entrepreneurial mindset matters for engineers - the why, what, & how

7b people.

Or the US and 550,000

undergraduate engineers,

or 31,000 engineering educators.

What about one individual?

Ben Wagner was engineering student disillusioned with engineering.

Let’s look at the landscape Ben and this generation faces…

Projection Population by GenerationIn millions

90

70

50

30

10

2014 2028 2036 2050

SILENT

BOOMER

GEN-X

MILLENNIAL

Millennials are 18-34 in 2015

Source: Pew Research Center tabulations of US

Census Bureau population projections, Dec 2014

What’s new? Millennial’s rule.

MatureTechnology

While the technology “S-Curve” is familiar…

UnderDevelopment

Adoption

KeyImprovements

Pe

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rma

nc

e

(eff

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nc

y, lo

we

r c

os

t, f

un

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on

alit

y, in

teg

rati

on

…)

Time

Disrupting the norm,

has become the normP

erf

orm

an

ce

(eff

icie

nc

y, lo

we

r c

os

t, f

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…)

Time

“Accelerating returns” produce ever increasing rates of change

Decreasing Product

Lifespans

36mo

24mo

2002 2016

Contact Pressure on Product Development Times

e.g. Automotive Industry

Returns are more about people and ideas than capital assets

US Utility Patent Awards & Non-US Awardees

D. Melton, Source: USPTO Database, Dec 2015

Protected intellectual property is skyrocketing within a globally competitive economy.

Note: The decrease is despite a disparity between unemployment rates * 8.1% 2013 Unemployment for general population * 3.8% 2013 Unemployment for scientists and engineers (NSF NCSES) * 5.0% 2015-Dec Unemployment for general population

See the Gallup blog post regarding unemployment rate

http://www.gallup.com/opinion/chairman/181469/big-lie-unemployment.aspx

50%

Obsolete

Ref: An Engineering Career: Only a Young Person’s Game? By Robert N. Charette, IEEE Spectrum Posted 4 Sep 2013 http://spectrum.ieee.org/riskfactor/computing/it/an-engineering-career-only-a-young-persons-game

by the time you graduate

http://spectrum.ieee.org/riskfactor/computing/it/an-engineering-career-only-a-young-persons-game

What is Mindset?

dispositionsAttitudes

Motivations}

MINDSET

Technical acumenCommunication

Project Management}

SKILLSET

what fraction of success can be attributed to Each?

discuss…

mindset vs. skillset

for long-term success: % ____ Mindset% ____ Skillset

frequent responses: 50-70%

associated with mindset

Why?

What? How?

#1: Belief in the opportunity and obligation of higher education

to transform individuals

Why?

#2: Belief that value creation leads to individual fulfillment

Why?

#3: Belief that creatingeconomic and societal value

leads to jobs and global well-being

Why?

Doubling down on even more hard sciences

and math will not help. Instead, we need to

incorporate new elements into engineering

students’ education to give them both the

skillset and the mindset needed

to become leaders in addressingsocietal challenges.

Dr. Richard Miller, Olin College NAE Newsletter

What? How?

Why?

MINDSET

SKILLSET

MINDSET SKILLSET+

a tandem development

MINDSET SKILLSET+

THE ENGINEER WE NEED HAS AN ENTREPRENEURIAL MINDSET COUPLED

WITH ENGINEERING THOUGHT AND ACTION,

EXPRESSED THROUGH COLLABORATION AND

COMMUNICATION, AND FOUNDED ON

CHARACTER.

ENTREPRENEURIAL MINDSET

Identifyan opportunity

Performtechnical design

Investigatethe market

Validatemarket interest

Createa preliminary

business model

Communicatean engineering solution

in economic terms


LQ�WHUPV�RI�VRFLHWDO�EHQHƓWV

Evaluatetechnical feasibility

customer valueVRFLHWDO�EHQHƓWV

economic viability

Developpartnerships and

build a team

Testconcepts quickly via

customer engagement

Identifysupply chains

distribution methods

Assesspolicy and

regulatory issues

Analyzesolutions

Createa model or prototype

Validatefunctions

Protectintellectual property

Developnew technologies

(optional)

COMPLEMENTARYSKILLS

OPPORTUNITY DESIGN IMPACT

Determinedesign requirements

THESE SPECIFIC SKILLS REINFORCE THE DEVELOPMENT OF AN ENTREPRENEURIAL MINDSET





Createa preliminary

business model


in economic terms





economic viability


build a team


customer engagement



Assesspolicy and

regulatory issues

Analyzesolutions


Validatefunctions



(optional)

COMPLEMENTARYSKILLS




the traditional engineering

skillset needs expansion





Createa preliminary

business model


in economic terms





economic viability


build a team


customer engagement



Assesspolicy and

regulatory issues

Analyzesolutions


Validatefunctions



(optional)

COMPLEMENTARYSKILLS




MINDSET SKILLSET+

a tandem development

What?

How?

Why?

Our mission is to

graduate engineers

with an

entrepreneurial

mindset so they

can create

personal, economic,

and societal value

through a lifetime

of meaningful work.

Focus, focus, focus:Undergraduate

Engineering (first connections)

Mindset (within “entrepreneurship continuum”)Network of intellectual capital

Private Institutions (now expanding)

Networkoffaculty

Physical

Protocol

Application

Network Stack

Tactics

Strategies

Vision

Management Stack

SBL, ACL, etc.

PBL, CBL

EML

Pedagogy Stack