see Daily Cal: UC Now Able To Invest In Homegrown Technology
To advise the UC system on projects worth investing in, Napolitano also announced the formation of an innovation council, composed of venture capitalists, investment and technology experts, and business leaders. The selection process for council members is currently underway, and the first meeting is slated to be held in August, according to Converse.
earlier: Napolitano briefly and vaguely mentioned it in her interview with KQED here
SV Biz Jrnl on it: University of California Reverses Policy On Startup Investing To Commercialize Academic Research
Still, it's not hard to see why the budget-strained UC system is looking to get into the high-margins world of technology investing. Private universities, most notably Silicon Valley's own Stanford University, have actively encouraged entrepreneurial students and faculty to bolster both their branding and bottom lines.
“These measures are key to supporting and expanding the entrepreneurial culture on our campuses, and enhancing the innovation ecosystem at the University of California,” Napolitano said in a statement. “The technology and companies incubated at UC have a direct and critical impact on the state’s economic growth, and our continued support is integral to our university’s public mission.”
The new pilot program will allow startups to offer UC campuses equity in their young companies in exchange for the use of university resources, as opposed to the current system where startups must pay a fee.
"Accepting equity helps the startups by avoiding draining them of cash and also allows the university to participate in financial returns," the statement notes.
at 'Berkeley Law'-- there's this latest: John Yoo and 4 others named endowed law faculty chairs
- Richard Blum (AGAIN!)
- Gareth Elliott
- George Kieffer
- Sherry Lansing (AGAIN!)
- Hadi Makarechian
- Eloy Ortiz Oakley
- John A. Pérez
- Richard Sherman
- Charlene Zettel
- Anguiano, Maria
- Park, Lark
- UC Regents Committees
- Staff Advisors, Faculty Reps, Designates
- Ex Officio UC Regents
- UC Alumni Regents
- Tauscher, Ellen
- Guber, H. Peter
- Paul Monge
- VACANT (by Lozano)
- VACANT ( by Pattiz)
- VACANT (by Reiss)
"If the University were a business, it would likely be the largest corporation in California."
"If The University Were A Business, It Would Likely Be The Largest Corporation In California"-Regents Minutes (2010)