DRI’s Stephen G. Wells: Success down to a science
Running an academic institution like a business is a mantra that isn’t exactly new. But few such institutions ever subscribe to that principle quite to the same extent as the Desert Research Institute.
One of eight institutions within the Nevada System of Higher Education, DRI employs non-tenured staff and is responsible for generating the lion’s share of its budget. Now 55 years into its operation, DRI’s results can be best described as, well, businesslike. These days, DRI generates a total annual revenue of $50 million — quite a feat in today’s tough economic environment. And no one is prouder of the research institution’s accomplishments than its president, Stephen G. Wells.
"We like to brag that for every dollar the state gives us, we return $4 directly," said Wells, who also serves as a board member for NCET, Nevada’s Center for Entrepreneurship and Technology. "DRI’s model is to essentially blend entrepreneurial wit with an academic environment. Our goal is to always reinvest in our most precious assets, which is the brain power of the research faculty. "
Although Wells likes to deflect credit to his staff, the 61-year-old is credited as an instrumental figure in taking DRI’s businesslike approach to the next level.
After taking over DRI’s reins in 1999, Wells staunchly advocated for growing the intellectual property of the institution’s researchers. Since 2006 alone, DRI boasted 28 invention disclosures, 15 provisional patent applications and the issuing of five patents and three trademarks. Read more:
