The University of Utah Richard A. Normann Forum on Innovation and Entrepreneurship in Biomedical Engineering Education

Utah Entrepreneurship Challenge Competition between student teams Open to all Universities across state Prize: –$40,000 for further product development –Legal and professional services (worth about an additional $40,000) –Contacts in business, finance and engineering University of Utah

Entrepreneurial Bioengineering Graduate and undergrad seminar Goal of Seminars: –Paths and pitfalls of entrepreneurs Offered every other year 10 lectures from local entrepreneurs 1 lecture from patent attorney 1 lecture from tech transfer office Success stories and failure stories University of Utah

Undergraduate Major in the School of Business –Four year program –Specialized classes: Management 3700 – Fundamentals of Entrepreneurship Marketing 4700 – Analysis of Emerging Markets Accounting 4110 – Accounting for Emerging Business Management 5770 – Business Plan Development Finance 5300 – New Venture Finance Lassonde New Venture Development Center Entrepreneural Program in the School of Business University of Utah

Lassonde New Venture Development Center Graduate and undergraduate program –This year: 3 graduates, 13 undergrads Two semester classes: 3 credits $4000/year stipend Involves Profs in business, engineering and science, and local professionals. Real world team-based projects from profs at U of U Contacts: –Dr. Troy D’Ambrosio (801) –Dr. Leonard Black (801) University of Utah

Started in 1986 Goal: Help build new high-tech businesses Facilitate the commercialization of University technology Five years of funding ($120K/yr) to University labs to prototype technology 15 centers funded every year (140 new companies started from program) Need solid and patented technology and good business plan and business opportunity Program provides help in developing business plan and commercialization strategy Utah State Centers of Excellence Program University of Utah

How do you measure outcomes? Student experience (exit interviews) New student enrollment in programs Client (faculty/TTO) feedback Student hiring by companies Development of new businesses University of Utah

Describe a course project or exercise that exemplifies “best practices” Bionic Technologies, LLC. Seven years old Started by U. Professor & businessman Developed business plan with MBA’s Became a state center of excellence 20 full-time employees (many from UofU) Exists on SBIR grants and sales ($0.5 m last yr) University of Utah