Baylor University, Texas Business Journals Unveil Business Outlook and University Research Partnership Report
Baylor University and the Texas Business Journals have unveiled the results of a research partnership that provides insights from business leaders across the state. Almost 600 Texas business leaders responded to surveys during November on topics related to the state’s business landscape, growth projections, business concerns and the role of higher education in preparing the workforce and partnering to find solutions to industry challenges.
The information aims to spark meaningful conversation and innovative ideas about university-industry partnerships.
Click here for complete results; see below for articles in Dallas, Houston, Austin and San Antonio journals.
“Education is the backbone of our economy. As the business landscape grows and adapts to changing technologies, resource availability, regulations and worldwide competition, higher education must be nimble in the ways it prepares graduates to contribute to the future of a wide range of industries,” Baylor University President Linda A. Livingstone, Ph.D. said.
“Further, research and innovation will play a vital role in the future of Texas businesses. As Baylor invests in a growing research enterprise and the pursuit of the highest level of research excellence through designation as a Research 1 university, it is important to partner with an organization like the Texas Business Journals whose readers have their fingers on the pulse of Texas’ business climate. This ‘state of the state’ look into the future provided by CEOs, entrepreneurs, and small business leaders provides valuable insight into the opportunities and challenges of industry-university research partnerships to solve real-world problems.”
The survey’s key findings include:
- Eight in ten business leaders say their company is somewhat or extremely involved in solving industry problems; the same number believe universities should be involved as well.
- Two-thirds of respondents believe universities have a moral responsibility to engage in research and discovery.
- Nearly three-quarters of business leaders believe it is important to Texas to have more research universities in the state to be competitive.
- Business leaders’ confidence in their businesses, industry and the Texas economy is significantly stronger than in the national economy.
- Texas start-ups find obtaining capital/funding and finding talent are the biggest obstacles to success.
The project’s research focused on executives working in Texas’ major markets: Dallas, Houston, Austin and San Antonio. Among the survey respondents are business leaders in fields such as energy, real estate, finance, engineering and nonprofits, and representing organizations ranging from small businesses to billion-dollar corporations. Forty percent of the respondents identified as owners/partners, presidents/principals or executive-level managers of their companies.
University and business partnerships remain of key interest to leaders across the nation and in Texas, with research universities serving as economic engines in their region. In August, Baylor officially announced plans to pursue Research 1/Tier 1 recognition as a doctoral institution with the “highest research activity” as defined by the Carnegie Classification of Institutions of Higher Education. Recognized by U.S. News and World Report as a leading innovative university, the University ranked among the top 50 ‘Most Innovative Schools’ in the country.