DETROIT – The Association of Public and Land-grant Universities (APLU) today named Wayne State University as one of six universities finalists for its 12th annual Innovation & Economic Prosperity (IEP) Awards.
“We are beyond proud to be named a finalist for APLU’s IEP Award,” said Ned Staebler, vice president of economic development at Wayne State University and president and CEO of TechTown Detroit. “It is a testament to the university’s commitment and proven track record in promoting entrepreneurship and innovation as drivers of inclusive economic development and regional competitiveness.”
In 2019, APLU recognized Wayne State University with the IEP Talent Award and in 2023 renewed its IEP award, originally given in 2014, for five years.
Winners will be announced during the association’s annual meeting in November. The six finalists are Wayne State University, the University of Alabama at Birmingham, East Carolina University, the University of New Mexico, the University of Memphis and the University of Texas at San Antonio, where Wayne State University President Dr. Kimberly Andrews Espy previously championed economic development and innovation. The finalists are competing for several awards that recognize exemplary and innovative case studies on the impact of economic engagement:
- IEP Talent Forgivewhich recognizes exemplary initiatives in the field of education and human resources development.
- IEP placementwhich recognises exemplary initiatives that contribute to social, cultural or community development.
- IEP Innovation Awardwhich recognises exemplary initiatives that promote innovation, entrepreneurship and technology-based economic development.
All universities are finalists for the IEP Award for Economic Engagement and Connectionsthe main prize of the competition, which recognizes overall excellence in all three award categories.
Wayne State University contributes $2.75 billion annually to the economy and is Detroit’s 11th-largest employer. Of its 300,000 alumni, 80% continue to live and work in Michigan. In TechTown’s 20-year history, the university’s nonprofit entrepreneur center has raised more than $408 million in seed and growth capital and created more than 2,346 jobs. In 2023 alone, TechTown supported 1,059 entrepreneurs. Of those entrepreneurs, 80% identify as Black, Indigenous, and people of color; 63% identify as Black/African American; 65% use the pronouns they/theirs/theirs; and 11% are immigrants to the U.S.
As defined by APLU’s Economic Engagement Framework – a set of tools and publications to help institutions better understand, measure and communicate their work on economic engagement – Universities work with their public and private sector partners in their states and regions to promote economic growth, competitiveness and opportunity through a variety of efforts across all categories.
“Congratulations to our 2024 IEP Awards finalists for their outstanding efforts to support talent development, advance innovation and inspire place-based development,” said APLU President Mark Becker. “We are excited to spotlight the exemplary work of our IEP Award finalists in driving innovation and prosperity in their regions.”
To be eligible for an IEP award, an institution must first receive the IEP designation from APLU, which recognizes institutional commitment to regional economic development. To receive the IEP designation, universities conduct a thorough self-study of their economic engagement activities, which includes input from external stakeholders. As part of the self-study, each institution identifies areas for growth and improvement within its economic engagement and develops an improvement plan. This work demonstrates a commitment to continuous learning and improvement in this type of engagement, which is critical for universities and their regional partners.
Since the program’s launch in 2012, more than 85 institutions have been appointed as IEP representatives.
