Risk is a four-letter word for companies scouting new technology to acquire and develop. So Arizona State University aims to take away some uncertainty for investors looking to buy into the university’s technology, reports the Arizona Republic. ASU plans to raise $5 million to invest in its own technology. The idea is that the money will help the university develop its own promising ideas for biosciences or renewable energy, rather than immediately shopping projects to outside investors. "We are going to do what a venture-capital firm does," said Alan Nelson, executive director of ASU’s Biodesign Institute. "When you dig down, there are a lot of amazing inventions that are here. They are just a long way from commercialization." Backers of the Impact Accelerator program say it will make the university’s technology more appealing and improve the odds that ASU can spin out successful companies. Such companies could create hundreds of jobs and potentially generate millions of dollars in licensing fees for the school. Private investors say it’s a smart move for universities to invest in their own research, particularly as the recession makes investors wary of technology that often takes a long time to develop…

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