By Jim Bakken
The University of Alabama System Board of Trustees approved a proposal for the development of an Institute for Innovation and Entrepreneurship at the University of Alabama at Birmingham (UAB) during its meeting on Feb. 8, 2013.
The UAB Research Foundation (UABRF), which currently manages technology transfer and intellectual property created by the UAB community, will now have an expanded presence and operate as the Institute for Innovation and Entrepreneurship.
In this capacity, the Institute will serve to create and foster an entrepreneurial and innovative ecosystem integrating the UABRF’s existing strengths and capabilities, enhancing and facilitating service and technology commercialization. Further, its mission will include engagement of faculty in creating new classroom and experiential learning opportunities for students across campus, as well as encourage and cultivate interdisciplinary scholarly research and publication among faculty and clinicians, and serve as the resource center for UAB as it continues to advance its role in innovation and entrepreneurship.
“We are excited to announce the approval of the Institute which will further support UAB’s mission to be a leading research university and academic health center that discovers and applies knowledge for the economic benefit of Birmingham, the state and beyond,” said Richard Marchase, Ph.D., vice president for research and economic development at UAB. “As such, the Institute will be dedicated to reaching across disciplines, providing a unified voice and streamlined approach for the efficient and successful launch of innovative ideas and discoveries. We look forward to keeping the UAB community updated as we move forward.”