The retreat, titled "Venture Creation at Research Universities: New Concepts," was held on Cape Cod in October. The 32 participants -- university administrators and technology licensing specialists, venture capitalists and faculty-turned-entrepreneur -- spent the two days sharing lessons learned and brainstorming how to foster university involvement in spawning and assisting business start-ups.
In the past, most universities have actively discouraged faculty entrepreneurial activities. Times may be changing, however. "There's a growing realization that this is an activity whose time has come," says Edward Wolf, professor emeritus of electrical engineering and COTABA director. "There's more awareness about what Cornell can do as a $300 million research university, locally, re gionally and nationally." COTABA, headed by Wolf and program director Marjorie Zack, is a two-year pilot project created in January 1995 to spur entrepreneurial technology transfer on campus.
The think tank's approach to the subject was a "first," said David BenDaniel, the Don and Margi Berens Professor of Entrepreneurship at the Johnson School. "The university's role in technology transfer has been discussed microscopically in the past -- focusing on the technicalities of technology transfer, royalty agreements and avoiding conflict of interest. This was the first time that technology transfer and venture creation was discussed as a legitimate and important role for research universities, one that when properly managed is in the best interest of society as a whole."
Think tank participants examined three key issues: understanding the culture of research universities to help transfer technology to start-up ventures, creating organizational structures at universities to promote such activities, and linking with for -profit organizations to enhance the success of new business start-ups. By the end of the two days, they had generated a range of recommendations, some easily imple mented, many requiring a major shift in how their colleagues on campus view faculty entrepreneurial activity.
For example, one caucus suggested new rules that would enable professors to take special leaves of absence to help start ventures, work on them for a significant period of time, and then return to the university without damage to their academic stand
ings. Another group proposed that universities create alumni venture capital funds to help fill the large gap between where research funding leaves off and traditional venture capital firms are ready to move in.
Think tank proceedings were published in the November 1995 issue of Technology Access Reports. A summary of the discussions, written by BenDaniel, also is available. Both can be obtained from COTABA, 255-4993.
On March 15, COTABA will sponsor a meeting titled "Growing Opportunities for Research Commercialization." More than 100 Cornell administrators and faculty have been invited. President Hunter Rawlings, Vice President Norman Scott and three faculty -entrepreneurs will speak, as will Mary Walshok, think tank participant and author of the recently published Knowledge Without Boundaries: What America's Research Universities Can Do for the Economy, the Workplace and the Community.