University Research Parks Drive Innovation and Growth
PHILADELPHIA, Pa., September 27, 2013 - University research parks are a successful way to advance innovation and create economic growth in regions across North America, according to a new report, “Driving Regional Innovation and Growth,” prepared by Battelle Technology Partnership Practice (TPP) in partnership with the Association of University Research Parks (AURP). Further, university research parks are an effective way to create new employment opportunities for existing technology companies, according to the report.
Highlights of the report, based on a survey of North American university research parks, reveal:
• The creation of an environment that encourages innovation and entrepreneurship is the top priority of university research parks
• Innovation-driving services are offered by nearly all university research parks.
• In the last five years, 963 new businesses have graduated from the responding research parks incubators or related startup space. Only 19 percent of these startup companies were no longer in business, compared to the national statistic of over 50 percent.
• Average job gains for research parks over the period 2007 to 2012 were 27 percent, well outperforming the economy overall (as based on 85 university research parks who responded to a similar survey back in 2007).
The Science Coalition releases
"Sparking Economic Growth 2.0"
The Science Coalition has released its latest report, “Sparking Economic Growth 2.0,” which illuminates the effects of federal investment on basic scientific research. The report highlights how university research has benefited local economies, and society at-large, through supporting startups incubated in cultures and communities of innovation. These companies bring market transformative innovations in energy, medicine, defense and technology--creating new jobs and boosting local economies. Were it not for federally supported research, these jobs would likely not exist today. Read the full report here.
AURP Names Winners of 2013 Awards of Excellence
The Association of University Research Parks (AURP) named the Oklahoma University Research Campus as the 2013 Outstanding Research Park. The 18th Annual AURP Awards of Excellence ceremony, held this year in Philadelphia, recognized the achievements of outstanding research parks and those who direct them, and encourages the development of best practices among university research and science parks.
Others recognized at the 18th Annual AURP Awards of Excellence include:
Highlighting the University of Arizona Science & Technology Park
University research parks are where the world’s brightest minds go to work. In these environments of innovation, startup businesses are provided the resources they need to flourish, forming new jobs and industries. More mature companies partner with universities on projects and find easy access to an educated workforce and suppliers.
Emerge Center breaks ground at LSU Innovation Park
It's ready, set, go for Innovation Park, LSU's dedicated complex for research commercialization. The Baton Rouge Speech and Hearing Foundation, or BRSHF, broke ground at the Park for its new facility that will be called The Emerge Center for Communication, Behavior and Development. The Emerge Center will offer clinically-effective therapies to children and adults with communication difficulties from the Greater Baton Rouge area and across Southern Louisiana, regardless of their ability to pay. Read more.
NPR: Notre Dame and Ignition Park Reinvent South Bend
Listen to the NPR story on how Notre Dame and Ignition Park are reviving the once "dying town" of South Bend, Indiana. South Bend may be best known as the home of the Fighting Irish, but it was once the home of Studebaker automobiles. When Studebaker closed in 1963, it left a gaping hole in the town, where unemployment is at 10.4 percent, according to the latest data from the Bureau of Labor Statistics. Now, the city is working hard to create a second act for the commercial life of South Bend. In recent years, some of Studebaker's former assembly plants have been torn down, and one former site on the company's old grounds has been renamed Ignition Park. Listen Now.
Research Parks Create Jobs and Economic Growth
Research, science and technology parks are catalysts for job creation. As communities look for ways to create jobs and drive economic growth, many are finding innovation to be a key element.
“University research parks are having a major impact on their communities – by creating high-wage jobs,” said Kevin Byrne, AURP President and the Chief Operating Officer of the University Financing Foundation. One example of this is the Purdue Research Park Network. According to a recent economic impact study, the park is responsible for a $1.3 billion annual impact for the State of Indiana and “more than 4,000 high-tech, high-quality jobs paying an average annual salary of $63,000 – 65 percent higher than the Indiana average.” Read more.
Custom Programs Taught by Community Innovation Experts
Bring your stakeholders together with this custom program taught by highly experienced, successful research park directors and university-led economic development experts. By focusing on your region’s unique strengths and minimizing challenges, AURP’s on-site seminars help communities find the path to successful high technology economic development endeavors.
Learn from AURP’s team of university research park experts, who have actually built and operated the world’s leading research parks. Their experience and advice will be invaluable as you tackle challenges: just getting started or “remodeling” your innovation efforts. AURP’s “Creating Communities of Innovation” is tailored to your community, your challenges and your own assets.
Create your own successful Community of Innovation with AURP’s “Creating Communities of Innovation.” Take the first step today! Read more.
History of the Research Triangle on CSPAN
Narrated by The Research Triangle Park's President & CEO Bob Geolas
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