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=Background=
In April 2010, over 140 leaders from higher education endorsed and submitted a letter to then Commerce Secretary Locke through his National Advisory Council on Innovation and Entrepreneurship (NACIE). They committed to work more closely with industry, private foundations, investors, and local, state, and federal governments to enhance efforts to promote innovation, entrepreneurship, and the commercialization of research results. Underlining their commitment was a willingness to employ strategies, enhance existing activities, and expand efforts in several areas, including:
=Overview—Commercializing Innovative Business Plans=
William Marsh Rice University - commonly referred to as Rice University or just Rice - is a private research university located in Houston, Texas. Since its establishment in 1912, Rice has grown into a highly regarded research university with an expanding entrepreneurship program.
*Teams compete for three cash prizes totaling $8,750
*The grand prize is $5,000 in cash. More than 25 judges from the Houston business and investment community evaluate the business plan presentations.
<br />In 2011 '''the Rice Alliance''' awarded prizes to all eight engineering and science graduate students and post-doctoral fellows who presented a four-minute pitch on their research findings and commercial applications for promising nanotechnology research at Rice University.
'''The Rice University Business Plan Competition '''(RBPC) is the World’s Richest and Largest (according to Rice), awarding more than $1.3 million in prizes; Over 133 past competitors are in business today having raised in excess of $394 million.
*The idea is simple: start tech companies over the course of three days
=Faculty Entrepreneurship=
'''Faculty Advisory Committee''' is one of the internal advisory bodies of the Rice Alliance for Technology and Entrepreneurship (Rice Alliance), a nationally-recognized initiative devoted to the support of technology commercialization, entrepreneurship education, and the launch of technology companies.
*The OTT facilitates the interaction between academia and industry, so that science may be transformed into technology.
<br />'''The Rice Alliance for Technology and Entrepreneurship''' (Rice Alliance) is Rice University’s nationally-recognized initiative devoted to the support of technology commercialization, entrepreneurship education, and the launch of technology companies. It was formed as a strategic alliance of three schools: the George R. Brown School of Engineering, the Wiess School of Natural Sciences and the Jesse H. Jones Graduate School of Business in collaboration with the Vice Provost and the Office of Research.
*Since its inception in 2000, the Rice Alliance has assisted in the launch of more than 250 start-ups which have raised more than half a billion dollars in early-stage capital
*The program is designed to promote truly excellent, collaborative, and interdisciplinary research among investigators at the three institutions
*The program focuses on junior investigators who have not yet established funding as well as experienced investigators who are new to collaboration among the three institutions
<br />Rice's '''Richard E. Smalley Institute for Nanoscale Science and Technology''' has on-going research collaboration with '''nanoAlberta''', part of '''Alberta Advanced Education and Technology''' in Canada, to address issues surrounding the production of petrochemicals from Alberta's oil sands, one of the world's largest reserves of recoverable oil.
'''Rice University '''is also one of'''Texas Instrument’s''' primary academic partners for research in embedded processing. Rice's digital signal processing (DSP) researchers recently won a new, three-year $1 million grant under the program.
=Regional and Local Economic Development=
'''Rice 360°''' draws on the diverse experience of faculty from the Jones School of Management, the Baker Institute of Public Policy, and the Schools of Social Sciences, Humanities, Natural Sciences, and Engineering to determine how to make technologies available, meaningful, and useful to people around the world. These technologies include a '''low-cost incubator''' designed Rice students that is with phototherapy lights based on the Blantyre Hot Cot, which has been used in a Malawi hospital now for four years to treat babies with neonatal jaundice.
*Are there any unique successes (and or challenges) you may wish to highlight?
=Conclusion=
Rice University is a leading private research University and an Association of American Universities (AAU) member school. Mr. Brad Burke’s comments have been instructive in better understanding Rice’s various innovative entrepreneurship, research, and technology transfer programs. It also frames the NACIE commitment letter by way of Rice University’s strategic plans and institutional culture.
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Business Plan Competition:
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<br/>Source: "The Innovative and Entrepreneurial University: Higher Education, Innovation & Entrepreneurship in Focus", Department of Commerce, October 2013.
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[[Category: Deep Dives|Deep_Dives]][[Category:Universities]]