U of M marks research growth and shares plans for increased impact
Board of Regents to review the state of the University’s billion-dollar research and technology commercialization enterprises.
The University of Minnesota’s billion-dollar research enterprise is growing and its ranking among U.S. public research universities climbed two places over the last year (to No. 12), according to the latest data from the National Science Foundation. Vice President for Research and Innovation Shashank Priya will present this news and more in the annual report on University of Minnesota research and technology commercialization to the Board of Regents next Thursday.
The report highlights new initiatives for research growth, as well as plans to increase the real-world impact of the University’s research enterprise, including taking commercialization of University of Minnesota innovations to the next level.
“We have a strong foundation in our research enterprise,” said Priya. “Our job is not only to foster the creativity and the discoveries of our talented research community, but also to grow the impact we already have on our economy and our society throughout Minnesota and beyond.”
Priya’s office recently changed its name to the Research and Innovation Office to better communicate the innovation and entrepreneurialism that are growing aspects of the University’s work and culture. The presentation to the Board will review the University’s well-regarded work in commercializing technology created in its labs and facilities, including the record 23 startup companies created during fiscal 2023. Priya will highlight a new program, Discovery to Impact, that seeks to significantly grow University of Minnesota startup and other entrepreneurial activity.
While technology commercialization statistics were released earlier this fall, next week is the first public opportunity for the Board to discuss the continued success of the University’s research enterprise, progress toward research-related goals outlined in MPact 2025, the University’s systemwide strategic plan, as well as strategies for building on the U of M’s status as one of America’s leading public research universities and a global presence in research.
Public comment encouraged through Board of Regents Virtual Forum
Following a series of discussions about opportunities for additional public engagement with Regents, the Board launched a pilot program earlier this fall that allows members of the public to submit comments from anywhere and at any time. The Board’s Virtual Forum accepts audio, video and written input, which is shared directly with Regents and included in the Board’s public materials. Individuals are encouraged to visit the Virtual Forum to submit their comments.
During its December meeting, the Board will hear an update on early engagement with the Virtual Forum.
The Board is also expected to:
- Review fiscal 2025 budget variables in an annual presentation from Vice President and Budget Director Julie Tonneson.
- Discuss possible input for the Governor’s Task Force on Academic Health at the University of Minnesota with Vice President for Clinical Affairs and Dean of the Medical School, Jakub Tolar.
- Act on amendments to Board of Regents Policy: Equity, Diversity, Equal Opportunity, and Affirmative Action after an October review of proposed language with Tina Marisam, associate vice president for Equity and Diversity.
- Review the University’s annual performance and accountability report, as well as updates on MPact 2025 measures with Interim President Jeff Ettinger and Executive Vice President and Provost Rachel Croson.
- Act on the financial plan for the Academic Affiliation Agreement with CentraCare.
- Review fall semester public safety updates with Ettinger and Senior Vice President Myron Frans.
- Receive the report of the senate, faculty, civil service, and P&A consultative committees with Chairs Mark Bee, Matthew Verkuilen and Whitney Taha Frakes.
For more information, including future meeting times, visit regents.umn.edu.