This book describes patterns of behavior that collectively allow universities to exchange knowledge more effectively with industry, accelerate innovation and eventually contribute to economic development. These are based on the effective practices of leading and ambitious universities around the world that the authors have benchmarked, and the personal experiences of the authors in a number of international institution building projects, including those of MIT. The authors provide guidance that is globally applicable, but must be locally adapted. The approach is first to describe the context in which universities act as engines of economic development, and then present a set of effective practices in four domains: education, research, innovation, and supporting practices. Each of these domains has three to six practices, and each practice is presented in a similar template, with an abstract, a rationale and description, key actions and one or two mini-case studies. The practices are summarized by integrative case studies. The book: Focuses on a globally adaptable set of effective practices, complemented by case studies, that can enhance universities’ contribution to economic development, based on an integrated view of education, research and innovation; Presents effective practices and broader insights that come from real global experience, spelled out in templates and explained by cases; Includes tangible resources for university leaders, policy makers and funders on how to proceed.

"Academic science in the U.S. once self-consciously avoided the market. But today it is seen as an economic engine that keeps the nation globally competitive. Creating the Market University compares the origins of biotech entrepreneurship, university patenting, and university-industry research centers to show how government decisions shaped by a new argument--that innovation drives the economy-transformed academic science"-- Provided by publisher.

Today, universities around the world find themselves going beyond the traditional roles of research and teaching to drive the development of local economies through collaborations with industry. At a time when regions with universities are seeking best practices among their peers, Shiri M. Breznitz argues against the notion that one university's successful technology transfer model can be easily transported to another. Rather, the impact that a university can have on its local economy must be understood in terms of its idiosyncratic internal mechanisms, as well as the state and regional markets within which it operates. To illustrate her argument, Breznitz undertakes a comparative analysis of two universities, Yale and Cambridge, and the different outcomes of their attempts at technology commercialization in biotech. By contrasting these two universities—their unique policies, organizational structure, institutional culture, and location within distinct national polities—she makes a powerful case for the idea that technology transfer is dependent on highly variable historical and environmental factors. Breznitz highlights key features to weigh and engage in developing future university and economic development policies that are tailor-made for their contexts.

Compares the economic effects of university research in the USA and Japan. Incorporating historical, sociological and industrial perspectives, the book discusses the mechanics of university-industry interactions and how policies encouraging such interactions can address regional/national needs.

This open access book is unique in its contents. No other title in the book market has tackled this important subject. It introduces innovation as a way of practice for world-class universities. It, then, discusses the criteria for being innovative in the academic world. The book selects some of the top innovative world-class universities to study the factors that qualified them to be innovative, so that any other university can follow their steps to become innovative. The final chapter of the book presents some recommendations in this regard.

As a result of the 2008-2010 economic crisis as well as continuing efforts to redevelop and revitalize local economies, public administrators across America are challenged with the task of developing methods to sustain their economies. According to Florida (2002) economic growth today is contingent upon a locality's ability to attract a certain group of people, particularly those of the "creative class". Furthermore, Florida et al., (2006), assert that universities are key contributors to regional development in their ability to attract creative class individuals into a community. Contrary to the assertion that the creative class is a prerequisite for economic growth, researchers argue that additional economic development theories should be examined in comparison to the creative class theory. This study examines the creative class, human capital, social capital, and the institutional intellectual capital theories to determine which is the best predictor for economic growth in nonmetropolitan areas. This study also presents an additional theoretical framework, the community capital approach to provide a multi-dimensional examination of the quality of life and demographic factors that can aid local public administrators in understanding what impacts the economic growth and development of communities. To assess this relationship, a multivariate regression analysis; specifically ordinary least squares regression is used to determine the strength of factors that influence the measurements of economic development. The findings for the creative class theory provide marginal support for the assertion that the presence of the creative class leads to more economic growth. There is also marginal support for the human capital, social capital, and the institutional intellectual capital theories as predictors of economic growth in nonmetropolitan areas. This research suggests that there are two paths that can be pursued by local public administrators to improve their economies. First, local public administrators with access to higher education institutions should focus their efforts on educating their workforce. Secondly, local public administrators from communities not equipped with higher education institutions should direct their strategies towards the community capital approach by creating more green space for parks and trails since these factors can be easily enhanced.

Local, state, and national economies are facing unprecedented levels of international competition. The current fiscal crisis has hampered the ability of many governments in the developed world to directly facilitate economic growth. At the same time, many governments in the developing world are investing significant new resources into local infrastructure and industry development initiatives. At the heart of the current economic transformation lie our colleges and universities. Through their roles in education, innovation, knowledge transfer, and community engagement, these institutions are working toward spurring economic growth and prosperity. This book brings together leading scholars from a variety of disciplines to assess how universities and colleges exert impact on economic growth. The contributors consider various methodologies, metrics, and data sources that may be used to gauge the performance of diverse higher education institutions in improving economic outcomes in the United States and around the world. Also presented are new typologies of economic development activities and related state policies that are designed to improve understanding of such initiatives and generate new energy and focus for an international community of scholars and practitioners working to formulate new models for how public universities and colleges may lead economic development in their states and communities while still performing their traditional educational functions. Universities and Colleges as Economic Drivers is meant to cultivate greater understanding among elected officials, business representatives, policymakers, and other concerned parties about the central roles universities and colleges play in national, state, and local economies.