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Session 1693

Integrating Entrepreneurial Projects into a Successful Multidisciplinary Capstone Design Program at the University of Florida

R. Keith Stanfill, Erik J. Sander, William J. Rossi, H. A. Ingley, E. Dow Whitney, Marc I. Hoit

University of Florida Department of Industrial and Systems Engineering / University of Florida College of Engineering / University of Florida Warrington College of Business Administration / University of Florida Department of Mechanical and Aerospace Engineering / University of Florida Department of Materials Science and Engineering / University of Florida College of Engineering Engineering /

Abstract The University of Florida Integrated Technology Ventures (ITV) program is designed to provide engineering and business students with an intense, immersive entrepreneurial experience. The ITV program builds upon successful UF industry interaction model programs such as the Integrated Product and Process Design (IPPD) program, where multidisciplinary student teams design and build industry-sponsored products; the Center for Entrepreneurship and Innovation (CEI), the Office of Technology Licensing (OTL), and two university supported technology start-up incubator facilities. The students learn the entrepreneurial process as members of a virtual technology start-up company led by a so called “serial” entrepreneur—a technology venture start-up specialist—who serves as a CEO. The company is composed of the CEO, a business development team of 2 to 5 MBA students (coached by entrepreneurial faculty) and a multidisciplinary technology development team of 6 undergraduate engineers (coached by engineering faculty). The company is supported by a variety of commercialization specialists and local technology incubators. The technology development team participates in the two-semester IPPD course, which has been supplemented with an Entrepreneurship Lecture series. The company is responsible for creating an alpha system prototype and collateral materials such as a business plan and presentation for entry in academic business plan competitions. Three pilot entrepreneurial teams were chartered in the initial offering. The initial virtual companies are centered on patented technologies in the diverse areas of passive ground water contamination flux monitoring, large animal health monitoring, and respiratory muscular system training. Funding for these projects has been secured through the Economic Development Administration, the Lemelson Foundation (via the National Collegiate Inventors and Innovators Alliance), and the University of Florida.

Introduction The University of Florida (UF) Integrated Technology Ventures (ITV) program provides a unique experiential learning environment for engineering and business students. The ITV program offers undergraduate engineers and MBA students the opportunity to work together within a virtual technology start-up company. Each company is led by an external entrepreneurial Chief Executive Officer (CEO) responsible for delivering a business plan, “Proceedings of the 2004 American Society for Engineering Education Annual Conference & Exposition Copyright  2004, American Society for Engineering Education”

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Rossi, W., & Ingley, H., & Sander, E., & Whitney, D., & Hoit, M., & Stanfill, R. K. (2004, June), Integrating Entrepreneurial Projects Into A Successful Multidisciplinary Capstone Design Program At The University Of Florida Paper presented at 2004 Annual Conference, Salt Lake City, Utah. 10.18260/1-2--13172