FOR IMMEDIATE RELEASE; Wednesday, January 19, 2005
CONTACT: Mary Lehecka Nelson, 773-3301
Ustad Named Director of Commercialization Office
Pierre, SD - Mel Ustad will be the state's first Director of the Office of Commercialization, Jim Hagen, secretary, Department of Tourism and State Development announced today, January 19, 2005.
"This is the first time the state will have an Office of Commercialization," Hagen said. The creation of the office is part of the state's 2010 Initiative goal to become a recognized leader in research and technology development.
Hagen said the purpose of the office is two-fold. "The first function of the office will be to coordinate technology transfer from university and private research centers to the private sector. The second function is to facilitate the commercialization of that research," he said.
Ustad is well suited for the position, according to Hagen. "Mel has a wealth of experience and expertise in both research and commercialization. He has been active in research for nearly 20 years," he said. Ustad is currently serving as the Interim Vice President for Research at the University of South Dakota.
The new director said he plans to focus on trying to create new technology ventures at the universities and more effectively coordinate the entrepreneurial activity of various entities in the state. "It's so important because the 21st century economy is really being driven by technology and research and we need to be a part of it. There is no question that future economies will be largely based on innovation and intellectual property," Ustad said.
Ustad will work closely with Dan Farrington, Director of Research with the Board of Regents, to effectively identify innovations from the research end that have potential for commercialization. "The ideas and the potential are definitely there. We just need to identify these good ideas and convert them into successful commercial products or businesses in South Dakota," Ustad concluded.
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