Corporate Relations at Princeton

2

Princeton is Committed toResearch and Scholarship

From the 1982 Campaign Report of President Bowen to the Trustees:

•“Princeton is a university of international standing distinguished by its overriding commitment to a carefully limited but ambitious role: to pursue liberal education, scholarship, and research of the highest quality primarily in the arts and sciences.”And•“The university is committed fundamentally to scholarship and research, as well as teaching, and faculty members in all divisions continue to make important contributions to the advancement of knowledge…”

3

Corporations Can Be ValuableUniversity Partners

Companies Can and Do:•Hire Princeton students and post-docs•Offer challenging scientific questions and engineering problems•License and commercialize technologies developed by Princeton personnel•Pay royalties on commercialized IP•Sponsor events•Provide volunteers for advisory councils and boards•Supply important equipment at little or no cost•Invite faculty to consult on technological and business issues•Host students as summer interns•Sponsor research in Princeton laboratories•Lend scientific and intellectual capital to complement Princeton efforts•Make unrestricted or directed gifts

4

Corporate and University CulturesAre Quite Different

Source: Ann Arvin, Stanford University

5

Corporations Fund “r&D” Universities Work on “R&d”

Companies invest in (and work on) applied research and development

Universities invest in (and work on) basic research and science

Source: National Science Foundation, Division of Science Resources & Statistics

National Patterns of R&D Resources Annual SeriesScience and Engineering Indicators, 2010

Government, University, & Industry Roles in Innovation are Different

Basic Research

Applied Research

Product Dev’pt.

Mfg Mkt, Sales

Knowledge transfer

Government

University Business division lab Industry

Source: Richard B. Dasher, Stanford University

IndustryProvide funding

Perform R&D

6

Corp R&D

7

The Environment is Changing

“In an environment of receding economies, deregulation, global competition, ever-changing tax codes, and increased financial accountability, corporate philanthropy to academia has been in transition.”

“Years-long relationships built on recruiting, alumni presence, or board memberships no longer assure a major gift”

According to the August 2011 Network of Academic Corporate Relations Benchmarking Committee Report:

8

Corporations Want True Partnerships

“[corporate] managers see working with academia as beneficial only to the extent that it advances the corporation toward its goals”

And, what matters is:

“how the new knowledge derived from a collaboration with a university can contribute to the company’s performance”

1William A. Lucas et al, “Best Practices for Industry-University Collaborations,” MIT Sloan Management Review 51:4 (Summer 2010): 83-90.

Best Practices for Industry-University Collaborations1

9

Working with top faculty. CFR identifies and works with top faculty whose research is of interest to corporations.

Working with top corporations. CFR identifies and works with select corporations which have the financial and human capital as well as the commitment that is compatible with Princeton’s culture of excellence.

CFR’s Role:Bridge The Gap

CFR’s mission is to build and sustain mutually beneficial relationships with corporations in order to advance knowledge

10

CFR At PrincetonOrganized For Success

Source: August 2011 Network of Academic Corporate Relations Benchmarking Committee Report

Five Essential Elements of a Successful 21st Century University Corporate Relations Program:

1.Institutional Support2.Mutual Benefits3.One Stop Shopping4.Integrated Research Development5.Campus Coordination