The University of California is planning a $250 million venture-capital fund to finance startup companies stemming from research conducted by its faculty and students.
The fund, seeded with money from the UC endowment, would be one of the largest of its kind, targeting work done at the university's 10 campuses, five medical centers and three national laboratories. A proposal to establish the fund is set to be presented to the governing UC Board of Regents on Wednesday. The plan was posted online Monday.No ivory tower academics, these. Though there are still some of those too;
The shift to a more entrepreneurial approach hasn't enjoyed unanimous support—particularly when assistance comes directly from the university. Some faculty members have expressed concern that such investment activity favors certain departments over others and fosters a competitive, market-driven atmosphere that isn't conducive to pure academic research.Where there's no competitive pressure at all. Sure.