Research university impacts are difficult to measure, but vital to understanding the economic development surrounding these universities. This study examines whether research universities in the United States contribute significantly to regional economic development and whether agglomeration economies explain earnings per worker based on university presence or not. Drawing on county-by-county data for the first time, more precisely highlights more specifically the differences between regions with universities and regions without. The effects of university presence, federal, state and institutional research and development expenditures, and industry presence on earnings per worker are tested using multivariate regression analysis. The study finds that university presence alone impacts the presence of industries related to science and technology. University impact measurements are becoming more important as universities compete for government funding.
In April of 2013, Colorado College hosted a momentous entrepreneurial event for its students. The Big Idea was a pitch event where Colorado College students presented their project idea before a panel of five judges in order to compete for $50,000 in funding towards the project. The panel reviewed the project ideas based on financial stability, effect on quality of life, feasibility and presentation, and the potential impact of the project on the world. In this video clip, entrepreneurs Alex Byers, Halsey Landon, Hanna Berglund, Leslie Muzzy, Stanley Sigalov, and Zach Atchinson present their Big Idea, Mobile Munchie Machine.