At a hearing today on Capitol Hill, experts discussed how federally funded university research drives innovation that contributes to local economies. The hearing, "Fueling Local Economies: Research, Innovation and Jobs," was conducted by the congressional Joint Economic Committee and chaired by Rep. Carolyn Maloney (D-NY). Expert witnesses focused on the New York State economy and included Dr. Samuel Stanley, president of Stony Brook University; Zachary Shulman, senior lecturer of entrepreneurship at Cornell University's Johnson School of business and managing partner at Cayuga Venture Fund; and Dane Stangler, Kauffman Foundation researcher on behalf of Dr. Robert Litan, vice president of research and policy at the Kauffman Foundation and a senior fellow at the Brookings Institution. Stony Brook and Cornell universities are members of The Science Coalition.
Dr. Stanley and Professor Shulman offered their perspectives Stanley as a medical doctor, researcher and university president and Shulman as a venture capitalist, former businessman and attorney focused on finance and corporate transactions on how their institutions are helping to transfer university-based knowledge into the broader community and what this means in terms of local job creation and economic growth.
As the largest single-site employer on Long Island and the leading technology transfer campus in the State University of New York (SUNY) system, Stony Brook is an integral component of the local, regional and national economies. The university's aggregate economic impact amounts to more than $4.6 billion annually. Stony Brook contributes to innovation and job creation in a multitude of ways from nurturing students and would be entrepreneurs with business incubation programs to conducting world class research, and from hosting centers of excellence in wireless and information technology and advanced energy and research to operating the Stony Brook University Medical Cen
|Contact: Sue Garman|
The Science Coalition