1. DEVELOPMENT OF AN ENTREPRENEURSHIP MINOR AND OTHER ENTREPRENEURSHIP EDUCATION FOR ALL ENGINEERS Tom Mason Rose-Hulman Institute of Technology REE USA Stanford University

2. DEFINITION OF ENTREPRENEURSHIP  Combination or recombination of resources in innovative and valuable ways. –Invention is only the beginning of innovation –Emerson was wrong – The world will not beat a path to the inventor’s door –Entrepreneurship need not be a new business

3. IMPORTANCE OF ENTREPRENEURSHIP  Jobs and prosperity  Global competition  THE DAYS OF DILBERT ARE DONE!!!!!!  Entrepreneurial skills are complements to technical skills  New enterprises seldom fail due to technical failure  Best technology does not always win

4. EDUCATION AND BUSINESS DIFFERENCES  Pursuing truth is not the same as pursuing profits  Academic time is different from business time  Business allocates resources for value, not “fairness”  Business values ambitious failures much less

5. ENTREPRENEURSHIP AT ROSE-HULMAN  A course since the mid-80’s  Entrepreneur-in-residence program  Project-based education  Rose-Hulman Ventures  Engenius Solutions  Recent developments –Multidisciplinary entrepreneurial design courses –Minors for B.S. And M.S. Students  Still in approval process –Master In Technology Entrepreneurship

6. SPECTRUM OF OPPORTUNITIES RHIT Education Business RHV Success Fund CTRI Engenius Solutions RHV

7. ROSE-HULMAN VENTURES: THE MISSION  Foster creation and growth of innovation-based businesses by providing access to: –Infrastructure –Technical Support –Business Support –Capital  Thereby providing : –Faculty/student educational experiences –Economic growth for Terre Haute and Indiana

8. EDUCATIONAL BENEFITS  Over 300 student & faculty experiences  Faculty – – Intellectual stretch & great experiences  Students –Excitement of “real” engineering –Learned things not evident in courses & labs Requirements shift Business realities such as deadlines & cash –Aids the job search – even in big companies!!

9. MULTIDISCIPLINARY ENTREPRENEURIAL DESIGN COURSES  A dozen engineering & science faculty members involved  Modules on project management, creativity, business plans, etc.  Innovative projects for students  NCIIA grant received for course development

10. UNDERGRADUATE ENTREPRENEURSHIP MINOR  VA453 The Entrepreneur  VA498 Technology Management & Forecasting or EMGT423* Intro. To Marketing for Technical Products (not yet available)  EMGT427 Project Management  SL350 Managerial Accounting  VA454 Financial Economics  Participation in an approved entrepreneurial senior design experience

11. GRADUATE ENTREPRENEURSHIP MINOR  MG 532 Technical Entrepreneurship  Mg5xx Marketing New Technology Or MG526 Tech. Mgt. & Forecasting  MG520 Accounting For Technical Managers Or MGXX Entrepreneurial Finance  MG527 Project Management  MG5XX Implementing Innovation Or Other MSTE Course Approved By MSEM Director  A Thesis Experience Which Includes An Entrepreneurial Or Commercialization Dimension.

12. MASTER OF TECHNOLOGY ENTREPRENEURSHIP  Builds on the successful MS in Engineering Management Program  Focused courses to acquire needed business skills  Blends academic work with early stage work on innovations

13. MASTER OF TECHNOLOGY ENTREPRENEURSHIP Under consideration!  MG 532 Technical Entrepreneurship 4  MG 526 Technology Management & Forecasting 4  MG 520 Accounting for Technical Managers 4  MG 522 Organizational Management 4  MG 527 Project Management 4  MG 5XX Marketing New Technology* 4  MG 5XX Implementation of Innovations* 4  MG 5XX Entrepreneurial Finance * 4  Electives (Courses, especially technical ) 8  GS 515 Selling Technology 1  GS 5XX Fundamentals of Intellectual Property 1  GS 5XX A Global Perspective on Technical Entrepreneurship* 1  MG 5XX Business Plan Development Project* 8  * - COURSES TO BE DEVELOPED

14. CHALLENGES & RESPONSES  Rigid Curricula Emphasize outcomes desired for the majors Students overload if they see value  Worry about technical rigor Involve respected technical professors

15. CHALLENGES & RESPONSES  Worry about loss of elective enrollments Involve technical faculty in entrepreneurship courses  Breadth without depth - “Now they know about marketing and finance”. No – but they know they need to learn more.