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<span id=Overview – Building an Innovation Community"docs-internal-guid-36ae871c-edac-6031-3ccc-2eb3706d3bb3"><span style="font-size: 14.6667px; font-family: Arial; color: rgb(0, 0, 0); background-color: transparent; vertical-align: baseline; white-space: pre-wrap;">The University of Southern California (USC) is a private, not-for-profit, nonsectarian, research university located in Los Angeles, California. USC was founded in 1880, making it California's oldest private research university. The university has a "very high" level of research activity, receiving [http://about.usc.edu/facts/ $691 million in sponsored research between 2014 and 2015].</span></span>
<span id="docs-internal-guid-36ae871c-edac-6031-3ccc-2eb3706d3bb3"><span style="font-size: 14.6667px; font-family: Arial; color: rgb(0, 0, 0); background-color: transparent; vertical-align: baseline; white-space: pre-wrap;">[https://www.linkedin.com/in/krisztinaholly Ms. Krisztina “Z” Holly is ], previous vice provost for innovation at USC, and executive director of the '''''[https://stevens.usc.edu/ USC Stevens Institute for Innovation'''''], where she works with academic units across USC to identify promising innovations and innovators, helping faculty and students make societal impact with their ideas. Z, a member of the National Advisory Council on Innovation and Entrepreneurship (NACIE), oversees a diverse staff with expertise spanning business, marketing, financial and intellectual property management, technology licensing, and new venture creation.Together with the USC Stevens Institute for Innovation, her mission is to maximize the translation of USC research into products for public benefit through licenses, collaborations, and the promotion of entrepreneurship and innovation.</span></span>
<span id=Student Entrepreneurship"docs-internal-guid-36ae871c-edac-6031-3ccc-2eb3706d3bb3"><span style="font-size: 14.6667px; font-family: Arial; color: rgb(0, 0, 0); background-color: transparent; vertical-align: baseline; white-space: pre-wrap;">Institutional agnosticism or at least recognition/accommodation of the tradeoffs, between top or bottom-driven innovation, and “garage” or “scalable” entrepreneurship have all been helpful in building USC’s vibrant innovation culture. But ultimately, USC’s success is attributable to university leadership’s commitment to promoting an innovation culture within the university, while also establishing a reputation for the university as a “magnet” for innovation and entrepreneurship with the “right people” in the community. Otherwise innovation may just become brute force.</span></span>
<span id="docs-internal-guid-36ae871c-edac-6031-3ccc-2eb3706d3bb3"><span style="text-decoration: underline; font-size: 14.6667px; font-family: Arial; color: rgb(17, 85, 204); background-color: transparent; vertical-align: baseline; white-space: pre-wrap;">[https://docs.google.com/a/usc.edu/spreadsheets/d/1QOede1P4px-iEC4ShzUfBhgLk6wNZuYiorLfaLl6VfA/edit?usp=sharing https://docs.google.com/a/usc.edu/spreadsheets/d/1QOede1P4px-iEC4ShzUfBhgLk6wNZuYiorLfaLl6VfA/edit?usp=sharing]</span></span> <span><span style="text-decoration: underline; font-size: 14.6667px; font-family: Arial; color: rgb(17, 85, 204); background-color: transparent; vertical-align: baseline; white-space: pre-wrap;"></span></span> = Student Entrepreneurship = '''Spark SC '''serves as the main entrepreneurship, innovation, and tech student organization campus. They ignite innovation by empowering students to develop their entrepreneurial potential and by fostering collaboration within the USC and Los Angeles community. Spark does this by exposing USC students of all majors and backgrounds to entrepreneurial thinking and innovative problem solving, giving students the confidence to pursue their entrepreneurial endeavors, contributing to the growing momentum of Los Angeles entrepreneurship, and connecting industry leaders and experienced entrepreneurs to the USC community. '''LavaLab '''is another student organization on USC's campus that promote the entrepreneurship ecosystem. They are a student-run, product incubator where every semester, a new cohort of visionary designers, developers, and project managers build tomorrow’s startups, today. In LavaLab, students get the opportunity to ideate, design, and execute their ideas in an actual startup format. At the end of the semester, teams in LavaLab pitch to industry venture capitalists for the chance to get feedback and potential funding on their projects. '''The Center for Technology Commercialization''' (CTC) at USC Marshall School of Business has several innovation and entrepreneurship programs for students. *'''MBA Commercialization Teams''': Through '''''the Technology Feasibility Course''''', '''''the Ideas Empowered Program''''', and by special request from researchers, CTC recruits MBA students to join researchers to conduct technology/market roadmaps, feasibility studies, and business design. *'''Internships''': Graduate and undergraduate students can apply for internships in startups through CTC’s partnership with '''''the Business Technology Center''''' of the County of Los Angeles, and with USC alumni. *CTC's academic component includes courses at the graduate level that prepare students to create new technology ventures.*In conjunction with '''''the Lloyd Greif Center for Entrepreneurial Studies''''', CTC offers a '''Certificate in Technology Commercialization'''; a four-course program open to matriculated and non-matriculated individuals in a graduate program or holding a graduate degree. This university certificate is designed to give applicants a specialty in technology commercialization. <br />In addition to the certificate program in technology commercialization, USC Marshall School of Business also offers concentration in entrepreneurship and technology commercialization.
'''The Entrepreneurship and Venture Management''' concentration at USC Marshall School of Business provides students with a thorough grounding in the business skills needed to start or manage a rapidly growing business. The courses offered not only give students the skills to excel in established industry roles; they also give the students the ability to spot and take full advantage of opportunities in small firms.
The'''Technology Commercialization''' concentration at USC Marshall School of Business prepares students to work in a variety of careers associated with technology commercialization. These include managing technology development projects; intellectual property or project portfolio; consulting to companies seeking to derive new revenue streams off archived IT; consulting to companies in the areas of technology and market feasibility; and managing commercialization effort. In addition, the concentration prepares the entrepreneur to take a technology from idea to market with in-depth and real-world knowledge of the technology commercialization process.
'''The USC Entrepreneurship Club''' (eClub) helps students learn about entrepreneurship and launch their companies or ideas outside of the classroom, regardless of their major. For over a decade, the organization has served as an entrepreneurship hub for students and alumni. The eClub is also committed to organizing highly valuable and innovative events, while creating a support structure of resources, networks, and opportunities for startup and existing businesses.
'''The USC Student Innovator Showcase and Competition''' presented by the USC Stevens Institute for Innovation, is a university-wide innovator showcase which gives parents and students a highly interactive glimpse into the imaginations of USC student innovators, and a sneak peek at tomorrow's world. The showcase is hosted each year during the opening day of Trojan Family weekend and is followed by an awards reception (which includes cash prizes).
=Faculty Entrepreneurship=
'''The Lloyd Greif Center for Entrepreneurial Studies''' develops, supports, and disseminates leading-edge interdisciplinary scholarship on entrepreneurship. Among other programs and services, the Center provides research support to faculty members for entrepreneurship-related projects through its annual '''''Faculty Research Awards'''''. In 2011, the Greif Center awarded three faculty research grants totaling $11,000. Other programs include:
*'''The Greif Seminar Series''' brings leading entrepreneurship researchers to the Marshall School to present their recent work ;*'''Greif-sponsored Conferences''' bring together academics from around the world to present and discuss recent research; and*'''The Greif Research Impact Award''' is a $5,000 annual award given to the researcher(s) who publishes the most impactful entrepreneurship article in top management and entrepreneurship journals.
'''The James H. Zumberge Research and Innovation Fund''' is USC’s university-wide faculty research grant support mechanism. It awards several hundred thousand dollars each year through its annual James H. Zumberge Awards competition. The Zumberge Fund promotes the initiation of research at USC through two types of awards: Individual Awards and Interdisciplinary Awards. Recipients of Zumberge Interdisciplinary grants also derive these added benefits:
*Individual Awards help newer faculty launch their research careers, and support research in areas with limited external funding opportunities through grants of up to $25,000;*Interdisciplinary Awards of up to $50,000 foster collaborative efforts among faculty from different schools and disciplines that lead to sustained interdisciplinary research programs and projects;*$5 million per year in support from the '''''National Science Foundation’s Science''''' and '''''Technology Center''''' program, to establish the '''''Center on Dark Energy Biosphere Investigations''''' at USC; and*More than $4 million per year from the '''''National Institutes of Health''''' to bring the '''''Bioinformatics Research Network''''' (BIRN) to USC .
= University Technology Transfer Functions =
The Stevens Institute develops the innovator as well as innovations, through educational programs, community-building events, and showcase opportunities. From the biosciences and technology, to music and cinematic arts, USC Stevens connects faculty, students, and the business community to create an environment for stimulating and inspiring innovation across all disciplines.
Beginning with a free consultation, AMI USC professionals provide a range of services for investors and companies including:
*Information on how to start a new own company;*Detailed education on the commercialization process;*Intellectual Property (IP) evaluation and market analysis; and
*Comprehensive assistance to inventors with the entire process of maturing their inventions for commercialization
<br/>'''The Center for Technology Commercialization''' (CTC) at the USC Marshall School of Business mission is to identify, encourage, and support technology entrepreneurship activities among faculty, students, and staff. CTC assists in the areas of IP issues, business feasibility analysis, business design, start-up financing, management team acquisition, preparation for funding, and related issues. =University-Industry Collaboration=
USC welcomes industry collaboration to commercialize research, nurture startups, attract and motivate commercialization talent, and educate and train a world-class workforce.
The USC Stevens Institute will continue outreach to partner with stellar private companies to fund and develop technology translation.
=Regional and Local Economic Development=
The University of Southern California leverages its unique relationships with industry, government, and nonprofits to spur economic development and encourage innovation across campus and throughout the nation.
Crucially construction of the Village at USC is expected to provide economic gains:
*12,000 new jobs (4,000 construction-related, 8,000 permanent) throughout the Specific Plan development area;*$1.1 billion construction‐related economic impact on the Los Angeles County economy;*$2.8 million in one‐time construction revenue for the City of Los Angeles; *$1.7 million in annual revenue benefits for the City of Los Angeles from The Village of USC operations; and
*$3.8 million in tax increment to the Community Redevelopment Agency through the year 2030; this is the single largest addition of tax increment revenue in South Los Angeles.
<br/>These are just but some of the several ways activities at USC drives and benefits the regional economy.
=Deep-Dive Questions=
*Is innovation an integral part of USC’s institutional culture?
*How do you envision your program in the future?
*What is your vision for each of the case study’s bucket, especially regional and local economic impact?
*How does your institution leverage (or intend to leverage) geographic endowment?*Are your innovation, entrepreneurship, and tech transfer programs integrated?<ul style="margin-left: 40px; list-style-type: circle;">
<li>Why, or why not?</li>
</ul>
*Are there any unique successes (and or challenges) you may wish to highlight?
=Conclusion=The University of Southern California (USC) is a private, not-for-profit, research university and an Association of American Universities (AAU) member school. Ms. Krisztina "Z" Holly’s comments have been instructive in better understanding USC’s various innovative entrepreneurship, research, and technology transfer programs. As well as the impact of the NACIE commitment letter in framing USC’s strategic plans and institutional culture. The Office of Innovation and Entrepreneurship thanks USC’s assistance with this case study, and looks forward to a continued close and collaborative relationship in building America’s innovation infrastructure.<div><br/>______________________________________________________________________________________________<div id="ftn1"><sup>10</sup> Comments by: Krisztina "Z" Holly, former Vice Provost for Innovation, USC, & Executive Director, the USC Stevens Institute for Innovation.</div><br/></div><br/>______________________________________________________________________________________________<br/>C. L. Max Nikias Biography:<div><div id="edn2">Krisztina “Z” Holly:</div><div id="edn3">CTC Opportunities for Students:</div><div id="edn4">Entrepreneurship & Tech Transfer Program:</div><div id="edn5">The eClub:</div><div id="edn6">USC Student Innovator Showcase and Competition:</div><div id="edn7">The Lloyd Greif Center for Entrepreneurial Studies:</div><div id="edn8">The James H. Zumberge Research and Innovation Fund:</div><div id="edn9">AMI USC:</div><div id="edn10">Center for Technology Commercialization:</div><div id="edn11">The Ideas Empowered Program:</div><div id="edn12">USC – JNJ Translational Innovation Partnership Program:</div><div id="edn13">USC Impact: Source: "The Innovative and Entrepreneurial University: Higher Education, Innovation & Entrepreneurship in Focus", Department of Commerce, October 2013.</div></div><br/><br/>
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