Director of Fiscal Analysis & Senior Economist -
Dr. Laura Schultz’s research is based on investment in innovation. While at the Bureau of Economic analysis she took part in developing the BEA/NSF R&D Satellite Accounts. The project measured national investment in R&D intangible capital. Her research continues in that vein, examining the returns to investment in intangible capital. She has examined the rates of return to R&D investment in the manufacturing sector and continues her work by examining the differences in industrial and government investment.
She also is interested in the role R&D spillovers play in the national innovation system. Often firms invest in the creation of knowledge that eventually becomes publicly available, which benefits competitors. Dr. Schultz’s research examines how firms work together to maximize the benefits received from spillovers. Working within CNSE provides an excellent opportunity to view firsthand the collaborations between firms designed to increase the returns to R&D through joint research efforts. Her work on R&D collaborations will develop a model to allow firms to identify the profit maximizing research alliances.
I am working with a team from the Rockefeller Institute to measure the role graduates of SUNY institutions play in the New York State economy. The project has a huge scope, but I have become fascinated by the geographic factors. I want to understand how colleges influence population movement of incoming students, graduates, and employees throughout the state. My area of expertise is technology transfer and economic development. So I am trying to understand how all of the colleges in the SUNY system engage with their local industries and how the graduates of the institutions and the academic programs attract businesses to the regional economies.
As a professor at SUNY Polytechnic Institute, I created the New York Business Plan Competition. It is a statewide initiative that gives students the opportunity develop ventures and pitch their ideas to investors to win seed funding to help them start. The program is designed to give students applied learning experience in entrepreneurship and support emerging entrepreneurs and innovations from New York’s colleges and universities. My research project has tracked the 437 teams and 1,137 students who have participated to date to learn more about the collegiate entrepreneurs and how academic spinoffs grow. The project has provided insights on the backgrounds and academic interests of collegiate entrepreneurs and the support universities provide them. The findings can help reshape entrepreneurship education and technology transfer policies.
My research can help regional governments build strategies for technology-based economic development. Effective policy includes investment in research infrastructure, developing a critical mass of innovators in a related topic, creating workforce training programs for workers at all levels, and incentives to attract firms at all levels of the supply chain. Then once this investment is made, stakeholders must encourage collaboration and coordination between all parties. Too often governments build an expensive laboratory and expect economic growth to follow. I hope that my work can help regional governments develop more comprehensive strategies.
I have always loved numbers and to this day I get excited on days I get to play with data. I like to develop metrics to track emerging technologies. I am also fascinated with effective communication. These days I am experimenting with new ways to visualize data to better illustrate my findings. I am always playing with the latest and greatest software.
I am a commercialization advisor for the startup companies that form at SUNY Poly. I work with students who have invented a technology and are trying to figure out what to do with it. I teach them how to do market research, communicate with investors and stakeholders, and network with potential customers. I have helped launch a handful of successful startups that have gone on to raise millions in investment and revenues. I have also helped dozens of students who have decided entrepreneurship wasn’t for them, but who have taken the lessons they have learned to launch successful careers in industry. I am most proud when I see the leaders that they have become.
I am an avid traveler (50 states, 18 countries, and 5 continents). Now that I have a toddler, I am taking a break from international flights and enthusiastically revisiting the favorites from my youth that are a little closer to home.
Over the years, I have mentored hundreds of young entrepreneurs as they worked to bring their ideas to market. I just haven’t found the idea that has inspired me personally. But when it arrives, I will definitely put my money where my mouth is and become an entrepreneur myself.