June 20, 2010
June 20, 2010
June 23, 2010
Entrepreneurship & Engineering Innovation
15.5.1 - 15.5.19
25 Years of Technology Entrepreneurship and Innovation
Over the past 25 years technology entrepreneurship programs of the Maryland Technology Enterprise Institute (Mtech), a unit of the Clark School of Engineering at the University of Maryland (UM), have evolved from an on-campus incubator for technology-oriented startup companies to a dozen innovative programs in entrepreneurship education, venture creation and industry partnerships, three of which are national models. These programs form an innovation ecosystem, a continuum that provides a full range of supportive activities for entrepreneurial endeavors. This continuum can be thought of as a system whose inputs are ideas, concepts and intellectual property (IP), and whose outputs are seasoned entrepreneurs and sustainable companies. Over 600 students enroll in Mtech’s entrepreneurship courses annually. Each year, the most promising research results are selected for company formation and enter into the Venture Accelerator Program for 1-2 years of intense mentoring. Mtech’s technology transfer program enables Maryland companies to access UM faculty and graduate students who develop new and improved products and services for the companies. Since 1987, these programs have contributed $22 billion to the economy of Maryland.
Before 2000, most entrepreneurship programs were in business schools; however, since then, many, if not most, engineering and science schools have instituted various entrepreneurship activities, either alone or in cooperation with business schools. These entrepreneurship activities of engineering and science schools tend to concentrate on “technology” entrepreneurship.
2.0 Overview of Mtech’s Entrepreneurship Programs and Activities
Mtech began in 1984 as a result of an initiative of the Board of Visitors to encourage closer collaboration between the College of Engineering and industry in the State of Maryland. Initial programs included: On-campus incubator opened in temporary buildings and moved to a permanent building in 1998 Program to establish industrially oriented laboratories Manufacturing extension
In 1987, a new program was added to facilitate R&D projects for Maryland companies, carried out on campus by faculty and graduate students – Maryland Industrial Partnerships (MIPS).
Since 1999, Mtech’s entrepreneurship programs have evolved significantly with the following timeline:
1999 Hinman CEOs residential program for juniors and seniors 2001 Technology Startup Boot Camp University of Maryland Business Plan Competition
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