A New American University: The New Gold Standard Next

THE NEW GOLD STANDARD: DESIGN IMPERATIVES OF A NEW AMERICAN UNIVERSITY

DESIGN IMPERATIVE 3: ASU AS ENTREPRENEUR

Research universities are powerful engines for transformation. Not only do universities train new generations of scientists, artists, educators, and leaders in business, industry, and government, university research enables entire industries to emerge and evolve. Research universities offer a considerable return on investment, and bring billions of dollars into their regional economies.

As we move—fiscally, psychologically, emotionally—away from the paradigm that Arizona State University is only an agency of the state government, we must move towards a paradigm that casts the university as an enterprise responsible for its own fate, an enterprise which the state government charters and empowers, and in which it invests.

We must commit ourselves to exploring the entrepreneurial potential of university teaching and research. ASU faculty members engage in path-breaking research, developing new learning tools and new products with commercial application, all of which have the capacity to generate new revenues for the university. ASU must capitalize on its knowledge content and intellectual property, expediting the transfer of knowledge and technology developed in our classrooms and laboratories to the commercial sector.

ASU must aggressively seek new revenue streams, fully exploring the potential of university research to bring a higher return on resources invested by the state. ASU must develop a competitive research infrastructure that draws faculty of national prominence. Leading scholars attract the federal funding that is currently available for research in such areas as the life sciences.

I would like to see ASU develop a reputation for its entrepreneurial boldness. The enterprise imperative must become a part of our culture. But moving from the agency model to an enterprise model will take many years to accomplish. Our approach is to begin immediately by investing in initiatives that help move us in this direction.

 
Examples

Arizona Biodesign Institute at Arizona State University

AZ Biodesign Building

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