Five Ways to Boost Entrepreneurship and Innovation in Michigan

4/22/10

[Editor's note: To help launch Xconomy Detroit, we've queried our network of Xconomists and other innovation leaders around the country for their list of the most important things that entrepreneurs and innovators in Michigan can do to reinvigorate their regional economy.]

1) Create great technologies

2) Bring more venture capital into the region

3) Get the state to give more grant money to universities + existing faculty

4) Attract great new junior and senior faculty (more funding needed)

5) Strengthen tech transfer offices.


Biomedical engineer Robert Langer is the David H. Koch Institute Professor at the Massachusetts Institute of Technology. He has approximately 800 issued and pending patents, 220 of which have been licensed or sublicensed to pharmaceutical, chemical, biotechnology, and medical device companies. Follow @

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  • Peter Scott

    Robert,
    Please, please, please don’t get the state to give more grant money to universities they are great destroyers of capital.

    For every $1B in capital investment into research, the Univ. of Mich. sees about $20M in return. Most VCs would rather see this equation reversed, they would like to see a $20M investment return $1B.

    The universities are not economic engines, they take money and dump it in a black hole.
    Cheers,
    Peter