REE October 2007 1

Breakout Session A

Building a Dynamic Entrepreneurship Program

Steven P. NicholsThe University of Texas at Austin

Gary HansenUniversity of California Santa Barbara

REE October 2007 2

Survey Response

Gary Hansen, UC Santa Barbara

Steven P. Nichols, UT Austin

REE October 2007 3

Question 1

How does the concept of "dynamic" apply toan entrepreneurial program?

REE October 2007 4

How does the concept of "dynamic" apply to anentrepreneurial program?

One must be able to anticipate change and how it might affect the environment ofoperation.

A program should be relevant to the entrepreneurial community in which it resides; itshould be relevant to and seeking new opportunities and cross campuscollaborations; it should look to serve the interests of constituencies (the market?) -i.e. aligned with the priorities of business and engineering schools, TTOs, universityinitiatives, community and state interests.

I think "dynamic" applies with respect to the way entrepreneurial programs continue toreact to market needs.

It is a program's essence. In being dynamic, a program creates an environment andtherefore an experience of the entrepreneurial environment.

Entrepreneurship is equally driven by continuous change and dynamic markets.Entrepreneurs themselves need to be vigorous and forceful.

Attendees of the program should be encouraged to face change not only as inevitable butalso desirable.

It must be topical and be seen to react to current trendsThe entrepreneurial process is dynamic, so we have to harmonize the way we work with

the entrepreneur’s way.Experiential A program that takes risks, proactively changes Uses new/non-traditional

teaching methods

REE October 2007 5

How dynamic is your EntrepreneurshipProgram?

Not dynamic (7%)

Somewhat dynamic (26%)

Average dynamic (40%)

Very dynamic (26%)

Extremely dynamic (0%)

Comments:– It depends on the faculty and the program.

– University structures can be restrictive

– We consistently pilot and add new services and experientialcomponents.

– We spend too much time trying to be efficient and therefore notenough time on new value.

REE October 2007 6

How important is "dynamism" to yourprogram's success?

Not important (6%)

Somewhat important (6%)

Important (6%)

Very important (75%)

Extremely important (6%)

Comments:

– Students are more engaged

– This is a non-mandatory program. It survives andgrows on its reputation.

– I believe we should have about 20% new each year

REE October 2007 7

What do you believe are the sources for dynamism inyour “ideal” program?

26 New Students22 Existing Students32 Faculty17 Staff34 Curriculum28 Business-type Plan Competition11 Website/Web resources9 Video Library21 Conferences20 University-based Initiatives18 Entrepreneur-in-residence17 Advisory Board9 Other

– Current leader from industry in the know– Experiential opportunities, working with early stage ventures as well as student

mobility to other Universities– a culture supporting of innovation– Local initiatives like MIT Enterprise or Angel Groups

REE October 2007 8

What are the biggest constraints to building agreat "dynamic" program?

24 Budget/Financial17 Number/size of staff22 Institutional Commitment11 Geography/location18 Faculty support/involvement17 The Bureaucracy7 Interest/quality of students15 Lack of Powerful sponsor9 Business Community/Advisory Board9 Quality and size of institution4 Other

– Lack of institutional creativity & adventure– staff skills and experience– Internal Collaboration with other Faculties

REE October 2007 9

Question 6

If you had more money for your program, whatwould be the first thing you would do with it?

REE October 2007 10

If you had more money for your program, what wouldbe the first thing you would do with it?

Invest in faculty/staff to create better/stronger learning opportunities.Build additional areas of focus through new collaborations and/or programs.Spend it for national and international promotionCreate a bridge fund that would allow students with viable ideas to work on their businesses for 6

months - 1 year after graduation.Provide for further program enhancement activities to complement the learning outside of the

classroom (eg. more experiential learning).Populate the non-management schools with entrepreneurial resources (people, ideas for mini-class

based competitions). Expand the network - of bringing more experience into the classroomand projects. Travel budget to get students out - into industry - entrepreneurial world, the"buyers'" industry, and investment conferences. Create more access points - currently, wehave classes, a business plan competition and a commercialization program. Moreentrepreneurial resources (time, people, money) could help us create "innovation" and"sustainability" programs.

Recruit more dynamic facultyHire a top team that would execute an all-year-round program of teasing activities within the

institution.Construct specialized creative design workspaces to replace the sterile shared space environments

which currently existsPromote networking among entrepreneurs and studentsBuild/renovate a classroom intended for team activities. Additional faculty to deliver and develop

new curriculum. Student prizes to award to seed vision.Entrepreneur in residence -- we have no space and no discretionary $$$.

REE October 2007 11

Please indicate the 3 most important curricular factorsto your program's success and to its dynamism.

Importance to program

10 New courses8 Curricula breadth24 Practitioners teach courses9 Ladder-rank faculty teach11 Course content changes20 Inter-disciplinary class4 Other

Importance to dynamism

20 New courses5 Curricula breadth25 Practitioners teach courses7 Ladder-rank faculty teach12 Course content changes18 Inter-disciplinary class4 Other

REE October 2007 12

What extra-curricular activities do you think contributemost to a program's success and its dynamic nature?

Importance to program10 Mentoring programs7 Student clubs9 New business or venture competitions15 Meetings or lectures from practitioners8 Investment fund to help student start-ups10 Group/team meetings facilities17 Entrepreneurial resources center on campus1 Entrepreneurial or program dedicated dormitory2 Off-campus public service activity for students25 Experience and nature of the program’s staff0 Video library0 Website/Web resources4 Other -- Faculty engagement with students and projects,

experiential opportunities, competitions, financial prizes

REE October 2007 13

What extra-curricular activities do you think contributemost to a program's success and its dynamic nature?

Importance to Dynamism13 Mentoring programs11 Student clubs11 New business or venture competitions9 Meetings or lectures from practitioners10 Investment fund to help student start-ups12 Group/team meetings facilities14 Entrepreneurial resources center on campus2 Entrepreneurial or program dedicated dormitory5 Off-campus public service activity for students20 Experience and nature of the program’s staff0 Video library0 Website/Web resources5 Other -- Business community access (immersion), Student

consulting projects r

REE October 2007 14

What issues/opportunities do you think will be mostcritical to future technology entrepreneurship

programs over the next 5 years?

10 IT or web-based technologies/issues

18 Eco-entrepreneurship, green-tech, sustainability

18 Internationalization of programs, curriculum, activities

15 Life science and Health Care technologies

4 Nano-technology

6 Aging of the global population

4 Other

– Tech transfer /commercialization programs

– Flexible offering in terms of depth/duration

REE October 2007 15

Breakout Session A

Building a Dynamic Entrepreneurship Program

Steven P. NicholsThe University of Texas at Austin

Gary HansenUniversity of California Santa Barbara

REE October 2007 16

Entrepreneurship Programs

Existing programs are as varied as the universities

Determined by the mission and goals of thespecific college of engineering

Strongly context driven

REE October 2007 17

One Size Does Not Fit All:Three perspectives on Entrepreneurship

1. Engineering/Science/Business

2. The University

3. Cross-disciplinary Educational/Research

REE October 2007 18

Entrepreneurshipvs.

Technology Entrepreneurship

Entrepreneurship in Business Schools refers tostarting new ventures (referring to newcompanies—start-ups)

Technology Entrepreneurship need not refer tostarting new ventures– One who creates, initiates, and successfully introduces

new products and services

– Necessary in large companies, small companies, oldcompanies, new companies

REE October 2007 19

Entrepreneurship inEngineering Education

Emphasize technology innovation, creativity, andleadership

Creativity• Novel Applications of Fundamental Engineering Science

• Interdisciplinary Activities

• Professionalism

• Excitement in Discovery

• Intellectual Development From Concept to Market

REE October 2007 20

Source: Jolly, Vijay. 1997. From Mind to Market.

The Process of Technology Commercialization

Jolly Model

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REE October 2007 22

Example: UT Austin

Existing entrepreneurship programs in the Schoolof Business (undergraduate and graduate)

Existing Office of Technology Commercialization

Existing business plan competition

Engineering entrepreneurship program takesadvantage of these previously existing activities

REE October 2007 23

Identification of theInnovation Gap in Engineering Education(using the context of university research)

SustainingOperations

Production &Marketing

CommercialDemonstration

SpecificProductCreation

Tech./Mkt.Opportunity

Creation

KnowledgeCreation

FEEDBACKBusiness Plans &

Incubators

INNOVATION (Synthesis)Univ.

Research INNOVATIONGAP

The Commercialization Process and Innovation Gap

REE October 2007 24

Creation of the Idea to Product® Program

SustainingOperations

Production &Marketing

CommercialDemonstration

SpecificProductCreation

Tech./Mkt.Opportunity

Creation

KnowledgeCreation

FEEDBACK

Business Plans &Incubators

INNOVATION (Synthesis)

The Idea to Product®Program

(curricular and extra-curricular)

Univ.Research

Crossing the Innovation Gap: The I2P® Program

REE October 2007 25

Breakout Session A

Building a Dynamic Entrepreneurship Program

Steven P. NicholsThe University of Texas at Austin

Gary HansenUniversity of California Santa Barbara