Newspaper article THE JOURNAL RECORD

University of Oklahoma Interns Propose Economic Ideas

Newspaper article THE JOURNAL RECORD

University of Oklahoma Interns Propose Economic Ideas

Article excerpt

The first class of interns from the University of Oklahoma's newly created Center for the Creation of Economic Wealth Wednesday presented ideas for specific ways the state of Oklahoma can boost its economy. Working with professional mentors and OU professors, the 11 students developed real-world plans for marketing two new technologies, plus a strategy to develop a seed fund that would enable OU to be competitive in developing and marketing startup companies based on its emerging technology.

New facilities, expanded research, record fundraising and an abundance of newly endowed professorships have translated to a growing "bubble" of commercialization opportunities emerging from the university, noted the seed fund intern team, mentored by William Paiva, principal of Chisholm Private Capital. Development of a seed fund is the next logical step in order to make OU technology competitive with that funded by private industry, and is a growing trend among universities nationwide, team members noted. Traditional funding methods, such as venture capital companies, are ineffective, they said, since they provide only 3 percent of funding for all startup/seed companies nationwide; plus, those limited funds tend to be distributed to companies located on the East and West coasts. OU would be better served, they concluded, by forming a university seed fund administered by an independent management team from the private sector. Funds would then be solicited from OU donors, state organizations, institutional investors and other high-net-worth individuals. Contributions to the fund could be made in the form of tax-deductible cash gifts, or a more standard investment, with profits to be returned to the investor.

Meanwhile, Oklahoma's oil industry may be able to boost its production and profits by as much as 15 percent, thanks to a patented improvement in the refining process, developed by OU professor Dr. …

Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.