The University of Arizona is making a shift to move at the speed of business by separating its technology transfer efforts into a separate nonprofit corporation; a move that should bring more research dollars, create more local jobs and create a better working relationship with the business community.
The initiative involves the forming of a 501(c)3 organization under the tentative name of the University of Arizona Research Corporation, which will be under the umbrella of the University of Arizona Foundation.
The overhaul of tech transfers and company spin-offs is an effort to take better advantage of the more than $600 million in research expenditures the school will use in fiscal year 2010.
“You almost waste the money spent on research if you aren’t creating new companies right here in Southern Arizona,” said UA Provost Meredith Hay introducing the plan Oct. 28 at Ideafunding, an annual entrepreneur event sponsored in part by the university.
To read the full, original article click on this link: News : University of Arizona takes tech transfer private - Inside Tucson Business azbiz.com newspaper | Arizona News | Tucson Jobs | AZ Business | News and Features for Tucson and Southern Arizona's business and legal communities | Territorial news
Author: This email address is being protected from spambots. You need JavaScript enabled to view it.
