The audit found $11.5 million of the funds were wrongly sent to the Innovation Foundation, which aims to expand OSU’s footprint in aerospace and advanced mobility, energy and agriculture.

The Innovation Foundation is a separate legal entity that manages research initiatives, technology commercialization, and business partnerships tied to OSU. Previously known as the Oklahoma State ...

OKLAHOMA CITY — Twelve Innovation Foundation employees were laid off ... a spokesperson for OSU, in a statement on Monday.

Oklahoma State University’s interim president, Jim Hess, said in a letter to OSU faculty and staff this week the school is discontinuing funding for the OSU Innovation Foundation, an ...

Oklahoma State University is discontinuing funding for the OSU Innovation Foundation following a scathing internal audit. The audit revealed the foundation misused $41 million in legislatively ...

The report determined that $11.5 million of the $41 million in misappropriated funds were transferred to the Innovation Foundation, Inc. without a written contract approved by the OSU/A&M Board.

In an email to faculty and staff, Interim President Jim Hess said funding has been "discontinued" for "The Innovation Foundation at OSU and the shared services and facilities positions within it.

The report found conflict of interest concerns and the misuse of core funds, including $11.5 million transferred to the OSU Innovation Foundation. One month after the sudden resignation of ...