New campus collaboration promises heightened opportunities for innovation and entrepreneurship – Vanderbilt University

Vanderbilt University Advances Innovation and Entrepreneurship through Strategic Collaboration

Introduction

Vanderbilt University has announced a strategic collaboration aimed at fostering innovation and entrepreneurship, aligning with the United Nations Sustainable Development Goals (SDGs) by promoting inclusive and sustainable economic growth, innovation, and infrastructure (SDG 8 and SDG 9). Provost C. Cybele Raver revealed a new partnership among the Wond’ry, the School of Engineering, and the Owen Graduate School of Management’s Center for Entrepreneurship to enhance interdisciplinary discovery and accelerate the translation of ideas into impactful solutions.

Integration and Realignment

Effective July 1, the Wond’ry was integrated into the School of Engineering, expanding access to innovation resources and supporting SDG 9 (Industry, Innovation, and Infrastructure). Entrepreneurship initiatives transitioned to the Owen School, which will focus on bringing innovations to market, thereby fostering sustainable economic development (SDG 8).

• Wond’ry’s New Focus: Innovation and making/design.
• Reporting Structure: Now under Dean Krish Roy of the School of Engineering.
• Entrepreneurship Leadership: Center for Entrepreneurship at Owen School to guide business development.

Strategic Objectives and SDG Alignment

The collaboration aims to:

1. Enhance interdisciplinary innovation: Leveraging engineering and management expertise to foster creativity, rapid prototyping, and product development (SDG 9).
2. Support market readiness: Guiding ideas from concept to viable products and services, promoting sustainable economic growth and decent work (SDG 8).
3. Expand community engagement: Serving students, faculty, and staff across Vanderbilt to nurture entrepreneurship and innovation ecosystems (SDG 4 – Quality Education).

Collaboration Highlights and Impact

The partnership strengthens Vanderbilt’s entrepreneurial ecosystem by:

• Utilizing Owen School’s extensive business networks and alumni connections to secure capital and mentorship.
• Showcasing success at the Convoy event, a major university-led innovation gathering featuring industry leaders and alumni entrepreneurs, reinforcing Vanderbilt as a national hub for venture creation.
• Encouraging sustainable development through innovation that addresses global challenges aligned with SDGs.

Mission Refinement and Future Directions

The Wond’ry, School of Engineering, and Owen School of Management will collaboratively refine their missions to enhance entrepreneurship activities, emphasizing inclusivity and sustainability:

1. Innovation and Productization: Continued focus on developing new student-facing initiatives in collaboration with the Law School’s startup clinic to provide legal support, promoting SDG 16 (Peace, Justice, and Strong Institutions).
2. Grant Management: Transition of grant-related responsibilities to the Office of the Vice Provost for Research and Innovation to optimize resource allocation.
3. Resource Optimization: Reducing redundancy among entrepreneurship and social innovation programs to strengthen financial sustainability and innovation pipelines.

Conclusion

Dave Owens, Evans Family Executive Director of the Wond’ry, emphasized that the integration with the School of Engineering and collaboration with Owen’s Center for Entrepreneurship will build stronger foundations for student innovators and facilitate the funding and market introduction of new ideas. This strategic realignment supports Vanderbilt’s commitment to the Sustainable Development Goals by fostering innovation, entrepreneurship, and sustainable economic growth within its community and beyond.

1. Sustainable Development Goals (SDGs) Addressed or Connected

1. SDG 8: Decent Work and Economic Growth
   • The article discusses fostering innovation and entrepreneurship, which are key drivers of economic growth and job creation.
2. SDG 9: Industry, Innovation, and Infrastructure
   • The focus on innovation, rapid prototyping, product development, and systems design aligns directly with SDG 9’s emphasis on building resilient infrastructure, promoting inclusive and sustainable industrialization, and fostering innovation.
3. SDG 4: Quality Education
   • The collaboration among different schools and the emphasis on interdisciplinary discovery and entrepreneurship education supports inclusive and equitable quality education and lifelong learning opportunities.
4. SDG 17: Partnerships for the Goals
   • The strategic collaboration among the Wond’ry, School of Engineering, Owen Graduate School of Management, and Law School’s startup clinic exemplifies partnerships that mobilize resources and knowledge to achieve sustainable development.

2. Specific Targets Under Those SDGs Identified

1. SDG 8 Targets
   • Target 8.3: Promote development-oriented policies that support productive activities, decent job creation, entrepreneurship, creativity, and innovation.
   • Target 8.5: Achieve full and productive employment and decent work for all.
2. SDG 9 Targets
   • Target 9.5: Enhance scientific research, upgrade technological capabilities of industrial sectors, and encourage innovation.
   • Target 9.b: Support domestic technology development, research, and innovation in developing countries.
3. SDG 4 Targets
   • Target 4.3: Ensure equal access for all women and men to affordable and quality technical, vocational, and tertiary education, including university.
   • Target 4.4: Increase the number of youth and adults who have relevant skills for employment, decent jobs, and entrepreneurship.
4. SDG 17 Targets
   • Target 17.16: Enhance the global partnership for sustainable development, complemented by multi-stakeholder partnerships.
   • Target 17.17: Encourage and promote effective public, public-private, and civil society partnerships.

3. Indicators Mentioned or Implied to Measure Progress

1. Indicators Related to SDG 8
   • Number of startups launched and supported through the Wond’ry and entrepreneurship programs.
   • Employment rates or job creation figures resulting from new ventures and innovations.
2. Indicators Related to SDG 9
   • Number of innovations, prototypes, and products developed through the Wond’ry’s facilities.
   • Amount of research and development expenditure or resources allocated to innovation activities.
3. Indicators Related to SDG 4
   • Number of students, faculty, and staff participating in interdisciplinary entrepreneurship and innovation programs.
   • Access to education and training programs focusing on entrepreneurship and innovation.
4. Indicators Related to SDG 17
   • Number and diversity of partnerships formed among different schools and external stakeholders.
   • Amount of funding and resources mobilized through partnerships and alumni networks.

4. Table of SDGs, Targets, and Indicators

Source: news.vanderbilt.edu