Innovation (n) - The process of transforming new ideas into tangible societal impact

Can one idea change the world? At USC Stevens, we believe it can. But to transform a new idea into societal impact, it must make the transition from concept to tangible application.

Innovation isn't just about science and technology.  Innovation can be technological, social, or artistic; it can take the form of start-ups or licenses, new products or services, or even non-profits and new organizational models. It is this broader, more inclusive, definition for innovation that makes it so relevant and powerful within an academic institution.

Our Core Purpose

• Empower USC innovators to make impact with their ideas
  

Our Core Values

• Optimism: finding opportunity in every challenge
• Mutual Success: building community, helping others, and forging win-win situations
• Entrepreneurship: being resourceful and flexible, taking initiative, having persistence, and embracing adventure
• Integrity: promoting mutual respect, trust, and ethical behavior
• Leading by example

Multidisciplinary

USC Stevens harnesses the creative thinking and innovative work behind USC's college, 17 professional schools, and research programs to build a multidisciplinary approach to innovation. From the biosciences and technology to music and cinema arts, USC Stevens promotes an integrated, multidisciplinary approach to education and research -- connecting faculty and students from a variety of fields for a true exchange of ideas and expertise -- to stimulate and inspire innovation.  

Integrated

USC Stevens is the only institute of its kind to identify, nurture, and protect the most exciting innovations at USC, and in turn, provide a central connection for industry seeking cutting-edge innovations in which to invest. This holistic approach to the innovation process enables us to help develop innovators to make greater societal impact, now and in the future.

Entrepreneurial

In the Fall of 2004, USC alumnus and noted venture capitalist Mark Stevens along with his wife, Mary, contributed $22 million to create a new institute at USC. It marks a perfect marriage between two entrepreneurial forces – the University of Southern California and the man who’s firm helped bring such innovators as YouTube, Google, and Cisco to the marketplace.

Practical

With an ever-changing business landscape, it has never been more essential for a USC student to have an education that provides the tools to become successful innovator, now and in the future. It is not only our desire to develop the next generation of innovators who will make societal impact, but too, it is our responsibility as a major research university to foster an environment that supports creativity and innovation.

Pioneering

• 211 faculty and researchers and 333 students submitted ideas to our team,

• 65 investors and 13 inventors participated in First Look LA, a collaborative effort with USC, Caltech, and UCLA,

• We have reached more than 500 students through educational programs such as lectures, grants, mentoring, showcases,

• 479 people are actively participating in our online communities,

• 1350 people attended our innovation showcases,

• Innovators from EVERY ONE of USC's 18 schools have engaged with the USC Stevens team, and

• We opened an office on the HSC campus to ensure that students and researchers there have the same resources just steps away from their labs.
  

From an economic standpoint, we've created substantial impact…

• USC licensees made over $50 million in new product sales based on our inventions, and

• 8 new startups spun out of USC IP, already employing 56 people, most of them in Southern California
  

Coincidentally, for the first time ever, in 2007 Southern California edged out New England to be second only to Silicon Valley in annually invested venture capital dollars, according to Dow Jones VentureSource!

USC Stevens in the last year has also:

• Launched a beta of MatchYard, our new Facebook networking application that allows innovators to link up with each other world-wide (feel free to check it out, and send us your feedback),

• Contributed columns for both Businessweek and Huffington Post and wrote an op-ed for the San Jose Mercury News,

• Established a Student Advisory Board,

• Supported many student competitions and research festivals,

• Provided business support for scores of USC Innovators through a legal office hours program,

• Provided grants to eight faculty in four diverse schools to add innovation to their courses,

• Conducted extensive surveys of venture capitalists, students, and faculty, and

• Began two pilot programs for students with a major retailer and a major philanthropic foundation

Plus, we've grown to a very cool crew of about 30 very talented and enthusiastic team members, committed to making impact with the ideas from USC. We still have a few key positions to fill on the health sciences campus, so if you know of any great candidates with startup, licensing, and business development experience, contact us!

It's been an amazing year for USC Stevens and we are excited about the opportunities ahead. We looking forward to working with you to nurture and inspire innovation in Southern California and beyond.