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Honorable Jerry MacArthur HultinPresident
© Polytechnic Institute of NYU, 2008
The University’s Role in Economic Growth:
Creating an Innovation Economy… and Society
150 YEARS OF POLYTHINKING
WHO “INTEGRATED CIRCUITS”INTO MAINSTREAMTECHNOLOGY?WE DID
Setting the Stage
• NYC -- is seeking to be a global center of innovation
• Polytechnic Institute -- has 150 years of history marked with discovery and innovation
150 YEARS OF POLYTHINKING
WHO “INTEGRATED CIRCUITS”INTO MAINSTREAMTECHNOLOGY?WE DID
Setting the Stage
• NYC -- is seeking to be a global center of innovation
• Polytechnic Institute -- has 150 years of history marked with discovery and innovation
• NYU -- Our merger with New York University brings us a global partner
• Values -- My life has been committed to technology in creating a better world
150 YEARS OF POLYTHINKING
WHO TURNED CELLPHONESINTO LIFE LINES?WE DID
Universities should support innovators
• Education
• Research
• Technology transfer
• Entrepreneurial mesh
• Cultural capital
150 YEARS OF POLYTHINKING
WHO MADE BULLS ANDBEARS RUN BETTER?WE DID
S&T Helps Innovation Happen
• S&T system and investments in Research & Development are central to innovative success
• Readily available S&T talent is a must in an innovative economy
• Knowledge economy and service economy require a new direction for S&T and R&D
150 YEARS OF POLYTHINKING
WHO BROUGHTTHE WORLD CLOSERFROM A DISTANCE?WE DID
We need to be more innovative!
• Faster growth of S&T– If S&T stagnates, innovation suffers
• Make innovation a priority – Significantly raise the levels of R&D
investment, invention, and innovation
• Challenge universities to be more innovative– Increase the innovative and
entrepreneurial activity of all universities
150 YEARS OF POLYTHINKING
WHO “INTEGRATED CIRCUITS”INTO MAINSTREAMTECHNOLOGY?WE DID
Four places to look1. Universities and economic
development– Lester’s (MIT, 2005) study on university
role in local economic development2. Innovative readiness
– ITIF’s indicators of readiness for innovation and competitiveness
3. Governors in the United States – Building bridges between universities
and corporations4. Creating an innovation society
– It’s no longer linear – A collaborative mesh that breeds
invention, innovation, and entrepreneurship (i2e),
150 YEARS OF POLYTHINKING
WHO TURNED CELLPHONESINTO LIFE LINES?WE DID
Universities, innovation, and local economies
• The ‘Standard Model’ is based on technology transfer through patenting and licensing of IP to local firms
• But universities have an even bigger role: – Teaching innovation and risk– Research with the market in mind – Technology transfer that builds firms– Creating “Idea capitals” that attract talent
and spur creativity
150 YEARS OF POLYTHINKING
WHO MADE BULLS ANDBEARS RUN BETTER?WE DID
This new role requires industry to change
• What kind of change? – Upgrading of mature industry – Industry transplantation– Diversification into new but related
industries– Indigenous creation of new
industries
• Everyone does not buy-in”– Difficult to measure secondary
benefits of universities
150 YEARS OF POLYTHINKING
WHO WORKEDMIRACLES TO PRODUCETHE MIRACLE DRUG?WE DID
Innovate in the domestic economy
• Do not focus solely on trade– Many countries under-value innovation in
the non-traded sectors of their economy
• A over-looked opportunity– Productivity gains in the domestic economy
will increase innovation, economic wealth, and global competitiveness
• Increase the focus on services– Services make up a major portion of a
nation’s GDP and are a major source of employment – and they facilitate trade
150 YEARS OF POLYTHINKING
WHO WORKEDMIRACLES TO PRODUCETHE MIRACLE DRUG?WE DID
Services dominate and knowledge is key
• Global access is equal for all countries– All transactions are global and
instantaneous
• The “post-scientific society” *– Work structures and organizational
practices dominate the 21st century* Christopher Hill 2007
150 YEARS OF POLYTHINKING
WHO “INTEGRATED CIRCUITS”INTO MAINSTREAMTECHNOLOGY?WE DID
• Dynamic markets• Global competition• Networked organizations• Flexible production• Ideas and innovation are
key factors of production• Broad and changing skills • Risky, not stable
employment
21st Century has new measures
ITIF Report, 2007
150 YEARS OF POLYTHINKING
WHO BROUGHTTHE WORLD CLOSERFROM A DISTANCE?WE DID
ITIF Strategies for the New Economy
• Align incentives with innovation economy fundamentals
• Co-invest in an innovation infrastructure
• Co-invest in the skills of the workforce
• Cultivate entrepreneurship
• Support industry clusters
150 YEARS OF POLYTHINKING
WHO BROUGHTTHE WORLD CLOSERFROM A DISTANCE?WE DID
ITIF Strategies for the New Economy
• Reduce business costs without reducing the standard of living
• Boost productivity
• Reorganize economic development efforts
• Enlist federal help
150 YEARS OF POLYTHINKING
WHO TURNED CELLPHONESINTO LIFE LINES?WE DID
What do Governor’s in the United States do?
• Facilitate regional innovative activity
• Invest in high-return economic activities and knowledge-intensive production
• Make education a core investment
• Focus on – Science– Business policies– Tax reforms– Industry clustering
150 YEARS OF POLYTHINKING
WHO MADE BULLS ANDBEARS RUN BETTER?WE DID
The Case for Innovation in Ohio• Tax reform, technology research,
and higher education • Creating professional, health and
education jobs• Aggressive investment strategy
aimed at: – Research grants– Higher education and scholarship in
high-tech– Advanced materials – Bioscience– Advanced energy and aerospace
industries
150 YEARS OF POLYTHINKING
WHO WORKEDMIRACLES TO PRODUCETHE MIRACLE DRUG?WE DID
An ecosystem for innovation
• Create an innovation mesh– Silicon Valley– Boston– Philadelphia
• Collaboration– Break down the silos everywhere
• Teach and practice i2e
Higher Education
High Schools
Big Research Large
Corporations
UniversityResearch
InnovationInnovation InfrastructureInfrastructure
Polytechnic is here
Funding Sources
(M&A, venture, angel)
Higher Education
High Schools
Big Research
Science andTechnology
Entrepreneurs
Large Corporations
UniversityResearch
InnovationInnovation InfrastructureInfrastructure
EntrepreneurshipEntrepreneurship InfrastructureInfrastructure
Polytechnic is here
… often here …
IncreasedInnovative Interactions
Funding Sources
(M&A, venture, angel)
Higher Education
High Schools
Big Research
Cultural Entrepreneurs
Science andTechnology
Entrepreneurs
Large Corporations
Small Businesses
UniversityResearch
InnovationInnovation InfrastructureInfrastructure
EntrepreneurshipEntrepreneurship InfrastructureInfrastructure
Polytechnic is here
… often here …
… and expanding here.
150 YEARS OF POLYTHINKING
WHO “INTEGRATED CIRCUITS”INTO MAINSTREAMTECHNOLOGY?WE DID
Making i2e the heart of education• Education – learning to discover,
design, and create products and services
• Research – focusing on areas that will impact technology, companies, and economies
• Technology transfer – incubators, venture funds, industry consortiums, licenses that improve the economy and teach students
• Economic development – an economic system that cultivates risk taking, accepts failures, and engages the community in jobs and opportunity
150 YEARS OF POLYTHINKING
WHO “INTEGRATED CIRCUITS”INTO MAINSTREAMTECHNOLOGY?WE DID
i2e and t
• Adding breadth to depth in all technical education
• Universities encouraged to educate T-students
• Companies encouraged to seek “T” graduates
• Cities encouraged to be “idea capitals” that attract and retain T-citizens
150 YEARS OF POLYTHINKING
WHO BROUGHTTHE WORLD CLOSERFROM A DISTANCE?WE DID
Polytechnic’s i2e priorities
• Information Technology– Center for Advanced Technology in Telecommunications
(CATT)– Institute for Mathematics and Advance Supercomputing
(IMAS)– Wireless Internet Center for Advanced Technology (WICAT)
• Health and Wellness– Cooperative Bio-Active System (C-BAS)– Center for Biocatalysis & Bio Processing of
Macromolecules – Center for Drug Delivery Research (CDDR)
• Urban Sustainability– Center of Innovation and Urban Sustainability– Urban Security Initiative– Urban Utility Center
150 YEARS OF POLYTHINKING
WHO WORKEDMIRACLES TO PRODUCETHE MIRACLE DRUG?WE DID
What this means for the future
• All of the conventional rules are still true– Liberal arts education that includes
science, math and technology– Increased science and technology
research in universities– Greater understanding of risk,
failure, and opportunity in the economy … and society
– Global awareness and global standards
150 YEARS OF POLYTHINKING
WHO “INTEGRATED CIRCUITS”INTO MAINSTREAMTECHNOLOGY?WE DID
1. Education embedded with i2e
2. S&T and R&D intensely directed focused on the needs and advancement of the economy … and society
3. Technology transfer that provides a laboratory for students to understand i2e
What I am proposing is much more
150 YEARS OF POLYTHINKING
WHO “INTEGRATED CIRCUITS”INTO MAINSTREAMTECHNOLOGY?WE DID
4. A commitment by universities to create companies, jobs and opportunities
5. Innovation in the services sector of the economy
6. Becoming an “idea capital” with ICE
150 YEARS OF POLYTHINKING
WHO WORKEDMIRACLES TO PRODUCETHE MIRACLE DRUG?WE DID
Last night, as I was sleeping,
I dreamt -- marvelous error!
That I had a beehiveHere inside my heart.And the golden beesWere making white
combsAnd sweet honey
From my old failures.Antonio Machado
YOUR QUESTIONS AND IDEAS
THANK YOU
