Keith Stanfill
biography :: conference marerials
Establishing and Managing Stakeholder Expectations in a Start-up Multidisciplinary Technology Entrepreneurship Program
Integrated Technology Ventures (ITV) is designed to provide engineering and business students with an immersive entrepreneurial experience.Participating students learn the entrepreneurial process as members of a virtual company led by a serial entrepreneur who acts as a CEO. The company is composed of the CEO, a business development team, and a multidisciplinary technology development team. The company is responsible for creating a prototype and business plan for presentation to investors. Three E-Teams chartered in the initial offering completed their projects in spring 2004. A board was formed to oversee the ITV program and each virtual company. During the pilot, it was discovered that the ITV stakeholders—including students, inventors, faculty, CEOs, and board—had different levels of understanding and operated under differing assumptions regarding the roles and responsibilities for themselves and the others. This paper addresses the lessons learned in managing these expectations and the strategy for going forward.