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12 October 2017

Minnesota launches $4m commercialisation hub

The Discovery Nexus hub will also host officials from University of Minnesota’s edtech program and an interdisciplinary technology department.

Author: Callum Cyrus, reporter

University of Minnesota officially opened its $4m Discovery Nexus hub yesterday in a bid to further encourage collaboration and commercialisation of university-related research, according to the Star Tribune.

Discovery Nexus provides a place for faculty and student researchers to meet with entrepreneurs and decision makers at the McNamara Alumni Centre. The space holds collaboration stations, presentation areas and modern gadgetry.

The project was funded by University of Minnesota Gateway, a non-profit vehicle run by University of Minnesota Alumni Association and University of Minnesota Foundation, the latter of which handles charitable donations.

The co-investors share Discovery Nexus with the university’s tech transfer office, Office for Technology Commercialisation, along with Office of University Economic Development, Education Technology Innovations and Technological Leadership Institute.

Local entrepreneur Fred Friswold will serve as chairman of the project. He said: “It is mostly private money… from individuals and businesses.

“That is how we built the alumni centre itself. We want to help create excellence at the university but not compete for legislative funds with academic programs.”

“The university’s research already is highly productive. It has worldwide impact and typically generates more than $900m each year in research funding.”

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