Hanna Holds Hearing for BU and Business Partnerships
8/5/2013 (Updated 8/6/2013 9:52:08 AM)(Source: Jeremy Donovan)
VESTAL -- As the chairman of the Congressional Subcommittee on Contracting and the Workforce, Congressman Richard Hanna was at BU to learn about the relationship between the University and the businesses around it.
"This is a way to take theory and look at it and see to it as the real product in the real world," Hanna said.
"The cost of developing technology is so high that one company alone cannot possibly do it. We provide infrastructure, both intellectual and physical infrastructure, that helps the companies develop their products," said Dr. Baghat Sammakia, Vice President for Research at BU.
BU's success in providing that infrastructure is due in part to its reputation. The school was recently ranked 89th out of 262 universities nationwide.
"This is a world renowned institution right here in Binghamton. A lot of value added product comes from here," Hanna said.
With the days of industrial giants like IBM now more a part of Broome County history than its present, the future lies in start-ups with the help of research from BU.
"We're not going to see 25,000 manufacturing jobs walk through the door any time soon, so companies like Sonostics, that spawn from the University need to become more of the norm, not the exception," said Chuck Schwerin, CEO of Sonostics, Inc.
Hanna said programs like Governor Cuomo's Start-Up New York bill look good on paper, but there are several other issues with New York's approach to business that need to be addressed as well.
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