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Effect of Entrepreneurial Mindset on Funding Opportunities for Fundamental Research

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2018 ASEE Annual Conference & Exposition


Salt Lake City, Utah

Publication Date

June 23, 2018

Start Date

June 23, 2018

End Date

July 27, 2018

Conference Session

Entrepreneurship & Engineering Innovation Division Technical Session 6

Tagged Division

Entrepreneurship & Engineering Innovation

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Paper Authors

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Samarth Gupta Purdue University


Greg J. Strimel Purdue Polytechnic Institute Orcid 16x16

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Dr. Greg J. Strimel is an assistant professor of engineering/technology teacher education in the Purdue Polytechnic Institute at Purdue University in West Lafayette, Indiana. His prior teaching experience includes serving as a high school engineering/technology teacher and a teaching assistant professor within the College of Engineering & Mineral Resources at West Virginia University.

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Proliferation of Lean Launchpad, a curriculum designed by Steve Blank and adopted by National Science Foundation as Innovation-Corps program, has created myriad opportunities for commercialization of existing technology and funding innovative ideas which otherwise would never have seen the light of the day. Identifying the merits of funding research based on value proposition and customer demand, key components of the Business Model Canvas, has created a paradox for Endowment Funds, Family Offices and even Federal Funding agencies on whether to continue support for fundamental research in hi-tech laboratories or to think like a Venture Capital investor hoping to hit a home-run. In a world where the focus is on market viability of research, is the future bleak for fundamental scientific curiosity? Are we on the right path turning Endowment Funds, Family Offices and Federal agencies into Venture Capitalists? Is there any motivation for researchers to get their hands dirty at fundamental scientific curiosity when you can just apply a business model canvas to almost everything? This paper explores the question whether universities with higher federal funding for fundamental research are also able to create more opportunities for entrepreneurship.

Gupta, S., & Strimel, G. J. (2018, June), Effect of Entrepreneurial Mindset on Funding Opportunities for Fundamental Research Paper presented at 2018 ASEE Annual Conference & Exposition , Salt Lake City, Utah. 10.18260/1-2--30352

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