By Bill Stephan
Interesting piece by Robert Samuelson that underscores the importance of establishing polices that support entrepreneurs and new business start-up activities.
Indiana universities nearly double research spending in last 10 year – Indiana Economic Digest – Indiana
By Bill Stephan
According to the Indianapolis Business Journal (IBJ), it became clear to state leaders about 10 years ago—when Indiana was hemorrhaging manufacturing jobs—that universities, not factories, would have to be the engines of the state’s economy going forward. Since then, Indiana’s major research universities—Indiana and Purdue—have nearly doubled their science-based research budgets, to a total of $895 million. This “research enterprise” likely employs more than 5,000 workers, according to an IBJ estimate based on data from IU and Purdue. And it has helped fill research parks and incubation centers with fledgling companies, such as Endocyte, Therametric Technologies and Marcadia Biotech.
Indiana universities nearly double research spending in last 10 year – Indiana Economic Digest – Indiana.
Around the State: IU Kokomo Chancellor Hopes to Lead Regional Transformation
by David Gard
On October 22, Michael Harris was officially installed as the new chancellor of Indiana University Kokomo. Chancellor Harris brings to his new post an unbridled sense of optimism and energy as he is firmly committed to IU Kokomo playing a leading role in the transformation of the regional Kokomo economy through innovation and knowledge.
Recently, Chancellor Harris sat down with Gerry Dick on Inside Indiana Business to discuss his vision for IU Kokomo and the “once in a lifetime” opportunity facing both the campus and the community. Please check the following video web link to see and hear more from Chancellor Harris:
To highlight his recent installation, the following link contains more details on the unique background and experience of Chancellor Harris:
Perfecting the Pitch : Venture capitalists offer advice on what they look for—and what turns them off
By Tony Armstrong
From the Wall Street Journal: Early in his career as a venture capitalist, Steve Brotman received a knock on his office door and in walked a woman dressed from head to toe in an outrageous green costume. She reached in her bag and served Mr. Brotman a business plan for a company that had “avocado” in its name.“Regardless of whether I was interested, you lost me at hello,” Mr. Brotman, now the managing director of venture-capital fund Greenhill SAVP in New York, says he told her. “I’m not about to do a deal with a lady dressed like an avocado.”It takes much more than a gimmick to get the attention of venture capitalists. As a growing number of entrepreneurs compete for a shrinking pool of capital, it’s more important than ever to make a good first impression with an airtight pitch. Read the whole article
Around the State: Regional Economic Development Resource Center (REDRC)
by David Gard
A valued asset to the Southeast Indiana business community, the IU Regional Economic Development Resource Center (REDRC), familiarly known as “Red Rock,” matches the needs of companies, organizations, and communities with available resources. Based at IU Southeast in the School of Business, REDRC assists regional businesses and organizations in a number of ways, including: identifying new technologies, reviewing business plans, identifying faculty subject matter experts who might be able to offer consulting assistance, preparing grant proposals, and fostering international activities. REDRC works closely throughout the region with business and commuity leaders of companies, Chambers of Commerce, not-for-profits, local governments, area economic development agencies, U.S. Departments of Commerce, Indiana Economic Development Corporation, the SouthEast Indiana Small Business Development Center, and the Southern Indiana Rural Development Project. For more information on how to connect with REDRC, please contact director Brenda Swartz at bswartz@ius.edu.
Connect with IU – Center for the Business of Life Sciences
By Bill Stephan
From the CBLS website: Founded in 2008, the Kelley School’s Center for the Business of Life Sciences was started with the belief that life sciences companies are essential economic drivers for growth and employment. To ensure the success of the industry as a whole, however, requires a broad collaboration of science and business acumen.
CBLS brings together students, faculty, life science companies and other corporate partners to:
- attract top students interested in careers in life sciences and develop them into strong future leaders for the life sciences industry
- support research on significant issues and questions faced within the industry
- provide a forum allowing companies and other corporate partners to connect with industry-focused students
- create significant networking opportunities for students, faculty, companies and friends to connect in order to strengthen Indiana’s life science industry
Find out more about the Center
Around the State: IU Council for Regional Engagement and Economic Development (CREED)
To more effectively connect with all IU campuses and the communities they serve in carrying out its mission, the IU Office of Engagement has created, with the support of the President McRobbie, the Council for Regional Engagement and Economic Development (CREED). The establishment of this body creates a permanent structure and enduring forum within the university’s organizational framework in which regional economic concerns can be addressed. CREED plays an instrumental role in identifying, through ongoing dialogue, how IU can bring its resources to bear to enhance economic development efforts throughout the state.
While the convening of regularly scheduled meetings is a fundamental aspect of CREED’s charter, the greater impact of the body derives from establishing a university-led means to address substantive issues of economic significance facing the state and its regional communities. The primary objective of CREED is to foster greater communication and transfer of knowledge across campuses to ultimately promote statewide economic development.
Chaired by IU Vice President for Engagement Bill Stephan, CREED is comprised of chancellor-appointed representatives from each IU campus and representation from Southwest Indiana. Each representative serves in a position focused on community relations, economic, and/or engagement issues in interactions between the campus and the regional community, with specific expertise in these areas.
Upcoming blog posts will spotlight innovative regionally focused economic development initiatives in which IU is playing a key role around the state.
Health Care Innovation: IU's Leading Role
By David Gard
Recently, IU President Michael McRobbie participated as a panelist at a National Journal policy summit on health care and job creation in Washington, DC. The event provided President McRobbie with a national forum to frame the fundamental role of research universities in advancing of health care innovation. He also highlighted how IU is specifically addressing critical needs in the ever-changing health care industry. Key points (with web links) included:
By playing an increasingly vital role in the nation’s innovation pipeline, University Research and Technology Transfer will continue to shape the future. As a research institution of the highest order, IU and its faculty are addressing some of the most complex problems facing the health care industry by (1) conducting leading edge research across the life sciences and health informatics and (2) accelerating the commercialization of research with market potential. http://researchadmin.iu.edu/ http://innovate.indiana.edu/iurtc/
Translational Research – the process of transforming basic scientific discoveries into new medical treatments and products– holds the promise of accelerating the realization of systematic health care benefits. The IU-based Indiana Clinical and Translational Sciences Institute serves a leading example of how a broad-based statewide partnership combining the strengths of universities, business, and government can have transformative impact for improved patient care and greater business opportunities. http://www.indianactsi.org/
Continuing advancements and new investments in Health Information Technology (HIT) can create new jobs, reduce costs, and improve overall quality. Indiana has developed one of the most robust HIT sectors in the United States today, and IU expertise plays a leading role. The Regenstrief Institute at the IU School of Medicine is an internationally recognized healthcare informatics research organization. http://www.regenstrief.org/
Innovation is a necessity for survival in the current health care environment. The adoption of medical innovation in hospital organizations is dependent upon the perception of trust as realized through applied information, knowledge, and resources. The trusted enterprise of Clarian Health is bringing the latest medical research breakthroughs to the clinical environment to deliver the highest quality of patient care and outcomes. http://www.clarian.org/
The entire panel discussion can be viewed via the following web link: http://insiderinterviews.nationaljournal.com/2010/09/policy-summit-prescription-for.php
How will the economy fare in 2011? IU Kelley School of Business Outlook Panel touring Indiana to present forecast
Looking ahead to 2011 in the aftermath of the economic downturn, many questions and uncertainties remain: Are we facing a new economic reality with different rules and a fundamental shift in expectations? When will significant job growth resume? Will we be stuck in slow economic growth for the time to come? What will be the impact on my business – and my job?
In its 2011 economic forecast, the IU Kelley School of Business Outlook Panel will assess how the changing economic environment will affect the key decisions facing executives, business owners, investors, and policy makers in the year ahead. For the past 37 years, the Kelley School of Business has presented its national, state, and local economic forecasts through a series of panel discussions held during the fall in cities throughout Indiana. Once again this year, Indiana Business Research Center director Jerry Conover heads a distinguished panel of leading Indiana economic experts.
This year’s Business Outlook Tour dates and cities include:
- Nov. 4 – Indianapolis
- Nov. 4 – Bloomington
- Nov. 5 – Columbus
- Nov. 9 – Richmond
- Nov. 9 – Anderson
- Nov. 10 – Kokomo
- Nov. 10 – Fort Wayne
- Nov. 12 – Schererville
- Nov. 16 – New Albany
For more detailed information on the IU Kelley School of Business Outlook Panel including the local sponsoring organizations, venues, and starting times, please refer to the official press release announcing the tour: http://newsinfo.iu.edu/news/page/normal/15977.html
Indiana Life Sciences Collaboration Conferences Series: Center for the Business of Life Sciences: Kelley School of Business: Indiana University
By Tony Armstrong
Each year, CBLS presents its Indiana Life Sciences Collaboration conference series, which provides a forum for various players in healthcare and life sciences to consider, discuss, and debate key business strategy issues. The forum brings together key players from industry, academia, government, and economic development communities.
See the full schedule