CICP to provide ‘innovation to economy’ faculty grants

As a result of this gift, IU’s Advanced Research and Technology Institute (ARTI) will select and recognize faculty members with an award for their demonstrated success in transferring an IU technology development into a successful commercial application.

Potential impact on the Indiana economy will be a determining factor. At least one IU faculty member each year will receive a minimum $5,000 cash award.

The Central Indiana Corporate Partnership is an alliance of Indiana business and research university leaders that has come together to foster long-term prosperity for the region. CICP promotes public, private and academic sector planning toward expanding a competitive central Indiana economy.

“CICP is pleased to make this grant available to IU to promote the recognition of those faculty members whose research may very tangibly benefit Indiana’s economic future,” said David Goodrich, CICP president. “We feel very strongly that our research universities are and will be unique catalysts in developing opportunities that have the potential of transforming the future of our state and its people.”

“Public universities have an important obligation to the state they serve in providing the cutting-edge research that leads to economic growth,” said IU President Myles Brand. “Our partnerships with the private sector are vital to us here at IU. I am particularly pleased with this endowment as a sign of mutual support for our collaborative goal of building a stronger, more diverse economy in Indiana.”

IU is an active partner in the Central Indiana Life Sciences Initiative, which is seeking to increase the number of jobs, businesses and research opportunities in the life sciences industry in central Indiana.

ARTI’s Office of Technology Transfer serves both inventors and industry by promoting the licensing of the inventions of IU researchers. It has helped faculty innovators in the areas of disease prevention and treatment, medical devices, chemistry, computers and information technology, and optics and imaging.