Practicing Entrepreneurship: Creating value for a technology-based invention or idea

Michigan State University, 2010 - $29,500

This grant supports a new course in entrepreneurship at Michigan State University (MSU). Currently, the College of Engineering at MSU generates a number of invention disclosures every year from student-faculty teams, but the question of whether a business opportunity exists or not isn’t typically addressed.

The new course will introduce select students and faculty working on IP-generating projects to the entrepreneurial process (opportunity identification, IP strategy, market research, operations, financial analysis, etc.); provide students with a multidisciplinary team experience by including business students on each of the projects; and provide teams with experience in developing formal product feasibility and business plans, submitting them to Michigan’s Great Lakes Entrepreneurship Quest Competition and gaining “real-world” feedback. The program is integrated with university engagement in local economic development programs and has support from those programs for mentoring and support of successful student teams.