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UNC,long a model of affordability and excellence has sharply increased tuition over the last decade Since 2000 tuition and fees have risen by 150 percent for students across North Carolina’s university system And despite protests from students parents and fomer trustees the statewide system’s board is expected to another tuition increase tomorrow The situation is not unusual Across the country the state university funding model is collapsing Thorp argues that UNC and other state universities play a vital role in preserving the American middle class For the 11th consecutive year Kiplinger’s UNC as the best-value public university in the United States Its $7009-a-year in-state tuition is the second lowest of leading state universities Only 35 percent of its students take student loans And the average post-graduation student debt burden is $15500 UNC is an engine of social mobility Thorp argues that helps prevent the middle class from splitting“You stop it through access to education” he said “We’ve got the best financial aid profile in America”After providing billions of dollars in research grants to universities members of Congress foundations and taxpayers are demanding that academics do more to address real-world problems Economists argue that the United States must combine its two strongest remaining economic assets — the world’s best research universities and venture capital system — to reinvent the American economy“The bill has come due” said Buck Goldstein Thorp’s co-author and the UNC’s “entrepreneur in residence” “All of the stakeholders are demanding more impact” (A business Goldstein founded was later purchased by Thomson the parent company of Reuters)Some academics deride the approach They say that encouraging professors to create “spin-off” companies is the latest example of a gluttonous private sector devouring public resources Business pursuits divert resources from pure scientific research graduate students are used to help professors start businesses and researchers distort studies involving subjects where they have a financial interestThorp and Goldstein insist they are not backing the commercialization of academia Their definition of entrepreneurship is a broad one they say that includes social entrepreneurship“It’s not Donald Trump” Goldstein saidFormer Harvard University President Derek Bok whose book “” looked at the phenomenon said those abuses have so far occurred only on a small scale He called for strict vigilance of faculty business ventures — but also for a lowering of expectations Bok cautioned that universities are not “some kind of magic bullet that is going to do a whole lot for America’s competitive position” in the world economyPrivate companies started by professors and researchers fail at the same rate as other firms according to Bok Universities receive royalties for intellectual property developed by their staff but aside from MIT and Stanford the payments total only a few million dollars a year Thorp’s first $25 million startup in fact went out of businessA handful of academic blockbusters do exist The top earner is an anti-AIDS drug developed by professors at Emory University Second is Gatorade a drink developed by professors at the University of Florida to hydrate its football playersThorp cited UNC chemistry professor Joe DeSimone as a best-case scenario Last year a private company DeSimone founded with the help of his university research received a $10 million investment from the Bill and Melinda Gates Foundation The funding will help the company develop new vaccines for malaria and other diseases The startup also works with Procter & Gamble and other multinationalsA visit to the company’s gleaming new high-tech offices provides a glimpse of the potential of UNC’s model Ben Maynor a 37-year-old North Carolina native with a Harvard undergraduate degree and a doctorate from Duke in chemistry said he assumed he would have to move to Boston or Silicon Valley to find work Instead Liquidia allowed him to stay home The company employs 50 people and hopes to expand in North Carolina not overseas“We have a new social contract with society” said DeSimone referring to the federal research grants universities receive “Those dollars are precious We’ve got to funnel them into solving some of the world’s biggest problems”Thorp is right Universities must change We can no longer afford to have our greatest thinkers enjoy the “life of the mind” in isolation The question is whether their gifts can meet the needs of a beleaguered societyPHOTO: University of North Carolina at Chapel Hill Chancellor Holden Thorp center participates in a Digital Town Hall event in Washington DC UNC completes “The Research Triangle, Brooks makes an important point.
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