ISSIP Education & Research SIG Innovation Team Education

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Innovation Team Education

ISSIP Education & Research SIG

TWO PROGRAMS FROM THE INNOVATION CAPITOL OF THE WORLD

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Agenda• Punch-in-the-Nose

• Observed and Perceived Needs

• Personal Background

• Program Outlines

• Prototype Results

• Research Interests

• SIG Guidance on Research Directions and Dissemination

• Thank You

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Defining Successful Innovation?

1. Leads to a commercialized service innovation (product): Direct or integrated into another

2. Value-creation for users

3. Positive net cash return on investment (funds, people, facilities…)

4. Provides career and skill development to participants (“Beefy T’s”)

5. May lead to faster innovation of related or new projects

“Hit rate” globally estimated to be low (<10%). What else constitutes “success”?

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Observed Productivity Needs1. Faster

2. Market orientation during ideation

3. Entrepreneurial mind-set (resource attraction and value creation)

4. Better team selection, development and career enhancement� T-shapedness relevance

5. Successful commercialization

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Background• US National Science Foundation reviewer

• SBIR / STTR grants for innovation teams in start up companies

• Accelerating Innovation Research grants to university-based tech transfer candidate projects

• Consulting: Strategy, OD, M&A, Financial Management (incl. with service startups)

• Taught and coached thousands of entrepreneurs and executives

• Wrote $1.6m funded program on creating entrepreneurial mindset in STEM students

• PhD Candidate / Kettering MS IT / NYU MBA (Finance, International Business)

Observed needs first hand. Seek to contribute to development of high performing innovators.

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Productivity Requires Minimally

Skills

Behaviors

Attitudes

$

New Product

Development

Investment

Organization:

Go-to-Market,

Production,

Aftercare

Profitable

Product with

Value Buyers

and Returns

on Investment

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Training Roots• IBM Tech Workshops

• NJ EDA / NJ Transit – Community Entrepreneurship(1990s)

• Kauffman Foundation’s TechVenture (2000s)

• TechWorks (2008 – 2012)

• YES Flint (2010 – 2012)

• TechTown Detroit (Now)• VentureLab• DTX Launch

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T-Shapedness• Ah hah moment on my first SIG call.

• Perfectly described the participants in my accelerator and our training.

• Reflected in some of the successful innovation teams observed winning SBIR / STTR awards.

• Became a part of how we taught and coached team formation and development.

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Prototypes

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1. Friday noon – Sunday evening

2. Bring an idea / team or form them in camp

3. 10 hours of modularized instruction on early commercialization fundamentals

4. Coaches: VCs / Angels, marketers, IP attorneys, entrepreneurs

5. Outcomes: Skills, awareness. Also, business model and pitch.

� Ideation

� Teaming

� Pitching

� Business models

� Validation

� Selling

� Financials

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1. Three weekends or multiple weeks

2. Teams, researchers, investors, students

3. 21 hours of modularized instruction on early commercialization fundamentals

4. Coaches: VCs / Angels, marketers, IP attorneys, entrepreneurs

5. Outcomes: Skills, experience, team. B-plan exec summary and investor presentation. Network; sales methods.

� Feasibility

� Market

� IP / Legal / Risk

� Finances

� Management

� Selling

� Launching

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Prototypes

VALIDATED INNOVATION, TEAM AND

MARKET ENTRY PREPARATIONS

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Innovation Success Promotion: Research Interests

1. Most important contributors to innovation team development?

� Tech entrepreneurship education

� Team selection: Complementary T-shapes

� Experience-gathering

� Ex-ante, journaling, post-ante

2. Project selection, support and commercialization approaches?

3. Impact of innovation program settings?� University vs. for-profit vs. economic development accelerators

� Corporate R&D / new product development programs

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SIG Member’s Guidance1. Most important aspects of team education and

development?

2. Settings (corporate / university / private & economic dev)

3. Suggested data-sets

4. Suggest case subjects

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Thank You• NSF for the introduction

• Jim and Haluk for the encouragement

• Lou for the introductory update on T-shapedness and the recordings