Fund aids schools to turn studies into venture

Technology – The new development fund seeks $14 million to help universities commercialize their research

As managing director of the Beaverton investment firm Norwest Technology Ventures, Gordon Hoffman expects a return on his money. Profits generated by his latest outlay, though, go not to him but to Oregon’s universities.

Hoffman and business partner Bill Newman were among the first donors to a charitable fund launched Thursday designed to help public universities commercialize their research.

The new University Venture Development Fund will seek $14 million in private contributions to study whether technologies developed at those schools have commercial potential. Companies that emerge using the schools’ technologies will be eligible for grants to help get started.

MIKE ROGOWAY
The Oregonian Staff

Full Story: http://www.oregonlive.com/business/oregonian/index.ssf?/base/business/1191551144230690.xml&coll=7