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Session 3554

A Holistic Approach to Teaching Engineering Entrepreneurship and Technology Commercialization

Carmo D’Cruz, P.N. Vaidy Vaidyanathan University of Central Florida

Abstract

With their creative product and technology ideas, engineers are excellent sources of high growth- potential entrepreneurial and technology commercialization ventures. However, this resource has not been effectively supported by academia in general, to fully realize its potential. This paper reviews contemporary literature on teaching of entrepreneurship and describes an innovative, holistic inter-disciplinary Engineering Entrepreneurship and Technology Commercialization approach backed by the resources and activities of a technology incubator, to provide engineering students and researchers with tools and opportunities for entrepreneurial success, establish deeper and more meaningful community ties, and facilitate the incubation of investable technology-based start-ups. Packaging the “incubator concept” into a series of graduate, undergraduate and continuing education short courses is a unique feature of this program, which offers practical insights, tools, objectives, case studies, strategies, mock negotiations and actions that one can apply to any stage of an entrepreneurial or intrapreneurial venture from initial idea to growth and profitability. The ever-pressing issue of funding is presented as a manageable hurdle and options to structure and develop the business to attract potential investors are presented. The critical roles of engineering, marketing, finance and management are clearly explained as the entrepreneur learns practical and leading-edge approaches to bring products to market and grow the organization. Technology commercialization projects, guest lectures and interaction / networking opportunities with successful or struggling technical entrepreneurs, corporate intrapreneurs, angel investors, venture capitalists, corporate technology managers, technology incubator directors, attorneys, financial advisors, consultants, etc are added benefits of this program. Attempts are also made to resolve/avoid IP issues that commonly impact university-industry partnerships. This program has received very favorable reviews from local, state and national organizations.

Introduction The term “Entrepreneur” is of French origin and was first noted in Savary’s 1723 Universal Dictionary of Business as one who undertook a project; was a manufacturer, or a master builder.1

Proceedings of the 2003 American Society for Engineering Education Annual Conference & Exposition Copyright © 2003, American Society for Engineering Education

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Vaidyanathan, V., & D'Cruz, C. (2003, June), A Holistic Approach To Teaching Engineering Entrepreneurship And Technology Commercialization Paper presented at 2003 Annual Conference, Nashville, Tennessee. 10.18260/1-2--12612