Changes

School:Georgia Institute of Technology

440 bytes removed, 3 years ago

= Background =

<span style="font-size: 11pt; font-family: Arial; color: rgb(102, 102, 102); background-color: transparent; font-variant-numeric: normal; font-variant-east-asian: normal; vertical-align: baseline; white-space: pre-wrap;">In April 2010, more than 140 leaders from higher education endorsed and submitted a letter to then-Commerce Secretary Gary Locke through his National Advisory Council on Innovation and Entrepreneurship (NACIE). These leaders, including Georgia Tech’s former president, G.P. “Bud” Peterson, committed to work more closely with industry, private foundations, investors, and local, state, and federal governments to promote innovation, entrepreneurship, and the commercialization of research results. Underlying their commitment was a willingness to employ strategies, enhance existing activities, and expand efforts in several areas, including:

*Engaging with regional and local economic development efforts

<span style="font-size: 11pt; font-family: Arial; color: rgb(102, 102, 102); background-color: transparent; font-variant-numeric: normal; font-variant-east-asian: normal; vertical-align: baseline; white-space: pre-wrap;">The Department of Commerce’s Office of Innovation and Entrepreneurship (OIE) recently followed up with the signatories to better understand their efforts to embody and implement the ideas contained within the letter, as well as to improve their ability to develop policies and programs that support innovation, entrepreneurship, and the commercialization of research results. OIE is conducting phone calls with every respondent to discuss their strategies and develop a general outline of each of their initiatives.

<span style="font-size: 11pt; font-family: Arial; color: rgb(102, 102, 102); background-color: transparent; font-variant-numeric: normal; font-variant-east-asian: normal; vertical-align: baseline; white-space: pre-wrap;">For a select few institutions, including some who did not sign the NACIE letter, OIE has conducted a more thorough exploration of their strategies and initiatives. The goals of these “deep dives” are to discuss the historical and cultural context for the relevant work being done at leading institutions, highlight innovative practices, and uncover future trends. Through this exploration, OIE will be better equipped to advise on policies and develop future programs.

= Georgia Tech Campus Landscape~~ ~~ =

The University Innovation Fellows of GT 2014 and 2015, created a campus map that guides students on the ways they can engage in innovation and entrepreneurship on campus. 

GT 2014 - [https://docs.google.com/spreadsheet/ccc?key=0AkIeZwL27QHbdFY5bXZtWkZJcUhFQ0JiN2ZwbVZtclE&usp=drive_web#gid=0 https://docs.google.com/spreadsheet/ccc?key=0AkIeZwL27QHbdFY5bXZtWkZJcUhFQ0JiN2ZwbVZtclE&usp=drive_web#gid=0]

GT 2015 - [https://docs.google.com/presentation/d/1FdeurpjypjVfQEM8I6c71komCnjwX0CkeijiY-AeVMg/edit#slide=id.gded0dd295_2_14 ~~https://docs.google.com/presentation/d/1FdeurpjypjVfQEM8I6c71komCnjwX0CkeijiY-AeVMg/edit#slide=id.gded0dd295_2_14]~~

GT 2016 - [https://drive.google.com/folderview?id=0B844vlWIDJatbmdlX19lMnppV2s&usp=sharing&tid=0B9GRsz4i6ggaaEF0SnMya0ctc3c&nbsp https://drive.google.com/folderview?id=0B844vlWIDJatbmdlX19lMnppV2s&usp=sharing&tid=0B9GRsz4i6ggaaEF0SnMya0ctc3c&nbsp]

GT 2017 - [https://docs.google.com/spreadsheets/d/13vMBxhUjq3eFB8fDV7iE9fPZbss0PuwveCds26xx5c4/edit#gid=0 ~~https://docs.google.com/spreadsheets/d/13vMBxhUjq3eFB8fDV7iE9fPZbss0PuwveCds26xx5c4/edit#gid=0]~~

GT 2017 FALL - [https://docs.google.com/spreadsheets/d/1ne5M0NIz3XVB7avKgPQtbU0wJ8IOrMpCoWQnDn1hk2s/edit#gid=0 ~~https://docs.google.com/spreadsheets/d/1ne5M0NIz3XVB7avKgPQtbU0wJ8IOrMpCoWQnDn1hk2s/edit#gid=0]~~

GT 2019 - [https://docs.google.com/spreadsheets/d/1BWvsP2skudgm7ZPcjMANeHtkxR1a1CDodo0SLPT5YJU/edit?usp=sharing ~~https://docs.google.com/spreadsheets/d/1BWvsP2skudgm7ZPcjMANeHtkxR1a1CDodo0SLPT5YJU/edit?usp=sharing]~~

GT 2020 - [https://docs.google.com/spreadsheets/d/1kAIpi64teovh21BifYHi2yFPYxVBksonLrX5t55SkPo/edit#gid=1 ~~https://docs.google.com/spreadsheets/d/1kAIpi64teovh21BifYHi2yFPYxVBksonLrX5t55SkPo/edit#gid=1]~~

GT 2022 - https://docs.google.com/spreadsheets/d/1qhXH7uPgBev0WfqrIR6x8NPIPThtWlNtbPVkFQ4_Ls0/edit?usp=sharing = Overview – A Focus on Industry and Collaboration4 =

The Georgia Institute of Technology (Georgia Tech), a public research university in Atlanta, Georgia, is part of the University System of Georgia. Established in the 1880s on the heels of the Industrial Revolution, Georgia Tech’s mission has always focused on assisting industry. For example, the university’s basic and applied research efforts have been instrumental for the global aerospace industry, with Georgia Tech scientists playing key roles in the development of radar and other flight technologies. Georgia Tech focuses intently on the basic-to-applied research continuum throughout its comprehensive research programs in engineering, physical and life sciences, computing, and policy. Georgia Tech’s Strategic Vision and Plan () infuses a focus on innovation and entrepreneurism across the spectrum of basic and applied research as well as in its educational programs. Viewed in broad themes, research at Georgia Tech includes work in:

*Systems.

Georgia Tech’s culture embodies a collaborative approach. It enlists outside partners and contributors including academic, governmental, industry, and nonprofit institutions in an effort to better understand and ensure the benefit of research to the nation. In 1937, Georgia Tech established what is now the Georgia Tech Research Corporation (GTRC), an internal outpost for engineering experimentation and entrepreneurial applications of engineering, science, and technology. Georgia Tech also operates the oldest and largest university-based business incubator in the United States, the Advanced Technology Development Center, which was established in the 1980s to provide a range of services and facilities for entrepreneurs to launch and build new companies. Recognized by Forbes in 2010, the Advanced Technology Development Center has graduated 143 new companies, which have helped create millions of dollars in revenues and which together have attracted nearly $2.5 billion in capital activity. Capital activity includes venture capital funding, other investment, and the value of mergers and acquisitions.

Georgia Tech incorporates several strategies to ensure that it continually improves and expands its services to industry. To ensure it meets its fiduciary responsibilities and maintains public trust and confidence, the university continually strives to reduce bureaucratic barriers and modify underperforming initiatives. For example, the university has launched the Georgia Tech Integrated Program for Startups, GT:IPS™, which combines a streamlined licensing program with organized support for faculty and student inventor-entrepreneurs. The program provides information and education for entrepreneurs to help them form stronger, more successful companies, and the streamlined GT:IPS license agreement helps simplify negotiations and “take the drama off the table.”

Below is an enumeration of several Georgia Tech programs and initiatives that support the five buckets in the NACIE sponsored university commitment letter.

= STUDENT ENTREPRENEURSHIP</span~~><br/~~> =

<span style="font-size: 11pt; font-family: Arial; color: rgb(102, 102, 102); background-color: transparent; font-variant-numeric: normal; font-variant-east-asian: normal; vertical-align: baseline; white-space: pre-wrap;">Students at Georgia Tech are an active part of research and discovery. In fact, over 70 percent of invention disclosures name one or more students among the inventors. As part of a broader effort to foster innovation and entrepreneurship within its student community, Georgia Tech has several initiatives, including:

<li>[https://create-x.gatech.edu/ <span style="font-size: 11pt; color: rgb(17, 85, 204); background-color: transparent; font-variant-numeric: normal; font-variant-east-asian: normal; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Startup Summer, Create-X]— A GT program founded in the summer of 2015 that offers student teams $20,000 and mentorship over the summer to pursue their startup with a full time commitment. It is part of Create-X, a Georgia Tech initiative to instill entrepreneurial confidence in students and empower them to launch real startups. The broader goal of this initiative is to provide the knowledge, skills, abilities, and experiences that will give Georgia Tech graduates the confidence to create their own future and confidently pursue entrepreneurial opportunities.</li>

</ul>

<li>[http://www.startup.exchange/ <span style="font-size: 11pt; color: rgb(17, 85, 204); background-color: transparent; font-variant-numeric: normal; font-variant-east-asian: normal; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Startup Exchange]— This is a student run organization that meets weekly, and organizes huddles and meetups with other student entrepreneurs, students looking to be entrepreneurs and successful entrepreneurs from the Atlanta area.</li>

</ul>

<li>[https://create-x.gatech.edu/idea-prototype <span style="font-size: 11pt; color: rgb(17, 85, 204); background-color: transparent; font-variant-numeric: normal; font-variant-east-asian: normal; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Idea to Prototype]- This is a GT run program that offers course credit, research grants and faculty mentorship to student teams that want to pursue their idea and turn it into an actual product, over a period of 1-2 semesters.</li>

</ul>

<li>[https://www.scheller.gatech.edu/centers-initiatives/ile/gsvc/index.html <span style="font-size: 11pt; color: rgb(17, 85, 204); background-color: transparent; font-variant-numeric: normal; font-variant-east-asian: normal; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Global Social Venture Competition]- This is a global competition for student entrepreneurs in the social sector. Georgia Tech is the East Coast hub of the GSVC, with Berkeley in the West Coast.</li>

</ul>

*  [https://www.vip.gatech.edu/ <span style="font-size: 11pt; font-family: Arial; color: rgb(17, 85, 204); background-color: transparent; font-variant-numeric: normal; font-variant-east-asian: normal; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">Vertically Integrated Projects (VIP)]<span style="font-size: 11pt; font-family: Arial; color: rgb(102, 102, 102); background-color: transparent; font-variant-numeric: normal; font-variant-east-asian: normal; vertical-align: baseline; white-space: pre-wrap;">- A program that engages undergraduate and graduate students in multidisciplinary project teams that are led by faculty in many areas of scholarship. Undergraduate students earn credit for their efforts, and have the opportunity to work with teams on different projects.

= ENTREPRENEURSHIP AND INNOVATION CLASSES =

* [http://www.invention.gatech.edu/about/ GT 2803 - “Your Idea, Your Invention"] - This course provides practice-based fundamentals to students interested in invention: ideas and actions that create value and lead to positive change. In this course, invention is considered in the broadest sense. Examples include not only technologies, but the U.S. Constitution, games, manifestos, economic theories, symphonies, and systems like the cloverleaf for traffic control.

* [https://grandchallenges.gatech.edu/content/course-information PUBP 1142 - Teams and Collaboration] - This course works on developing the interpersonal, team, and design thinking skills necessary for making progress against wicked problems.

* [https://grandchallenges.gatech.edu/content/course-information GT 1201 - Exploring Grand Challenges] - The course is comprised of a series of problems that are issued throughout the semester instead of a traditional lecture or lab.

* [http://enrichment.gatech.edu/gt1000/schedule GT 1000 - "Startup" and "Research Innovation"] - This class is for any freshman at GT with an interest in design thinking.

* [https://2110.me.gatech.edu/ ME 2110 Creative Decisions and Design] - This class is specifically more Mechanical Engineering majors with an interest in design thinking.

* [https://id.gatech.edu/our-work/launchpad/make-10 ID 3803 - Make 10] - Students are challenged to design a product for production. They manufacture and sell 10 units of their product.

= FACULTY ENTREPRENEURSHIP =

<span style="font-size: 11pt; font-family: Arial; color: rgb(102, 102, 102); background-color: transparent; font-variant-numeric: normal; font-variant-east-asian: normal; vertical-align: baseline; white-space: pre-wrap;">Georgia Tech has several awards and programs to incentivize faculty to mentor graduate students, or themselves, to pursue innovative research and entrepreneurial ideas. These include:

= University Technology Transfer Functions =

*The Georgia Tech Research Corporation ([https://gtrc.gatech.edu/ <span style="font-size: 11pt; color: rgb(17, 85, 204); background-color: transparent; font-weight: 700; font-variant-numeric: normal; font-variant-east-asian: normal; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">GTRC])— The contracting entity responsible for several of the university’s tech transfer and licensing processes. GTRC also aims to accelerate the formation of robust Georgia Tech spinout companies and broaden participation in entrepreneurship among faculty and students. In addition, GTRC has revised master agreement terms and developed new template agreements to meet the needs of industry sponsors as technologies progress in development.

*Georgia Tech VentureLab— The [https://venturelab.gatech.edu/ <span style="font-size: 11pt; color: rgb(0, 51, 153); background-color: transparent; font-weight: 700; font-variant-numeric: normal; font-variant-east-asian: normal; vertical-align: baseline; white-space: pre-wrap;">Venture Lab]  is a one-stop-shop providing comprehensive assistance to faculty, research staff, and students who want to take their technology innovations from the laboratory to the commercial market. VentureLab specialists help these innovators “start up” by assisting in business plan development, connecting them with experienced entrepreneurs, and locating sources of early-stage financing, including seed grants from the Georgia Research Alliance. The program has fostered, on average, one new spin out each month over the last three years.

*Georgia Tech Edison Fund — The [https://innovate.gatech.edu/front-page/edison-fund-established/ <span style="font-size: 11pt; color: rgb(0, 51, 153); background-color: transparent; font-weight: 700; font-variant-numeric: normal; font-variant-east-asian: normal; vertical-align: baseline; white-space: pre-wrap;">Edison Fund] is a source for modest investments into early-stage technology startups that have a strong connection to Georgia Tech. This fund makes use of targeted charitable contributions from Georgia Tech alumni and friends.

*Flashpoint  — [https://www.cc.gatech.edu/flashpoint-startup-engineering <span style="font-size: 11pt; color: rgb(0, 51, 153); background-color: transparent; font-weight: 700; font-variant-numeric: normal; font-variant-east-asian: normal; vertical-align: baseline; white-space: pre-wrap;">Flashpoint] creates better startups, faster, welcoming committed founders with domain knowledge and a passion for responding to the needs of their customers. Flashpoint helps shape startups with true market + product fit, reduced risks, lower costs, and a better chance of high quality success. Flashpoint is not classified as an incubator or accelerator, but rather a rigorous management and education program that works closely with founders to create companies.

*Advanced Technology Development Center ([https://atdc.org/ <span style="font-size: 11pt; color: rgb(0, 51, 153); background-color: transparent; font-weight: 700; font-variant-numeric: normal; font-variant-east-asian: normal; vertical-align: baseline; white-space: pre-wrap;">ATDC]) - ATDC is a startup incubator at Georgia Tech that helps technology entrepreneurs in Georgia launch and build successful companies. Headquartered in Atlanta's Technology Square, ATDC serves as the hub for technology entrepreneurship in Georgia. ATDC Select is a three-year incubator program for high potential technology companies.

= University-Industry Collaboration =

*University-Industry Demonstration Partnership ([https://uidp.org/ <span style="font-size: 11pt; color: rgb(17, 85, 204); background-color: transparent; font-weight: 700; font-variant-numeric: normal; font-variant-east-asian: normal; text-decoration-line: underline; text-decoration-skip-ink: none; vertical-align: baseline; white-space: pre-wrap;">UIDP])— An activity of the National Academies that works to demonstrate innovative approaches to research engagement and improve relationships with private industry for research and commercialization of inventions. Georgia Tech has been a member and active participant since the UIDP was founded in 2005. The recently published Researcher Guide, a collaborative effort of UIDP university and industry members, provides information for university and company scientists and engineers who wish to engage in sponsored or collaborative research.

= Regional and Local Economic Development =

An economic impact study by the Selig Center for Economic Growth at the University of Georgia’s Terry College of Business indicates that Georgia Tech made a $3.35 billion economic impact during the fiscal year 2018, the highest of any institution in the University System of Georgia (USG). The study also found that Georgia Tech generated 27,065 full- and part-time jobs. Most of the economic impact in the study consists of initial spending by USG institutions for salaries and benefits, supplies and expenses, and other budgeted expenditures, as well as spending by students who attend the institutions.

= Deep-Dive Questions =

*How can Georgia Tech’s focus be shifted to further support innovation and entrepreneurship?

= Conclusion =

The Georgia Institute of Technology is a top-10 public research university and an Association of American Universities (AAU) member school. Jilda Garton’s comments have been instructive in better understanding Georgia Tech’s many entrepreneurship, research, and technology transfer programs, in addition to the impact of the NACIE commitment letter in framing Georgia Tech’s strategic plans and institutional culture.

4Comments By Jilda D. Garton, Vice Provost for Research, General Manager, GTRC and GTARC

</div></div><div>

----

Source: "The Innovative and Entrepreneurial University: Higher Education, Innovation & Entrepreneurship in Focus", Department of Commerce, October 2013.

</div></div>

= Related Links~~ ~~ =

[http://universityinnovation.org/wiki/Georgia_Institute_of_Technology Georgia Institute of Technology]

Jemmassiegel

2022 Cohort

23

edits