Recipe for high-end jobs for Rochester area and across the state
In an op-ed that appeared in the Sunday Democrat and Chronicle, Heather Briccetti, acting-president and CEO of the Business Council stress the importance of fostering the transfer on technology from our colleges and universities to the workforce. Although she highlights the Greater Rochester area has a champion of this effort, she uses the examples to show how this can be done by many institutions from SUNY Stony Brook on Long Island to Syracuse University and Cornell, in Central New York, RPI in the Capital Region and Clarkson University in the North Country.
“Public and private sector leaders worldwide understand that innovation is the key to competitiveness.
Gov. Andrew Cuomo’s regional approach to economic development is an offshoot of that realization. Part of this new approach must include the transfer of technology (TOT) from universities to the private sector.
Producing innovative, highly applicable research at our colleges and encouraging collaboration with local companies will open a commercialization pipeline through which new goods and services can be developed. It’s critical for every region of the state to foster these partnerships: Research shows that New York has fallen behind peer states in terms of venture capital investment.
To reverse this trend, vertical integration of economic development with a region’s research universities, four-year and community colleges must be leveraged.
State policy and local actions need to focus on attracting or expanding strategic employers. As stated in a Public Policy Institute report, “A global research institute for each technology should be established that is open to all researchers in the state and actively seeks to maximize successful commercialization of cutting-edge ideas.”
Rochester has the potential to be a front-runner in the innovation economy, given its top-notch universities and world-renowned companies.
Rochester Institute of Technology has an Intellectual Property Management Office that offers services including marketability assessments and technology transfer strategy development. RIT’s Albert J. Simone Center for Innovation and Entrepreneurship is linked to other universities across the state and offers programs that help people understand the value of their patents.
Vnomics, a Rochester-based company, uses a patented technology that was developed at RIT’s Center for Integrated Manufacturing Studies. The innovative technology was based around Department of Defense research conducted at RIT. The original intent of the product was to provide diagnostics for vehicles on the front lines to ensure they did not have any mechanical problems. When its private-sector applicability was realized, the technology was marketed to commercial tractor-trailer companies.
The University of Rochester is also making tremendous progress in the way of TOT — it has two Offices of Technology Transfer and has been responsible for more than 40 start-up companies over the last decade.
Excell Partners Inc. is an economic development partnership that was established in collaboration with the university and the state to provide financing for high-tech companies in upstate New York. It has provided $2.3 million in funding to 21 seed stage technology companies.
Many nations are replicating the characteristics that once formed the basis of the American advantage — open markets, investment in research and development, strong education systems and skilled workers.
When you take a regional approach to economic development and you combine TOT with global information networks, then you can compete on cost and quality and create high-value jobs.