ASU Enterprise Partners

ASU Enterprise Partners is a private, nonprofit organization in Tempe, Arizona, comprising distinct entities that raise, create, and invest resources for Arizona State University. ASU Enterprise Partners is a 501(c)(3) organization separate from the university.

ASU Enterprise Partners subsidiaries engage in development, applied research, technology transfer, realty, and collaborative research initiatives. It is governed by a volunteer board of directors.

Mission and Values

ASU Enterprise Partners' mission is "To advance the success of Arizona State University as a New American University."^[1]

History

ASU Enterprise Partners launched on July 1, 2016,^[2] to generate new sources of revenue for one of the nation’s largest public research universities.^[3] The organization’s five nonprofit entities are the ASU Foundation for A New American University, ASU Research Enterprise (ASURE), Arizona Technology Enterprises (AzTE), University Realty LLC, and the Research Collaboratory at ASU.

These partners support ASU with funds provided by private and corporate philanthropy; with revenue derived from the transfer of ASU-created technology and other intellectual property; and with revenue generated through mission-oriented enterprises. The president and CEO of ASU Enterprise Partners is R.F. "Rick" Shangraw Jr.

Partners

The ASU Foundation for A New American University

The ASU Foundation for A New American University is a private, nonprofit organization that oversees the development efforts of the ASU Enterprise Partners by raising and investing private contributions to ASU. Individual support of the university through the foundation includes endowment gifts, annual gifts, donor-advised funds, and employer gift-matching programs. Corporate and foundation benefactors also provide resources. These funds become part of a foundation portfolio invested by an outsourced chief investment officer. The foundation’s nonendowed funds provide more than $80 million annually to ASU. The chief operating officer and managing director of the ASU Foundation is Gretchen Buhlig.

University Realty LLC

University Realty LLC implements three strategies: monetization of gifted buildings and land; acquiring and disposing of real estate; and ground-up development of office, industrial, and multi-family projects. University Realty LLC holdings include:

• SkySong Innovation Center — a 42-acre, mixed-use development in Scottsdale, Arizona.
• Fulton Center — a six-story, 156,000-square-foot office building in Tempe, Arizona, home to the ASU Foundation, ASU leadership, and several restaurants.
• The Brickyard on Mill — a seven-story, 202,000-square-foot mixed-use project in Tempe, Arizona, occupied by ASU departments and commercial restaurants.

The chief executive officer and managing director of University Realty is M. Randall Levin.

AzTE

Arizona Technology Enterprises is a private, limited liability company that works with ASU faculty, investors, and industry partners to disseminate ASU discoveries and inventions to the marketplace. Since its inception in 2003, AzTE has received more than 2,500 invention disclosures, launched more than 95 startup companies, and executed more than 775 license and option agreements.^[4] During that time, ASU-linked companies have attracted more than $600 million in investment capital. The chief executive officer and managing director of AzTE is Augustine V. Cheng.

ASURE

Arizona State University Research Enterprise is a private, nonprofit ASU Enterprise Partners affiliate that performs applied research, development, and consulting. ASURE teams comprise members of ASU’s 3,000-plus faculty in sustainability, law, engineering, business, the sciences, and biodesign. Customers include the U.S. Department of Defense, the intelligence community, and other federal government agencies.

Research Collaboratory at ASU

The Research Collaboratory equips faculty, staff, and students with resources to rapidly launch new initiatives. The Collaboratory selects ideas generated at ASU and assists their creators with legal and governance support and financial reporting, helping bridge the gap between discovery and the marketplace. The Collaboratory also aids certain international initiatives of ASU. The Collaboratory’s first program, the National Biomarker Development Alliance, is a coalition of academics, patients, and advocates developing evidence-based standards for biomarker development to improve the industry. The chief executive officer and managing director of RCASU is Ji Mi Choi

Shared Services

Shared Services comprises teams that work in support of the various activities of the ASU Enterprise Partners, offering investment, legal, financial, information systems, human resources, and communication services to the diverse subsidiaries.

References