technological innovation: generating economic results nsf igert program presentation ree october 27,...
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Technological Innovation: Technological Innovation: Generating Economic ResultsGenerating Economic Results
NSF IGERT Program PresentationREE October 27, 2004
Marie ThursbyHal and John Smith Chair for EntrepreneurshipCollege of Management
TI:GERTI:GER®®
Cross-University Graduate Program inCross-University Graduate Program inTechnology EntrepreneurshipTechnology Entrepreneurship
• Technology commercialization requires integration of
– Science & Engineering expertise
– Knowledge of management, law, economics, and public policy
• Targeted students
– PhDs in Science & Engineering (Ga Tech)
– PhDs in Management (Ga Tech) and Economics (Emory)
– MBAs (Ga Tech)
– Law (Emory)
Industry Survey on PhD GraduatesIndustry Survey on PhD Graduates
• “Good”
– Technical Skills
• “Inadequate”
– Ability to think & solve problems
•“Need Improvement”
–Management Skills
–Communication Skills
–Teamwork Skills Source:
IRI Interviews with Industrial Leaders RE: University Education of Engineers and Scientists
Need for TI:GER trained PhDsNeed for TI:GER trained PhDs“Biggest Problem(s) in R&D”“Biggest Problem(s) in R&D”
• Managing R&D for business growth
• Balancing long-term and short-term R&D
• Integration of R&D and business strategy
• Making innovation happen
• Assessing productivity
•IRI Survey > 190 Responses (4 of 5 years) “Top 5 ‘Top 3’ Problems”
Need for TI:GER trained MBAs and JDs-Need for TI:GER trained MBAs and JDs-Understanding Technology HelpsUnderstanding Technology Helps
Comprehensive GoalsComprehensive Goals
• All graduates with skills and entrepreneurial perspective needed to succeed in innovation related careers
– S&E PhDs aware of business and legal issues– MBAs & JDs experienced in technical research environment– Communication and team skills
• Produce S&E dissertations of technical merit and market relevance
• Produce dissertations in management, law, and economics that improve our understanding of innovation
PhDs
PhDs
Science Classes/Labs
Interdisciplinary Research Centers
Engineering Classes/Labs
JDs & MBAs
PhDs
Law/Mgt Classes
Thesis ResearchEcon/Mgt Classes
Clinics/Internships
Market Informed S&E Research
Graduates aware of technical, legal, market, interpersonal, &
communication issues
Mgt/Law/Econ Research on the Innovation Process
TI:GERCore multi-disciplinary
teams & classes
Multidisciplinary Research:
Engineering, Science, Management, Law &
Economics
TI:GER vs. TI:GER vs. Traditional Graduate ProgramsTraditional Graduate Programs
Activities By Year (PhD Candidates)Activities By Year (PhD Candidates)
TI:GER Participation
1 2 3 4 5
S&ECourses
RegularRA/TA
S&ECourses
RegularRA/TA
Principlesof
Management
Innovation Fundamentals
TI:GER Teams& Workshops
InnovationElectives
TI:GER CaseCourse
TI:GER Teams& Workshops
Entrepreneurial Finance, Legal Issues in Technology TransferOrganizational Entrepreneurship, Special Topics in Technology Mapping, Technology Venture Creation
MBA ProgramMBA Program
1 2MBA Core
Innovation Fundamentals
TI:GER Teams& Workshops
InnovationElectives
TI:GER CaseCourse
TI:GER Teams& Workshops
MBA
TI:GER Participation1 2 3 4 5
PhD Program
Emory JD ProgramEmory JD Program
1 2 3 4 5
PhD Program
TI:GER Participation
JD
12 3
Corporate Finance
IP/Business Law/Tax Concentrations
TI:GER CaseCourse
TI:GER Teams& Workshops
Law Core Business Associations
Patent, Copyright &Trademark Law
Innovation Fundamentals
TI:GER Teams& Workshops
1
Fundamentals of Innovation (Year 1)Fundamentals of Innovation (Year 1)
Patterns of Technological Change
Introduction to Intellectual Property Law
Developing the IP Strategy
Discovering and Framing the Market Opportunity
Entrepreneurial Finance
Commercialization Planning
Fundamentals of Business Associations
Start-Up Business Planning and the Path to Profitability
Securities Law
Special Topics in InnovationSpecial Topics in Innovation (Year 2) (Year 2)
Business Planning Workshop
Entrepreneurial Spawning Seminar ( Josh Lerner)
Patent Prosecution Workshop
Venture Capital Financing Simulation
Ethical Challenges in Developing and Commercializing New Life
Sciences Technologies Seminar
Unique Team Experience Unique Team Experience
Hypothesis formation Scientific merit; technical feasibility
Proof of concept Testing and validation
Prototype Refinement and scale-up
Market forecast Prior art, economic and social impactLegal landscape
Competitive analysis Risk, product and platform definitionIntellectual Property Protection Patent or copyright
Business creation or licenseCapitalization
Commercialization strategy Full market analysis (e.g. pricing, cost)Business Associations Contractual issues
INTEGRATED RESEARCH S&E/MGMT/LEGAL ISSUES
Summary Student StatisticsSummary Student Statistics
• 16 PhD Candidates, developing EARLY STAGE research in a range of disciplines
• Biology
• Biomedical Engineering
• Chemistry
• Computer Science
• Electrical Engineering
• Mechanical Engineering
• 1 PhD Candidate in Economics; 2 in Management
• 16 MBA Students
• 30 JD Students (Technology and Patent Law)
Keys to CollaborationKeys to Collaboration
• Mutually beneficial activity for all units involved
• Internal buy-in– Faculty—
• Supplying students• Participation
– Administration• Course credit
• External support– Industry-business partners– Private foundations (NCIIA, Peterson)– Government grants (NSF)
ChallengesChallenges
• Logistics …e.g. distance, schedules
• Time commitment of faculty…e.g. credit toward teaching load
• Cultures separated by a common language …e.g. What is research?– PhD (create new knowledge, experimental methods)– MBA (market research, bottom line)– JD (logical progression, precedent)