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Innovation Centers and Economic Development

In: University-Industry Collaboration

Author

Listed:
  • Kevin T. Byrne

    (The University Financing Foundation (TUFF))

  • Victor R. Clements

    (The University Financing Foundation (TUFF))

Abstract

This chapter examines The University Financing Foundation’s (TUFF) experience as a developer and advisor to University-Industry (UI) collaborations, including practical and philosophical approaches toward the development of innovation centers and their capacity to spur economic development. TUFF is a nonprofit developer and advisor whose mission is to support institutions of higher education and research. The primary method through which TUFF achieves its mission is the acquisition and physical development of real estate assets and a corresponding, careful, ongoing attention to those physical facilities over a long-term. TUFF specializes in activation, community engagement, and the cultivation of authentic relationships, all of which contributes to the vibrancy, success, and economic development of a research park. Ultimately, TUFF’s theory of change is predicated on the belief that innovation-driven economic activity is often the primary mechanism through which to increase the standard of living in a given community. Further, to achieve innovation and economic growth in today’s world, UI partners must be part of a coordinated and broad-based effort. This chapter outlines TUFF’s operating philosophy and approach to stakeholder engagement, which emphasizes collaboration through listening, learning, and responsive programming.

Suggested Citation

  • Kevin T. Byrne & Victor R. Clements, 2025. "Innovation Centers and Economic Development," International Series in Operations Research & Management Science, in: Randolph Hall & Anthony Boccanfuso (ed.), University-Industry Collaboration, chapter 0, pages 123-140, Springer.
    • Handle: RePEc:spr:isochp:978-3-031-94913-5_7
    DOI: 10.1007/978-3-031-94913-5_7
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