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Entrepreneurship and Product Development in Bioengineering at Rice University ‘Unique Feature’ Maria Oden.

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Presentation on theme: "Entrepreneurship and Product Development in Bioengineering at Rice University ‘Unique Feature’ Maria Oden."— Presentation transcript:

1 Entrepreneurship and Product Development in Bioengineering at Rice University ‘Unique Feature’ Maria Oden

2 Description of Capstone Design Program Undergraduate Capstone Design class – “Real-world” client-based design challenges – 30% of team interdisciplinary, MECH, ECE, CAAM – 4-5 member teams Project Sources – Physicians in our medical center, Industry (start- ups), Global health, NASA, Faculty research labs

3 Oshman Engineering Design Kitchen A 12,000 ft 2 space for undergraduate students in all engineering departments at Rice to design, prototype and deploy solutions to real-world engineering challenges. – Interdisciplinary projects – Real-world design challenges Energy, sustainability Oil exploration High Tech Medical Devices Global Health NASA related projects ‘Fun’ Tech Reducing the barriers for success in engineering design

4 Course Module in Business Planning and Entrepreneurship Working with the Rice Alliance for Technology and Entrepreneurship, we developed a compact 4-lecture discussion-based module: 1.Business plans: Why do I need one? 2.Elevator pitches: Why do I need one? 3.Business models and options: How will I make money? 4.Protecting your ideas. The students complete assignments in these areas by using their own design project as their case study. Module can be incorporated into any capstone design class across the school of engineering

5 Topics in Business Planning Module

6 Elevator Pitch Competition Required for students in BIOE ECE and MECH Open to all Rice undergraduates who want to pitch a technology based product 90 second pitch Coaching by professionals, local entrepreneurs or investors 50+ judges (mostly local entrepreneurs or investors) Cash prizes awarded to the top teams 71 teams have participated in this process in the past 3 years

7 Survey: “I learned new material that will be useful in my career ( Business Module and Elevator Pitch Competition )” “It was an intense, defining moment of my Rice experience. Having the opportunity to present to an auditorium of investors and venture capitalists is almost too good to be true. Thank you.”

8 Initial successes Outcome- After 1 st year of Elevator Pitch competition, students organized Rice Undergraduate Technology Venture Forum – Full business plan competition for undergraduates Occurs after final exams in the spring Cash Prizes- funds raised by students 7 teams from previous three years pursuing licensing of technology in order to create a business

9 Shriner’s Hospital for Children Measurement of Intrinsic Hand Strength 1 st Place ASME iSHOW Numerous awards in national business plan competitions > $40,000 in competition awards and grants in 1 st year Licensed Technology from Rice As of 12/10, raised >$250,000 in venture capital

10 Infant Air bCPAP System Bubble CPAP for respiratory support of newborns in respiratory distress in very low resource settings. <$200 to build off the shelf Won Social Ventures category of Rice Business Plan Competition ~ $30,000 in competition awards and grants in 1 st year Preparing for regulatory approval $250,000 USAID grant to perform clinical trials in Africa

11 Barrier to success in entrepreneurship and product development Intellectual property issues with university Students graduating right as projects show promise

12 Team Zikomo: Neonatal Syringe Pump for the Developing World 2nd Place 2011 National iShow – ASME Innovation Showcase Outstanding Student Humanitarian Prize IEEE Presidents' Change the World Competitio n Team Dexter: Capture Motion Path for Cerebral Palsy Patients Grand Prize 2011 ASME Bioengineering Division Rehabilitation Engineering Design Competition Team Dexter: Capture Motion Path for Cerebral Palsy Patients Grand Prize 2011 ASME Bioengineering Division Rehabilitation Engineering Design Competition Team Tru(hB)lood: Paper-based Anemia Diagnosis for Low-resource Settings 2nd Place 2011 NCIIA BMEStart Biomedical Innovation Competition Team Defib Task Force: Second Chance AEDs Pads Best Medical Breakthrough Houston Press “Best of” Awards Team Defib Task Force: Second Chance AEDs Pads Best Medical Breakthrough Houston Press “Best of” Awards

13 PLEASE COME VISIT AT ANY TIME! oedk.rice.edu


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