The document discusses an entrepreneurship course designed for science and technology students at La Salle University. The course aims to teach students basic business concepts and skills needed to successfully commercialize their technical ideas. It emphasizes that both strong technology and business acumen are required for real success. Specific topics covered in the class include idea recognition and feasibility, marketing, intellectual property, financing, and team building. Student feedback indicates they found the class useful and learned skills they can apply to starting their own ventures.

1. ENTREPRENEURSHIP AND
HIGH TECHNOLOGY
BUSINESS
An entrepreneurship class for
science and technology students
La Salle University
Marsha Wender Timmerman
Integrated Science Business and Technology

2. The Problem
• Science and technology students have the
creativity and knowledge to generate new
high technology product ideas
• They do not understand business
• They do not speak the language of business
• They view the science and technology as the primary
goal
• Business is the secondary, much less important
goal

3. The Solution
• Prepare a course specifically for these
students
• Emphasize that the technology know how must be
partnered with business know how
• Real success requires good technology and good
business
• Devote equal time to the technical and business concerns
• Teach the course using “technical” language, not
“business” language

4. Specific Goals of the Course
• To guide students through the process from idea
recognition to reduction to practice.
• To inform students about what intellectual property is and
the best ways to protect it.
• To teach students basic business concepts that will
enable them to make good business decisions.
• To help students understand organizational structures that
will allow them to be the leaders of their ventures while
surrounding themselves with individuals whose strengths
complement their weaknesses.
• To provide students with a road map that enables them to
start their own ventures.

5. Class Discussion Topics
• Introduction to Entrepreneurship
• Confidentiality Agreements
• Entrepreneur Profiles
• Idea Recognition
• Idea Feasibility
• Corporate Entities
• Business Plans
• Marketing
• Competition
• The Team
• Intellectual Property
• Financial Management
• Cash Flow Statements
• Profit and Loss Statements
• Balance Sheets
• Ethics
• Financing the Startup Venture
• Operations
• Managing Growth

6. Confidentiality Agreement
• Most students are very concerned about
someone “stealing” their idea
• Make students comfortable sharing their thoughts
and ideas
• Improve their understanding of what is
confidential information and what is not
• Learn to read and understand legal agreements
• Understand the enforceability of confidentiality
agreements

7. Entrepreneur Profiles
• Bring in practicing entrepreneurs to tell their
own stories
• University professor creating a cancer diagnostic test
• Software engineer who created a consulting company
which helped pharmaceutical companies be more
efficient
• Electrical engineer making home automation products
• Biologist making enzyme based diagnostic products
• Serial entrepreneur in computer hardware
• Students interview and report on entrepreneurs
that they personally know

8. Idea Recognition
• Ideas are the heart of the high technology
enterprise
• Encourage creativity
• Encourage thinking outside the box
• Need to be open minded to all new ideas
• Keep a record of all ideas

9. Idea Feasibility
• Requires all of their technical skills to make
the idea a reality
• This is what the technical entrepreneur worries
about most
• Ideas need to be more than technically
feasible
• There needs to be a customer
• There must to be a need
• There must be a way to get the product to the
customer

10. Marketing
• MARKETING IS THE KEY TO THE
SUCCESS OF THE VENTURE
• Technology students do not appreciate or
respect the value of good marketing
• What is marketing
• Why is it important
• Who is the customer
• How do you reach the customer

11. The Team
• SUCCESS OF THE VENTURE DEPENDS
ON MORE THAN THE TECHNOLOGY
• Students must understand that they cannot
create and build the entity by themselves
• The Entrepreneur must surround themselves with
people who have expertise in those areas where
they are weak
• Know their strengths and weaknesses
• Creative approaches to compensating team
members

12. Intellectual Property
• A local intellectual property attorney leads
this discussion
• Discuss the pros and cons of intellectual property
• What can be protected and what cannot
• What does it cost
• Is it worth the money
• Enforcement

13. Financing the Venture
• Most technology ventures require research
and development
• No revenue during this period
• Large outflow of cash
• Need to raise substantial money
• Where does the money come from
• How does one go about raising money
• What are the risks to the entrepreneurs
• What are the risks to the investors
• What is an exit strategy and which are relevant to their
type of business

14. Results
• 125 Students have taken the class
• Most have received a B or better
• Students evaluations
• Like the class
• Willing to recommend it to their friends
• Learned a lot
• Types of ideas
• Biotechnology and healthcare ideas
• Computer hardware
• Software

15. What is an Appropriate Assessment
• Current Assessment
• Class discussion and participation
• Mid-term
• Have students read and critique a business plan
• Business Plan
• Other Forms of Assessment
• Creation of new business
• Now
• In the future
• Filing of patents
• Working for an entrepreneurial venture

16. ACKNOWLEDGEMENT
Special thank you to all the students who
have taken this course during the past 8
years. I have thoroughly enjoyed their ideas
and hope that one day I will see some of
these potential products available for sale