Stanford Industrial Park

After World WarⅡ，universities were experiencing enormous demand due to returning students.To address the financial demands of Stanford's growth requirements，and to provide local employment opportunities for graduating students，Frederick Terman proposed the leasing of Stanford's lands for use as an office park，named the Stanford Industrial Park（later Stanford Research Park）in the year 1951.Leases were limited to high technology companies.Its first tenant was Varian Associates，founded by Stanford alumni in the 1930sto build military radar components.However，Terman also found venture capital for civilian technology start-ups.One of the major success stories was Hewlett-Packard.Founded in Packard's garage by Stanford graduates William Hewlettand David Packard，Hewlett-Packard moved its offices into the Stanford Research Park shortly after 1953.In 1954，Stanford created the Honors Cooperative Program to allow full-time employees of the companies to pursue graduate degrees from the University on a part-time basis.The initial companies signed five-year agreements in which they would pay double the tuition for each student in order to cover the costs.Hewlett-Packard has become the largest personal computer manufacturer in the world，and transformed the home printing market when it released the first thermal drop-ondemand ink jet printer in 1984.Other early tenants included Eastman Kodak，General Electric，and Lockheed.