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ERIC Number: EJ1096760
Record Type: Journal
Publication Date: 2005
Pages: 19
Abstractor: As Provided
ISSN: ISSN-1534-6102
Institutions of Higher Education as Engines of Small Business Development
Green, Rodney D.; Venkatachalam, Padma
Journal of Higher Education Outreach and Engagement, v10 n2 p49-67 2005
Universities today exert an ever-increasing stimulus to small business development, contributing to national and local economic development as the general economy becomes increasingly knowledge-based. The transition to a knowledge-based economy, coupled with the passage of the Bayh-Dole Act in 1980, has resulted in stronger university-industry partnerships in technology transfer, promotion of business incubators, and entrepreneurship development. Today, over two-thirds of all licenses and options executed annually by academic institutions are conducted with small businesses; in 2002, academic discoveries led to the formation of 450 companies, and 569 products based on university research were made commercially available. At the local level, about 25 percent of business incubators are sponsored by universities, while institutions of higher education are also emerging as major players in local community revitalization and economic development through funding from federal agencies including HUD, Labor, Commerce, and the SBA.
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Publication Type: Journal Articles; Reports - Descriptive
Education Level: Higher Education; Postsecondary Education
Audience: N/A
Language: English
Sponsor: N/A
Authoring Institution: N/A
Grant or Contract Numbers: N/A