With applicant numbers up 20% compared to last year, the buzz around the University of Colorado at Boulder continues. While many are quick to attribute these successes to the school’s football program under Deion Sanders (Coach Prime), other efforts are paying off as well.
For example, the University of Colorado system was recently ranked fifth in the nation in startup creation, launching more than 20 companies in a year. And the National Academy of Inventors also ranked CU 14th in the country for patent activity, reflecting “the strength of CU-led discoveries and their potential to be translated into society-benefiting technologies with the support of CU’s robust entrepreneurial ecosystem.”
As a member of the university’s Research & Innovation External Advisory Board, I’ve witnessed many such initiatives come together over the last several years and can confirm none of CU Boulder’s recent successes were by chance.
It was CU Boulder’s entrepreneurial leadership and execution that drove the successes, transcending the boundaries of sports, research, business, and education. The revitalization of its football and research and innovation programs is a case study in how taking calculated risks to achieve bold visions can really pay off. Leaders across various sectors can draw valuable lessons from CU’s approaches.
THE HIRING OF COACH PRIME
First, after a few humiliating losing seasons, CU decided that it was time for a change in its football program. It cast a bigger-than-usual net to collect recommendations for the Buffs’ next head coach. Second, to rebuild the team efficiently with high-quality transfers, CU had to streamline its dated school-transfer processes for all students, cutting down the time it takes from many weeks to just several days. Third, CU’s leadership did their best to win the trust of Coach Prime and helped settle his whole family at Boulder, including enrolling his children to CU. The rest was history.
Hiring Coach Prime has generated a substantial financial impact on the school as a whole. While CU is paying Sanders about $30 million over five years, a USA Today estimate found that investment was worth more than $280 million to the university in the first season in terms of ticket sales, media coverage, enrollment interest, and more. Visit Boulder credited the program with $113 million in city-wide economic impact last year.
THE OTHER HALF OF CU’S SUCCESS
But CU’s newfound success on the field is just half of the story.
The university has also been taking deliberate steps to raise the profile and reach of its various research and entrepreneurship programs in recent years, effectively following the same playbook that it did in hiring Sanders—thinking outside the box, taking tangible steps to make change happen, and building trust with partners. And the results are just as impressive.
To obtain input and resources from industry, national labs, local governments, and other organizations, the university has established an advisory board. The university streamlined and rebranded the tech transfer office and set up various programs to provide seed funding and other support for CU-based startups.
They also launched major programs to support research and education in quantum science, technology, and climate resilience. There has been routine outreach beyond Colorado as well, including events and networking in Silicon Valley, to further help CU startups thrive.
These deliberate plans and efforts are paying off. The university’s researchers brought in a combined $684.2 million in grant funding in 2023, setting a new record for research funding and supporting projects in new energy, glacier data collection, and more. Statewide, CU’s campuses drove $10.8 billion in economic impact last year, a figure that jumps to $17.2 billion when the system’s affiliate hospitals are included.
A CYCLE OF SUCCESS
Like Coach Prime’s Buffs, CU’s successes in research and innovation are breeding additional successes. Greater exposure to the school’s research, increased donations to support further work, more funding to spin out innovative new companies, and the cycle continues.
While sports, research, and innovation may not be directly related in the traditional sense, the dual rise of the University of Colorado is proof that similar approaches to both fields can pay dividends over the long term, with advantages that benefit all involved.
WHAT OTHERS CAN LEARN FROM CU
Leaders looking to emulate or learn from CU Boulder’s innovative approach to reviving its marquee programs can glean a few lessons:
1. Build and believe in a bold vision. Recognize that it’s never too late to rebuild and revive your organization. If a public university of almost 150 years of history could do it, why can’t yours? Think outside of the box and have the courage to take calculated risks.
2. Hire the best “players” for your team and leverage the agency of high-performing individuals to ignite the change. Just like how one coach can change the whole sports program, CU Boulder made many superior hires in its research and innovation programs that have made huge differences for the university.
3. Have an abundance mindset to maximize external resources. Reach out to a broad range of partners and resources that might help fine-tune your vision. Build trust and meaningful relationships over time.
CULTIVATING A BOLD ENVIRONMENT
By applying these lessons, you can create an environment that not only embraces innovative thinking but also empowers individuals and teams to contribute to meaningful change. In doing so, you can position your organization for innovation and enjoy your own cycles of success.
