The Journal of Emergency Medicine, Vol 10,pp 617-621, 1992
UNIVERSITIES,
Printed in the USA . Copyright 0 1992 Pergamon Press Ltd.
BUSINESS, AND THE STATE GOVERNMENT: PARTNERS IN PROGRESS Richard F. Edlich, MD, Pm
Distinguished Professor of Plastic Surgery and Biomedical Engineering,
INTRODUCTION
century; and the discoveries in theoretical physics in the first half of this century (1). The prospects are keenly positive; never before has the opportunity been so great. The Commonwealth of Virginia would like to position itself in the center of this scientific revolution through unique partnerships between universities, industry, and State government. These partnerships have already been instrumental in devising innovative programs that encourage academic excellence in science. The Eminent Scholars Program, the Center for Innovative Technology, and the Outstanding Teachers Awards provide a fertile environment for scientific scholars in Virginia to make discoveries that improve the quality of life. Their exemplary accomplishments are celebrated by appropriate professional financial support and academic recognition. I will describe these successful programs, hoping that they will be replicated in other States in their efforts to play leadership roles in scientific discoveries.
In the 199Os, the opportunities in biomedical research place mankind on the threshold of a new era. Revolutionary advances in genetics at the molecular level, originally developed in simple bacteria and their viruses, have produced powerful new technologies that make possible the discovery of the causes and cures of most human diseases. Today, there is the prospect of unparalleled progress in the understanding of human diseases at the molecular level and in developing innovative strategies for their prevention and treatment. While a decade ago it seemed unlikely that scientists would be able to understand the molecular pathogenesis of cystic fibrosis, Duchenne’s dystrophy, or neurofibromatosis, each of these genetic diseases has yielded to this new molecular biology. The abnormal genes involved have been identified and there are promising experiments under way to evaluate rational treatments. It is exciting to realize that the time has come when scientists will be able to analyze each of the genes that make up the human body. Scientists are at the very brink of discovering how genes direct or influence human development and characteristics, from physical traits to intellectual endowment, to diseases. This scientific revolution has been compared to other great periods of intellectual and creative accomplishments; the periods dominated by Michelangelo and other great artists of the Renaissance; the music of Beethoven, Bach, and Mozart in the 18th
EMINENT SCHOLARS PROGRAM Virginia has long recognized that the keystone of our biomedical research programs is the scientists, who must be encouraged to remain in our Universities searching for revolutionary scientific advances. Under the leadership of Governor Albertis S. Harrison, Jr, the General Assembly established the Eminent Scholars Program in 1964. Under this program, faculty may receive special salary supplements funded from endowment income and matching general fund appropriations. The amount of the supplement is determined by the institution, subject to the availability of qualifying endowment income and general fund appropriations. The supplements are intended to be
This report is dedicated to the graduating medical school class of 1994 of the University of Virginia School of Medicine. RECEIVED:
University of Virginia School of Medicine, Charlottesville, Virginia
9 May 1991; ACCEPTED: 30 May 1991
0736-4679/92 $5.00 + .OO 617
618
incremental to the regular annual salary of the faculty member and are not to be used in lieu of base salaries. The faculty member’s annual salary is established in accordance with the institution’s own salary standards. The selection of eminent scholars will be influenced by the unique characteristics and missions of the institutions. Within this broad framework, the criteria for the appointment of an eminent scholar are: The appointee shall hold the rank of associate or full professor. The appointee shall be a person who has achieved national eminence in a discipline as judged by the person’s peers. Eminence shall be judged on evidence of effective teaching and productive scholarship. Eminent Scholars will hold full-time faculty positions . In 1983, the Eminent Scholars State appropriations were $1,059,495. The appropriations more than tripled in 1990, with $5,000,800 being allocated for this program. I can attest enthusiastically to the value of the Eminent Scholars Program in my own academic career. When I was appointed an Eminent Scholar in 1982, I was especially grateful for this recognition of my scholarship and teaching by my peers. In addition, the generous supplement to my salary from this Program silenced any consideration of a more lucrative career in private practice. In addition, my Endowed Chair has always been an important consideration in my decision to remain at the University of Virginia’s academic village during my 20-year teaching career. Appreciating the significant impact of the Eminent Scholars Program on my own academic career, I have successfully enlisted the support of benefactors to establish three separate endowed chairs for basic scientists (Endowed Chair for Plastic Surgical Research, Endowed Chair for Retrovirology Research in Multiple Sclerosis, Endowed Chair for Retrovirology Research in Oncology). Universities appear to have an environment that would encourage entrepreneurship, especially for technology-based companies. The University has the resources to parent new ventures; faculty dedicated to advancing knowledge in key scientific, engineering, and management areas; highly skilled and motivated students, who can be employed at a relatively low cost; many well-equipped laboratories with easy access to computers; and libraries. Little doubt exists
Richard F. Edlich
that Universities can play a significant role in technology-based start-up. A recent study confirms that a number of faculty are ready to commercialize their research by starting a firm (2). If Universities do not provide the flexibility needed to venture into business, faculty will be tempted to go to institutions that are more responsive to their needs; this “brain-drain” belatedly gets the attention of the University. Consequently, many Universities need to rethink their conflict of interests and incentive policies, becoming more flexible and responsive to faculty entrepreneurs. Universities have other good reasons to support faculty entrepreneurs. Innovative universities are looking at these ventures as new markets for research that may gradually substitute for declining enrollments. Because entrepreneurs are often able and likely to give generously to their alma mater, Universities should also welcome the advice and support of these benefactors. Federal regulations established four years ago gave universities far greater rights to profit from the fruits of federally funded research (3). These regulations governing federally supported research usually permit research institutions to retain legal title to scientific data. Having legal title means that the institution has all rights of an owner. It can patent, establish copyright, license, and control dissemination and use of the data. The principle of ownership of original primary research data resides in the employing institution, rather than in the employer or faculty member. These Federal Regulations have paved the way for the opportunity to commercialize intellectual properties developed at Virginia universities.
CENTER FOR INNOVATIVE TECHNOLOGY Virginia has made a major commitment to commercialize intellectual property. Its Center for Innovative Technology (CIT) was created in 1984, evolving from a special task force on Science and Technology established by Governor Charles Robb, who saw the potential for a center that functions in a special way to promote educational and economic development initiatives. The CIT provides the leadership to develop and use technology for a brighter future. Working with the educational institutions in the Commonwealth of Virginia, it brings the tools of technology from concept to reality. It creates mechanisms to move technology from the laboratory to the market place. The new CIT Building itself (Figure 1) is a symbol of Virginia’s bold commitment to be a leading tech-
Partners in Progress
Figure 1. Center for Innovative Technology.
nology State. Beyond housing the CIT staff, the building serves as a focal point for the State’s technological initiatives and as a meeting place where technology leaders and experts discuss the latest technological advances. Built near the Dulles International Airport, the complex includes the CIT tower, the Software Productivity Consortium, a 125seat auditorium, meeting rooms for seminars, a cafeteria, and a three-story parking garage. Industry and education groups come from around the State, the nation, and the world to discuss technological issues, attend seminars, and hold conferences. The unique architectural design of CIT emerged from a national design competition coordinated through the College of Architectural and Urban Studies at Virginia Polytechnic Institute. A composition of sculptural forms conveying a sense of motion, this complex embodies the spirit of CIT, a new venture created to move ideas forward from the laboratory to the market place. The Commonwealth of Virginia has taken this initiative seriously, supporting
619
CIT with a biennial budget of approximately $20 million. During the past 20 months, the CIT has received 141 invention disclosures, filed 35 patent applications, received 20 patents, and concluded 15 license agreements. This level of commercialization of intellectual property is more activity than occurred within the entire Virginia University system in a comparable 20-month period during 1986 and 1987. One creative approach used by the CIT is to require, as part of the compensation for licensing technology, that additional applied research be done at the University producing the technology. Consequently, over $2 million of additional research funding has been committed through the vehicle of CIT license agreements. The Commonwealth of Virginia was ranked 1lth among States in 1990 issuing patents from its universities. This level of productivity is an improvement from a prior ranking of 28th in 1987. CIT has successfully licensed technology having direct economic benefit for the Commonwealth of Virginia in a number of fields, including biomolecular research, physiologic monitoring systems, electronic displays, and computers for the handicapped. This increased activity can be credited to CIT’s efforts to stimulate and encourage the faculty at universities to become involved in the intellectual property process. CIT has licensed technologies from five universities: Virginia Polytechnical Institute, University of Virginia, Old Dominion University, Virginia Commonwealth University, and James Madison University. It also received disclosures and marketable inventions from George Mason University, Virginia Military Institute, The College of William & Mary, and the Medical College of Hampton Roads. In the last State General Assembly session, through the efforts of the CIT and the universities together, the Virginia Conflict-of-Interests Statute was amended to allow universities to implement policies at the university level, thus accelerating the commercialization of inventions created in their laboratories. The new statute has three requirements. First, any university seeking relief from the Virginia Conflict-of-Interests laws must draft its own policies and regulations with respect to the commercialization of intellectual property. Second, the policies of each university must be approved by the State Council of Higher Education. Third, whatever commercial relationships are formed pursuant to such university regulations must be disclosed in accordance with the sunshine provisions of Virginia’s Conflict-ofInterests Statute. It will come as no surprise that other states and universities are devising innovative strategies for
Richard F. Edlich
620
commercialization of intellectual property. For example, its Southwestern Medical Center helped establish the Dallas Biomedical Corporation as a private for-profit company with $12.5 million in equity from Southwest Enterprise Associates, a Dallas venture capital firm, and Dallas investors. The Southwestern Medical Center retains a stake in the company. Johns Hopkins University and the Johns Hopkins Health Care Systems established an independent forprofit technology development enterprise, Dome Corp., in 1984. Dome’s mission was to enhance the long-term financial strength of the University and health care system by developing real estate and new businesses. In the area of real estate, Dome Corporation’s largest project is the Hopkins Bayview Research Campus, a 130-acre center for research in the life sciences. Dome’s partner in infrastructure development is the city of Baltimore, through its quasipublic development arm, the Baltimore Economic Development Corporation. In the area of business development, the Dome Corp. functions as a holding company for three for-profit businesses and as a joint venture partner for the ,fourth.
ates preparing for academic careers. As a recipient of the Outstanding Teacher Award in 1989, I was deeply impressed by the academic achievements of the 12 other recipients of the Award and proud to be a faculty member in Virginia’s higher educational system. Each recipient of the Outstanding Teacher Award receives a sculpture by the talented artist, Kent F. Ipsen, who is Professor of Art at the Virginia Commonwealth University. He was commissioned by the State Council of Higher Education to design a sculpture that celebrated this partnership between teaching, business, and government. His sculpture appropriately has a trefoil configuration that extends from the base of the sculpture (Figure 2). The sculpture is made of a lead crystal glass produced by a scire perdue process. As light reflects from its surface, the viewer is reminded that this joint partnership between teaching, business, and government should allow the teacher through his students to inherit eternity. While Virginia has made great strides in biomedi-
OUTSTANDING TEACHING AWARD In collaboration with business, our State government celebrates the accomplishments of its teachers through its Outstanding Teacher Awards. The Council of Higher Education’s Outstanding Faculty Awards Program was established in 1985 to recognize the excellence of Virginia’s public and private college and university faculties. This program was championed by Stanley F. Harrison, the Chairman of the Council for Higher Education, who enlisted the help of Governor Charles Robb to establish the program. In each year of the past five years, 13 outstanding faculty members have been honored for contributions made to their students, to their academic disciplines, and to the public. Using State funds, the Council of Higher Education makes a cash award of $5,000 to each of the outstanding faculty members. The business community then sponsors the annual Awards banquet to recognize the 13 honorees. The recipients of the awards are selected from 12,308 faculty members of the 105 State-supported institutions and 2,498 faculty members of the 55 private institutions. A keynote address by the Governor of the Commonwealth of Virginia is one of the highlights of the evening. Using additional private funding from business, the Council of Higher Education also provides $5,000 awards to 13 outstanding gradu-
Figure 2. Trefoil configuration of the Outstanding Teacher Award eculpture.
Partners in Progress
621
cal research, it cannot rest on its laurels. Virginia must take additional steps to maintain its leadership role in academic excellence. First, its universities should educate all faculty and researchers concerning the opportunity to commercialize technologies. Second, university presidents and top administrative officials should support the commercialization of technologies produced at the universities. Third, the universities should provide incentives to researchers and faculty by giving them a substantial percentage of royalties from any licensed technology. Fourth, the universities should support researchers and faculty by allocating a significant percentage of university royalties received from commercialization of intellectual properties to the research projects and laboratories that produced the properties. Fifth, the universities should encourage the formation of companies by researchers and faculty members designed to commercialize technologies, as long as these com-
panies remain in compliance with university regulations concerning commercialization. Finally, the universities should work closely with the CIT to promote the commercialization of technologies. The world is entering a new age of technological creativity. In this environment, universities must turn some of their creative energies to addressing the issue of commercialization of their intellectual properties. Our future prospects, indeed, are unlimited; never before have our opportunities been so great. And it is here, in the Commonwealth of Virginia, that we want to position ourselves in the center of this scientific revolution, through a unique partnership between education, business, and government.
research has been supported by a generous gift from the Texaco Philanthropic Foundation, White Plains, New York.
Acknowledgement-My
REFERENCES 1. Martin JB. Training physician-scientists for the 1990’s. Acad Med. 1991;66:123-9. 2. Bird JD, Allen DN. Faculty entrepreneurship in research uni-
versity environments. J Higher Education. 1989;60:583-96. 3. Fishbein EA. Ownership of research data. Acad Med. 1991;66: 129-33.
UNIVERSITIES,
Printed in the USA . Copyright 0 1992 Pergamon Press Ltd.
BUSINESS, AND THE STATE GOVERNMENT: PARTNERS IN PROGRESS Richard F. Edlich, MD, Pm
Distinguished Professor of Plastic Surgery and Biomedical Engineering,
INTRODUCTION
century; and the discoveries in theoretical physics in the first half of this century (1). The prospects are keenly positive; never before has the opportunity been so great. The Commonwealth of Virginia would like to position itself in the center of this scientific revolution through unique partnerships between universities, industry, and State government. These partnerships have already been instrumental in devising innovative programs that encourage academic excellence in science. The Eminent Scholars Program, the Center for Innovative Technology, and the Outstanding Teachers Awards provide a fertile environment for scientific scholars in Virginia to make discoveries that improve the quality of life. Their exemplary accomplishments are celebrated by appropriate professional financial support and academic recognition. I will describe these successful programs, hoping that they will be replicated in other States in their efforts to play leadership roles in scientific discoveries.
In the 199Os, the opportunities in biomedical research place mankind on the threshold of a new era. Revolutionary advances in genetics at the molecular level, originally developed in simple bacteria and their viruses, have produced powerful new technologies that make possible the discovery of the causes and cures of most human diseases. Today, there is the prospect of unparalleled progress in the understanding of human diseases at the molecular level and in developing innovative strategies for their prevention and treatment. While a decade ago it seemed unlikely that scientists would be able to understand the molecular pathogenesis of cystic fibrosis, Duchenne’s dystrophy, or neurofibromatosis, each of these genetic diseases has yielded to this new molecular biology. The abnormal genes involved have been identified and there are promising experiments under way to evaluate rational treatments. It is exciting to realize that the time has come when scientists will be able to analyze each of the genes that make up the human body. Scientists are at the very brink of discovering how genes direct or influence human development and characteristics, from physical traits to intellectual endowment, to diseases. This scientific revolution has been compared to other great periods of intellectual and creative accomplishments; the periods dominated by Michelangelo and other great artists of the Renaissance; the music of Beethoven, Bach, and Mozart in the 18th
EMINENT SCHOLARS PROGRAM Virginia has long recognized that the keystone of our biomedical research programs is the scientists, who must be encouraged to remain in our Universities searching for revolutionary scientific advances. Under the leadership of Governor Albertis S. Harrison, Jr, the General Assembly established the Eminent Scholars Program in 1964. Under this program, faculty may receive special salary supplements funded from endowment income and matching general fund appropriations. The amount of the supplement is determined by the institution, subject to the availability of qualifying endowment income and general fund appropriations. The supplements are intended to be
This report is dedicated to the graduating medical school class of 1994 of the University of Virginia School of Medicine. RECEIVED:
University of Virginia School of Medicine, Charlottesville, Virginia
9 May 1991; ACCEPTED: 30 May 1991
0736-4679/92 $5.00 + .OO 617
618
incremental to the regular annual salary of the faculty member and are not to be used in lieu of base salaries. The faculty member’s annual salary is established in accordance with the institution’s own salary standards. The selection of eminent scholars will be influenced by the unique characteristics and missions of the institutions. Within this broad framework, the criteria for the appointment of an eminent scholar are: The appointee shall hold the rank of associate or full professor. The appointee shall be a person who has achieved national eminence in a discipline as judged by the person’s peers. Eminence shall be judged on evidence of effective teaching and productive scholarship. Eminent Scholars will hold full-time faculty positions . In 1983, the Eminent Scholars State appropriations were $1,059,495. The appropriations more than tripled in 1990, with $5,000,800 being allocated for this program. I can attest enthusiastically to the value of the Eminent Scholars Program in my own academic career. When I was appointed an Eminent Scholar in 1982, I was especially grateful for this recognition of my scholarship and teaching by my peers. In addition, the generous supplement to my salary from this Program silenced any consideration of a more lucrative career in private practice. In addition, my Endowed Chair has always been an important consideration in my decision to remain at the University of Virginia’s academic village during my 20-year teaching career. Appreciating the significant impact of the Eminent Scholars Program on my own academic career, I have successfully enlisted the support of benefactors to establish three separate endowed chairs for basic scientists (Endowed Chair for Plastic Surgical Research, Endowed Chair for Retrovirology Research in Multiple Sclerosis, Endowed Chair for Retrovirology Research in Oncology). Universities appear to have an environment that would encourage entrepreneurship, especially for technology-based companies. The University has the resources to parent new ventures; faculty dedicated to advancing knowledge in key scientific, engineering, and management areas; highly skilled and motivated students, who can be employed at a relatively low cost; many well-equipped laboratories with easy access to computers; and libraries. Little doubt exists
Richard F. Edlich
that Universities can play a significant role in technology-based start-up. A recent study confirms that a number of faculty are ready to commercialize their research by starting a firm (2). If Universities do not provide the flexibility needed to venture into business, faculty will be tempted to go to institutions that are more responsive to their needs; this “brain-drain” belatedly gets the attention of the University. Consequently, many Universities need to rethink their conflict of interests and incentive policies, becoming more flexible and responsive to faculty entrepreneurs. Universities have other good reasons to support faculty entrepreneurs. Innovative universities are looking at these ventures as new markets for research that may gradually substitute for declining enrollments. Because entrepreneurs are often able and likely to give generously to their alma mater, Universities should also welcome the advice and support of these benefactors. Federal regulations established four years ago gave universities far greater rights to profit from the fruits of federally funded research (3). These regulations governing federally supported research usually permit research institutions to retain legal title to scientific data. Having legal title means that the institution has all rights of an owner. It can patent, establish copyright, license, and control dissemination and use of the data. The principle of ownership of original primary research data resides in the employing institution, rather than in the employer or faculty member. These Federal Regulations have paved the way for the opportunity to commercialize intellectual properties developed at Virginia universities.
CENTER FOR INNOVATIVE TECHNOLOGY Virginia has made a major commitment to commercialize intellectual property. Its Center for Innovative Technology (CIT) was created in 1984, evolving from a special task force on Science and Technology established by Governor Charles Robb, who saw the potential for a center that functions in a special way to promote educational and economic development initiatives. The CIT provides the leadership to develop and use technology for a brighter future. Working with the educational institutions in the Commonwealth of Virginia, it brings the tools of technology from concept to reality. It creates mechanisms to move technology from the laboratory to the market place. The new CIT Building itself (Figure 1) is a symbol of Virginia’s bold commitment to be a leading tech-
Partners in Progress
Figure 1. Center for Innovative Technology.
nology State. Beyond housing the CIT staff, the building serves as a focal point for the State’s technological initiatives and as a meeting place where technology leaders and experts discuss the latest technological advances. Built near the Dulles International Airport, the complex includes the CIT tower, the Software Productivity Consortium, a 125seat auditorium, meeting rooms for seminars, a cafeteria, and a three-story parking garage. Industry and education groups come from around the State, the nation, and the world to discuss technological issues, attend seminars, and hold conferences. The unique architectural design of CIT emerged from a national design competition coordinated through the College of Architectural and Urban Studies at Virginia Polytechnic Institute. A composition of sculptural forms conveying a sense of motion, this complex embodies the spirit of CIT, a new venture created to move ideas forward from the laboratory to the market place. The Commonwealth of Virginia has taken this initiative seriously, supporting
619
CIT with a biennial budget of approximately $20 million. During the past 20 months, the CIT has received 141 invention disclosures, filed 35 patent applications, received 20 patents, and concluded 15 license agreements. This level of commercialization of intellectual property is more activity than occurred within the entire Virginia University system in a comparable 20-month period during 1986 and 1987. One creative approach used by the CIT is to require, as part of the compensation for licensing technology, that additional applied research be done at the University producing the technology. Consequently, over $2 million of additional research funding has been committed through the vehicle of CIT license agreements. The Commonwealth of Virginia was ranked 1lth among States in 1990 issuing patents from its universities. This level of productivity is an improvement from a prior ranking of 28th in 1987. CIT has successfully licensed technology having direct economic benefit for the Commonwealth of Virginia in a number of fields, including biomolecular research, physiologic monitoring systems, electronic displays, and computers for the handicapped. This increased activity can be credited to CIT’s efforts to stimulate and encourage the faculty at universities to become involved in the intellectual property process. CIT has licensed technologies from five universities: Virginia Polytechnical Institute, University of Virginia, Old Dominion University, Virginia Commonwealth University, and James Madison University. It also received disclosures and marketable inventions from George Mason University, Virginia Military Institute, The College of William & Mary, and the Medical College of Hampton Roads. In the last State General Assembly session, through the efforts of the CIT and the universities together, the Virginia Conflict-of-Interests Statute was amended to allow universities to implement policies at the university level, thus accelerating the commercialization of inventions created in their laboratories. The new statute has three requirements. First, any university seeking relief from the Virginia Conflict-of-Interests laws must draft its own policies and regulations with respect to the commercialization of intellectual property. Second, the policies of each university must be approved by the State Council of Higher Education. Third, whatever commercial relationships are formed pursuant to such university regulations must be disclosed in accordance with the sunshine provisions of Virginia’s Conflict-ofInterests Statute. It will come as no surprise that other states and universities are devising innovative strategies for
Richard F. Edlich
620
commercialization of intellectual property. For example, its Southwestern Medical Center helped establish the Dallas Biomedical Corporation as a private for-profit company with $12.5 million in equity from Southwest Enterprise Associates, a Dallas venture capital firm, and Dallas investors. The Southwestern Medical Center retains a stake in the company. Johns Hopkins University and the Johns Hopkins Health Care Systems established an independent forprofit technology development enterprise, Dome Corp., in 1984. Dome’s mission was to enhance the long-term financial strength of the University and health care system by developing real estate and new businesses. In the area of real estate, Dome Corporation’s largest project is the Hopkins Bayview Research Campus, a 130-acre center for research in the life sciences. Dome’s partner in infrastructure development is the city of Baltimore, through its quasipublic development arm, the Baltimore Economic Development Corporation. In the area of business development, the Dome Corp. functions as a holding company for three for-profit businesses and as a joint venture partner for the ,fourth.
ates preparing for academic careers. As a recipient of the Outstanding Teacher Award in 1989, I was deeply impressed by the academic achievements of the 12 other recipients of the Award and proud to be a faculty member in Virginia’s higher educational system. Each recipient of the Outstanding Teacher Award receives a sculpture by the talented artist, Kent F. Ipsen, who is Professor of Art at the Virginia Commonwealth University. He was commissioned by the State Council of Higher Education to design a sculpture that celebrated this partnership between teaching, business, and government. His sculpture appropriately has a trefoil configuration that extends from the base of the sculpture (Figure 2). The sculpture is made of a lead crystal glass produced by a scire perdue process. As light reflects from its surface, the viewer is reminded that this joint partnership between teaching, business, and government should allow the teacher through his students to inherit eternity. While Virginia has made great strides in biomedi-
OUTSTANDING TEACHING AWARD In collaboration with business, our State government celebrates the accomplishments of its teachers through its Outstanding Teacher Awards. The Council of Higher Education’s Outstanding Faculty Awards Program was established in 1985 to recognize the excellence of Virginia’s public and private college and university faculties. This program was championed by Stanley F. Harrison, the Chairman of the Council for Higher Education, who enlisted the help of Governor Charles Robb to establish the program. In each year of the past five years, 13 outstanding faculty members have been honored for contributions made to their students, to their academic disciplines, and to the public. Using State funds, the Council of Higher Education makes a cash award of $5,000 to each of the outstanding faculty members. The business community then sponsors the annual Awards banquet to recognize the 13 honorees. The recipients of the awards are selected from 12,308 faculty members of the 105 State-supported institutions and 2,498 faculty members of the 55 private institutions. A keynote address by the Governor of the Commonwealth of Virginia is one of the highlights of the evening. Using additional private funding from business, the Council of Higher Education also provides $5,000 awards to 13 outstanding gradu-
Figure 2. Trefoil configuration of the Outstanding Teacher Award eculpture.
Partners in Progress
621
cal research, it cannot rest on its laurels. Virginia must take additional steps to maintain its leadership role in academic excellence. First, its universities should educate all faculty and researchers concerning the opportunity to commercialize technologies. Second, university presidents and top administrative officials should support the commercialization of technologies produced at the universities. Third, the universities should provide incentives to researchers and faculty by giving them a substantial percentage of royalties from any licensed technology. Fourth, the universities should support researchers and faculty by allocating a significant percentage of university royalties received from commercialization of intellectual properties to the research projects and laboratories that produced the properties. Fifth, the universities should encourage the formation of companies by researchers and faculty members designed to commercialize technologies, as long as these com-
panies remain in compliance with university regulations concerning commercialization. Finally, the universities should work closely with the CIT to promote the commercialization of technologies. The world is entering a new age of technological creativity. In this environment, universities must turn some of their creative energies to addressing the issue of commercialization of their intellectual properties. Our future prospects, indeed, are unlimited; never before have our opportunities been so great. And it is here, in the Commonwealth of Virginia, that we want to position ourselves in the center of this scientific revolution, through a unique partnership between education, business, and government.
research has been supported by a generous gift from the Texaco Philanthropic Foundation, White Plains, New York.
Acknowledgement-My
REFERENCES 1. Martin JB. Training physician-scientists for the 1990’s. Acad Med. 1991;66:123-9. 2. Bird JD, Allen DN. Faculty entrepreneurship in research uni-
versity environments. J Higher Education. 1989;60:583-96. 3. Fishbein EA. Ownership of research data. Acad Med. 1991;66: 129-33.
