Posted on 18 November 2009
Massachusetts Institute of Technology
University of Wales joins forces with MIT
Welsh businesses are to be given the opportunity to access academic and scientific expertise from the Massachusetts Institute of Technology (MIT), one of the World’s leading universities.
Earlier this week, the University of Wales signed an agreement with MIT's Industrial Liaison Program (ILP), which helps leading global companies keep pace with industry changes, develop new products and processes, and adopt innovative management practices. As part of this arrangement, Welsh companies that are members of the University of Wales Global Academy will be given access to world class academic expertise in key science, engineering and technology areas.
Professor Dylan Jones-Evans, Director of Research and Innovation at the University of Wales, believes this is an opportunity for Welsh businesses to gain direct access to some of the best academic minds in the World.
“The University of Wales is thrilled at the prospect of having companies from Wales gain direct access to the ILP programme which helps businesses worldwide harness MIT's resources to address current challenges and anticipate future opportunities.
“The aim of the University of Wales is to take the best of Wales to the world and to bring the best of the world to Wales. This programme is a perfect example of that philosophy and will enable Welsh entrepreneurs to work alongside MIT faculty to monitor emerging innovations in science and technology and explore their potential impacts. It will also give them the chance to explore new management practices and solve specific problems through consulting or research collaboration with the best in their field.”
The ILP will also enable Welsh companies to access private workshops and conferences with MIT faculty which can be used to bring outside expert viewpoints into the company’s strategic planning efforts, explore the impacts of emerging and disruptive technologies on the company’s business and consider new approaches to the company’s management and organisation.
Entrepreneurs will be able to gain exclusive access to the “MIT Knowledge Base”, which enables companies to explore emerging technologies that may impact their industry, learn about relevant research at MIT, and identify faculty members working in their company’s area of interest.
According to Karl F. Koster, Executive Director of MIT Office of Corporate Relations, the University of Wales is joining an exclusive group of organisations that can, through the ILP programme, gain access to the world class expertise at MIT.
“Blue chip organisations from across the globe turn to the ILP for professionally coordinated access to MIT experts, research facilities, and information resources that will help them bring innovation to market. The programme offers streamlined access to MIT’s intellectual capital, and enables companies to stay abreast of new technology developments, anticipate changes in the marketplace and sustain growth and profitability. Currently, nearly 200 of the world’s leading companies partner with the Industrial Liaison Programme and I am pleased that the University of Wales Global Academy has joined this group of innovative organisations”.
Founded in 1861, MIT has produced 75 Nobel Prize winners, seven of whom are still working within the institution. With just over 10,000 students, it attracted £383 million of external research funding last year. More importantly, its success in commercialising research is unrivalled globally. For example, it has been estimated that the 25,800 currently active companies founded by MIT alumni employ about 3.3 million people and generate annual world sales of £1.5 trillion, producing the equivalent of the 11th-largest economy in the world.
Further details of how to join the University of Wales Global Academy can be found at www.globalacademy.org.uk