Congress should direct NSF to establish stronger university entrepreneurship metrics and use them to provide stronger incentives for universities to commercialize research.
Congress should direct the National Science Foundation, working in partnership with National Institute of Standards and Technology, to develop a metric by which universities report entrepreneurship and commercialization information annually. The reports should include data on faculty new business starts, spin-offs of new companies from universities, license agreements and patenting, and industrial funding of research. Congress should further direct all major federal research funding agencies to factor these performance metrics into their decisions to award research funds to a university or university researcher. Applicants from universities that successfully promote entrepreneurial spin-offs/start-ups or that receive more in industry research funding would be more likely to have their principal investigator grants funded.