Thursday, July 14, 2011

Science Foundation Arizona touted as economic engine

Science Foundation Arizona is more than tripling state investments in job and business development in science and techology arenas.

An annual review by Battelle Technology Partnership Practice found that "since it began disbursing competitive grants in fiscal year 2007 through 2010, the cumulative impact of SFAz grants has led to:

· The creation of 1,524 direct jobs and thousands more indirect jobs

· The establishment of 16 new technology companies

· 1,168 scientific publications

· 120 patents filed and/or issued

· 12 new technology licenses in place

During the first three years (2007-2009), the state allocated $77.6 million for matching fund investments from the private sector, of which $63.4 million has been invested in university and nonprofit research funding initiatives. By the end of 2010, return on investment was more than 3-to-1, generating an additional $199.5 million in funds from industry, Federal, venture capital, and other sources, boiling down to $3.15 for every $1 invested by the state in research."

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