Serendipity is a wonderful thing, but it’s no way to build an economy.

We can’t rely on dumb luck to connect the people, ideas and capital that will create the businesses of the future. We all love the stories of life-altering breakthroughs being pulled out of thin air.

We hold dear tales like that of Archimedes exclaiming “EUREKA” upon discovering that the volume of his body submerged in his bath must displace an equal volume of water, solving the previously intractable problem of measuring the volume of irregular shapes. But Archimedes’ “discovery” was no fluke. He was the leading mathematician of antiquity. He brought tremendous skill and background to this challenge before his eureka moment.

In the same way, the problems of the Michigan economy will not be solved by good fortune or luck. We must systematically catalog the tremendous resources we possess, attract or create the resources we lack, and develop systems to connect people, ideas and capital in creative and innovative ways.

Universities must play a critical role in building this web of creative connectivity. Universities are huge repositories of talent: faculty and student talent brimming with ideas and enthusiasm. But until recently, universities were fairly disconnected from the world of product development and commerce. Universities studied these worlds, but rarely ventured into the day to day fray.

This is changing. Universities are bringing more and more practical engagement and experiential learning into classrooms. Special programs to unlock entrepreneurial passions are exploding with student interest. Opportunities abound for faculty to share their discoveries with the world and see them incorporated into real products for real people. And the university is engaging the broader community in a robust fashion. Some examples will illustrate this new connectivity.

For the past few years the University of Michigan’s Technology Transfer office has hosted a team of student interns each summer in its Tech Start program. During the summer, these students team up with Tech Transfer staff and industry mentors to provide help to U-M spin out companies. The students get a chance to roll up their sleeves and experience the challenges and opportunities inherent in launching a successful business.

For some, this experience turns into a path to connect with opportunity. Gus Simiao, came to the university as a graduate business student in 2006, and worked as a Tech Start intern on Engineering Professor Michael Bernitsas VIVACE technology. After graduation, Simiao kept in touch with Professor Bernitsas, and in 2009 he ended up moving back to Ann Arbor and accepting a job as CEO of Vortex Hydro Energy, a company formed to commercialize this ocean and river current energy technology.

Another important strand is the MPowered Career Fair. Now in its third year, this event brings together small companies and ambitious U-M students. The student entrepreneurial group MPowered organizes this annual gathering designed to connect students to opportunities with smaller, high-growth companies.

It seems counterintuitive that a state as hard pressed as Michigan would have any exciting opportunities for students to stay and build their experience and launch careers. Yet the opportunities exist, and each year this energetic event connects a growing number of talented students with companies.

There is still time to register for this year’s event on January 26th at the Michigan Union. The event targets companies with 500 employees or less who are willing to consider hiring U-M students for full time, part time, or internship positions

For more information on the programs above, or to learn more about the university’s growing web of engagement programs visit www.bec.umich.edu.

Daryl Weinert is the Executive Director of the University of Michigan’s Business Engagement Center.