BME Department Biomedical Engineering Department University of Michigan Matt O’Donnell Forum on Innovation and Entrepreneurship in Biomedical Engineering Education

BME Department BME 550: Ethics & Enterprise 1-credit course taught by BME faculty introducing students to entrepreneurship issues Presentations from local venture community Primary purpose is exposure for all students

BME Department IOE 422: Entrepreneurship & Innovation 4-credit course taught by Operations Engineering faculty Student teams develop business plan with an emphasis on e-commerce Final presentations to local venture capital forum More of a “traditional” intro to entrepreneurship and innovation

BME Department ES 515 & 517: New Venture Creation I & Research & Writing the Business Plan Coupled half-term modules presented by the Zell/Lurie Institute for Entrepreneurial Studies in B-School ES 515 – Intro to new venture creation – teams formed between MBA students and others (e.g., BME students) ES 517 – Teams formulate business plan delivered to venture capital forum Top teams get venture funds to launch business

BME Department Effective Entrepreneurship Education Expose all students – you never know who can become an entrepreneur Identify venture firm to work closely with department and B-School (Arboretum Venture – Jan Garfinkle) Internships in venture firms

BME Department How do we measure outcomes? Simplest measure is the number of new businesses launched from BME Dept. Entrepreneurship preparation is part of alumni survey Feedback for local and national venture community (especially from ES 517)

BME Department Example: Dental CT System Team formed among BME graduate students Team takes ES 515/517 and links with MBA group in B-School Team wins venture competition and company is formed Company receives two major SBIR awards in first year to supplement venture funds