Small Business Development 2000: Cornell's Research Serves the Region

Abstract

The benefits of Cornell's research, scholarship, and creativity touch the public in many ways through technology transfer and outreach. Spin-off companies are a direct benefit to the economic development of the region, creating more jobs and revenues. With $377 million (FY 1999) in research expenditures, Cornell's potential for serving the region through economic development continues to grow. One of the university's goals is to make the transition from research advances to the formation of small businesses easier. Cornell's partnership with Tompkins County in establishing the Business Innovation Center and Cornell's own Office of Economic Development have created a supportive and nurturing climate for small business development on campus and in the community. Cornell's Research Serves the Region: Small Business Development 2000 illustrates how technology transfer and outreach are achieved through small business development. It documents 85 small businesses that have emerged as a result of Cornell's extensive academic resources--its people, research, and facilities. These businesses employ more than 4,200 people in the region, and they have $405 million in annual revenues with only 13 companies revealing revenues