10 Year Review - The University of Akron

silos among University departments, colleges, programs, professors, and
administrators. We found silos among capital providers, entrepreneurs and technology
providers and an industry base that was frequently very closed and internally focused.
Like the visionary who saw a potential hotel in the Quaker Oats silos, we sought to find
potential in the resources of Northeast Ohio and Akron.
Some positive signs for economic growth included the University's commitment to
creating the new materials for the new economy, as well as a university president, who
is a national and international leader in technology transfer and research related
engagement. It was the outreach and technology transfer leadership of the University
president that provided Dr. Newkome the opportunity and flexibility to pursue an
aggressive strategy to achieve the University’s research and regional economic
development goals.
BEGINNING TO BUILD
One of our first steps was to engage the faculty, some of the more talented of whom
had become frustrated with the University’s technology transfer management. Many of
these faculty members had developed a mistrust of the system, and had little desire to
participate in achieving the new goals. Through active support, education, openness,
rapid response, and flexibility in meeting needs, many key researchers are now
supporters of the Office of Research efforts. Still, a number of state statutes and
compulsory rules inhibited the progress that was sought by the president and trustees.
Thus, we formed a University-related research foundation to facilitate University
technology transfer, to administer industry contracts with the University, and to house
our outreach efforts.
A separate, stand-alone research foundation provides us with a more entrepreneurial
organization to respond to industry opportunities and needs. It allows us to hold equity,
and provide indemnities to private research sponsors. We formed the University of
Akron Research Foundation (UARF), as a not-for-profit, 501(c)(3), with a corporate
charter to benefit the University and our community.
We invited members to the Board of Directors, who had a passion for the community
and understood the role of a university in economic competiveness, to become part of
our community partnership. The majority of the directors are not UA personnel. We
chose directors who had a healthy perspective of investing resources for an expected
long-term benefit. UARF entered into an agreement with The University of Akron
allowing UARF to participate and administer all of UA’s industry-sponsored research
agreements. In this capacity, UARF essentially functions as the university's fiscal agent.
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