Washington University has created a new leadership post designed to advance innovation across its campus.
The university named Dedric Carter to the newly created post of vice chancellor for innovation and chief commercialization officer. Carter’s new position seeks to boost the university’s innovation efforts by accelerating the entrepreneurship activity of Washington University’s intellectual property and research through licensing deals and startup creation.
“Our goal is to elevate the entrepreneurial impact of the university on the economy of the region and beyond,” Chancellor Andrew Martin said. “As CCO, Dedric will have oversight of the Office of Technology Management in addition to many of our existing entrepreneurial programs. We are fortunate to have a leader of his caliber to step into this critical role for the university.”
Carter’s new role comes after he has served as vice chancellor for operations and technology transfer at Washington University and a professor of practice in the McKelvey School of Engineering and Olin Business School. Carter joined Washington University in 2013 and was previously senior adviser for strategic initiatives in the Office of the Director at the U.S. National Science Foundation. In addition to his roles at Washington University, Carter is chairman of the Missouri Technology Corp.
In an interview with the Business Journal, Carter said his new role comes at a critical time, given the Covid-19 pandemic and its impact on innovation.
“You look at the pandemic that we’re coming out of, the largest in a hundred years, and that’s forced people to be creative in ways they have not. It’s forced people to rethink the way they process for engaging, for interacting, for connecting. It’s given some time to declutter intellectually from other things and focus on their research. There’s a really huge push in volume of new ideas that are coming out as a result of this new awakening," Carter said.
Washington University has played an integral role in St. Louis' entrepreneurial economy, with prominent local startups like oncology firm Wugen and medtech companies SentiAR and PierianDx spun out of research from university faculty. Carter said that while sectors like medical devices and drug development may be more obvious areas of innovation for Washington University, he said his new role will focus on fostering technology development in all of the university’s schools.
“There’s some places that have some really good licensed technology that might be surprising,” Carter said. “Not all research is translatable and not everybody will say that we want to start a company, but the entrepreneurial spirit goes beyond just startups. Startups are one measure, but (so are) things that are licensed and patented.”
Carter said he is starting his role as vice chancellor for innovation and chief commercialization officer by doing a “heck of a lot of listening,” with plans to meet with individuals from every school within the university as well as external stakeholders. Meanwhile, Carter said he plans to move quickly to advance Washington University’s innovation efforts.
“I feel strategically bullish in this space and that now is a very important time for us to get it right,” he said. “We’re going to be changing the tires as we’re moving at 70 miles per hour just because that’s what we’ve got to do. That really is the entrepreneurial spirit."
