Technical Entrepreneurship (TE) through Integrated Product Development (IPD) Professor John B Ochs, Ph D Lehigh University, Bethlehem, PA NCIIA Open 2012
Lehigh’s IPD Program• Started in 1994• 18 years of a not-so-quiet revolution in education• Truly interdisciplinary in students & faculty – business, design arts, engineering, education• Pre-college through graduate• Collaboration with industry throughout – planning – projects – sponsorship• Aims to create an environment for fostering student technology entrepreneurs
IPD Program Tenets• Innovation, fueled by creativity, is an important economic development engine• The greatest opportunity for innovation occurs at the intersections of disciplines• Innovation is a process that can be imitated by experiencing it.• The greatest chance for economic success comes from a diverse interdisciplinary globally-oriented team experiencing an innovation process.• Entrepreneurs are needed to lead these teams, assess the opportunity, take on the risks, manage the development process and find the resources needed to launch the new ventures.
Our Program VisionIt is our vision to create and foster anenvironment, culture and communitythat is imaginative, creative, innovative,diverse, interdisciplinary, experientialand globally oriented, morally andethically grounded, technologicallysavvy and entrepreneurially focused.
Educational Approach• Use cross disciplinary teams and develop teamwork experience• Seek alumni and industry sponsorship and help• Provide opportunity for student entrepreneurs• Guide teams through a IPD process• Emphasize the experience with outcomes needed but of secondary importance• Emphasize modeling and simulation• Emphasize prototype development• Emphasize oral & written presentation skills
Product Development Methodology• Encourage Student Entrepreneurs through campus- wide “Student Entrepreneur’s Competition”• Team with local startup companies and alumni• Industry sponsors for product and process improvement• Follow the IDEO “Deep Dive” process• Use truly multi-disciplinary teams• Use faculty as “guides on the side”• Encourage risk taking – “wow” effect• Learn from and publish failures• Rely on extensive support infrastructure– labs & staff
IPD Overview: Level #1 Innovation is the economic engine driving the creation of societal wealth Other Revenues Paying Customers Purposes Investment in Innovation Products Innovation Engine Manufacturing ServicesPeople and businesses invest in new products because the expected yield in long term growth and profits is greater than other alternatives
IPD Overview: Level-2 Project and Process Management Manufacturing Development Manufacturing Conceptual 3 Ramp-up Sales,Opportunity Design & Product Service & Scanning Product Planning Development 4 Support Market 3 Introduction 5 1 2 Market Development 4 3 Documentation and Data Management 8
IPD Tasks & Deliverables• Company & Industry • Concept generation/ selection Research • Detailed Design description• Customer needs • Prototype design &• Competitive development benchmarks • Prototype testing• Target markets • Production planning• Marketing strategies • Market Planning• Target pricing • Cost & cash flow analysis• Target specifications & • Value statement constraints Oral & poster briefings & written reports
IPD Capstone Project Statistics• >200 Industry Sponsors• >1500 students in over 175 project teams• 2011 Capstone Courses: 30 teams and 193 students• Average of 13 faculty advisors per year• Projects from a) companies, b) local entrepreneurs, c) student entrepreneurs• Contacts made through Lehigh’s Career Services, Corporate Relations, Alumni, SBDC & Ben Franklin Center• 13 CONSECTUTIVE YEARS of NATIONAL WINNERS for student technology entrepreneurship: NCIIA E-team and program development grants $13K-$25K
Powerhouse: Entrepreneurial Student Project Center
Thank you!For more information go to: www.lehigh.edu/ipd/ www.lehigh.edu/innovate/www.lehigh.edu/entrepreneurship/