Since the mid-20th century, university research has been a major contributor to the advancement of knowledge, technological innovation and economic growth in the United States. Research universities are uniquely positioned to make the kinds of long-range investments in basic research that frequently lead to new discoveries and new ideas that were not fully anticipated - sometimes not anticipated at all - when the research began. Other research focuses directly on the search for solutions to national problems and effective responses to global challenges.
Research at Princeton contributes to the economic vitality of the Princeton area and the State of New Jersey by:
- Bringing hundreds of millions of dollars in federal and other external research funding to Princeton each year, much of which is then spent locally;
- Dedicating significant resources of its own to support the efforts of university researchers;
- Pursuing discoveries that can provide a basis for future economic growth, and lead to the development of new technologies, businesses and jobs; and
- Working with other universities, companies and government agencies in New Jersey to find new solutions to a wide range of practical problems.
Catalyst for Discovery
As a major research institution, Princeton University attracts hundreds of millions of federal research dollars to New Jersey each year to develop knowledge that addresses human needs. In recent years, Princeton has dramatically boosted its internally funded research spending. Research expenditures for FY2015, supported by external and internal funding sources, totaled $457.6 million. While most of the University's research expenditures focus on basic research, there has been growing emphasis on developing real-world applications of basic research findings, programs to encourage entrepreneurism and research collaborations with industry partners.
The Impact of Innovation
Educating and encouraging Princeton entrepreneurs
The launch of the Intellectual Property Accelerator Fund to advance researchers' proof-of-concept work, the Keller Center for Innovation in Engineering Education's eHub as a focal point for entrepreneurship, and the Alumni Entrepreneurs Fund to support alumni startups have served to strengthen the state's innovation ecosystem while supporting university students and faculty.