What is the importance and status of “tech transfer” in Arizona?
“Tech transfer,” the process of turning university research into commercial products, is crucial for Arizona’s economic development. One key area of tech transfer is the ability for universities to invest in businesses spun off of research done by their own faculty members. University investment provides initial capital to businesses trying to get off the ground, and, if the business is successful, it also generates revenue for the university. For example, newspaper reports suggest Stanford University could make $250 million from its investment in Google. However, in Arizona this cannot easily or fully happen until voters approve a constitutional amendment. In November 2004, voters narrowly defeated a ballot initiative to allow Arizona universities to take an equity position in businesses that spin out of university research. Proponents of the amendment hope it will make it back on the ballot in the future.
*Sadly, we had to bring back ads too. Hopefully more targeted.