parko Provides access to faculty and students
o Provides access to infrastructure (computing, etc.)
o Provides access I-START, EIR and training programs
CREATING & SUPPORTING GLOBAL BUSINESSES AND UI STARTUPS
UI Research Park
90 companies
1,400 employees
$175M in annual economic impact and almost $15M in annual taxes
5th ranked College of Engineering (US News and World Report); global top ten
2nd ranked institution for number of international students
More STEM grads than all other Illinois public universities combined
400+ companies funded research UI last year involving students
PROVIDING THE HUMAN CAPITAL TO UNDERPIN A TECHNOLOGY ORIENTED ECONOMY (STEM)
• More than 9,000 engineering undergrads enrolled across UI campuses each year – that’s more than Stanford, MIT, Berkeley, and CalTech combined
• Top 3 colleges* in quality of undergraduates by corporate recruiters
• Top 10 most innovative universities shaking up education (Edudemic, 2013)
UI providing tomorrow’s global innovators and technology entrepreneurs
Undergrad Grad Undergrad Grad Undergrad Grad0
1000200030004000500060007000
U.S. Residents International
Urbana-ChampaignEngineering
Electrical/Computer Engineering Computer Science
6763
27581860
473 947 441
CONCLUSION
• UI is a direct economic engine through external funding research
• UI discoveries drive new business development in the state of Illinois
• UI research directly and indirectly increases the competitiveness of Illinois companies
• UI STEM students provide the human capital for Illinois companies to compete