Last week, APLU and the Association of American Universities (AAU) hosted the 3rd annual University Innovation and Entrepreneurship Showcase virtually. The showcase spotlighted 22 startup companies from across the nation that have created products and services using federally funded, university-based research.
The virtual event highlighted the important role of federal funding for university-based research in driving high-value entrepreneurship and the American innovation economy. The event – in previous years held in person, but this year held online – targeted members of Congress, their staffs, and national leaders in economic development and innovation policy.
National Institute of Standards and Technology Director Walter Conan, Representative Steve Stivers (R-OH), Representative Eddie Bernice Johnson (D-TX), APLU President Peter McPherson, and AAU President Barbara R. Snyder all offered remarks on the role research universities play in driving innovation, improving quality of life, and advancing startup and job creation. You can view their remarks via a playlist on the APLU YouTube Account.
In addition, the virtual showcase coincided with the 40th anniversary of the Bayh-Dole Act on Dec. 12. The Bayh-Dole Act significantly increased and accelerated the transfer of federally funded university discoveries to the marketplace. University-based research leads to the formation of thousands of startup companies and commercial products every year.