The document discusses challenges faced by university entrepreneurs in commercializing their research and innovations. It notes that while universities like Penn State compare favorably to Stanford in areas like research spending and cost of living, they lag significantly in access to venture capital funding. This is because 94% of venture capital investments are concentrated in just 12 major metro areas, making it very difficult for would-be entrepreneurs in places like State College to obtain the funding needed. The document argues that an alternative to seeking large venture capital investments is needed to better support university startups and boost local economic development.

1. University Entrepreneurship The Blue Line Entrepreneur Center at Penn State

4. Sand Hill Road vs. College Avenue SOURCES: *Sperling’s Best Places, **Simply Hired Penn State/State College compares favorably with Stanford/Palo Alto in every measure except risk capital sources 0 85 Venture Capital Firms 6949 5157 College of Engineering Enrollment $607 Million $694 Million University Research Expenditures 40%** 43%** Adults with Graduate Degrees 69%** 74%** Adults with College Degrees $7,303* $7,606* Spending per K-12 Student 45,638 57,809* Population State College Palo Alto 14.1 27.7 Average Commute (Minutes) $324,900* $1,415,100* Median Home Cost 99.08* 234.42* Cost of Living (U.S. Average=100)

5. Happy Valley twice as cheap as the Silicon Valley

10. 94% of Venture Capital Investments are in Just 12 Metro Areas SOURCE: PriceWaterhouse Coopers MoneyTree Report

13. Schools in Top 12 Venture Capital Areas 1.89% $ 8,431,700 $ 445,585,000 Texas 2.54% $ 3,349,612 $ 131,814,265 Arizona State 3.22% $ 13,234,235 $ 411,126,907 CalTech 3.34% $ 20,849,993 $ 623,958,100 Harvard 3.35% $ 21,233,214 $ 632,973,484 Colorado 3.59% $ 43,500,000 $ 1,212,800,000 MIT 3.87% $ 36,199,485 $ 936,360,325 Washington 4.29% $ 8,478,309 $ 197,683,529 Georgetown 5.19% $ 16,805,484 $ 323,843,000 Georgia 6.37% $ 193,499,879 $ 3,035,949,000 UC System 6.71% $ 27,183,583 $ 404,962,000 UMass 8.61% $ 29,990,550 $ 348,439,588 Northwestern 8.77% $ 61,310,739 $ 699,211,807 Stanford 9.34% $ 42,900,000 $ 459,114,540 Florida 69.93% $ 147,412,824 $ 210,804,000 NYU ROI Licensing Revenue Research Expenditures

14. Underperforming Schools 0.15% $ 947,000 $ 652,328,819 Ohio State 0.29% $ 1,879,542 $ 656,634,000 Penn State 0.32% $ 1,688,857 $ 535,846,792 Arizona 0.39% $ 1,817,319 $ 467,724,048 Georgia Tech 0.39% $ 1,277,420 $ 323,861,560 Nebraska 0.41% $ 2,400,184 $ 583,996,531 North Carolina 0.53% $ 1,282,913 $ 240,280,186 Tennessee 0.60% $ 1,873,489 $ 313,826,837 Maryland 0.70% $ 4,124,547 $ 589,637,000 Duke 0.98% $ 3,823,581 $ 388,500,000 Purdue 1.01% $ 6,125,000 $ 605,341,000 Cornell ROI Licensing Revenue Research Expenditures