Tennessee ranks 8th in the country for the volume of federal grants its university research centers receive, but those dollars are not paying off in terms of new products, companies and jobs.
The Tennessean reported statistics from the Kauffman Foundation showed the state ranks 41st in the number of jobs created from research dollars. But several programs around the state are trying to make sure that promising ideas don't languish for lack of money and resources to develop them. The newest initiative is the state-funded Tennessee Technology Development Corporation’s Launch Tennessee. Launch Tennessee is expected to be in place by September. Corporation President and CEO Brad Smith said the goal of the program is to connect capital with technology and entrepreneurs.