New NM Tech president pushes `spirit of entrepreneurship' - Albuquerque Journal

New NM Tech president pushes `spirit of entrepreneurship’

The New Mexico Institute of Mining and Technology’s new president, Stephen Wells, hopes to build a “spirit of entrepreneurship” throughout the college campus in Socorro.

Wells, who replaced longtime leader Dan Lopez as president in July, told the Albuquerque Economic Forum on Wednesday that market-based thinking can enhance students’ employment prospects after graduation and generate more university income through commercialization of new technologies.

“We have an opportunity to build a sense of entrepreneurship across campus so that students understand risk-taking and what it takes to be a business person,” Wells said. “That will make the engineering and science degrees they earn more marketable. And with state funding declining, it can be a lever for new sources of money.”

Tech has already had some marked success in technology transfer. Today’s globally recognized “nicotine patch” was invented there, earning tens of millions of dollars for the college. More recently, Tech spin-off firm RiskSense has gained major traction nationally for its novel products and services in the cybersecurity industry.

To accelerate such efforts, the university launched a Center for Leadership in Technology Commercialization in 2014 that provides entrepreneurial training for students through classes, boot camps and hands-on experience. Students work in teams to take university innovations to market.

“We want to tap more opportunities like the nicotine patch,” Wells said. “We have so many opportunities, but we need to be sharper, more effective and more efficient on campus to bring them to fruition.”

New Mexico Tech is the smallest of the state’s three research universities, with about 2,200 students and about 1,100 faculty and staff. But it’s recognized as a premier university in terms of value. It’s ranked No. 1 nationwide in value for students studying engineering and physics, and No. 22 for computer science, Wells said.

A broad range of research activities helps prepare students for careers, while leading to new, innovative discoveries that address social issues. That includes everything from astronomy and atmospheric research to investigative work in geology, mining, petroleum production and explosive materials.

That research has generated new sources of income. To date, for example, the university’s Energetic Materials Research and Testing Center has managed about $500 million in research and work, such as training first responders and developing technologies and protocols to improve security for buildings and vehicles.

That, in turn, has led to a lot of new, potentially marketable discoveries.

“We have a lot of applied research through our basic research,” Wells said. “That has created great opportunities for innovation, intellectual property and ultimately commercialization.”

Home » Business » Most Recent Biz News » New NM Tech president pushes `spirit of entrepreneurship’

Insert Question Legislature form in Legis only stories




Albuquerque Journal and its reporters are committed to telling the stories of our community.

• Do you have a question you want someone to try to answer for you? Do you have a bright spot you want to share?
   We want to hear from you. Please email yourstory@abqjournal.com

taboola desktop

ABQjournal can get you answers in all pages

 

Questions about the Legislature?
Albuquerque Journal can get you answers
Email addresses are used solely for verification and to speed the verification process for repeat questioners.
1
Grammer: What Rick Pitino to St. John's means for ...
ABQnews Seeker
Odds & ends around UNM hoops, ... Odds & ends around UNM hoops, including the status of next season's Iona game and an update on the first Lobo in the transfer ...
2
Volcano Vista's Alter commits to the University of the ...
ABQnews Seeker
Volcano Vista's 6-foot-9 Sean Alter, who ... Volcano Vista's 6-foot-9 Sean Alter, who was integral as the Hawks won their second straight Class 5A state basketball championship earlier this month, has ...
3
Kids connect with nature at ABQ BioPark’s spring break ...
ABQnews Seeker
Nearly 50 elementary school kids are ... Nearly 50 elementary school kids are spending all or some of the five days of their spring break visiting the attractions that make up ...
4
Prep notes: Schools making quick use of APS out-of-state ...
ABQnews Seeker
When Albuquerque Public Schools made it ... When Albuquerque Public Schools made it known they were opening the door for out-of-state travel for its spring sports programs this year, the La ...
5
Albuquerque Metro Championship finals delayed indefinitely
ABQnews Seeker
Neither the metro softball final between ... Neither the metro softball final between Volcano Vista and La Cueva, nor the baseball final at Rio Rancho between the Rams and La Cueva, ...
6
Photos: Rio Rancho take on La Cueva during the ...
ABQnews Seeker
7
Supreme Court seems split in Navajo Nation water rights ...
ABQnews Seeker
WASHINGTON — The Supreme Court seemed split ... WASHINGTON — The Supreme Court seemed split Monday as it weighed a dispute involving the federal government and the Navajo Nation's quest for water from ...
8
Wind and scattered rainfall in store for Albuquerque this ...
ABQnews Seeker
Travellers should beware of dicey road ... Travellers should beware of dicey road conditions, particularly on the plains.
9
Four deaths in 24 hours: Details emerge in weekend ...
ABQnews Seeker
Police identify 3 of 4 homicide ... Police identify 3 of 4 homicide victims.