This week, I participated in a fascinating series of discussions at The Economist magazine’s summit called “The Ideas Economy: Human Potential – When the world grows up”. I came away with the realization that we’re not tapping into even a tiny fraction of the potential that human beings have. Additionally, we have a unique opportunity, today, to leverage the entire world’s talent. In Silicon Valley, in particular, ideas are the currency that matter, and these are the keys to innovation and economic success. Knowledge creation has globalized and there is a fierce race underway for talent. We can fear this all we want, but we have a choice: raise protectionist barriers and lose the race, or recognize the new reality and take advantage of the opportunities for collaboration and innovation.
At the event, Kauffman Foundation senior fellow Ben Wildavsky discussed key findings from his book, The Great Brain Race. He documented that student mobility is now taking place to a degree never been seen in history. More than three million students travel outside their home countries to study—a 57 percent increase in just the past decade. What’s more, those extraordinary numbers are projected to nearly triple, to 8 million, by 2025. In a competitive global marketplace, student recruiting is fierce. (New Zealand even resorted to a viral video showing two students making out in the corner of a hot tub; the camera pulls back to show a pair of disapproving adults in the other corner followed by the caption “Get further away from your parents”.) → Read More
Three high-profile American universities, Cornell University, Princeton University, and George Washington University, have banned the iPad from their campuses. George Washington University and Princeton University call the device a “security risk,” while Cornell is concerned about students chewing through too much bandwidth. So much for the iPad being the darling of higher education. → Read More
Editor’s note: This is a guest post by Vivek Wadhwa, an entrepreneur turned academic. He is a Visiting Scholar at UC-Berkeley, Senior Research Associate at Harvard Law School and Executive in Residence at Duke University. Follow him on Twitter at @vwadhwa.
Everyone seems to be waiting for the next great discovery which will change the world. But, believe it or not, the next Internet, semiconductor, or breakthrough in MRI technology may already have been discovered. It’s just languishing on the shelves of the university research labs you drive by on your way to work every day. University researchers don’t know how to commercialize their discoveries and smart, hungry entrepreneurs looking to meet the next Larry or Sergey don’t know how to find them. These parallel universes rarely meet (well, except sometimes at Stanford).
In 2007, U.S. universities performed $48.8 billion of research and filed 17,589 U.S. patent applications. In that same year universities received back revenues for licensing and royalties on patents of less than $2 billion. Those revenues include ongoing royalties from all of the research licensed over the past 40 years. The implication is clear. An astonishing amount of promising research is left in the lab.
When I say this to university administrators, they get incredibly defensive (almost like the VC’s I pissed off with my last post.) They rightfully argue that the role of the university is to teach and to add to the world’s knowledge base. The real benefit comes from the students who universities educate, who go and start the Apples and Microsoft’s. No argument there. But we have a goldmine of knowledge and potential innovation locked in our research universities. This goldmine could fuel the next two decades of economic growth. It is time to mine this goldmine. → Read More
In its continuous effort to be bigger douche bags, the RIAA recently released a list of the top piracy schools in the country. Topping the index were Ohio University, Purdue, and the University of Nebraska—the latter of which was cited for only pirating country music, seriously (not really). There is a total of 25 schools represented on the list and all of them should be very much ashamed of themselves. Strangely underrepresented amongst the show were southern schools and California (Kaaal-ee-forn-eya) schools. Guess they need to get work. Anyway, here is the full list: → Read More
