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Impact: A Multidisciplinary Approach For Creating High Tech Startups

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Conference

2008 Annual Conference & Exposition

Location

Pittsburgh, Pennsylvania

Publication Date

June 22, 2008

Start Date

June 22, 2008

End Date

June 25, 2008

ISSN

2153-5965

Conference Session

Course-Based Approaches to Entrepreneurship

Tagged Division

Entrepreneurship & Engineering Innovation

Page Count

8

Page Numbers

13.698.1 - 13.698.8

Permanent URL

https://peer.asee.org/4011

Download Count

100

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Paper Authors

biography

Kelly Crittenden Louisiana Tech University Orcid 16x16 orcid.org/0000-0002-7025-5055

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Dr. Kelly Crittenden received his BS and PhD in BioMedical Engineering from Louisiana Tech University in 1996 and 2001 respectively. He is often involved in multidisciplinary work at Louisiana Tech, either through the Integrated Engineering Curriculum or through the IMPaCT (Innovation through Multidisciplinary Projects and Collaborative Teams) program. He is also very involved in STEM education at both the pre-college and college levels.

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biography

Jon Pratt Louisiana Tech University

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Dr. Jon Pratt received his BA in Physics in 1976 from Centenary College. He completed his Ph.D. in Finance at the University of Arkansas in 1986. He has 30 years experience in banking, investments and small business. He is the Director of the Center for Entrepreneurship and Information Technology where he works to foster collaboration between multidisciplinary groups of faculty, students and commercial interests in Louisiana to encourage new business creation. He teaches the university’s innovative entrepreneurship courses emphasizing technology commercialization.

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James Nelson Louisiana Tech University

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Dr. Jim Nelson is the Associate Dean for Undergraduate Studies for the College of Engineering and Science at Louisiana Tech University. He is also the Robert Howson Professor of Civil Engineering and specializes in water resources. He played a key role in establishing Louisiana Tech’s Integrated Engineering Curriculum and now focuses primarily on STEM education research.

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Abstract
NOTE: The first page of text has been automatically extracted and included below in lieu of an abstract

IMPaCT: A Multidisciplinary Approach for Creating High-Tech Startups

Abstract There is a recognized need for creating new innovative high-tech ventures in order for the United States to remain competitive in a global market. This paper will explain how a series of NSF grants, industry partnerships, and collaborative courses have established a multidisciplinary pipeline for identifying and creating high-tech startups capable of competing in the new economy. Engineering faculty and students work closely with their business school counterparts to not only design and test new products, but to also create new innovative ventures.

Projects in the IMPaCT (Innovation through Multidisciplinary Projects and Collaborative Teams) program typically begin by funneling promising faculty research through an Innovative Venture Research (IVR) class. The Innovative Venture Research class is populated with engineering and business students (along with any other student on campus with an entrepreneurial spirit) who spend ten weeks identifying potential applications and markets for the raw research. The next phase of the project is to create multidisciplinary Venture Enhancement Teams (VETs). The VETs use parallel business and engineering courses to simultaneously create a marketable prototype and a sound business plan. The next phase of the program is to demonstrate the new product and business plan to industry professionals, venture capitalist, and other interested parties via a business plan competition and senior design conference.

Products that are not ready for a commercial market, but have shown potential for commercialization can be assigned to another Venture Enhancement Team the following year. Finally, products that are ready for commercialization are awarded space in our business incubator. This collaborative process has already proven effective with the licensing of one project from the 2006-07 academic year. Additionally, industrial and governmental funding of five projects from the 2007-08 year indicates a promising future for the program. This paper will demonstrate an effective method for collaboration between faculty, students, and industry in the creation of high-tech startups.

Introduction and Background Louisiana Tech University is located in a largely rural area with little high-tech industry. In order for this region in particular and the country in general to be competitive in the coming years, new and innovative industries must be developed. The IMPaCT program helps to create new high- tech entrepreneurial efforts in the region by providing an environment for the development of new products based around faculty research and student ideas. One of the major goals of the IMPaCT program is to create an entrepreneurial environment for students and faculty that promotes the development of high-tech startup companies in the region.

The IMPaCT program essentially began during the Fall 2004 and subsequently received two years of NSF funding (NSF-0536482). IMPaCT began as an adaptation of Purdue’s EPICS (Engineering Projects in Community Service) program. EPICS was initiated in the fall of 1995 with NSF funding and has been hugely successful.1 The IMPaCT program provides opportunities for students from all over campus to work together to solve problems. Students can elect to enroll in IMPaCT from several different perspectives. A student can participate in IMPaCT through an engineering capstone design course, or through one of several other courses

Crittenden, K., & Pratt, J., & Nelson, J. (2008, June), Impact: A Multidisciplinary Approach For Creating High Tech Startups Paper presented at 2008 Annual Conference & Exposition, Pittsburgh, Pennsylvania. https://peer.asee.org/4011

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