I travel around a fair bit, and I get to see a lot of interesting stuff that’s going on at universities in Canada, and abroad.  People often ask me: what’s the best thing you’ve seen recently?  The answer this year, hands down, is UBC’s Start-up Services Voucher.

Now, UBC’s been a leader in commercialization and spin-off companies for at least twenty years.  They caught a lot of attention when they created a $10 million Seed Fund, capitalized by donations from alumni and the BC Innovation Council, which was designed to promote entrepreneurship by making early stage, pre-seed investments in start-ups founded by students or recent alumni.

But more quietly, the university has done something else which I think is much more interesting: about two years ago, it created the Start-up Services Voucher.  If you’re a UBC student, staff, or faculty member, and want to start a business, you’re eligible for up to $5000 worth of business services (though, in practice, most use far less).  And unlike virtually every other entrepreneurship system in Canadian PSE, there are no requirements whatsoever with respect to using UBC technology, nor is there any stipulation that the business be some kind of technology enterprise.  Want to open a flower shop?  This fund’s for you.

There’s no catch.  UBC certainly isn’t interested in equity, for instance.  All they want is recognition.  All companies that move through the program must display a logo declaring themselves as “UBC-affiliated companies” for a period of five years.

How brilliant is that?

First, it creates a great, dense network between an institution and small businesses in its community (which will no doubt pay off philanthropically, down the road).  Second of all, it allows the institution to get a much better handle on the post-graduation activities of its entrepreneurs, and hence allows UBC to highlight its larger role in job creation and innovation in British Columbia.  Frankly, UBC could pay for this out of the Government Relations budget, and it would make complete sense – how great will it be to be able to walk into an MLA’s office and rattle off the names of all the new, “UBC-affiliated” businesses that have started-up in his/her riding?

Students learn a lot in PSE, and not just inside the classroom.  When they start their own businesses, it’s the ultimate expression of the mix of hard, soft, and creative skills that they’ve gained at school, and are now applying in innovative ways.  It’s a huge, practical impact that universities and colleges have on their communities that no one’s ever been able to quantify or publicize.

Until now.  Bravo, UBC.  A great idea that deserves more attention – and some imitators.