How much do local research universities impact the high-tech startup activity in a metro area? The answer to this question is important to state and local policymakers and economic development leaders, not to mention university administrators and entrepreneurs.
In a Forbes.com blog post, Kauffman Foundation researchers Yasuyuki Motoyama and Jordan Bell-Masterson delve into this issue – one of several key findings in a study they conducted that assessed what factors play a role in metro-area startup activity.
Read an excerpt of the post below.
Metro Startup Hubs and the University Factor
Research universities have long been thought of as one of the nation's powerful engines of economic growth. Given the success of Silicon Valley, the Research Triangle in North Carolina and Route 128 in Boston, it is not unreasonable to assume that strong, local research universities can stimulate high-tech business growth.
This fits a common sense story – the more educated the population, the more likely they'll have the skills and financial resources to start a business.
Furthermore, cutting-edge research by top-flight faculty can lead to companies with enormous technological leverage.
Every city and university wants the next Google, Yahoo! or Cisco, and a high-quality area university seems like a logical and effective ingredient.
Read the rest of the post on Forbes.com to find out more.