E-Team Preparation of SBIR Proposals for Biomedical Research and Commercialization
New Jersey Institute of Technology, 2005 - $17,400Faculty at the New Jersey Institute of Technology are developing a course that combines business and technology students with small biomedical research firms to create SBIR/STTR proposals for projects that could lead to commercialization. NJIT has run a program for twelve years that sponsors MBA students to consult with entrepreneurs on marketing, finance, and management. This project extends that model by combining two biomedical majors with two MBA students to consult with entrepreneurs.
Through the course of the 15-week semester, students work with the client inventor (consulting with professors), working toward writing a successful grant proposal for a small business grant that would move the product to commercialization. Students are graded on three written assignments, with the final one being a completed SBIR/STTR grant.
The program taps into NJIT's Economic Development Center for client businesses to work with students. The incubator business center currently has 57 client firms, many of whom have already worked with the school on the earlier MBA program.
Professors from the Biomedical Engineering and the School of Management, and two directors from local incubator business centers are sponsoring the project. The program also has access to science faculty at Rutgers University and the University of Medicine and Dentistry of NJ.
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