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Innovation and Entrepreneurship Showcase Spotlights Startup Companies Born Out of Federally Funded, University-Based Research

December 7, 2020

W7energy has been selected to participate in the Association of Public and Land-grant Universities and the Association of American Universities will host their 3rd annual University Innovation and Entrepreneurship Showcase virtually on Dec. 7-11. The showcase will spotlight 22 startup companies from across the nation that have created products and services using federally funded, university-based research.

The virtual event is designed to highlight the important role of federal funding for university-based research in driving high-value entrepreneurship and the American innovation economy. The event – in previous years held in person, but this year being held online – targets members of Congress, their staffs, and national leaders in economic development and innovation policy.

In addition, the virtual showcase coincides with the 40th anniversary of the Bayh-Dole Act on Dec. 12. The Bayh-Dole Act significantly increased and accelerated the transfer of federally funded university discoveries to the marketplace. University-based research leads to the formation of thousands of startup companies and commercial products every year.

“The federal research that public universities undertake is foundational to innovation and economic growth,” said APLU President Peter McPherson. “This research spurs life-changing new technologies, life-saving new medical therapies, and can even launch entirely new industries. Federal investment is a cornerstone to building a more healthy and prosperous society. These startups illustrate the critical importance of federal investment in university-based research.”

Of the showcase, AAU President Barbara R. Snyder said: “The longstanding and productive partnership between the federal government and America’s leading research universities has not only driven much of the most important scientific, technological, and medical advancement of the post-World-War-II era, but has also empowered countless entrepreneurs to start companies and even create new industries. This entrepreneurship has expanded our economy and advanced our health and national security.”

Startups featured in the showcase were chosen by a selection committee composed of innovation experts who considered the level of student engagement in the startup, the strength of the startup technology, and its connection to research. The committee also factored whether the affiliated university had earned APLU’s Innovation & Economic Prosperity University designation, a national recognition for higher education institutions that demonstrate a substantial and sustainable commitment to promoting economic development.