Stevens Institute of Technology’s Commitment to Academic Entrepreneurship and Innovation
In April 2011, I presented in Taiwan at a joint colloquium of the National Taipei University of Technology and Jinwen University of Science and Technology. The title of my presentation was “Academic Entrepreneurship and Innovation: Harvesting the Benefits of University Research.” I spoke as head of Innovation Strategies International, LLC, from the perspective of someone who served as President of an entrepreneurially focused academic institution for more than two decades.
In leading the Stevens Institute of Technology, I remained firmly dedicated to enhancing the school’s academic entrepreneurship and innovation (AE & I). Instruction and learning have been enriched by a culture of faculty and student innovators who engaged in frontier research, creating a large number of marketable patents and trademarks. In addition, the Insitiute’s infrastructure developed prototypes and business models to enhance understanding of the maketplace and increase investor interest. The resultant market knowledge gained by students enriched their horizons, helping them graduating with the ability to create, as well as find, good positions.
The school’s focus on fostering practical tools through an AE & I practicum was recognized in 2007 by Businessweek. The article lauded the Stevens Institute of Technology as being on par with MIT and Stanford University when it came to graduating students with an ability to launch and grow successful companies. A 2008 Forbes Magazine article, “Universities that Turn Research into Revenue.” similarly praised the Institute, ranking it third in the United States in this category.
The commitment to AE & I excellence at Stevens Institute was reflected in the development of two national research centers before 2008: the U.S. Department of Homeland Security Center of Excellence for Secure and Resilient Maritime Commerce, and the U.S. Department of Defense Systems Engineering Research Center. By 2011, the Institute’s School of Systems and Enterprises presented an important source of graduate revenue for the university as a whole, offering the largest graduate enrollment worldwide in its area of focus.
About the Author: Harold Raveche served as Dean of Science of the Rensselaer Polytechnic Institute prior to taking a position as the sixth President of Stevens Institute of Technology in Hoboken, New Jersey. Since July, 2010, he has served as President of Innovation Strategies International, LLC. See www.innostrategies.com.