Higher education institutions play an essential role in Texas’ global economic competitiveness. Building a Talent Strong Texas, the state’s strategic plan for higher education, recognizes that the state’s future competitiveness requires a much stronger research and development (R&D) infrastructure and sets ambitious targets for the state:
- Increase of $1 billion in annual private and federal research and development expenditures by 2030
- 7,500 research doctorates awarded annually by Texas institutions of higher education
As engines of innovation, Texas colleges, universities, and health-related institutions develop important research, discoveries, and technologies that change the lives of people across the world. More intentional and focused efforts to translate academic research into commercially viable products, a process called technology transfer, is important to maximizing the benefits of research discoveries from higher education institutions and realizing the state’s potential to be a global leader in innovation.