UA and CSU to collaborate on technology development

Akron, Ohio, Nov. 12, 2007 — The University of Akron and Cleveland State University will share resources aimed at promoting technology development and economic growth in Northeast Ohio.

Officials at both universities say this collaboration is an important first step in improving the innovation capabilities of the region and indicated that it could lead to forming a shared research foundation to more effectively support both institutions' collective research enterprises and promote economic growth throughout Northeast Ohio.

Under a recently signed agreement, the University of Akron Research Foundation (UARF) will initially perform technology, commercialization and intellectual property management services for Cleveland State on an as-requested basis. Services will include:

• Evaluating products and technologies for commercialization or other technology transfer opportunities.

• Negotiating and administering contracts to transfer commercialization rights in intellectual property and technology.

• Identifying collaboration opportunities among universities and private companies.

• Supporting emerging enterprises.

“While both Cleveland State and our university already manage these functions, a combined effort will allow us to leverage a much larger pool of university-industry partnerships,” says University of Akron President Luis M. Proenza. “Research foundations create wealth in the communities they serve; by combining our resources, we can support the entire region in creating economic growth.”

“Our ultimate goal is to combine, where advantageous and appropriate, the resources of interested universities throughout the region,” Cleveland State University President Michael Schwartz says. “Our region has the opportunity to be on the leading edge of research collaboration and economic development.”

Both executives issued an open invitation to other institutions to join them in this cooperative effort as future opportunities arise.

UARF is a not-for-profit organization supporting The University of Akron. Unlike typical university organizations, research foundations are affiliated non-profit groups that can hold equity in start-up companies, providing financial and technical support. They can also enter into independent contracts and manage profits from technology licenses.

UARF's expertise in pursuing technology transfer and commercialization opportunities is reflected in its recent inclusion as an “exemplary” institution in a recent study conducted for the National Science Foundation.

That study, conducted by Innovation Associates Inc., said when it comes to return on research investment and efficiency in transferring and commercializing technology regionally and nationally, UA is among the best in the United States.

The report named The University of Akron one of 10 “exemplary institutions for successfully advanced innovation partnerships through technology transfer despite their modest research expenditures, rural locations and other challenges.”

The Ohio Board of Regents recently ranked the university first in the state for the highest rate of return per research dollar leading to the commercialization of technologies.

The ranking was based on productive technology licenses, formation of start-up companies and direct industry research support by Ohio companies. UA was followed by Ohio State and Case Western Reserve universities, both of which have large medical complexes.

In explaining the synergizing effect of research foundations, Proenza notes that UARF has increased UA research funding almost $6 million in the past four years, helped create 21 companies and assisted many more.

"This is a giant step to strengthen and expand the commercialization network and to foster long-term wealth creation in our community," said UA's Vice President for Research George Newkome, who is also the president of UARF.

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