Accelerating Innovation across the Country: Putting “FASTER” in Context
From innovative medical devices and therapies to critical developments in artificial intelligence (AI) and technology, U.S. universities and innovation centers have changed the world and driven job creation, GDP growth and gross output since the start of the post-WWII period. Technology transfer, though little understood, is the conduit between university faculty with innovative concepts and the creation of high-value startups. Yet, outside of America’s celebrated tech clusters in Silicon Valley, Boston, and other coastal supercities, most universities lack the funds and resources needed to help translate faculties members’ bright and novel ideas into something bigger. Even in and around major cities, America’s historically black colleges and universities (HBCUs) do not have this infrastructure – meaning that American innovation is often limited only to the ideas of a very small and mostly white subset of the population. Maintaining America’s innovative edge in this century will require creating more opportunities for more of America’s creative minds.
One answer to this is FASTER, a legislative concept for helping universities, colleges and research hospitals move promising ideas into commercial markets. The Focused Action Supporting Technology and Economic Response (FASTER) initiative is a new proposal to increase federal funding to universities, hospitals, and federal labs. Building on the successful university technology transfer model, this proposal introduces a $864 Million infrastructure pilot program with the goal of accelerating the technology transfer of U.S. inventions, creating new companies and jobs, and significantly impacting the U.S. economy in the coming years.
Please join the CSIS Renewing American Innovation Project for a timely conversation on the FASTER initiative. This presentation will feature a panel of experts from the university innovation accelerator space in a captivating discussion, moderated by CSIS president and CEO John Hamre.
Associate Vice President for Research - Technology Transfer and Innovation Partnerships, University of Michigan
Vice Provost for Innovation and New Ventures, Managing Director of UNHInnovation, University of New Hampshire
Senior Director of STEM Initiatives and HBCU Innovation, Commercialization and Entrepreneurship (ICE), United Negro College Fund
John J. Hamre
CSIS President and CEO, and Langone Chair in American Leadership
This event is made possible through general support to CSIS.