---------- Forwarded message ---------- Date: Fri, 21 Aug 1998 11:30:49 EDT Reply-To: sts at kant.ch.umkc.edu To: Multiple recipients of <sts at kant.ch.umkc.edu> Subject: STS: Aug. 31 issue of "Business Week
MAGAZINES & JOURNALS
A glance at the August 31 issue of "Business Week": Theory-oriented research universities adapt to keep pace with market demands
The University of Chicago and other large research universities that traditionally have emphasized more-theoretical science have been forced to re-examine their focus in order to adapt to rapid technological change and economic globalization, writes Richard Melcher, a Chicago correspondent for the magazine. Much of the impetus for change has been the minimal increases in federal research grants, combined with increased competition for that money. Long known as a leader in classical research, the University of Chicago during the last two decades has seen its ranking as a recipient of science money slip from among the top 10 U.S. universities to about 20th, while technology-oriented universities have come to the fore. So in recent years, Chicago has tried to build on its strengths in the life sciences by combining those disciplines with its medical school, aiming to capitalize on biotechnology developments. The university also has created an in-house venture-capital operation to back professors' entrepreneurial efforts through start-up companies and technology-transfer deals. Chicago's reinvention, and that of universities like it, amounts to a market test in which innovation will be rewarded with commercial revenue, Mr. Melcher says. But many in academe have misgivings that such a change in focus and motivation will make research universities lose sight of the benefits of scientific inquiry that is more long-term and uncertain, but that can result in true discovery. The magazine's World-Wide Web address is http://www.businessweek.com
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