Georgia’s research colleges have a story to share about how they can boost the state’s economy, and they started telling it Monday.
One part of the University System of Georgia’s message is well-known: the schools drive economic development by graduating an educated and skilled workforce. But Chancellor Hank Huckaby organized a forum to focus on a different strength – professors producing research that can lure companies to the state and develop new businesses and products.
The forum highlighted research that was successfully commercialized, including telemedicine devices that address rural health needs and better body armor to protect the U.S. military.
College and business leaders also discussed what the system can do to improve and spur even more development.
Chris Cummiskey, the state’s economic development commissioner, called on the colleges to better communicate the innovation happening on their campuses. This information is crucial as Georgia moves away from just manufacturing jobs to knowledge-based innovation, he said.
The goal is to foster start-up companies, help them grow and then keep students in Georgia when they graduate.
“The growth of our future is going to be in the innovation jobs,” Cummiskey said. “Help us figure out what we can do as a state to nurture those people.”
Other states – including Ohio and Tennessee – are discussing how college research can lead to more economic growth as the nation rebounds from the recession. Federal agencies that support much of this research have also put more emphasis on commercialization.
There are two main way to get the research into the marketplace — create start-ups or license the innovation to existing companies.
During the summit, several entrepreneurs and researchers traded business cards and made plans to discuss how they could work together. Such collaboration has already spurred results.
Suniva, a Norcross-based company involved in the solar industry, spun out of research from Georgia Tech’s electrical engineering department.
VaxyGen, a biotech firm, is using Georgia State research that allows for vaccines to be produced more rapidly and efficiently. As part of an agreement with the Georgia State University Research Foundation, the company has access to the expertise of the scientists who developed the work.
Georgia’s summit is one of series of initiatives to spur economic development. The system is working to meet the goals of Gov. Nathan Deal’s Complete College Georgia initiative, which says economic survival depends on more adults earning some type of certificate or degree. Projections show about 60 percent of all jobs will require education after high school by 2020, but only 42 percent of Georgia’s adults currently meet this requirement.
More than 200 people attended the summit, including several lawmakers. The legislative session starts next month and lawmakers will decide how much taxpayer money public colleges receive.
Huckaby said “ideally we would like to have more” financial resources and assured lawmakers the system will use what money it receives as “effectively and efficiently” as possible.
“We are poised to do great things,” Huckaby said. “But we are not going to pull it off unless we all do it together.”
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