Big stakes.(Arizona State University technology program)

Valley technology leaders hope universities will boost industry

The University of Illinois spun off Netscape, and Massachusetts Institute of Technology gave birth to Bose Corp., but nothing of that magnitude has ever come out of Arizona universities.

Valley tech industry leaders say that expectation is realistic but changes will have to occur first.

"Arizona is substantially below the market in terms of spinning out successful companies in this community. Arizona State University and the University of Arizona by now should have had a few success stories," said Quinn Williams, chairman of the Greater Phoenix Economic Council.

Many say the growth and success of ASU's technology transfer program is key to creating more jobs, attracting venture capital and spurring economic development. In other words, generating the momentum needed to put the Valley on the national tech map.

In its final report to the governor, the Arizona Partnership for the New Economy said tech transfer is crucial to the state's growth.

But several factors ,have plagued ASU's tech transfer program; preventing it from having the kind of impact seen at universities such as Stanford, Columbia and MIT:

* ASU needs more research money, which in turn would lead to more inventions, patents an new businesses.

* Faculty and researchers don't …