An Effective Model for University-Industry Research Collaboration

Abstract

This chapter describes the Maryland Industrial Partnerships (MIPS) program, its genesis, operations, record, and impact. Founded in 1987, MIPS provides funding, matched by participating companies, for university-based research projects that help Maryland companies develop new products. Startup companies find the program attractive in leveraging their scarce resources in a non-dilutive, non-debt manner and effective in enlisting expert faculty and students in developing their company products. The State of Maryland finds the MIPS program attractive because of its significant economic impact and its high-multiple return of tax dollars to the State. The University System of Maryland faculty have embraced the program for the industry collaborations created and research funding provided. The effectiveness of the MIPS program is greatly enhanced by Maryland's robust innovation and entrepreneurship ecosystem built up over decades, a build-up whose acceleration coincided with the 1983 creation of MIPS' parent organization, now known as the Maryland Technology Enterprise Institute.