Virginia universities have invested at least one-billion-dollars in highly sophisticated, expensive equipment for research and development. Some allow entrepreneurs to have access to that equipment and school expertise for a fee.
A panel of lawmakers and experts is working to craft state policies to expand such opportunities in a way that benefits businesses, universities, and taxpayers.
Inventor and former Delegate Joe May co-chairs the panel. May says businesses may need hi-tech equipment that’s too costly to buy.
Public universities are bracing for more budget cuts as the state copes with a $2.4 billion shortfall, but one of those schools is already fighting for its life. Virginia State – one of two historically black universities in the Commonwealth – faces a $19 million shortfall. Students are demanding the president be fired, and Friday the board of visitors will meet to discuss that and other possible changes.
Imagine being a Virginia resident obtaining an Ivy League education at a school such as Harvard—without having to pay all the costs associated with an out-of-state college experience. While that may not be possible at that specific university right now, a new state law authorizing on-line education reciprocity agreements between Virginia and other states could make that a reality in the near future.