Disclaimer: Austinite here unrelated to UT.
UT needs a wider incubation, financing, and entrepreneurial (undergrad/grad-student/community) ecosystem like Stanford. Critical mass of players brings with it more interested parties, and with it, that elusive "innovation". It should be okay to make money, okay to turn a PhD thesis into a startup, okay to launch side projects, and cool to fail and learn lessons. Not all paths must lead to a "corporate career".