Building Successful Entrepreneurship Education Programs for Engineers and Scientists Slide 1
#1 First Things First Why is This Important? Economic growth depends upon both high technology and entrepreneurship Important skill development for the next generation of technology leaders and managers Opportunity to build strong relationships between university and industry Reputation of universities in your region as innovators Successful entrepreneurs eventually give back to the community Slide 2
#2 What is the Situation in Your Region? Are you located near a vibrant technology industry? What is the primary technology sector in your region? Are there community contacts and role models available? Is the focus on small business or high potential ventures? Slide 3
#3 What is the Situation at the University? Does it fit the university s or school s vision and strategy? What is the university orientation: research or teaching? Is the university mainly publicly or privately funded? Will your audience be undergraduates only or a mix? Is there an identified champion or charismatic leader for this endeavor through faculty or senior staff? Which school or department has the most power and influence in the university? Slide 4
What is the Situation at the University? (continued) What are the existing links to industry? Does the university have a strong commercialization office? What is the support to date and opportunities for more funding? Is there much activity at the business school? Is there support from university administrators and successful alumni? Slide 5
#4 What Can a University Do? BASIC ADVANCED Identify seed funding for a pilot program Identify & support a champion to pilot an e-ship program Implement a simple work/study program (e.g. student internship) Obtain long-term grants and endowments Establish full tenure-line and adjunct faculty, center director, and staff Create an Entrepreneurial Technology Management program with courses, networking and mentors Create brochure and web site Build extensive web site as community resource Slide 6
What Can a University Do? (continued) BASIC Begin an entrepreneurship club for students ADVANCED Build the program: business plan competition, start-up job fair, networking with other schools, weekly email newsletters Start a monthly entrepreneurship speaker series with advisors Offer first course: Introduction to High-Technology Entrepreneurship, using STVP design & case-based instruction Write cases on local ventures Establish weekly, for-credit speaker seminar with online functionality Establish more courses: venture creation, marketing, strategy, finance and leverage existing courses Establish full research effort: books, articles, PhD students Slide 7
What Can a University Do? (continued) BASIC ADVANCED Identify faculty around the university to collaborate Develop an advisory board with key community leaders Develop relationships with VCs Join professional societies such as ASEE (American Society of Engineering Education) and SEFI (European Society for Engineering Education) Create a cross-university entrepreneurship task force Create networking events and mailing lists for your region Consider establishing an incubator Attend and participate in conferences such as REEE (Roundtable on Entrepreneurship Education for Engineers) Slide 8
#5 Who Can Help? Campus Resources Department chairs (e.g., computer science) Engineering faculty Sciences faculty Dean, Provost, and President Business school faculty in entrepreneurship Medical, Law & Education schools Student service coordinators for each department Technology transfer officers Development officers (fundraisers) Campus placement & career skills groups Slide 9
Who Can Help? Community Resources Community leaders Alumni: entrepreneurs, CEO s, & founders High-technology companies Local business associations Support services: venture capitalists, law, accounting and consulting Government leaders Slide 10
Who Can Help? Global Resources Stanford Technology Ventures Program http://stvp.stanford.edu Center for Scientific Enterprise in London http://www.cselondon.com Lifelong Learning for Entrepreneurship Education Professionals http://www.lleep.org Kauffman Foundation http://www.emkf.org Slide 11
Who Can Help? Global Resources (continued) American Society of Engineering Educators (ASEE) http://www.asee.org/ National Collegiate Inventors and Innovators Alliance (NCIIA) http://www.nciia.org European Foundation for Management Development http://www.efmd.be For a full list, see the STVP Educators Corner http://stvp.stanford.edu/educators Slide 12
#6 How Much Will It Cost? Startup Costs ~$150K Basic Basic Budget ~$100K / year Advanced Advanced Budget ~$300K / year Note: Some of these costs could be in-kind support from the university, such as existing tenured faculty and facilities. Slide 13
#7 What are the Obstacles and Solutions? OBSTACLE Lack of funding SOLUTIONS Look for: Successful entrepreneurs & alumni High-technology companies Local business associations Trusts and foundations Local, regional, national government support No support from faculty Partner faculty with an entrepreneur Combine teaching & research efforts Most often IE, ME, and Bus. faculty Slide 14
What are the Obstacles and Solutions? (continued) OBSTACLE SOLUTIONS Lack of teaching talent No support from senior university leadership Bring entrepreneurs in to help Collaborate with other universities Seek help from university president and development office Consider partnering with another school within university, e.g., medical No clear charismatic leader Bring in a successful, dynamic leader from industry, e.g., a retired executive Slide 15
What are the Obstacles and Solutions? (continued) OBSTACLE SOLUTIONS Student demand overwhelms supply Turn scarcity into selectivity Leverage online resources Cross-campus rivalries at school or program level Few educational resources Create a cross-university entrepreneurship task force Bring local businesses into the class Use your technology transfer office Visit European Case Clearing House http://www.ecch.cranfield.ac.uk/ Visit STVP Educators Corner http://stvp.stanford.edu/ Slide 16
Thank You! Contributors to Presentation Tom Byers Katherine Emery Tom Kosnik Tina Seelig Peter Reid Jeff Skinner For a copy of these slides, visit: http://stvp.stanford.edu/presentations Slide 17