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UEDA Summit 2012: Models for Student Entrepreneurship (Michalerya, Ochs & Jackson)
 

UEDA Summit 2012: Models for Student Entrepreneurship (Michalerya, Ochs & Jackson)

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In 2012, Lehigh University launched a new master’s degree in technical entrepreneurship. The cross disciplinary approach opened the door to graduate school education in technical entrepreneurship ...

In 2012, Lehigh University launched a new master’s degree in technical entrepreneurship. The cross disciplinary approach opened the door to graduate school education in technical entrepreneurship for students from all academic backgrounds, creating a melting pot of experience, skills and aspirations in the classroom. This one-year, 30-credit professional master’s program (M.Eng.) in technical entrepreneurship helps student entrepreneurs create, refine, and commercialize intellectual property through the licensing or launching of a new business. Students in the program learn by experiencing the idea-to-venture process in an educational environment that’s hard-wired to support the development of novel, innovative, and commercially-viable technologies. Attendees will hear about the types of students from the first cohort, the perspective of the faculty members responsible for developing and implementing the curriculum, and lessons learned.

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  • Note ERC “innovation ecosystems”

UEDA Summit 2012: Models for Student Entrepreneurship (Michalerya, Ochs & Jackson) UEDA Summit 2012: Models for Student Entrepreneurship (Michalerya, Ochs & Jackson) Presentation Transcript

  • Create and Launch Your Company in One Year
  • A Different Kind of Graduate Program• Dedicated Curriculum – Customized to Your Needs• Dedicated Faculty – Mentors and Advisors• Dedicated Facilities – Private Lab and Classroom … Make Your Ideas Into Reality2
  • Dedicated Curriculum SUMMER SESSION – SKILL BUILDING • Intellectual Property • Creativity and Innovation • Prototyping • Visual Thinking3
  • Dedicated Curriculum FALL SEMESTER – DESIGN • Product and Customer • Business Model • Finances • Startup Team4
  • Dedicated Curriculum SPRING SEMESTER – LAUNCH • Startup Team & Resources • Frist Customers • Product Launch • Company Launch5
  • Dedicated Faculty John Ochs, Director, Technical Entrepreneurship • Computer-Aided Design Computer-Aided Manufacturing • Integrated Product Development • Industry Consultant and Startups • Mechanical Engineering and Mechanics6
  • Dedicated Faculty Marc de Vinck, Baker Professor of Creativity • Industrial design • Product developer at MAKE Magazine • Arduino and micro-controllers7
  • Dedicated Faculty Dr. Michael Lehman, Professor of Practice • MD and MBA • Entrepreneurship development • Commercialization of new technologies8
  • Dedicated Faculty Brian Slocum, Director, Design Labs, Wilbur Powerhouse • Prototyping and metal working • Integrated Product Development9
  • Dedicated Staff Lisa Getzler-Linn, Administrative DirectorBrenda Kahn, Coordinator Amy White, Communications10
  • Dedicated Facilities: Wilbur Powerhouse
  • Dedicated Facilities: Resources Project Spaces 3D Digital Scanner Professional CAD, Graphics & Animation Computer Lab Fully Staffed Industry-grade Workshop Rapid Programmable Prototyping Router
  • Meet the Students Our current cohort includes students with undergraduate degrees in engineering, design arts, global studies, psychology, architecture, journalism, political science, and supply chain management.13
  • Meet the Students “I want to develop products to make life easier or more fun. This program gives me a ton of new creative and innovative techniques.”“I’m learning all thetools I need to start a “I get to have fun!”business.”14
  • Successful Student Companies Systems for Reef Aquariums ~$5M annual revenue • IPD Entrp. Project • Thalheimer Winner • NCIIA Natl. Winner • Garage Incubator • IPD Masters of Engr. • VENTURESeries • KIZ Funding • ESC-Agile PA • Ben Franklin Tech • MRC, BEDCO • Nanotech Center • PSGE & ILR mentorNationalWinner
  • Successful Student Companies• IPD 3-Semester Project• Thalheimer Winner• Levin Advanced Technology Winner• NCIIA National Winner• Garage Incubator• VENTURESeries• Innovation & Leadership Residency• KIZ Funding• 2010 March Madness for the Mind National• Venture Well East 2010 Winner• IPD Sponsor• PSGE Mentor America’s Top 25 Best Young Entrepreneurs 2010
  • Successful Student Companies hField Technologies, Inc IBE Freshman Workshop IPD Masters of Engineering Thalheimer Competition Winner Powerhouse Garage Incubator PA State KIZ Grant Agile PA Grant Ben Franklin Grant & Incubator Rising Tide Community Loan Fund
  • Successful Student Companies George Guest LTD designs and manufactures backpacks for outdoor enthusiasts, travelers, and everyday use – founded by George Social networking Keeler ‘09 site Viddler allows users to upload, edit, Opening 2 weeks after graduation, and share digital Lehigh Valley Grand Prix provides photos – founded by high-speed indoor go-kart racing – Rob Sandie ‘06 founded by Mike McCreary ‘07 Identity Finder, LLC is a leader in data loss and identity theft prevention services – founded by Todd Feinman ‘90
  • www.lehigh.edu/innovate
  • Create and Launch Your Company in One Year “Innovation, fueled by creativity, is this generations most import economic development engine.1”110 tenets of an entrepreneurial mindset, John Ochs, www. USAtodayeducate.com, May 24, 2012
  • A 40-year Journey• Acoustics (interdisciplinary)• Computer generated animation• Computer-Aided Design and Computer Aided Manufacturing (CAD/CAM)• Engineering Design – Industrial Design – Capstone Design Projects• Integrated Product Development• Technical Entrepreneurship21 October 31, 2012
  • IPD ProcessInnovation is the engine driving economicdevelopment Other Paying Customers Purposes Revenues Investment in Innovation Innovation Products Engine Manufacturing Services People invest in new products/services because the expected yield in long term growth and sustainability is greater than other alternatives
  • Tenets of an Entrepreneurial Mindset1. Innovation, fueled by creativity, is this generations most import economic development engine.2. The greatest opportunity for innovation occurs at the intersection of disciplines3. Innovation is a process that can be best learned by doing it4. Greatest chance for successful innovation comes from cross disciplinary teams5. The market defines success23 October 31, 2012
  • Tenets of an Entrepreneurial Mindset6. All constraints are self imposed. The world is your resource.7. Fail early and often to succeed sooner – fail, learn and try again.8. Learn to embrace risk, it’s the flip side of benefits and value9. Successful innovation requires a team and leadership10. A track record of ethical behavior leads to trust and faith in entrepreneurs to lead.24 October 31, 2012
  • IPD Overview 5-Step Development Process Project and Process Management 3 Manufacturing Development 4 2 1 Manufacturin 5 3 g Ramp-up Conceptual Service &Opportunity Product Design & 4 Customer Scanning Development Product Support Planning Market 3 Introduction Market Development IP Documentation and Data Management
  • IPD OverviewUlrich & Eppinger’s Product DevelopmentProcess Focusing on Steps 1, 2 and 3 MissionStatement Development Identify Establish Generate Select Test Set Plan Plan Customer Target Product Product Product Final Downstream Needs Specifications Concepts Concept(s) Concept(s) Specifications Development Customer and Company Development Perform Economic and Business Analysis Benchmark Competitive Products Build and Test Models and Prototypes Track and Secure Intellectual Property
  • A proven track record of successfulstudent start-ups …
  • A Proven Track record of Successful Student Start-ups Tech Startups Services • Viddler.com • Lehigh Valley Grand Prix • Orion Security LSP • Vital Conversions • Gigmax.com Fashion • hField Technologies • Simply-Anti Apparel • EcoTech Marine • George Guest Ltd. • Lifeserve Innovations • Hillary Caroline Jewelry • Squareknot NGOs • Challtech • Soccer without Borders • Jamii Water28 October 31, 2012
  • A proven track record of successful studentstart-ups along with a nationallyrecognized entrepreneurship ecosystem …
  • Infrastructure& Other Related Courses Educational Programs Related Organizations LEHIGH Entrepreneurship Ecosystem
  • Infrastructure & Other Related Courses Educational Programs Ben Franklin Office of Technology Technology Transfer & Partners Keystone Commercialization Innovation Manufacturers Resource Zone Center Related Organizations SBDC Center for Advanced Materials & Nanotech LEHIGH Center forOptical Technologies Entrepreneurship Ecosystem Life Sciences Greenhouse Baker Institute
  • Infrastructure & Other Related Courses Integrated Entrepreneurship Product Minor Development Computer Science & Business VentureSeries Executive Certificate Integrated Educational Business & MBA Corporate Programs Engineering Entrepreneurship IDEAS Enterprise System Center Ben Franklin Office of Technology PA Governor’s Technology Transfer & Partners KeystoneInstitute for Personal Commercialization Innovation Finance & Entre- Zonepreneurial Education Manufacturers Resource Center Related Integrated Real Organizations SBDC Estate Center for Advanced Materials & Nanotech Design Minor & LEHIGH Design Majors Center for Optical Technologies Entrepreneurship Community Fellows Ecosystem Life Sciences Global Village Greenhouse Leadership Baker Lehigh Institute Masters in Technical Entrepreneurship
  • Thalheimer Student Entrepreneurs Competition “Garage” Student Start-up Incubator Lehigh Entrepreneurs Network Wilbur Powerhouse Infrastructure L. Pool Memorial Scholarships Office of Student & Other Related Leadership for Entrepreneurship Development Courses Undergraduate Engineer Entrepreneur Fund Integrated Entrepreneurship Product Iaccoca Institute Minor Development Computer Science & Business Professional Education Seminars VentureSeries Executive Certificate Integrated Educational Business & Small Business Counseling MBA Corporate Programs Engineering Community Consulting Practicum Entrepreneurship IDEAS The Business of Life Science Enterprise System Center Ben Franklin Office of Technology Leadership Breakfast Series PA Governor’s Technology Transfer & Partners Keystone Institute for Personal Commercialization Innovation Development & Marketing Finance & Entre- Zone of New Products preneurial Education Manufacturers Resource Center Related Integrated Real Organizations SBDC Bioengineering Capstone Design Center for Advanced Estate Materials & NanotechBusiness Information Systems Practicum Design Minor & LEHIGH Capstone CE & IE Design Projects Design Majors Center for Optical Technologies Entrepreneurship Production & Marketing of Sound Recordings Community Fellows Ecosystem Life Sciences Global Village Greenhouse Martindale Center Leadership Baker Microfinance Lehigh Institute Masters in Technical Entrepreneurship
  • Successful Student Companies Systems for Reef Aquariums ~$15M annual revenue • IPD Entrp. Project • Thalheimer Winner • NCIIA Natl. Winner • Garage Incubator • IPD Masters of Engr. • VENTURESeries • KIZ Funding • ESC-Agile PA • Ben Franklin Tech • MRC, BEDCO • Nanotech Center • PSGE & ILR mentor • IPD SponsorNationalWinner
  • A proven track record of successfulstudent start-ups along with a nationallyrecognized entrepreneurship ecosystemhas led to the development of a differentkind of graduate program in TechnicalEntrepreneurship…
  • A Different Kind of Graduate Program in Technical Entrepreneurship• Dedicated Curriculum – Customized to Your Needs• Dedicated Faculty – Mentors and Advisors• Dedicated Facilities – Private Lab and Classroom … Make Your Ideas Into Reality36
  • Dedicated Curriculum SUMMER SESSION – SKILL BUILDING • Intellectual Property • Creativity and Innovation • Prototyping • Visual Thinking37
  • Dedicated Curriculum FALL SEMESTER – DESIGN • Product and Customer Development • Business Model • Finances • Startup Team38
  • Dedicated Curriculum SPRING SEMESTER – LAUNCH • Startup Team & Resources • First Customers • Company Launch • Product Launch39
  • Dedicated Faculty John Ochs, Director, Technical Entrepreneurship • Computer-Aided Design Computer-Aided Manufacturing • Integrated Product Development • Industry Consultant and Startups • Mechanical Engineering and Mechanics40
  • Dedicated Faculty Marc de Vinck, Baker Professor of Creativity • Industrial design • Product developer at MAKE Magazine • Arduino and micro-controllers41
  • Dedicated Faculty Dr. Michael Lehman, Professor of Practice • MD and MBA • Entrepreneurship development • Commercialization of new technologies42
  • Dedicated Faculty Brian Slocum, Director, Design Labs, Wilbur Powerhouse • Prototyping and metal working • Integrated Product Development43
  • Dedicated Staff Lisa Getzler- Linn, Administrative DirectorBrenda Kahn, Coordinator Amy White, Communications44
  • Dedicated Facilities
  • A proven track record of successfulstudent start-ups along with a nationallyrecognized entrepreneurship ecosystemhas led to the development of a differentkind of graduate program in TechnicalEntrepreneurship open to allentrepreneurially minded students fromany major…
  • Meet the Students Our current cohort includes students with undergraduate degrees in engineering, design arts, global studies, psychology, architecture, journalism, political science, and supply chain management.47
  • A proven track record of successful studentstart-ups along with a nationally recognizedentrepreneurship ecosystem has led to thedevelopment of a different kind of graduateprogram in Technical Entrepreneurship opento all entrepreneurially minded studentsfrom any major who are seriously interestedto be …
  • … a part of the economic development engine for the Lehigh Valley and beyond. Apply to be part of the class of ’14 at: www.lehigh.edu/innovate “Innovation is not an elective”
  • ERC Innovations & Impacts - SPINOFF COMPANY -Center for Wireless Integrated MicroSystems –Mobius Microsystems, founded by a gradstudent, became a world leader in all-silicon clockgeneration technology used in cell phones, USBports, and other small computer devices andperipherals for timing computer operations
  • ERC Innovations & Impacts - SPINOFF COMPANY -Founded by two former undergraduate students in Caltech’sCenter for Neuromorphic Systems Engineering in1996, DigitalPersona has become a leader in biometric passwordmanagement for PCs and corporate information systems. Thecompany’s technology and design are used in Microsoft’sFingerprint Reader devices and many other products. DP marketsits own fingerprint readers directly to consumers.
  • ERC Innovations & Impacts - SPINOFF TECHNOLOGY -USC’s Biomimetic MicroElectronic Systems ERC – BMES hasgained FDA approval for clinical use of a second-generationimplantable prosthetic retina, the Argus II Retinal ProsthesisSystem, developed in conjunction with device manufacturer,Second Sight Medical Products. The device enablespreviously blind people to perceive light and patterns.
  • ERC Innovations & Impacts - SPINOFF COMPANY – University of Washington UWEB Healionics, Inc. startup’s STAR 3-D biomaterial scaffold is designed to heal around a medical implant and promote acceptance in the body. Healionics has itself spun off two independent operating companies, iSTAR Medical and qSTAR Medical, bothbased on STAR 3-D. The company’s flagship medical device, a glaucoma drain, has received CE Mark approval so it can be sold in Europe.
  • ERC Innovations & Impacts - SPINOFF COMPANY -SynBERC (based at U. California-Berkeley) – Amicrobial process for inexpensively producingthe anti-malarial drug, artemisinin, passedthrough SynBERC spinoff Amyris Biotechnologiesto a major pharmaceutical company
  • ERC Innovations & Impacts - SPINOFF COMPANY -Optoelectronic Computing Systems Center (1987-1998) – Spinoff ColorLink (now RealD Cinema)introduced a new generation of 3D film technologythat won an Academy Award for Special Effects, inthe 2009 movie Avatar
  • ERC Innovations & Impacts - SPINOFF TECHNOLOGY -ERC on Mid-InfraRed Technologies for Health andthe Environment (Class of 2006) – DaylightSolutions, Inc., is commercializing advancedquantum-cascade laser systems developed inpartnership with MIRTHE
  • ERC Innovations & Impacts - SPINOFF TECHNOLOGY -Colorado State’s Extreme Ultraviolet ERC –The EUV ERCtransferred its state-of-the-art high harmonic generation(HHG) source technology to KMLabs, Inc. in Boulder. KMLabsused the technology to produce the first turnkey 30 nm EUVcommercial laser system with their XUUS™ (eXtremeUltraviolet Ultrafast Source) product.
  • Strategic Fit with Lehigh 2020 2007 Entrepreneurship Initiative 2010 Baker Institute for Entrepreneurship, Creati vity and Innovation 2012 Masters of Technical Entrepreneurship (TE)
  • Thalheimer Student Entrepreneurs Competition “Garage” Student Start-up Incubator Lehigh Entrepreneurs Network Wilbur Powerhouse Infrastructure L. Pool Memorial Scholarships Office of Student & Other Related Leadership for Entrepreneurship Development Courses Undergraduate Engineer Entrepreneur Fund Integrated Entrepreneurship Product Iaccoca Institute Minor Development Computer Science & Business Professional Education Seminars VentureSeries Executive Certificate Integrated Educational Business & Small Business Counseling MBA Corporate Programs Engineering Community Consulting Practicum Entrepreneurship IDEAS The Business of Life Science Enterprise System Center Ben Franklin Office of Technology Leadership Breakfast Series PA Governor’s Technology Transfer & Partners Keystone Institute for Personal Commercialization Innovation Development & Marketing Finance & Entre- Zone of New Products preneurial Education Manufacturers Resource Center Related Integrated Real Organizations SBDC Bioengineering Capstone Design Center for Advanced Estate Materials & NanotechBusiness Information Systems Practicum Design Minor & LEHIGH Capstone CE & IE Design Projects Design Majors Center for Optical Technologies Entrepreneurship Production & Marketing of Sound Recordings Community Fellows Ecosystem Life Sciences Global Village Greenhouse Martindale Center Leadership Baker Microfinance Lehigh Institute Masters in Technical Entrepreneurship
  • State Economic Development @ Lehigh• Ben Franklin Technology Partners• Manufacturers Resource Center• Small Business Development Center• Pennsylvania Infrastructure Technology Alliance (PITA) PITA• Office of Technology Transfer
  • Regional Economic Development PartnersBethlehem Vision 2012 LV Workforce Investment Board Wall Street West - WIRED PA Group (DC) Agile PA
  • Student Entrepreneurship Opportunities• Entreprenuru – Zach Bloom lifeserve.bloom@gmail.com• Entrepreneurship Club – David Gritz deg312@lehigh.edu• Entrepreneurship Minor – Prof T Watkins taw4@lehigh.edu• Eureka Competition Series – L Getzler-Linn lig4@lehigh.edu• Entrepreneurial Leadership Workshops• Entrepreneurship Week• Entrepreneurs in Residence.• Thought Leaders Speaker Series• Entrepreneurial Internships www.lehigh.edu/entrepreneurship
  • Recent Lehigh Student Start-up Companies• Lehigh Valley Grand Prix (Marketing/economics)• Viddler.com (CSB)• Orion Security LSP (IBE)• Hillary Caroline Jewelry (Eship Minor)• Gigmax.com (ECE)• George Guest Ltd.(Product Design)• Lifeserve Innovations (BioEngineering)• MPlug (IBE)• HAWILI / JammiWater (IR and ME)
  • Example Recent Lehigh Student StartupsTech Startups Services • Viddler.com • Lehigh Valley Grand Prix • Orion Security LSP • Vital Conversions • MPlug • Gigmax.com Fashion • Simply-Anti Apparel • hField Technologies • George Guest Ltd. • Hillary Caroline Jewelry • EcoTech Marine • Kitchen NGOs Conveniences • Soccer without Borders • Lifeserve • Jamii Water Innovations
  • 2009 Grand Prize Winner LIFESERVE INNOVATIONS Thalheimer Student Competition Winner - $5,000 Office in Wilbur Powerhouse $5,000 in Summer Funding Infrastructure and Network $20,000 NCIIA GrantDean Brown, R Arlow, J&J Thalheimer, Z Bloom, B Bucholz, Dean Wu
  • Current Student Startup In Residence in Garage Incubator• IPD 3-Semester Project• Thalheimer Winner• Levin Advanced Technology Winner• NCIIA National Winner• Garage Incubator• VENTURESeries• Innovation & Leadership Residency• KIZ Funding• 2010 March Madness for the Mind National• Venture Well East 2010 Winner• IPD Sponsor• PSGE Mentor America’s Top 25 Best Young Entrepreneurs 2010
  • EcoTech Marine’s Story• High school hobby• Calcuim Reactor – Maintains calcium and alkalinity balance• VorTech Propeller – Provides wave-like flow with all electrical connections outside of the tank• Eco Shield – Imbedded engineered nano materials inhibits algae growth• Now an IPD Sponsor
  • TE Model: Change the question! The key to societal wealth ? It’s the student E-team. They form newcompanies that invent stuff and sell it to the
  • Lehigh’s Model: Example Projects VorTech PropellerNational Pump Winner $8,350 for Reef Aquariums ~2000 sold @~$300
  • Example Student Entrepreneurial Start-Up Systems for Reef Aquariums ~$5M annual revenue • IPD Entrp. Project • Thalheimer Winner • NCIIA Natl. Winner • Garage Incubator • IPD Masters of Engr. • VENTURESeries • L. Pool Scholar • KIZ Funding • ESC-Agile PA • Ben Franklin Tech • MRC, BEDCO • IPD SponsorNational • Nanotech CenterWinner • PSGE & ILR mentor
  • Example Student Entrepreneurial Start-Up Systems for Reef Aquariums >$3M annual revenue IPD, Pool Scholar Thalheimer winner Garage Incubator VentureSeries Ben Franklin &National KIZ Funding Winner Nanotech Center
  • ExampleStudent Entrepreneurial Start-Up hField Technologies, Inc IBE Freshman Workshop ENTP 312 & IBE Capstone Thalheimer Competition Winner Powerhouse Garage Incubator PA State KIZ Grant, Agile PA Grant Ben Franklin Grant & Incubator
  • ExampleStudent Entrepreneurial Start-Up Mike McCreary, founder Marketing ’08 Launched Company in Allentown www.lehighvalleygrandprix.com
  • ExampleStudent Entrepreneurial Start-Up
  • HAWILI / JammiWater• Lisa Boyd IR’10 Founding Director• Mission: Discover What is Necessary to Make Water Systems in Tanzania Sustainable?• Winner 08-09 & 09-10Lehigh Social Venture Creation Competition for Student Entrepreneurs
  • Soccer Without Borders• Ben Gucciardi ’05, G’06 Founding Director• Lehigh soccer team captain• Mission: “Soccer as vehicle for positive change in the lives of marginalized youth”• Winner 2005-06 Lehigh Student Social Entrepreneurship Competition• Now worldwide programs• Lehigh Entrepreneur in Residence Spring 2008
  • Wilbur Powerhouse: Renovated Entirely to Support Student Projects
  • Example Graduate Student Startup Membrane Technology for Kidney Disease • 2x toxin removal Partnerships • Lower treatment time • KIZ Student Interns • Improved re-usability • KIZ Grant Funding • Lower mortality rate • National Institute of • Comparable cost Health/SBIR • Widener University“Those electron microscopes cost $1 • Lehigh faculty consultingmillion a piece. If Lehigh didn’t have • Ben Franklin Technologythem, we wouldn’t be able to Parters Incubatorcharacterize our product. You can’t (on campus)manipulate what you can’t see.” • Integrated Product William Van Geertruyden, Founder Development (IPD)
  • Entrepreneurship in High School(Leah Christman of Northwestern Lehigh & John Ochs of Lehigh’s IPD program) Examples of the Business start-ups: -Morning Smoothies -Photo I.D. cards -Advertisements, -Procedures, -Color coded maps, -Stock holder cards.
  • Powerhouse Resources Project Spaces3D Digital Scanner Professional CAD, Graphics & Animation Computer Lab Fully Staffed Industry-grade Workshop Rapid Programmable Prototyping Router
  • Powerhouse Z-Corp 650 3D Color Printer
  • NSF’s Engineering ResearchCenters: Nurturing Student Entrepreneurs -- Presented to the UEDA Summit -- October 23, 2012 Dr. Deborah Jackson Engineering Research Center (ERC) Program Director Engineering Directorate National Science Foundation 82
  • OUTLINE Engineering Research Centers › Guiding Principles › New Gen-3 Features Innovation Spectrum and Innovation Ecosystem Summary 83
  • 84 ERCs Build University Cultures that Join Discovery & Innovation in Partnership with IndustryERC Program Goalsl Create a culture in academe that joins research, education to stimulate innovation;l Build partnerships with industry to strengthen the innovative capacity of the U.S. in a global context;l Produce creative and innovative engineering graduates, capable of leading teams in a globally competitive world.
  • An NSF Engineering Research Center A Complex, Interdependent System ResearchLeadership & Students,Management Faculty & Staff Graduates Knowledge Vision & Strategic Plan Technology Curricula Education Industrial Collaboration 85 Funds, Equipment, Industry/ Facilities Users
  • OUTLINE Engineering Research Centers › Guiding Principles › New Gen-3 Features Innovation Spectrum and Innovation Ecosystem Summary 86
  • Between Invention and Commercialization Innovation Program to Bridge the Valley of Death ExistingResources Commercialization Valley of Death Resources Existing Research Resources Inventing Commercializing ERC Research at New Products Sold at Companies Universities Level of Development Credit: Deborah Jackson 2011
  • Closer Look at the Valley of Death Overlapping Structural Resources and Activities Formal Champions Processes (People) (Ideas) “Valley of Death”Resources Critical Inventing Resources Commercializing (Tools) ERC Research at New Products Sold at Companies Universities Level of Development NSF/EEC Project 9528410 TEC: Kingon and Markham
  • Innovation Bridge Structures Turn“Valley of Death” into “Challenge Basin” Engineering-Business School Partnerships Rapid Prototype Infrastructure Investment Focus Group Develop Champions to business demonstration risk Mitigate small Run the Gauntlet of Risk Educate potential investors to reduce their costs Existing Risk mitigation Commercialization Resources shift Resources Valley of Death Challenge Basin Championship shift Existing Research Resources Prototype capital expense Inventing Commercializing ERC Research at New Products Sold at Companies Universities Level of Development CREDIT: Deborah Jackson
  • Pictorial Definition of Innovation Ecosystem  The Innovation Ecosystem comprises all intangible actions and complex relationships that make crossing easier by effectively: › Moving left valley wall to right › Moving right valley wall to left › Raising valley floor upward www.erc-assoc.org/ecosystemsCredit: Deborah Jackson 2011
  • Intangible Relationships are the Glue that Aid Ecosystem Functioning Building networking relationships between entities; Developing trust relationships among players; Building competent entrepreneurial teams to champion ventures across valley of death; Educating prospective investors to reduce perceived risk; Minimizing perceived risk to student champions; Transferring market sector knowledge to ERC from commercial economy; Leveraging economies of scale by clustering like ventures with similar investor and other potential commercialization resources. 91
  • Summary: ERCs are Responding On-Campus “Incubators/ Accelerators” (e.g. Foundry at CMU QoLT), › Entrepreneurial training, › business plan development coaching, › seed funding FREEDM ERC housed on North Carolina State’s Univ. Centennial Campus Formal ENG-Business School Partnerships Investment Focus Group (IFG) at MIRTHE: Gen-2 ERC at Princeton www.erc-assoc.org/ecosystems 92
  • ERC Innovations & Impacts - SPINOFF COMPANY -Center for Wireless Integrated MicroSystems –Mobius Microsystems, founded by a gradstudent, became a world leader in all-silicon clockgeneration technology used in cell phones, USBports, and other small computer devices andperipherals for timing computer operations
  • ERC Innovations & Impacts - SPINOFF COMPANY -Founded by two former undergraduate students in Caltech’sCenter for Neuromorphic Systems Engineering in1996, DigitalPersona has become a leader in biometricpassword management for PCs and corporate informationsystems. The company’s technology and design are used inMicrosoft’s Fingerprint Reader devices and many otherproducts. DP markets its own fingerprint readers directly toconsumers.
  • ERC Innovations & Impacts - SPINOFF TECHNOLOGY -USC’s Biomimetic MicroElectronic Systems ERC – BMES hasgained FDA approval for clinical use of a second-generationimplantable prosthetic retina, the Argus II Retinal ProsthesisSystem, developed in conjunction with device manufacturer,Second Sight Medical Products. The device enablespreviously blind people to perceive light and patterns.
  • BACKUP SLIDES
  • Definitions Productivity is a ratio of production output to what is required to produce it (inputs). Economic growth is the increase in the amount of the goods and services produced by an economy over time. Two ways to increase productivity 1. Increasing inputs resulting in increased outputs. 2. Find a new way of doing things that improves the efficiency of productivity or brings value where none
  • INNOVATION Innovation is defined as the introduction of new or significantly improved products (goods or services), processes, organizational methods, and marketing methods in internal business practices or the marketplace” (http://www.nsf.gov/statistics/seind10/pdf/c0.pdf page 4-50).
  • Economics of the Ecosystem Fundamental Technology BreakthroughsR&D Resource Investments New Products , Features, or Processes Increased Sales and Profits