At a Transforming Economies event hosted by Chancellor Randy Woodson, speakers demonstrated how universities provide society with more than just an education.
Thought leaders and university presidents gathered in James B. Hunt Jr. Library Tuesday from 1 p.m. to 5 p.m. to discuss how universities like N.C. State provide innovative solutions to the nation’s economic problems.
Many of the panelists emphasized the leadership role that the University has toward economic development due to its programs and partnerships with other companies.
“There needs to be trust between universities and businesses so that there are not just inventions, but real solutions,” Director of Innovation and Technology Policy for the Association of Public and Land-Grant Universities Jim Woodell said.
According to Woodell, this “social capital” is key to economic development.Vice Chancellor for Research, Innovation and Economic Development Terri Lomax said this was the first event of its kind as far as she is aware of and said the impact of universities on the economy does not get talked about enough.
According to Woodell, ever since Justin Morrill established the University as a land-grant institution, N.C. State put its focus on economic development, though Woodell said the event was a way of looking forward instead of back through stimulating conversations.
“I think it’s great that this is how Chancellor Woodson and Dr. Lomax chose to celebrate 125 years,” Woodell said.
Vice President of Manufacturing and General Manager for Biogen Idec Machelle Sanders said the biotechnology company “continues to connect with N.C. State” through programs such as the Biomanufacturing Training and Education Center on Centennial Campus, which Sanders said gives students hands-on experiences.
“Those are the types of collaborations and relationships that we not only need, but that we must have to remain competitive, to grow our economy here in North Carolina, to grow our economy here in this region, and for that matter, to grow our economy here in the United States,” Sanders said.
The University serves as the “qualified talent pool” for solving today’s challenges, Sanders said.
“When [students] leave N.C. State programs, they are able to run in the door and sprint,” Sanders said. “I pretty much know they’ve got it.”
Associate Director of Corporate R&D for Proctor & Gamble Thomas Daugherty saw innovation in the University’s Nonwovens Institute because many of the company’s products use nonwovens.
“Innovation is the lifeblood of growth,” Daugherty said. “Our strategy at PNG is to connect business needs with development opportunities inside or outside the company through the innovation model. The keys are to network externally and recognize that the best ideas come from anywhere.”
According to Daugherty, the Nonwovens Cooperative Research Center has the largest single industry support in North Carolina at 98 percent.
Senior Vice President for Business Development for ABB in North America Allen Burchett said the global power automation company spent $1.5 billion on research and development, part of which took place on Centennial Campus.
In the future, Burchett said the company hopes to look at microgrid technology at Centennial Campus to provide energy solutions after natural disasters like the recent Superstorm Sandy.
Like Sanders, Burchett advocated for education. ABB uses a pre-kindergarten to post-doctoral strategy that ranges from the creation of “kid grid” for children at Marbles Museum in 2014 to their partnership with Wake Technical Community College for faculty training and scholarships.
Speakers at the event included Chancellor Woodson, as well as the Association of Public and Land-grant Universities President, the president of California Polytechnic University and the chancellor of the University of Tennessee, Knoxville.
