Michigan State University Foundation changes name to Michigan State University Research Foundation
Adding “Research” to name is a better reflection of the activities of the organization and eliminates misconceptions
CONTACT: Rod Poland, MSU Foundation
EAST LANSING, Mich., SEPTEMBER 27, 2022 –– The Michigan State University Foundation has changed its name to the Michigan State University Research Foundation, effective immediately.
The new name will also be reflected and more closely associated with programs, subsidiaries and facilities that are owned, managed, and operated by the MSU Research Foundation that have had significant growth and impact in recent years.
The MSU Research Foundation is a 501(c)(3) and was formed in 1973 by former MSU President Dr. Clifton E. Wharton, Jr. During that time, it became apparent that federal and state funds would be increasingly inadequate in meeting the challenges Michigan State University would face in the years ahead. Like many universities, MSU began fundraising programs to enrich the campus by hiring faculty members, creating unique facilities along with new research and teaching programs.
The MSU Research Foundation worked closely with the University to steward planned giving of non-cash gifts to the University such as life insurance, artwork, real estate, patents, trusts, annuities, and bequests. The MSU Research Foundation participated in the MSU’s Enrichment Campaign in the mid 1970’s to provide funds for a performing arts center, faculty chairs, a library and museum facilities.
In the mid 1980’s, Michigan State University created the Development Fund in launched the University Capital Campaign with a goal to raise over $160M. At the same time, the royalties created from the Cisplatin and Carboplatin license continued to grow and the MSU Research Foundation also established the University Corporate Research Park on the southwest corner of the MSU campus.
Since 1992, fundraising activities shifted to the Development Fund, which later became University Advancement at Michigan State. The MSU Research Foundation shifted its focus to creating programs to support MSU’s patenting and intellectual property programs.
“Adding the term ‘Research’ to our name is a better reflection of what we do and aligns us closer to many of our peer Research Foundations across the country,” said David Washburn, Executive Director of the Research Foundation. “We can finally eliminate the misconception that we are the advancement and endowment management arms of the University.”
Today, the MSU Research Foundation manages a small endowment built from the success of the Cisplatin and Carboplatin cancer therapeutics discovered at Michigan State in the 1970’s.
Because it’s not the main endowment of the University, the MSU Research Foundation’s endowment serves as a sustainable and flexible resource to assist the university in its strategic plan related to economic development through the commercialization of intellectual property created by student, faculty, and staff of the University.
In addition to managing the investment portfolio, the MSU Research Foundation provides an annual grant to Michigan State University that exceeds $10M per year. In fact, since 1974, the Foundation has granted over $375M to Michigan State University.
Since 2014, the MSU Research Foundation has built up a system of resources and subsidiary organizations that help move cutting edge technologies out of the University through the basis of a startup company. The organizations within the MSU Research Foundation family include:
Spartan Innovations, L3C is a venture creation organization that runs a variety of programs such as Entrepreneurs-In-Residence, an extensive mentor network, the Conquer Accelerator program and has entrepreneurship programs that are run in close collaboration with MSU in East Lansing and Grand Rapids.
Red Cedar Ventures is a pre-seed venture fund that provides early and follow-on capital for start-up companies affiliated with MSU.
Michigan Rise Pre-Seed III Fund, an early-stage pre-seed venture fund that was established in August 2020 with funds from the MSU Research Foundation and the Michigan Economic Development Corporation that invests in early-stage technology ventures from across the State of Michigan.
MSU Research Foundation also has several strategic real estate investments that include the University Health Park, two incubator facilities and over 190,000 square feet of office space populated by new start-up companies and existing corporate partners via MSU.
Today, the MSU Research Foundation has adopted the mission:
“To enhance research, encourage innovation, and facilitate all relevant aspects of economic development through modern commercialization practices, venture creation activity and innovation partnerships.”
In the last seven years, the MSU Research Foundation has made significant contributions to the region and across the state by supporting a robust environment for innovation, entrepreneurship, corporate and regional relationships, and commercialization activities. The MSU Research Foundation has made strategic investments, grown operations, and added new square footage to its footprint in East Lansing and Grand Rapids.
Under the new name, the MSU Research Foundation will adopt a branded house strategy for our subsidiary companies. By utilizing the same identity, we can better tie our family of companies to our broader mission.
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About Michigan State University Research Foundation
The Michigan State University Research Foundation (MSU Research Foundation) is a non-profit research foundation associated with Michigan State University (MSU), the premier land grant university in the nation. The MSU Research Foundation was formed in 1973 is focused on helping MSU achieve its objectives around economic development through the commercialization of intellectual property created by its faculty, staff, and students.
In addition to providing over $10 million in research funding to MSU annually, the MSU Research Foundation owns strategic real estate assets and operates subsidiary organizations focused on technology commercialization and economic development. These organizations - Spartan Innovations, Red Cedar Ventures, and the Michigan Rise Pre-Seed III Fund - are key partners in the MSU Innovation Center along with MSU Business Connect and MSU Technologies.