The Michigan University Research Corridor (URC) helped create $2.6 billion in added economic impact in Michigan compared to similar figures released in 2007, according to a
report released by the non-profit earlier this month.
The URC is a consortium of the state's three research universities (University of Michigan, Michigan State University and Wayne State University) focused on helping creating synergies between Michigan's universities and increasing research that comes from them. Its more recent report shows the URC contributed $15.5 billion to the state's economy.
"We think that is pretty impressive when we benchmark ourselves against Research Triangle and Massachusetts and Northern California," says Jeff Mason, executive director of the
Michigan University Research Corridor.
One of the factors in that growth is the increase of spin-out companies from technology developed at research at Michigan's three research universities. In 2011, the three universities spun out 18 companies, which ranked it third against other similar innovation clusters.
"What you see is these institutions spinning out on average of one company every month," Mason says.
Source: Jeff Mason, executive director of Michigan University Research Corridor
Writer: Jon Zemke
Read more about Metro Detroit's growing entrepreneurial ecosystem at SEMichiganStartup.com.
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