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Entrepreneurship in New York: The Mismatch between Venture Capital and Academic R&D. By Judith Albers, Ph.D., and Thomas R. Moebus

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  Entrepreneurship in New York:The Mismatch between Venture Capital and Academic R&D Judith Albers, Ph.D.Thomas R. Moebus 2014  © 2014 Judith Albers and Thomas R. Moebus Tis work is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 3.0 Unported License . ISBN: 978-0-9897226-3-6 (Print)978-0-9897226-4-3 (Electronic) Published by Milne Library, SUNY Geneseo, 1 College Circle, Geneseo, NY 14454  About This Report In the summer of 2009, The State University of New York embarked on creating the rst comprehensive strategic plan in the vast system’s sixty-year history. Less than a year later, the University launched The Power of SUNY—an ambitious plan that grew out of dozens of intense discussions that took place across the state and included voices from all sectors. Over the course of ten months, thousands of business owners, elected ocials, education experts, community leaders, students, and others came out to several town hall-style meetings and events to discuss a common, underlying concern: the state’s struggling economy and what could be done—what SUNY could do—to make it ourish and create a beer quality of life for all New Yorkers.In the process of puing together The Power of SUNY, six interreliant “Big Ideas” emerged upon which the University’s goals for its future—and New York’s future—are built: SUNY and The Seamless Education Pipeline, SUNY and Healthier New York, SUNY and an Energy-smart New York, SUNY and the Vibrant Community, SUNY and the World, and the subject of this report, SUNY and the Entrepreneurial Century.Research and innovation have long been mainstays of American higher education, but in the 21st century knowledge creation is no longer enough. Economic growth depends on translating knowledge into tangible, measurable benets, from more patents used to more grants won to more  jobs created. This shift demands an entrepreneurial mindset, a way of thinking that creates and shapes new markets.The critical components that businesses of all sizes and stages need—knowledge, talent, and expertise—can all be found at SUNY. We have $1 billion annually in research expenditures, more than 10,000 research projects across the system’s 64 campuses, signicant infrastructure, strong existing partnerships, and some of the best faculty and students in the world. We must continually explore, aggressively, how we can combine and ne-tune our many diuse pieces to help current and future New York companies and address national research gaps.Because of the SUNY system’s diversity—of areas of expertise, of place, of the make-up of our student  body and workforce—and sheer magnitude, we are uniquely positioned to serve as New York’s strongest economic driver. We take this responsibility seriously and also consider it a tremendous privilege. Marrying our core mission, To Learn, To Search, To Serve, with our profound economic development capabilities makes for a powerful combination the likes of which, we think, the nation has never before seen. We oer this report as one of many steps toward fully realizing our potential to drive entrepreneurship and innovation, and build strong, healthy communities across the Empire State.
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