Open 2013:  Funding Student Ideas
Upcoming SlideShare
Loading in...5
×

Like this? Share it with your network

Share

Open 2013: Funding Student Ideas

  • 573 views
Uploaded on

 

  • Full Name Full Name Comment goes here.
    Are you sure you want to
    Your message goes here
    Be the first to comment
No Downloads

Views

Total Views
573
On Slideshare
542
From Embeds
31
Number of Embeds
1

Actions

Shares
Downloads
15
Comments
0
Likes
1

Embeds 31

http://bumc-devhpp.ad.bu.edu 31

Report content

Flagged as inappropriate Flag as inappropriate
Flag as inappropriate

Select your reason for flagging this presentation as inappropriate.

Cancel
    No notes for slide

Transcript

  • 1. PSU Sparkplug Igniting student ideas Matthew Poese and Liz KisenwetherPenn State University’s Engineering Leadership and Entrepreneurship Programs
  • 2. Problem• Student groups have good ideas – rarely move them forward – meager resources for parts to build prototypes Solution• A funding platform to capitalize an idea – students articulate a value proposition – students enlist stakeholders – stakeholders back the project • typical contribution is $5-$50
  • 3. SparkPlug• Give a $500 grant to student groups – groups mount a crowd-sourced funding drive • Kickstarter, Indie-Go-Go – faculty advisor keeps them on track – use the grant to: • buy materials for prototype • shoot a video • buy advertisement • get web hosting space
  • 4. Application• Short, simple• Evaluate the value proposition – is it suited for Kickstarter or similar? – does it appear to have a market? • ask for a quick market survey as first step• Evaluate the functionality – Students have big dreams – Try to fund reasonable pieces of the dream
  • 5. SmartPurse • An active indiegogo campaign • Flex-funding – not an all-or-nothing deal – Goal is $5k • Established new relationship with a manufacturer near PSU • Used her SparkPlug grant to buy advertising in Vogue to coincide with indiegogo campaign • Dreams of raising $100k with the campaign • From an educational standpoint, already a success
  • 6. PSU EcosystemSequence of courses that focus on idea generation/evaluation Get market reaction using SparkPlug Form a company in Lion Launch Pad
  • 7. Other Connectivity• SparkPlug team sponsors an engineering senior design team – Business students have good idea – hack a prototype – use engineering senior design team to: • clean up prototype • create a design-for-manufacture
  • 8. Clipboard+
  • 9. What we’ve seen• Seeding student ideas leads to: – Increased collaboration between students of many disciplines – Increased self-efficacy – Like an internship: • experience non-academic lessons – Order fulfillment – Customer service – Inventory management – Production problems