Regents Endorse Incorporation, Bylaws of the Missouri Research Corporation

CAPE GIRARDEAU, Mo.,

Nov. 14, 2003 – The Southeast Missouri State University Board of Regents Nov. 13 approved articles of incorporation and bylaws of The Missouri Research Corporation and appointed its first board of directors.

The Missouri Research Corporation is closely allied with Southeast’s new Innovation Center, which is working to develop initiatives to assist faculty and businesses in applied research projects in plant and life sciences, environmental science, value-added agriculture and manufacturing technology.

Dennis Roedemeier, chief executive officer of the new Southeast Missouri University Research Foundation and executive director of the new Southeast Missouri State University Innovation Center, said a research corporation is created to support research and assist in the commercialization of new products, concepts and services. All of these activities generate deliverables and potential returns, he said.

“Of course, this is very desirable for the future of a corporation,” he said, “but it does create a risk scenario.”

A research corporation neutralizes the impact of this risk on the University because it is a separate entity with its own legal responsibilities and recourse.

Roedemeier said the research corporation also will allow initiatives to move quickly, in order to meet critical time requirements and take advantage of targeted windows of opportunity.

Roedemeier added that a research corporation provides a climate where the private sector interacts and negotiate in a straightforward manner.

“The private sector involved in product development views research corporations as the best option for university collaboration and cooperation,” he said.

In related action, the Board of Regents approved the first appointments to The Missouri Research Corporation Board of Directors. Members are James O’Donnell, chairman and chief executive officer of Capital For Business in St. Louis; C. Michael Dambach, partner and certified public accountant with BKD in St. Louis; Frank Stokes of St. Clair, Mo., who currently serves as chair of the Missouri Technology Corp.; and Kelvin Westbrook, president and chief executive officer of Millennium Digital Media in St. Louis.

Their terms are effective Dec. 1. The members will serve staggered terms with Stokes’ and Westbrook’s terms expiring Dec. 1, 2004; Dambach’s on Dec. 1, 2005; and O’Donnell’s on Dec. 1, 2006.

The bylaws approved by the board today provide for a maximum of nine members on the board of directors.