NYU I-Corps Summer 2017
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Slides from the NYU I-Corps Infosession on 15 February 2017.
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NYU I-Corps Summer 2017
- 1. NYU 2017 Summer I-Corps Convergence in Innovation and Entrepreneurship (CIE) Chris Leslie (chris.leslie@nyu.edu) 15 February 2017
- 2. About CIE CIE’s Mission is to increase diversity in STEM Entrepreneurship and provide guidance as well as resources to STEM innovators to start-up. CIE’s projects: Capstone Competition The VentureWell Grant National Science Foundation I-Corps Visit us at engineering.nyu.edu/cie Contact us at cie@nyu.edu
- 3. Annual capstone competition 2016 winners. counterclockwise from top: 1st place, Urbanamino; 2nd place, M.E.G; 3rd place, 3DeltaWorks. Hone entrepreneurial skills of engineering students Provide incentive to work hard on senior projects Showcase business acumen and presentation skills 2017 edition: Friday, April 21st, 1:00 to 4:00 PM Visit us at engineering.nyu.edu/cie Contact us at cie@nyu.edu
- 4. Precapstone funded by VentureWell 3-credit elective in fall 2017 Multidisciplinary team of faculty Lean LaunchPad / customer discovery / prototyping Inspire entrepreneurial, interdisciplinary senior capstones Look for application in early March Visit us at engineering.nyu.edu/cie Contact us at cie@nyu.edu
- 5. I-Corps site (pending final NSF approval) NSF program to promote customer discovery in research Support 30 teams per year Network with faculty and entrepreneurial mentors NYU program features: funds for prototyping summer workshop diversity in STEM entrepreneurship Visit us at engineering.nyu.edu/cie Contact us at cie@nyu.edu
- 7. CIE survey What factors impact diversity in STEM entrepreneurship? Market our ideas, but also understand diversity generally Responses: 221 responses, 127 finished (57%) Seven schools of NYU, but 92% from Tandon Mostly STEM majors (96%) Mostly male (58%) undergraduates (61%)
- 8. These students are the future. And what they create today can impact the world they will live in tomorrow. Some are bound to succeed and help in changing the world, possibly making business a better place for minorities/discriminated-against groups Women’s words: be part of the future
- 9. These students are the future. And what they create today can impact the world they will live in tomorrow. Some are bound to succeed and help in changing the world, possibly making business a better place for minorities/discriminated-against groups They are generally at an early stage of their careers when there is more time to recover from a failure and less to lose when taking risks. There's not much to lose at this point Women’s words: there is little to lose
- 10. They are generally at an early stage of their careers when there is more time to recover from a failure and less to lose when taking risks. There's not much to lose at this point These students are the future. And what they create today can impact the world they will live in tomorrow. Some are bound to succeed and help in changing the world, possibly making business a better place for minorities/discriminated-against groups Women’s words: skills and education It's a great way to gain confidence/self-esteem, try/learn new things … and get excited about something they create/build from scratch Simply beginning to … develop entrepreneurial traits improves one's thinking. it is insufficient to simply be skilled in one field, entrepreneurship skills can be applied to every subject … students suffer in their achievements due to their lack of familiarity with entrepreneurship. Something that enhances a personal level
- 11. Why do people become entrepreneurs? 26% 21% 32% 20% Work by own rules Make money Work by own rules Make positive impact Women Men
- 12. What are student entrepreneur problems? 21% 20% 25% 15% Lack financing Inexperience Lack financing Need to work Women Men
- 13. Women in STEM and entrepreneurship Field: STEM Entrepreneurship According to women 32% 31% According to men 35% 32% Statistically 20%–30% 25%
- 14. Concerns about diversity Does gender diversity in STEM entrepreneurship concern you? Women Men No. If more women want to get involved, they will do so. 8% 31% Yes. The lower percentage of women in this area means that we are excluding talented people. 38% 24% Yes. Entrepreneurship and STEM are good fields and women should have more access to them. 27% 21% Yes. If we do not have women involved, we may not have all of the best ideas. 19% 18% Combined yes: 84% 63%
- 15. NYU I-Corps
- 16. Lean LaunchPad Stanford class by Steve Blank in 2010 Hypothesis-driven testing to ensure product-market fit “Get out of the building” to gain data from potential users Instead of business plans, iterate business-model canvas Hone idea into a “minimally viable product” for future work Became the preferred method for national ecosystem 2016
- 17. NSF I-Corps Started by the National Science Foundation in 2011 Build on fundamental research for products or technologies to benefit society Education that is immersive and hands- on (uses Lean LaunchPad)
- 18. NSF I-Corps Site Sponsor 30 I-Corps teams per year Students Faculty Entrepreneur Customer discovery through Lean LaunchPad Specifically for STEM entrepreneurship NYU site pending funding by the NSF Student team Entrepreneur Faculty mentor
- 19. NYU I-Corps Site Four-week summer program: July 17 to August 11 Monday, Wednesday, Thursdays Evenings from 6 pm to 9 pm Committed to diversity: Goal of 50% teams including women Portion of program dedicated to diversity in STEM and entrepreneurship Pending funding from the National Science Foundation Student team Entrepreneur Faculty mentor
- 20. Who are the student team members? Leader: full-time, continuing NYU graduate or undergraduate student Partners can be fellow students, alumni, friends All contribute to customer discovery with interviews and prototypes Team should attend all summer workshop meetings Possible for one team member (not leader) to be working full time, but this is not ideal
- 21. Who are the other team members? Faculty advisor NYU faculty member Meets once a week in summer Provides feedback on evolving canvas and prototypes Entrepreneurial mentor Anyone with relevant industry experience Helps students identify customers Provide insight into decoding interviews (once a week minimum)
- 22. Components of summer program Flipped instruction: LLP videos at home, discussions with group Get out of the classroom … talk to “customers” Create and iterate Business Model Canvas Practice interview techniques and decode what they mean Prepare prototype for better interviews Information about diversity, commercialization, further funding
- 24. Who should participate? 1. Desire to learn more about STEM through team-based, entrepreneurial projects 2. Achieve social goal, like providing clean water or empowering women in STEM 3. Develop specific entrepreneurial project
- 25. Timeline Now: Enter your interest to apply: goo.gl/CC0VHp Before March 3: Complete your application Week of March 12: interviews for some teams End of March: notifications Two or three dates to help settle teams and projects July 17 to August 11: summer program (M/W/Th evenings)
- 26. Benefits of this program Modest funds for prototyping Chance to apply for up to $3,000 more over the fall semester Connection with mentors (faculty and entrepreneurial) Internships $50K I-Corps grants with faculty PI Preparation for competitions (InnoVention, Prototyping Fund, Summer Launchpad, etc.)
- 27. Your next steps Enter your interest to apply: goo.gl/CC0VHp Contact faculty mentor (from our list if needed) Think about your project (either goal or innovation) Prepare answers for questions: Interest/background in STEM Entrepreneurship experience or reason it is important Diversity in STEM entrepreneurship What do you hope to get out of the program?
- 28. NYU 2017 Summer I-Corps Convergence in Innovation and Entrepreneurship (CIE) Chris Leslie (chris.leslie@nyu.edu) 15 February 2017