Chancellor Michael Martin is considering renting out expensive University equipment to private companies as an additional form of revenue.Martin wants to better utilize equipment and facilities the University already has to generate revenues and promote relationships with private companies to augment learning.He said an agreement in which the University provides use of its expensive equipment — like a spectrometer — to private companies after 5 p.m. could be profitable for the University.Research Associate Azeem Hasan works with the mass spectrometers — an expensive and highly specialized piece of equipment — on campus.Hasan said it would be possible in some cases for the University’s equipment to be used by outside interests, but most equipment is too specialized just to be used by one group part of the day. The University’s specialized equipment often becomes obsolete four times faster than the University can wear it out, so renting it out would make better use of the equipment’s lifespan, Martin said.Martin said the University needs to make greater use of its facilities such as the PMAC and Tiger Stadium for events.The University is receiving a minimum of $250,000 to rent out Tiger Stadium for a country music festival later this year. The University also gets $2 per ticket sold, according to a letter of agreement that is subject to change when the final contract is signed.”Its just a matter of taking a different perspective and asking ourselves the question, ‘What are the things that we already own for which we have relatively low cost of operations that can generate positive revenue,'” Martin said.Following the successful integration of Electronic Arts on campus, Martin wants to invite more private companies onto campus to augment student learning.”I don’t want to just be a place of business,” Martin said. “There are hundreds of parks like that. I want to be an attraction where we can bring in business that augments our research and education.”He said a company is considering bringing nuclear engineering and nuclear training facilities to the University. That company would build a nuclear power plant control room simulator to train and certify people. The company would bring attention to the University’s emerging nuclear engineering program, Martin said. Martin also said EA is considering bringing its creative wing here but hasn’t commited yet.Martin said the state is willing to fund a new facility for EA, of which which the University could use half.”We get a chance for students to be involved in the cutting edge of computer entertainment,” Martin said. “We get a chance for our faculty to collaborate with the people on the cutting edge of the industry. We get more space. We get a lot of attention and the community will love it.”
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Martin considers equipment rentals
March 11, 2010