A new statewide network will coordinate the regional economic development activities of Indiana University, according to an announcement released by the university this week. The Innovate Indiana Network will complement the work done by the Innovate Indiana initiative and the university's Council for Regional Engagement and Economic Development (CREED). The network will include representatives from 16 schools, offices and centers across the state that offer services that could potentially benefit regional economies.

In tech-based economic development circles, universities are frequently thought of as engines for regional economic growth, engines whose effectiveness is determined by the volume of research conducted and the ability of faculty and staff to turn discoveries into commercially available goods and services. The authors of two recent academic articles suggest that regional economies are also a key determinant of university success.