1. Entrepreneurship and Innovation Babs Carryer Copyright © Babs Carryer 2011

2. By way of introduction… Entrepreneur Entrepreneurship teacher at CMU for 12 years Embedded entrepreneur, Project Olympus, CMU, SCS Innovation advisor, Institute for Social Innovation, CMU, Heinz Co-founder, past president, director of LaunchCyte LLC President of Carryer Consulting Teach commercializing new technologies at Pitt OED/OTM Past director of deal flow, BlueTree Allied Angels Sailing in the Med

4. Lessons learned Founding a newco… …rewards, success, exit

5. The real lessons learned X

8. Copyright © Babs Carryer 2011

9. Teaching entrepreneurship

11. Basic principles Market need Solution Business model Plan Implementation Harvest

12. Student competitions

13. An initiative of the Carnegie Mellon School of Computer Science, Olympus works with faculty & students across campus and collaboratively within the university innovation eco-system and the wider innovation community Gates

14. Micro-grants, Matching funds Space, Equipment Advice, Education, Assistance, Mentors Networks, Connections, Contacts Visibility provides

15. At the core of Olympus operation are its PROBEs (PRoblem-Oriented Business Explorations) where faculty and students explore the commercial potential of their cutting-edge research and innovations. Incubation

16. Mindkin Fooala M-Tool Tropical Health Semiotic BeatBots Students bring tremendous energy Projects provide unique experiential learning

17. Project Olympus C ONNECTS S tudents Advisor,

18. Signature Show &Tells Showcase Olympus PROBEs budding talent, local start-ups ups, university research and guest perspectives For the regional civic and innovation/investment communities

19. "Next Generation Interactive Payment Cards” Jeff Mullen, Dynamics, Inc.Dynamics, Inc. JD, BS (ECE), MBA (Tepper) Winner, Best Innovations for Personal Electronics

20. Derek LomasDerek Lomas, PhD student, Human Computer Interaction Institute Winner, Grand Prize, Marvel Technology Grand Challenge “PlayPower:Computer-Aided Learning Games for Global Education”

21. Fooala ShipTogether BeatBots Tropical Health System s Ario Inc Dynamics M-Tools Ask Bright Antecea Copyright © Lenore Blum, 2010 copyright Babs Carryer 2011

22. By the Numbers 44 companies formed 1 acquired by Google, 1 received VC funding; 6 received SBIR funds 6 graduated to AlphaLab; 2 Innovation Works portfolio companies; 3 Idea Foundry portfolio companies Over $9.1 million in follow-on funding from university and outside sources awarded to 15 faculty and 15 student PROBEs and companies. Olympus participants have received a Kauffman Innovation Fellowship and 3 Kauffman Commercialization Leadership awards.

23. Thank you! Questions? www.olympus.cs.cmu.edu Babs Carryer, Olympus Embedded Entrepreneur bcarryer@cmu.edu