The Nevada Governor’s Office of Economic Development (GOED) leads an initiative to make technology commercialization a high priority in Nevada. A state’s competitiveness hinges on its long-term productivity and technology commercialization and technological innovation are the most important factors of production.
GOED’s vision for Nevada is to implement applied research centers at each of Nevada’s universities and at the Desert Research Institute (DRI). These centers conduct research and create intellectual property that will be used to develop new, relevant technologies to help companies grow their R&D base and enhance their growth through innovation. Applied Research Centers assist companies to turn advanced technologies into production processes and commercial products by working collaboratively with such firms. This model is based on the Fraunhofer Institutes in Germany.
This new model merges academia with economic development. Nevada’s universities are stepping up to support industries and companies facing the challenges of global innovation. Economic development organizations such as GOED in turn support research universities and institutions by helping to strengthen their research capacities.
The Knowledge Fund, administered by GOED, is a major instrument to recruit highly specialized science and research faculty. This recruitment effort further expands already existing research areas of excellence in the state and thereby assists applied research centers in the effort to support industry innovation in Nevada. Through the Knowledge Fund, GOED supports projects at the University of Nevada, Las Vegas (UNLV), the University of Nevada, Reno (UNR), and the Desert Research Institute (DRI).
To obtain this funding, the Nevada System of Higher Education (NSHE) submits applications to GOED for projects that could benefit from Knowledge Fund support.
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