College Planning & Management

MAR 2013

College Planning & Management is the information resource for professionals serving the college and university market. Covering facilities, security, technology and business.

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Business PHOTO © J. ADAM FENSTER / UNIVERSITY OF ROCHESTER MANAGING HIGHER ED Putting the 'U' in EntrepreneUrship The University of Rochester is developing knowledge-based innovation for the beneft of itself and the surrounding community. BY DUNCAN MOOR E F OR TWO DECADES THE city of Rochester, NY, has been preparing for an era where large industrial manufacturing companies — such as Kodak, Xerox, and B+L — no longer dominate the region's economy. Twentyfive years ago, 60 percent of Rochester's workforce drew paychecks from those three firms. Today they employ just six percent, according to a recent New York Times article. But the loss of tens of thousands of manufacturing jobs hasn't devastated the region. In fact, despite relatively flat population growth, Rochester's workforce is larger today — with Kodak employing fewer than 7,000 people — than it was when Kodak employed more than 62,000 people. How did this happen? Much of the reason is due to public-private partnerships that work with federal, state, and local governments and academics to train entrepreneurs and create new business ventures. Since 1996, Rochester has launched 38 start-ups based on University of Rochester technologies alone. The University also partners with industry — both locally and beyond — to help them meet their R&D needs. MARCH 2013 / COLLEGE PLANNING & MANAGEMENT 59

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