Innovate at Carolina Case Statement

8/8/2019 Innovate at Carolina Case Statement

1/8


2/8

T h e U N I V E R S I T Y o f N O R T H C A R O L I N A a t C H A P E L H I L L2

in the Ivory Tower. Rather, with one bold

stroke, Carolina led a young country to a future

lled with highly educated citizens of all creeds

and backgrounds, giving generations access to

Americas promise of life, liberty, and the pursuit

of happiness.

It is time to be bold again. Even bolder. We

must do more than lead in American public

higher education. We must extend our impact to

the region, state, nation, and the world.

Holden orp, Chancellor of the

University of North Carolina at Chapel Hill

On Oct. 12, 2010, Chancellor orp willlaunch the University of North Carolina atChapel Hills Innovate@Carolina Campaign.e

campaign will aim to raise $125 million to make

Carolina a world leader in launching university-

born ideas for the good of society.

Why Oct. 12? Because that date, in 1793,

marked the birth of public higher education in

America. e laying of Old Easts cornerstone

proclaimed to the nation that Carolina refused tofollow the path of cloistered elitism, sequestered

A Time for Bold Action

WE HAVE SO MUCH WORK AHEAD OF US. OUR TO-

DO LIST IS NOTHING LESS THAN THE GREATEST

PROBLEMS OF OUR TIME: CURE DISEASES, AND

GET THOSE CURES TO ALL THE PEOPLE WHO

NEED THEM. FIND AND INVENT CLEAN ENERGY.

INSPIRE STUDENTS IN OUR PUBLIC SCHOOLS. FEED

SEVEN BILLION PEOPLE. DESCRIBE THE WORLD,

AND REPLACE CONFLICT WITH UNDERSTANDING.


3/8

Carolinas Challenge for a Better World 3

to assess the current state of knowledge in a disci

pline, augment that knowledge through rigorous

new research, and share the product of this new

knowledge in innovative ways. In short, a culture

of innovation.Although humanity faces great challenges

we have great human capital to respond. Among

our 3,500 faculty, we can claim a Nobel Prize

winner and members of the national academie

in the sciences and medicine as well as the art

and humanities. Our student population boast

many of the nations best and brightest high

school graduates and graduate students. And

these students can pursue more than 100 eldof study and earn bachelors, masters, and doc

toral degrees, along with professional degrees inelds including dentistry, medicine, pharmacy

business, journalism, and law.

Carolina is physically located at the nexus of

innovation and entrepreneurship. Just miles from

two other world-class research universities, Duke

University and NC State, UNC-Chapel Hill ha

forged extensive partnerships with these institutions. e Research Triangle Park (RTP) stand

just 10 miles from the Carolina campus as

testament to the power of entrepreneurial think

ing. Founded in 1959, RTP is one of the larges

research parks in the nation where a concentra

tion of corporate research-and-developmen

facilities and a highly educated workforce have

fueled a thriving entrepreneurial economy.

And so our stage is set with tremendous

potential. We have the will to turn that potentia

into even greater achievement. We must now

align our values, resources, and processes to

drive our culture of innovation. e Innovate@

Carolina Campaign will give us the way.

The world needs help. Read any front page, watch any newscast, check any RSS feed.From oil spills to u pandemics to suicide bomb-

ers, every day seems to bring another horror.

And yet there are great institutions that

can help. And Carolina is one of them. e

Innovate@Carolina Campaign will set in motion

our response.

As the nationsrst public university, Carolina

has always epitomized public service. Further,because of our commitment to liberal arts, strong

technical areas, and professional schools, our fac-

ulty and students see the world broadly and think

critically. ey are wired to innovate.

Carolina is both compelled and poised to

accelerate and apply its innovative and entrepre-

neurial mindset to help solve the worlds most

recalcitrant problems.

Our strength comes from fostering creativ-

ity and discovery in the classroom, the lab, and

the studio, as well as in communities beyond our

campus. Our liberal arts tradition, combined

with excellence in scientic research and profes-

sional programs, equips our faculty and students

The Challenge


4/8


more than promoting a single professors eco-

friendly business concept or getting research

ndings published in academic journals. Such

eorts are important, but the scope of the

Innovate@Carolina Campaign will be nothing

less than transformative: We will build a culture

of innovation that permeates every corner of

campus, from the chemist in Caudill Labs tothe poet in Greenlaw Hall. We will redouble our

eorts to leverage scientic and medical research

for societys good, and we will advance work in the

humanities that leads to greater understanding of

the challenges the world faces.

Whats more, to eectively address these com-

plex challenges, this culture will be collaborative,

with the chemists science and the poets verse

informing each other.e key to our roadmaps success is simple: We

must raise $125 million to make it a reality. And

we aim to do so by June 30, 2013. e worlds

problems wont wait.

In early 2010, Chancellor orp assembledgroups of faculty, sta, students, alumni, parents, and friends of the University many

with extensive experience leading innovation

in science, business, medicine, nonprots, and

academia. eir charge: Develop a strategic plan

to enable Carolina to increase the volume and

accelerate the pace at which important ideascreated here are applied for a better world.

e resulting roadmap scales far beyond the

conventional notions of how a university can

do good outside its borders. We envision much

The Way Forward

We will build a culture of

innovation that permeates

every corner of campus.


5/8


$6 million (expendable) to fund grants

tackling the Worlds GreatestChallenges. Every two years forthe next six years, the campus

will coalesce around a theme thataddresses a pressing global priority,such as water quality and its critical

role in supporting healthy communitiesaround the world.

The Innovation Circle identifiedthese major funding goals for theInnovate@Carolina Campaign:

$25 million to create a permanentendowment supporting innovation.

This endowment will create a groupof Innovation Funds to be awardedon a competitive basis to faculty,

students, and staff to support the most

promising innovations on campus.

$15 million (endowment) to create five

Applied Sciences Professorships.The faculty filling these positions willbring the expertise that lies at the

intersection of disciplines. They willhelp colleagues across campus con-nect basic sciences with engineering,

propelling the University into newareas of discovery and application.

$15 million (endowment and

expendable) to hire entrepreneurs-in-residence. Drawn from the ranksof outstanding commercial and social

entrepreneurs both on and off campus,these experts will mentor and counsel

students and faculty interested orinvolved in entrepreneurial ventures.They also will use their professionalcontacts to help students secure

off-campus internships and facultydevelop relationships with the privateand non-profit sectors.


CAMPAIGN GOALS


6/8


the skills to start successful ventures

of all kinds: commercial, social,scientific, and artistic. Additionalfunding will provide ongoing support

to the highly successful CEI programsincluding Launching the Venture,the Chancellors Faculty Boot Camp

on Entrepreneurship, the CarolinaChallenge, and First Year Seminars ininnovation and entrepreneurship.

$10 million (expendable) to createa Student Innovation Hub. TheInnovation Hub will serve as a

physical nexus on campus wherestudents, faculty, and staff can cometogether to engage in innovation and

entrepreneurial efforts. Preferably anexisting public space, centrally locatedand transformed over time into an

Innovation Hub open to the entireUniversity community to nurture,inspire and celebrate the innovation

culture of Carolina. Such a spacewould offer resources to innovatorsand entrepreneurs who do not have a

natural home in a specific unit, providespaces for ad hoc collaborations, andserve as a common space to celebrate

our campus-wide innovation culture.

$6 million (endowment) to fund

two Innovation Professorships.Innovation Professors, selected ona competitive basis to pursue a

promising innovation project, willbe exempted from the normalstructures of their academic position

at Carolina for up to three years.

$25 million (endowment) to support

teaching and research, includingthe Minor in Entrepreneurship andother successful programs of theCarolina Entrepreneurial Initiative.

Critical to promoting a culture ofinnovation, the interdisciplinary minorin the College of Arts and Sciences

encourages students to think andact entrepreneurially, teaching them

CAMPAIGN GOALS



7/8

Carolinas Challenge for a Better World 7Carolinas Challenge for a Better World 7

$5 million (endowment) to support

the Innovation Scholars Program.Expanding the Carolina InnovationScholarship program will enable the

University to recruit and supportmore students who show outstandingpromise as entrepreneurs with

scholarships that cover the full costof tuition, fees, room and board,renewable for four years.

$3.3 million (expendable) to expandthe Carolina KickStart programcampus wide. Carolina KickStart,

in collaboration with Office ofTechnology Development andCenter of Entrepreneurial Studies,

will improve the probability ofsuccessfully commercializing UNCfaculty technology by seeding

startups and providing comprehensiveconsulting services.

$14.7 million (expendable andendowment) to fund emerginginnovation projects. The remaining$14.7 million in the Innovate@

Carolina Campaign will fund otherimportant efforts that will includeseed funding for social innovations

created at Carolina; ResearchTriangle and Global competitivecollaboration grants; grants

funding studies in innovation andentrepreneurship to assess whatapproaches are most effective as

agents of change; and marketingefforts to collectively nurtureCarolinas culture of innovation for

a better world.


8/8

WE MUST BE BOLD, AGAIN.

Return on investment. Every investor expectsit.e Innovate@Carolina Campaign takesthis to heart. And as with investors in any enterprise, supporters will receive an annual report

and be invited to an annual Innovate@Carolina

meeting convened by the Chancellor. Both will

document our progress in turning ideas into

solutions, using rigorous empirical metrics to

measure the performance of every Innovate@

Carolina program.Investors want impact. As a charter share-

holder in the Innovate@Carolina enterprise

your investment will amount to much more than

a thicker stock portfolio. As Chancellor orp

says, Carolinas to-do list is nothing less than the

greatest problems of our time. And so this cam-

paign represents nothing less than the chance to

change the world.

The Ultimate ROI

INNOVATE.UNC.EDU

Documents

Innovate at Carolina Case Statement