Building a Pathway Connecting Innovation to Commercialization

University Of Arkansas, Fayetteville AR

Investigators

Abstract

0438704 Saxena This award is to the University of Arkansas to support the activity described below for 36 months. The proposal was submitted in response to the Partnerships for Innovation Program Solicitation (NSF-04556). Partners The partners include University of Arkansas (Lead Institution), Arkansas Science and Technology Center, Virtual Incubation Corporation, and Alpha Fund. The primary objectives are to integrate into the university educational system a complete pathway that creates knowledge, stimulates innovative ideas, and forges commercialization. With the infrastructure and culture to reach SBIR Phase I awards in place, this proposal sets it sights on building the very different businesses infrastructure and cultural change needed to reach commercialization. The activities include: creating a business infrastructure that facilitates the transition of SBIR Phase I winners to not only SBIR Phase II but also to Phase III and ultimately to commercialization, advertising the successes that will provide the examples that we have learned are needed to establish a campus a mindset that goes beyond SBIR awards by making clear what could sell, harnessing a cadre of untapped business professionals to provide mentoring to SBIR Phase I small businesses, conducting a formal evaluation of the impact of the overall program. Potential Economic Impact Arkansas has a long tradition of an economy based on agriculture. Despite the existence of a few very large businesses in the state, very few high tech companies exist. Arkansas would benefit economically from the fact that 66% of all new jobs are created by the 11% of new companies that are high tech. The vision is to create a thriving high-tech small business economy in Arkansas via a pathway for new ideas to grow in exciting interdisciplinary areas and for providing the resources needed to take successive steps leading from initial concept to actual in-hand marketable products. The intellectual merit of the project will result from integration of incubators, angel funding networks, and educational programs under what seems to be a well thought out management plan. The proposed project represents an important experiment in the creation of new high-tech commercial ventures in an economically underdeveloped state. The funding network is partially, although not fully, in place. A plan for assessment of outcomes of the project has been established in cooperation with assessment professionals from the university. The broader impacts of the activity concentrate on advancing discovery and understanding while improving teaching, training and learning at University of Arkansas. Participation of underrepresented groups is one of the innovation outcomes and partially reflective of the education component of this proposal. This proposal will also enhance the infrastructure of research education Project activities proposed would advance discovery and understanding while improving teaching, training and learning.