In 2017, the technology transfer functions of the Indiana University Research and Technology Corporation (IURTC) were transferred into IU’s Office of the Vice President for Research. Patenting activity well exceeded targets set in 2015 with, on average, over 300 patents applied for per year over the 2015–19 period, and over 160 patents issued per year, on average, over the same period.
Widely shared prosperity in Indiana depends on IU’s statewide contribution to educating its workforce, and in nurturing the next generation of IU entrepreneurs, turning the innovations and advances of student and faculty researchers and inventors into valuable, marketable products, ideas, and companies. With the technology transfer aspects of IURTC transferred into the Office of the Vice President for Research, in 2019 IURTC was rebranded as IU Ventures, to better reflect its enhanced mission and focus in direct support of IU-affiliated entrepreneurship. IU Ventures provides the necessary ecosystem to build a pervasive entrepreneurial culture throughout IU and provide the support for high potential, IU-affiliated startups through the engagement with industry collaborators to accelerate new venture opportunities, ensuring that IU is engaged with its communities in all regions and working to build a prosperous and innovative Indiana for future generations.
Some of the accomplishments of IU Ventures in its first year include:
- Developed and launched comprehensive and interactive IU Statewide Impact website that visually illustrates IU’s significant economic impact across all 92 counties. Demonstrated the capabilities of the new website to the IU Board of Trustees in a favorably received presentation. The University of Michigan and the University of Georgia have implemented similar websites following the launch of IU’s website.
- In 2019 thus far, the Regional Economic Development (RED) Fund of the IU Council for Regional Engagement and Economic Development (CREED) awarded 11 grants totaling over $25,000 to IU’s Regional Campuses in support of economic development–related initiatives. These totals are on pace to surpass 2018’s records for both number of awards and total amount of grants.
- IU Ventures launched the new Philanthropic Venture Fund and created the new Angel Ventures.
- Nominated the IU Center for Rural Engagement for the University Economic Development Association Award of Excellence in the Place category. CRE was selected as one of four finalists and chosen as the award winner, representing IU’s first-ever UEDA award.
- Held fourth annual Education-to-Employment (E2E) Convergence Summit convening leaders from business, industry, government, and higher education to build dialogue focusing on how to help facilitate the successful transition of students into the workforce. Created and implemented Sustaining Talent, Engaging Partners (STEP) grant program enabling regional campuses to strengthen career services programs.
- Enabled through a two-year $3 million grant from Lilly Endowment Inc., Indiana Data Partnership (IDP) represents a groundbreaking approach between the State of Indiana’s Management Performance Hub (MPH) and IU to develop an integrated, scalable, and collaborative decision-support framework designed to increase the availability and utility of data shared among state agencies, local governments, and nonprofit organizations that serve vital public needs. Initial issue focus areas for IDP included the opioid crisis and workforce development. Served as a central coordinating point in working with the three IU centers subcontracting with MPH: IU Public Policy Institute, Indiana Business Research Center, and The Polis Center.
- Led a consortium of partners (Purdue, Notre Dame, Crane, SAIC, and the governor’s office) to advocate for the establishment of a Joint Hypersonics Transition Office (JHTO) and an affiliated University Hypersonics Research Consortium, both to be located in Indiana. This work secured $85 million in the FY20 House DOD Appropriations bill and statutory language in the House FY20 National Defense Authorization Act. Once the bills are enacted, the JHTO team will submit a proposal for carrying out the work in Indiana.
- Collaborated to continue advancing IU’s military medicine engagements that resulted in the House FY20 DOD Appropriations bill to include $10 million to continue a program focused on Hearing Restoration Research, which IU helped to establish. The legislation also includes language in support of the NCAA-DOD CARE Consortium, a longitudinal study on TBI/concussion in athletes and cadets. The CARE Consortium is led by Tom McAllister at the IU School of Medicine