1. Source: The New York Times
This is what happened when the administration announced its public-private partnership to buy troubled assets from major banks on March 23rd. As the New York Times said, the government got a do-over from Wall Street. While I’m not asking for a do-over for universities, I do think universities need to change, for our own sake, and for the sake of the economy. Universities play a very important role in the economy, and we take that for granted. We also let others take that for granted. I don’t think we should do either anymore.

2. Changing the Trajectory of the Economy; of Universities
Michael M. Crow / Arizona State University
Milken Institute Global Conference
April 2009
Source: International Monetary Fund.

3. How do we improve the quality of life in
our communities?

4. How do we change the trajectory of the economy?

5. How do we
invent or reinvent
whole industries?

6. How do we build
new institutions?

7. How do we educate for impact?

8. Recovering egalitarian values in the economy
Source: International Monetary Fund.

9. We need to radically rethink how access, excellence and impact come together in
higher education.
We need to design the institutions we need, not just pour money into the existing system and hope something better or more will emerge. Marginal change is not enough. Only whole scale
radical innovation will change the trajectory of our economy.
We need to be applying the knowledge we generate, and educating students about how to apply their knowledge.

10. Design aspirations for a New American University
01. Leverage Our Place
02. Transform Society
03. Value Entrepreneurship
04. Conduct Use-Inspired Research
05. Enable Student Success
06. Fuse Intellectual Disciplines
07. Be Socially Embedded
08. Engage Globally

11. Building institutions for innovation
Meeting the challenges before us (Global Institute of Sustainability)

12. Building institutions for innovation
Maximizing the societal impact of research
(Biodesign Institute)

13. Building institutions for innovation
Developing new industries
(SkySong)

14. Building institutions for innovation
Reaching new heights in creativity (Herberger Institute of Design and the Arts)

15. Building institutions for innovation
Keeping pace with a changing world
(Knight Center for Digital Media Entrepreneurship)

16. Obliterating the false dichotomy of access vs. excellence
16,000 new students added
(while increasing diversity
and graduation rates)

17. Obliterating the false dichotomy of access vs. excellence
500 new faculty added (while increasing percentage of
Academy members)

18. Obliterating the false dichotomy of access vs. excellence
7 million square feet of academic space added (including 1 million of world
class research space)

19. Obliterating the false dichotomy of access vs. excellence
New locations added (including downtown Phoenix campus and SkySong, while increasing investment in existing campuses)

20. Obliterating the false dichotomy of access vs. excellence
Research expenditures topped $300 million (joining the list of top 20 research universities without a medical school)

21. Obliterating the false dichotomy of access vs. excellence
Significant investments from municipalities (while also receiving the largest private
gifts in ASU’s history)

22. Educating for impact
For us, the answer to both of these questions is: educate students to be entrepreneurs. Provide an entrepreneurial education that emphasizes IMPACT—taking the work you do out into the
world, and creating change; improving communities; innovating.

23. Courses
Companies

24. Community
Courses
Companies
Students

25. Community
Economic Development
Courses
Companies
Entrepreneurship Education
Students

26. University as Entrepreneur Community Economic Development Courses
Companies
Entrepreneurship Education
Students

27. Scaling Impact
Preparing for an Arizona of
10 million people

28. Scaling Impact
Producing 30,000 more college graduates in AZ each year

29. Scaling Impact
Priming 650,000 K-12
students in Maricopa County

30. If we want the economy to be innovative, adaptive and high speed, then our universities will need to be as well.

31. Rethinking excellence, access and impact Excellence (inclusive)
Impact (integrated)
Access (broad)

32. What are the great US universities being built today?

33. How do we innovate rather than replicate?

34. How do we create solutions to global challenges?

35. Thank you.