Research universities across the country have awakened to the critical importance of achieving impact through innovation. This is meaningfully affecting their campus cultures, delivering for their communities, and is important for society at large, as innovative advancements drive the economy, create new businesses and jobs, and improve the human condition.
Interestingly, universities tend to focus on the growth of their research base as a fundamental measure of success in advancing innovation. However, there is more to the story than merely relying on world-class research leading to new technology, corporate partnerships, and startup companies, which in turn lead to new products and services. There are many adjacent activities that factor into the success of an academic innovation ecosystem, and Vanderbilt is aggressively working to optimize these other factors.
Vanderbilt's Industry Collaborations team cultivates partnerships with industry, matching their R&D needs with our core research capabilities to pursue new areas of discovery and applied research. To advance internal projects, our Innovation Catalyst Fund provides grants to enable the testing and validation of technologies with identifiable commercial potential. The Wondry's prototyping facilities are a great resource to test new product ideas, and their training and mentorship programs help build better entrepreneurs.
Entrepreneurship-in-residence programs are helping faculty vet business opportunities. Startup formation services are setting up company operations and readying them to conduct business. Vanderbilt seed funds are providing startups with resources to pursue their business concepts and position them for rapid growth.
The Vanderbilt-supported Greater Nashville Venture Capital Association is creating a network of investors that our new ventures and others in the community can tap into for growth capital.
My CTTC colleagues and I are appreciative for the opportunity to play our part in helping Vanderbilt drive impact by leveraging innovation. As you peruse some of the programs, partnerships, and startup launches highlighted in this issue of Driving Innovation Forward, please consider the many ways Vanderbilt is delivering for their researchers, the community, and society at large. It takes a village.