STIMULATING THE ILLINOIS ECONOMY: UI RESEARCH

VICE PRESIDENT LARRY SCHOOKDECEMBER 10, 2013

DEFINING ROLES AND OUTCOMES

1. Creating new technologies through discovery research

2. Direct economic impact of externally funded research

3. Increasing the competitiveness of Illinois companies

4. Creating and supporting global businesses and UI startups

5. Providing the human capital to underpin a technology oriented economy

CREATING NEW TECHNOLOGIES THROUGH DISCOVERY RESEARCH (2013)• Patents filed were 378

• Patents issued were 96

• Licenses and options were 96

• Start ups were 11

• Royalties were $25.4M

ECONOMIC IMPACT OF RESEARCH

U of I Research Discoveries

Tech Transfer and Commercialization

Business development and growth

R&D Funding (Demand for

New Innovations)

Business creation

Demand for High Skilled Jobs

Local Tax Revenue

Generation

Illinois Economy is Stimulated

Research drivenEcosystem

RESEARCH FUNDING- DIRECT ECONOMIC GROWTH AND JOB CREATION

$1B annual external research funding is approximately $750M for salaries or 10,000-12,000 high paying technology jobs and income taxes!

University receives

EXTERNAL grant

funding

High-tech jobs are created

Skilled, educated workers

relocate to area

Employees pay taxes

and spend money in the local economy

Economy is stimulated

INCREASING THE COMPETITIVENESS OF ILLINOIS COMPANIES

• EnterpriseWorks o Business incubators offering entrepreneurial support

to startups

• IllinoisVentureso Provides startup capital with >500K follow on funding

o Half of research park companies

• Research Parko Provides access to faculty and students

o Provides access to infrastructure (computing, etc.)

o Provides access I-START, EIR and training programs

CREATING & SUPPORTING GLOBAL BUSINESSES AND UI STARTUPS

UI Research Park

90 companies

1,400 employees

$175M in annual economic impact and almost $15M in annual taxes

5th ranked College of Engineering (US News and World Report); global top ten

2nd ranked institution for number of international students

More STEM grads than all other Illinois public universities combined

400+ companies funded research UI last year involving students

PROVIDING THE HUMAN CAPITAL TO UNDERPIN A TECHNOLOGY ORIENTED ECONOMY (STEM)

• More than 9,000 engineering undergrads enrolled across UI campuses each year – that’s more than Stanford, MIT, Berkeley, and CalTech combined

• Top 3 colleges* in quality of undergraduates by corporate recruiters

• Top 10 most innovative universities shaking up education (Edudemic, 2013)

UI providing tomorrow’s global innovators and technology entrepreneurs

Undergrad Grad Undergrad Grad Undergrad Grad0

1000200030004000500060007000

U.S. Residents International

Urbana-ChampaignEngineering

Electrical/Computer Engineering Computer Science

6763

27581860

473 947 441

CONCLUSION

• UI is a direct economic engine through external funding research

• UI discoveries drive new business development in the state of Illinois

• UI research directly and indirectly increases the competitiveness of Illinois companies

• UI STEM students provide the human capital for Illinois companies to compete