Calling
for "a new economy based on linking
business to an ecosystem created by the local universities in its midst," Duke President
Richard H. Brodhead joined Monday with other academic and political officials
in launching a major initiative to promote high-growth companies and industries
for the region.
The
five-year effort will support entrepreneurs seeking to create businesses and
jobs in North Carolina. Supported by a $3.63 million gift from the Blackstone
Charitable Foundation, a team of "master entrepreneurs" will identify
innovations from area universities and start-up companies that show special potential
to become high-growth companies. They will then mentor local companies about
how best to convert these good ideas into profitable businesses.
The
initiative will "enable our schools to be successful
together in a way none of us could have done alone," said Brodhead, who
appeared at the morning ceremony with his counterparts from North Carolina
Central University, North Carolina State University and the University of North
Carolina at Chapel Hill. The event at the American Tobacco Campus in Durham
also featured remarks from North Carolina Gov. Beverly Perdue, U.S. Sen. Kay
Hagan and other political leaders, all of whom lauded the universities as being
critical to local innovation and economic development.
"This
is what the new economy will be built upon," Perdue said. "We need initiatives
like this in North Carolina to continue to grow and thrive."
A
news release from the four
universities and other collaborators describes the new Blackstone Entrepreneurs
Network, which will resemble similar networks in Silicon Valley and the Boston
Corridor. The effort should "help North Carolina continue to unlock the
enormous potential of the Research Triangle -- a region with a rich history of
innovation and forward thinking," said Stephen A. Schwarzman, chairman and CEO
of The Blackstone Group, who gave the keynote speech at the ceremony.
Duke's
active involvement in the collaboration builds on its October launch of a
university-wide initiative to encourage
students, faculty members and alumni to transform their ideas into businesses
and socially minded ventures that create jobs and serve society.
"We at Duke, like every school represented on this
platform, have seen an incredible growth in entrepreneurial activity among our
faculty and our students," said Brodhead, who introduced Hagan. "We see it in
medicine, we see it in engineering, we see it in business and we see it in law.
We see it among undergraduates. People nowadays don't want to work for someone
else; they far rather prefer to create enterprises and have other people come
to them."
A
White House representative who spoke at the ceremony called entrepreneurship a "top priority" for President Obama. Ginger Lew, senior adviser to the National
Economic Council, praised the announcement and said "working together, we can
inspire more Americans not just to get a job but to create jobs."
Kimberly
Jenkins, senior adviser to the Duke president and provost for innovation and
entrepreneurship, was among several Duke officials who attended the event along
with local mayors, investors, journalists and others. "Our faculty, students
and alumni are building companies and social ventures aimed at solving the most
pressing problems in the world," Jenkins said. "Duke has a dynamic, vibrant
culture for innovation and entrepreneurship. We're committed to growing the
economy of Durham and to helping the Triangle become a key node on the global
hub for innovation."