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As non-profit organizations, universities serve the public good through their primary missions of teaching and conducting fundamental research. In the past, American universities obtained the bulk of their funding in the form of basic research grants from U.S. government agencies such as NSF, NIH, USDA, DOE and the DoD. These grants funded graduate students and their faculty advisors who published their research results to benefit society through the free dissemination of knowledge. Though the academic research model still adequately describes most university research programs, a new model has emerged that can accommodate new requirements imposed by government agencies and can provide R&D services for commercial companies. The model serves sponsors who want to see university technology applied in settings directly relevant to their mission or business operations.