UNIVERSITIES DRIVE THE KNOWLEDGE ECONOMY. A societal commitment to creating and funding excellence in research institutions, cutting-edge science and peer-reviewed publications, and the submission of technology patents is a pre-requisite for an emerging Knowledge Economy. These patents generate licensing revenues for the university and spinout companies. The trickle-down on local economies can at its best generate a Silicon Valley or a Boston. But it takes a significant commitment, expertise, and a realization that the process is very inefficient.