University Innovation Fellows - User contributions [en]

Fellow:Ben Rathi

2016-10-04T01:43:04Z

Benrathi:

Ben Rathi is a University Innovation Fellow candidate in the Fall 2015 cohort. He is a senior pursuing a dual major in business administration and computer [[File:Ben rathi UIF.jpg|thumb|Ben rathi UIF.jpg]]science at the University of Michigan in Ann Arbor. Through academics and extracurricular engagements, he has developed an intense passion for creating greater efficiency in society. In particular, he believes that improved collection and analysis of data can solve many of the world's most pressing problems in health care, agriculture, and education, to name a few industries. Given his background in business and technology, he hopes to one day lead a successful technology startup in the realm of health care, and until then, work on as many startups and entrepreneurial endeavors as life hands him.

Ben has had a first-hand taste of entrepreneurship as the Founder & CEO of Blueprints For Pangaea, a 501(c)(3) nonprofit organization that has reallocated over 20,000 pounds of medical supplies worth $1M. He has also served as a business consultant for various startups through the Nexecon Consulting Group, including a smart textile company in New Zealand looking to enter the mHealth market in the US, and a Bay Area gene-therapy startup looking to enter the drug delivery market. Ben is also a technologist at heart, and enjoys refining his data analysis and product design skills through various projects on campus.

In his free time, Ben enjoys all kinds of health and fitness activities, including running, yoga, and weight-training. Ben is also an A Capella singer and has performed Hindi songs at many weddings and cultural functions. Ben's favorite experience in college has been meeting interesting and diverse people, and would love to hear from you through [https://www.linkedin.com/pub/benjamin-rathi/61/263/65 LinkedIn]  or [[Benrathi@umich.edu|email]]. Thanks for stopping by!

== Related Links ==

[[University of Michigan at Ann Arbor|University of Michigan, Ann Arbor]]

[[University of Michigan Student Priorities|University of Michigan, Ann Arbor Student Priorities]]

[[Lauren Annes|Lauren Annes]]

[[Tyler Laredo|Tyler Laredo]]

'''Ben Rathi'''

[[Category:Student Contributors|b]]

Priorities:University of Michigan Student Priorities

2015-10-23T03:45:56Z

Benrathi:

= Overview =

The University of Michigan entrepreneurship and innovation ecosystem is filled with opportunities.  The opportunities range all over the entrepreneurship and innovation spectrum and cover all stages of the entrepreneurial process.  The University of Michigan has many things to offer including classes, hackathons, and design teams.  The city of Ann Arbor has much to offer as well, such as: accelerators and tech transfers.   Increase in entrepreneurship and startups are a main goal of the state of Michigan due to its struggle throughout the past years with the recession and the decline of the auto industry.  With our state fighting to make a comeback, the students of the University of Michigan have joined this fight.  We are taking on our role as "Victors" for Michigan and diving into the entrepreneurship and innovation scene.

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= Strategy #1: Starting Young =

== Tactic #1: Taking Engineering 100 to the Next Level  ==

 '''Description: '''For all freshman engineering students, there are two required courses.  One of these courses is a design course called Engineering 100.  In this course, there are several categories/ options that a student could sign up for.  The categories include Design in the Real World, Harnessing the Wind, and Gaming for the Greater Good.  In each of these semester-long courses, students have their first taste of the design process and all it encompasses.  What these courses fail to offer is assistance to the students to take their designs beyond the course.  When the semester ends and a final presentation is given, students have very little support to take their great ideas and work onward.  It is the Leadership Circle's goal to create a bridge to support the continuation of these projects.  Resources varying from funding to legal support will be offered so that the students can continue on. 

== Tactic #2: Student Orientation Entrepreneurship and Innovation Project ==

'''Description: '''All freshman are required to go to Orientation at some point in the summertime, before they start attending the University of Michigan.  At this Orientation, students have long days of being lectured to, touring the campus, and taking placement tests.  To be able to spark their interest immediately and expose them to entrepreneurship, an I & E project will be created for them to complete during their time at Orientation.  An idea for a project that could be shorter, but still allow for solid exposure, would be a 1-2 hour problem-solving and consulting project.  A local company will present a problem they are having and the students will get to work solving that problem.  They will use low-resource prototyping and basic technical skills to solve the problem.  They will then pitch their final solution.  This could be a freshman's first experience with pitching and real-world problem solving.  With this project, students will be exposed to the resources on campus and learn what is available to them throughout their time at U of M.

== Tactic #3: An Increase in Design/Entrepreneurship Classes Offered to Freshman and Sophomores ==

'''Description:''' The University of Michigan has a Program in Entrepreneurship offered to undergraduates and graduates.  To be eligible for this program though, students must be sophomores or above.  Many other design courses are higher-level courses, which are harder for freshman and sophomores to access.  By the time students are exposed to entrepreneurship, they do not have enought time or room in their schedules to explore what branch of entrepreneurship they are interested in. The goal would then be to create more freshman and sophomore-accessible courses that allow for design, business planning, and other key skills to help with I & E projects.

= Strategy #2: A Continuous Flow of I & E, Moving Away from the Event-to-Event Mentality =

== Tactic #1: Web/App Version of an Idea Book  ==

'''Description: '''Many innovators carry around a notebook to jot down notes on ideas and observations of the world.  Many of these ideas never see the light of day due to lack of motivation or confidence by the person with the idea.  The goal is to create a website and mobile app where your ideas can be recorded when they pop into your mind.  It will be easy to use and accessible.  You can decide to share an idea publicly or keep it private.  If it is shared publicly, you can have input from fellow University of Michigan students.  

== Tactic #2: Resource Match-Maker ==

'''Description:  '''There are many students with ideas or projects that are already in progress, but are at a standstill due to lack of skills.  The search for these skills can be challenging and it is hard to find someone to add to your team who is as motivated and interested as you are.  With the Resource Match-Maker, the skills you need will be posted to the Resource Match-Maker website.  People will be able to browse the projects people are working on and the skills they are looking for in order to find a project that matches their need.  It will act as a match-making system, connecting innovators to the technical, artistic, business, etc. skillset they are looking for.

== Tactic #3: For Those Who Didn't Make the Cut...  ==

'''Description: '''There are many events on campus including MHacks, Startup Weekend Ann Arbor, and 1000 Pitches.  With these events, there is an outpouring of fantastic ideas, but in the end only the best move on.  To keep the hype going, the goal is to keep the "losing" teams motivated and help them make their project a reality.  Resources of all kinds will be provided.  

= Strategy #3: Augmenting Resource Accessibility Throughout the University =

== Tactic #1: Makerspace Passports ==

'''Description: '''Makerspaces and machining locations are scattered in several locations across the University of Michigan.  By no means is the university lacking in sheer quantity of makerspaces; however, these resources are not currently available for use by undergraduate students. This is largely due to a lack of training resources which in turn causes safety concerns among administrators when confronted with opening these resources to the undergraduate student body.  We propose to create a passport system where an individual will be trained on a specific piece of equiptment and will the recieve a certification or "passport" to designate that an individual has been trained for that piece of equipment. Then by showing this passport to the supervisor of any machine shop on campus they will be able to use identical pieces of equipment.

== Tactic #2: Cataloging available resources ==

'''Description: '''Currently the University of Michigan entrepreneurial resource availabilility can be difficult to navigate. There is no consolidated list in order to identify the supplies available for innovation and the creation of new ventures among the undergraduate community. We propose to create a catalog of these resources in order to accelarate entrepreneurial activity. This catalog will be widely distributed among the undergraduate community by way of integration into the freshman orientation packet with additional circulation augmented by the University of Michigan Center For Entrepreneurship. This will help prospective and current students catalyze the initiation of their ideas.

== Tactic #3: Online portal for building a connected maker community ==

'''Description:''' While creating a "passport" and cataloging resources are highly beneficial to improving the accessibility of resources, the main goal is actually to engage students, faculty and administrators in the community, share resources and ideas, and work together to produce new ventures and innovations. By creating a roster of individuals trained on equipment available online students will be able to pair with other individuals who come from similar mechanistic backgrounds. More specifically allowing the students who comprise the roster to designate a willingness to help other people with their projects can foster a greater sense of community and cooperation throughout the maker community.

= Strategy #4: Networking Meeting Spaces =

== Tactic #1: Start-up Networking Space ==

'''Description: '''We plan to designate a space and time for students with ideas to meet other students who are interested in building a team for the purpose of accelerating a product or business idea. We also would like to allow students who are interested in joining a team to have that oppurtunity in order to further spur the entrepreneurial mindset throughout campus. Students with existing ideas will make a list of the type of skill sets they need to build on their idea, and allow interested students to fill in the openings. 

== Tactic #2: Online Networking Portal ==

'''Description: '''Build an online database of students that are interested in networking to form project teams. This could be as simple as a google docs spreadsheet listing each student's skill set, type of project/idea, and the types of team members they are looking for. By creating this online resource as opposed to just a start-up networking space, a greater sense of accesibility will be prevalent throughout the community of innovators.

== Tactic #3: Notifications for Possible Match ==

'''Description: '''Time is of the essence in the development of new ventures and business ideas. A notification to students who are looking for other students when a possible match is found can rapidly decrease the waiting time and make the process of innovation much smoother. Additionally, a notification can be used for when teams members are free to work on their idea/venture. By accelerating the team building process, the initial time necessary to create a startup will be dramatically shortened. 



= Strategy #5: Expose Students To Existing Opportunities =

== Tactic #1: Create a web-based portal to organize campus opportunities ==

'''Description: '''We plan to create a simple tool that will sort through all the opportunities on campus. Students should be able to easily filter by certain parameters, such as year, school affiliation, and interests, in order to be connected with resources, meetups, business challenges, and funding.

== Tactic #2: Increase cross-campus collaboration ==

'''Description: '''Many opportunities fail to reach students due to a lack of awareness on the student's part. This is because students are often siloed into their own departments, even though another department on campus might be more relevant for their entrepreneurial goals. We will increase cross-campus collaboration by facilitating meetings between departments and encouraging marketing efforts to advertise other opportunities within each entrepreneurship unit/department on campus.

== Tactic #3: Launch an online course about Michigan entrepreneurship ==

'''Description: '''This course can be optional, one-credit, and can be taken by students in their first year. The course will inform students of the various opportunities available to them, and introduce certain former student entrepreneurs as case studies for a successful college experience. 

= Related Links =
<div>[[Amanda Ejups|Amanda_Ejups]]</div><div>[[Valliappa Chockalingam|Valliappa_Chockalingam]] </div><div>[[Emmet Dettweiler|Emmet_Dettweiler]] </div><div>Marissa Henri</div><div>[[Kevin LaForest|Kevin_LaForest]]</div><div> </div><div>[[University of Michigan at Ann Arbor|University_of_Michigan_at_Ann_Arbor]]</div>
'''University of Michigan, Ann Arbor Student Priorities'''

[[Lauren Annes|Lauren Annes]]

[[Tyler Laredo|Tyler Laredo]]

[[Ben Rathi|Ben Rathi]]

[[Category:Student Priorities|Student_Priorities]]

School:University of Michigan at Ann Arbor

2015-10-23T03:35:48Z

Benrathi:

= Overview—Leadership & Advocacy =

The University of Michigan leadership views entrepreneurship as one of its most important priorities, with active involvement from all levels of leadership, starting with president Mark Schlissel. With over 15 different, self-sustainable entrepreneurship departments on campus, students have access to faculty from many different schools in order to pursue their entrepreneurial goals. 

From 2002-2014 The University of Michigan and its president, Mary Sue Coleman, have played leadership and advocacy roles in promoting innovation and research commercialization at the nation’s universities. The university has prioritized innovation and entrepreneurship’s role in economic development prior to the development of the NACIE commitment letter; for the last several years, major strategic priorities for the University of Michigan include stimulating economic development and growth in Michigan and beyond through innovation and entrepreneurship.

President Coleman’s decision to spearhead the NACIE commitment letter is a natural extension of the innovation and commercialization culture at U-M. Even so, the NACIE Letter has had a “'''conscious raising'''” effect on the innovative culture at U-M. Innovation and commercialization is a key focus of the activities of the president, executive officers, faculty, and staff at U-M. The outcome of this focus is reflected in the expanding array of programs, policies, relationships, and activities aimed at spurring innovation and entrepreneurship on campus, in the region, and across the nation. As part of U-M’s strategy, many aspects of this commitment are highlighted regularly in university outreach and communications, ranging from speeches by senior executives to a central website accessible from the university’s home page.

U-M has also constituted a Communications Team to articulate a comprehensive strategy for these various innovation and commercialization initiatives. The team includes the Vice President for Research, the VP for Communications, the senior government relations officer, and Mr. David Lampe, Executive Director of Research Communications, in the Office of the Vice President for Research. Mr. Lampe is also charged with coordinating all efforts related to innovation and entrepreneurship at U-M. 

The “'''Innovate!'''” website is part of this broader strategy for a unified outlet that captures various innovative programs at the business, engineering, and law schools. Another unique outcome of U-M’s innovation culture is that patents and licensing have become an explicit part of tenure and promotion considerations.

President Coleman’s various engagements also underscore U-M’s strategy of promoting research commercialization through collaborative public- and private-sector relationships. President Coleman currently serves as chair of the '''''Association of American Universities''''', and the '''''Internet2 Board of Trustees'''''. President Obama selected her as one of six university presidents to help launch '''''the Advanced Manufacturing Partnership''''', a national effort bringing together industry, universities and the federal government. And in 2010, President Coleman was named co-chair '''''of the National Advisory Council on Innovation and Entrepreneurship'''''.

U-M faculty and staff are also engaged in university association initiatives, as part of a sustained effort to better communicate the economic impact of universities. This includes Mr. David Lampe co-Chairmanship of APLU’s Strategic Communications and Advancement Working Group.

Other collaborative U-M relationships include the '''''Ann Arbor SPARK''''', a non-profit created to position the Ann Arbor region as a prime destination for innovative businesses. Ann Arbor SPARK also accelerates the development of startups, supports the growth of established businesses, and connects businesses with relevant talent. Another collaborative relationship is with the '''Michigan Economic Development Corporation''' (MEDC), a public-private partnership serving as the state's marketing arm and lead agency for business development and economic growth. Among other services, MEDC provides capital programs for businesses, strategic partnerships, talent enhancement, as well as urban and community development.  

'''''The University Research Corridor''''' (URC) is a partnership between U-M, Michigan State University, and Wayne State University. The Research Corridor leverages the intellectual capital of member schools to spark regional economic development. The URC achieves its mission through entrepreneurship, innovation and technology transfer programs, educating a work force prepared for the knowledge economy, and attracting smart and talented people to the state of Michigan.

The '''''Center for Entrepreneurship''''' (CFE) is interested in connecting driven student with resources, education, and networking.  They want to help students with learning more about entrepreneurship, creating a startup, or funding and advising support.  The CFE offers a Master of Entrepreneurship, Program in Entrepreneurship, and many other entrepreneurship classes.  

In addition to partnerships and advocacy, U-M has also learnt a very informative lesson about requirements for a successful commercialization program; a strong commitment by the university president and leadership is invaluable. Especially as the president’s bully pulpit is a powerful tool that motivates, informs, and excites the community into action. Successfully engaged communities are force multipliers. Successful programs understand this and build on the institution’s character. These programs let a thousand flowers bloom, rather than allow hierarchy to stifle innovation. These programs set priorities, and then hammer away at them repeatedly. These program characteristics position the school as a driver of economic development.

Below is an enumeration of University of Michigan programs and initiatives that support the five buckets in the NACIE sponsored university commitment letter.

= Student Entrepreneurship =

Through its tradition of action-based, interdisciplinary learning, the University of Michigan primes its students to be tomorrow's most innovative business leaders. Michigan graduates are entrepreneurs in the truest sense and have fueled the formation of many industry-leading businesses from technology startups to some of the world’s leading companies including Google, Domino’s Pizza, Sun Microsystems, Stryker Corp., H&R Block, Borders, and Federal Express.

*The U-M College of Engineering and the Ross School of Business has created a joint '''Michigan Master of Entrepreneurship (MsE) degree'''. The MsE program, which will admit its first class in the fall of 2012, will educate students on forming and managing high-growth potential, scalable businesses.
*A '''minor in entrepreneurship''', available to students from across the university, is also under development. 
*The CFE offers the '''Master of Entrepreneurship''', which will help them understand entrepreneurship principles and help them launch their first startup.  

 At present, there is a wide range of non-degree programs across all curricula, including

*The '''Zell Lurie Institute for Entrepreneurial Studies '''(ZLI) at the Ross School of Business, engages undergraduate and graduate students in real world learning. Launched in 1999, the Institute has granted over $2.3 million to student start-ups. In addition to spearheading efforts to spread entrepreneurship across campus by introducing multidisciplinary courses, hosting university-wide business-plan competitions and grant programs, it has spawned entrepreneurship centers at the Law School, Medical School and College of Engineering. Recently, the Institute received a $60M grant to continue supporting entrepreneurial endeavors of students.
*The '''Center for Entrepreneurship''' (CFE), in the College of Engineering, offers entrepreneurship-related undergraduate courses, a nine-credit '''Program in Entrepreneurship '''(PIE) where both undergraduate and graduate students from U-M may earn a certificate of completion, and a 15-credit '''CASE in Entrepreneurship '''(CASEE) where graduate students, as well as working professionals, are taught the fundamental tools necessary for bringing innovative ideas to market. Since its inception 2,830 students have enrolled in CFE sponsored classes.
*'''Zell Entrepreneurship and Law Program''' (ZEAL), at the U-M Law School, prepares law students to advise and/or develop business enterprises and has established a clinic providing much sought-after legal services for student entrepreneurs in university programs.
*'''Medical Innovation Center '''(MIC), in the U-M Medical School, assists faculty, alumni and partners in taking ideas through the early development stage toward commercialization. Established in 2008, the Center offers a fellowship program in biomedical innovation and also operates a Design and Prototype Lab. The first cohort of fellows launched a medical device company before its fellowship year had ended.
*The '''Center for Venture Capital & Private Equity Finance''' (CVP), at the Ross School of Business, offers a specialized focus on entrepreneurial finance and investment through research and program initiatives. Established in 1994, Center initiatives such as the annual Michigan Growth Capital Symposium and Private Equity Conference effectively connect the University’s entrepreneurial network to the broader financial community. These programs are administered through the Zell Lurie Institute.

== Other student-focused activities include the following: ==

*CFE and ZLI jointly manage the U-M '''TechArb Student Accelerator'''. With the aid of an advisory board of community leaders and professional investors and additional funding from the Office of the Vice President for Research, TechArb helps early stage companies founded by U-M students refine and develop their ideas and business plans, and eventually showcase teams to funders.
*'''MPowered Entrepreneurship''' is a student group created and run by students to expose their fellow students to entrepreneurship and support student ventures through coordinated events and network.  MPowered sponsors several high-profile activities to encourage student involvement, notably the '''1,000 Pitches''' campaign, a campus-wide idea competition, the MPowered '''Career Fair''', focused on growth companies, the Ann Arbor '''Startup Weekend''', to connect students with the local startup community, '''Vex''', a space for collaboration and studying for student entrepreneurs, '''Startup High School''', to connect with high school students in Detroit, '''MHacks''', the largest hackathon in the nation and '''Make-a-thon''', a competition that takes talented college students in engineering, business, art & design, pre-med, and music and gives them 36 hours to design and build a functional physical prototype of their own product idea.
*'''Tech Start program '''is an 8-12 week full time summer internship overseen by U-M Tech Transfer for graduate students from many academic areas including Law, Engineering, Medicine, Business and Information Technology, offers participants an intensive experience working on entrepreneurial projects.
*'''Entrepreneurial Multidisciplinary Action Projects '''(EMAP) offered by the Ross School of Business/Zell Lurie Institute for Entrepreneurial Studies immerses student teams in domestic and international entrepreneurial businesses to execute assignments that may include developing business plans, identifying new product opportunities or formulating market entry strategies. EMAP projects are required of all first year business graduate students.
*'''Three student-run Venture Funds—'''the $5.5 million early stage '''Wolverine Venture Fund''', the five-year-old pre-seed '''Frankel Commercialization Fund''', and the first student-run '''Social Venture Fund'''— a new initiative to support emerging businesses''.''
*The '''Marcel Gani Internship program '''places students at start-up and venture capital firms.
*The '''Dare to Dream grant program''' leads students through a six-month thoroughly mentored process that enables them to explore an idea, establish feasibility and launch a venture. Based at the Ross Business School, the program was expanded in 2007 to non-business students under a partnership with the Center for Entrepreneurship in the College of Engineering. Support ranges from $500 to $10,000. In 2010 almost $90,000 in total was awarded.
*'''Michigan Business Challenge''' is a four-phase campus-wide business plan competition that selects four finalists to compete for top prizes with over $60,000 awarded throughout the cycle. The Ross Business School operates and funds the competition which attracted 73 teams in 2010. '''Ambiq Micro''', the 2010 winner, has already attracted significant venture capital.
*'''Course projects '''provided by U-M Tech Transfer for classes such as Finance 629 (Financing Research Commercialization) at the Ross School of Business and the Master’s in Entrepreneurship program, as well as investment analysis and consideration by the Wolverine Venture Fund and the Frankel Commercialization Fund managed by the Zell Lurie Institute for Entrepreneurial Studies.
*'''Entrepreneurial and legal mentoring services''' provided by U-M Tech Transfer to student projects within the Center for Entrepreneurship, the Zell Lurie Institute for Entrepreneurial Studies and other entrepreneurial units across campus.
*'''Tech Transfer Fellows program''' through which graduate students under the supervision of Tech Transfer professionals provide written initial assessments of the commercial aspects of newly reported inventions.
*The '''Entrepreneur and Venture Club '''(EVC) at the Ross School of Business brings together students dedicated to furthering their education and professional goals as prospective entrepreneurs and investors in new ventures.  The EVC provides events, networking opportunities, and educational programs to provide students with the skills and contacts to advance their ambitions.
*'''SI Create''' is a student organization fostering a community of innovation and entrepreneurship at the U-M School of Information. The club sponsors field trips that expose students to innovation and hosts a Business Model Competition.
*The '''China Entrepreneur Network''' (CEN) is aimed at building a global hub for Chinese Entrepreneurs. The U-M is host to both a campus-wide club and a business school student club. CEN also organizes a yearly conference with worldwide participants.
*The '''Society for Business Engineers''', at the College of Engineering, supports students in the Engineering school with an interest in applying to programs in other areas of study as well as obtaining an entrepreneurship certificate
*'''Entrepalooza '''is an annual conference that introduces students to successful entrepreneurs through presentations and a “lunch and learn” where they can meet one-on-one with seasoned entrepreneurs and investors.
*'''TedXUofM''' is a student group that sets up an annual innovation conference with a 2000+ audience and large web-presence.
*'''Tech Fest''' is an annual program launched in 2011 that welcomes entrepreneurs, venture capitalists, angel investors, scientists and business leaders from around the world to campus for demonstrations of labs and student projects, networking and brainstorming.
*'''Student Trips '''to high profile companies allowing them to network with entrepreneurs, venture capitalists and U-M alumni entrepreneurs are organized by the Center for Entrepreneurship to the San Francisco Bay area, New York and Chicago.
*'''Entrepreneurship Hour''' invites distinguished innovators to campus every week to share their stories.  The speaker series is a class taught through the Center for Entrepreneurship and is open to the public. The talks are also recorded and made available online.
*Multiple design team student organizations including:
**Michigan Health Engineered For All Lives (M-HEAL): a multi-disciplinary design team student organization creating medical devices out of low cost materials for health centers in developing nations.  
**BLUElab: an organization that creates sustainable solutions to development problems in the U.S. and in developing nations.  
**Solar Car Team: designing, building, and racing solar cars.
*'''OptiMize''', a student led organization launched the first student-led social innovation challenge, the '''OptiMize Social Innovation Challenge,''' in the country, last year.
*The '''Innovation in Action: Solutions to Public Health Challenges competition''' harnesses the talents of Michigan students to address public health problems.
*As the '''Creators Co-op '''website mentions, the Creators Co-op is a live-in collaborative space for the highest potential entrepreneurs on campus, a playground for busy builders and thinkers with an itch to take action. For students, by students.
*'''RIME (Rural Innovations in Medical Engineering)''' is a student organization at the University of Michigan that is dedicated to bringing quality healthcare to rural areas that otherwise would not have access to it. An entrepreneurially driven approach is the focus at RIME where the plans involve developing a product to bring to a market of people who otherwise would not have access.

=== Some courses and curricular activities focused on Innovation & Entrepreneurship: ===

*'''ENTR 406, High Tech Entrepreneurship''' - Four aspects of starting high-tech companies are discussed: opportunity and strategy, creating new ventures, functional development and growth and financing. Also, student groups work on reviewing business books, case studies, elevator and investor pitches. Different financing models are covered, including angel or VC funding and small business (SBIR) funding.
*'''ENTR 407, Entrepreneurship Hour''' - Invites distinguished innovators to campus every week to share their stories.  The speaker series is a class taught through the Center for Entrepreneurship and is open to the public. The talks are also recorded and made available online.
*'''ENTR 411, Entrepreneurship Practicum - '''The Practicum immerses students in the entrepreneurial process in a supportive classroom environment. Students critically evaluate and then pursue the development of their own ideas for new ventures.
*'''ENGR 390, Intro. to the Design Process - '''This course examines the processes of design, focusing on the front-end of design, including opportunity discovery, problem definition, developing mechanisms to gather data from users and other stakeholders, translating user data into design requirements, creating innovative solutions during concept generation, and evaluating possible solutions.
*'''ARTDES 314, Change by Design - I'''n this project-based class, students will respond to pressing social needs through design thinking processes, including visioning, concept generation, sketching ideas, everyday ethnography, creative experimentation, and extensive prototyping and validation.
*'''EECS/ENGR 410, Patent Fundamentals for Engineers''' - This course covers the fundaments of patents as intellectual property and is geared for undergraduate and graduate students whether in Engineering or any other field.
*'''UARTS 250, Creative Process -  '''This is a class where students are encouraged, in an interdisciplinary way, to explore their own creativity.
*'''ENGR 521, Clean Tech Entrepreneurship '''- This course teaches the students how to screen venture opportunities in various cleantech domains.
*'''PSYCH 467, The Psychology of Innovation: Creating a new enterprise -'''
*'''FIN 325, Enterprenurial Finance - '''This course is open to all BBA students and presents the fundamentals of venture capital and private equity finance.
*'''Course projects '''provided by U-M Tech Transfer for classes such as Finance 629 (Financing Research Commercialization) at the Ross School of Business and the Master’s in Entrepreneurship program, as well as investment analysis and consideration by the Wolverine Venture Fund and the Frankel Commercialization Fund managed by the Zell Lurie Institute for Entrepreneurial Studies.

= Faculty Entrepreneurship =

The University of Michigan has several incentives to encourage faculty to pursue innovative and entrepreneurial ideas and to mentor graduate students to do so. It also helps to nurture the success of companies based on technology developed at U-M. These incentives include:

*The Provost has encouraged '''recognition of innovation and entrepreneurship in faculty tenure and promotion''' cases. He specifically cites working with U-M Tech Transfer to patent or license and invention; launching a start-up company; and encouraging or instructing students in entrepreneurial activities
*'''The U-M Venture Center''' within '''U-M''' '''Tech Transfer '''provides a one-stop hub for faculty entrepreneurs as well as investors looking for start-up opportunities based on U-M research
*The '''Venture Accelerator''' provides state-of-the-art laboratories, equipment, and offices for emerging U-M companies from the pipeline of U-M start-ups, as part of a full suite of services and resources from the '''U-M Venture Center'''
*Under the '''Michigan Investment in New Technology Startups Program''', U-M invests up to $1 million of university funds in start-ups based on U-M technology, after they have secured initial funding from a qualified venture capital firm
*The '''U-M Distinguished University Innovator Award''' recognizes the faculty's important and lasting contributions to the economy by moving new innovations into the private sector for public benefit, and by demonstrating entrepreneurial success.
*The '''U-M''' '''Tech Transfer Ted Doan Award for Outstanding Leadership in Entrepreneurship and Innovation''' is awarded to a deserving individual who has demonstrated a distinguished record of encouraging entrepreneurship and innovation for the state of Michigan
*The '''U-M Tech Transfer annual inventor recognition reception, ''Celebrate Invention'', '''honors faculty who participate in tech transfer activities amidst a celebration with over 300 business, venture, university and community partners
*'''MCubed '''which is a new seed-funding program developed at the University of Michigan to stimulate and support innovative research. The program grew out of the IdeaWorks project in the College of Engineering and is part of the University’s Third Century Initiative. As part of the program, three investigators must place their "token" on a prtoject they are interested in. Once three members (often from different schools) have agreed on a project. There is no peer review before the project is undertaken, and the project is funded with 60,000$.

 

U-M also invests in infrastructure to support innovation and entrepreneurship. The '''North Campus Research Complex''', a two million square foot array of office and laboratory space, was acquired in 2009. Formerly a Pfizer R&D center contiguous with the campus, the complex houses a variety of the university’s innovation and entrepreneurship activities, including:

*Space for interdisciplinary teams of U-M faculty to come together to conduct translational research in such areas as health policy, biointerfaces, cardiovascular research, and translational oncology
*U-M Tech Transfer, the Venture Center, and the Venture Accelerator
*The Business Engagement Center, which develops and manages relationships with industry partners
*Facilities for U-M research partners, including biopharmaceutical spinoff Lycera Corp. and Boropharm, a chemical development and manufacturing business

= Regional sources for funding and capital: =

*'''Victors for Michigan''' - A fundraising campaign undertaken by every unit at all three U-M campuses to focus on some or all of the three priorities:
**Student support
**Engaged learning
**Bold ideas

*'''Michigan Venture Capital Association '''

*'''Wolverine Venture Fund''' - The $7 million dollar Wolverine Venture Fund invests primarily in early stage companies. The Fund is one of the world's first VC funds where students are partners in the investment decision-making process. The Fund's students members seek, screen and negotiate investments and develop significant experience in these areas - and in working with VCs and entrepreneurs. An advisory board of professional venture capitalists and entrepreneurs, and approximately 28 MBA students participate in managing this multi-million dollar fund.

*'''Zell Lurie Commericialization Fund''' - The Zell Lurie Commercialization Fund is a pre-seed investment fund established to identify and accelerate the commercialization of great ideas generated within the University community and the surrounding area. Zell Lurie Fund participants (Zell Lurie Fellows) evaluate and invest in early stage entrepreneurial opportunities to learn about the commercialization process and how to be a seed investor. The Zell Lurie Fund teams, focused on healthcare, technology, consumer, and cleantech, work closely with founders, entrepreneurs and with the University of Michigan's Office of Technology Transfer in the course of their work. The Fund is also supported by an advisory board comprised of individuals who have been successful in developing early-stage companeis, markets and technologies.

*'''UM Social Venture Fund''' - Launched in September of 2009, the Social Venture Fund is the first student-led investment fund of its kind and the first to close a deal among other such funds that have launched. The Fund focuses exclusively on for-profit social enterprises existing independently or within the legal structure of a pre-existing organization (LC3, 501c3, LLC, etc.). It invests $50,000-$250,000 in pre-revenue and post-revenue companies generating a profit and responding to critical challenges within Education, Food Systems, Environment, Health, and Urban Revitalization. It is focused on businesses based in the U.S. and is particularly interested in plans for the Southeast Michigan/Detroit area.

*'''Venture Michigan Fund'''

= University Technology Transfer Functions =

The Office of Technology Transfer (OTT) at U-M oversees the commercialization of new technologies and research discoveries, and provides professional resources for inventors, entrepreneurs and industry partners. It is the university’s conduit between laboratory research and corporate commercialization interests.

'''''U-M Tech Transfer''''' utilizes several resources to connect entrepreneurs and other members of the business and venture communities to opportunities at U-M. These include:

*A highly proficient team of'''Licensing Specialists '''provide inventors and business partners with responsive technology assessment, patenting services, market analysis and contracting services
*'''Tech Transfer Fellows '''employs mentored graduate and post-doc students to assist U-M Tech Transfer licensing specialists in providing comprehensive technology assessments
*'''Catalyst''', a talent resource network that connects entrepreneurs and other parties with U-M’s technology and venture opportunities
*'''The Venture Center''' employs a team of experienced entrepreneurs in its '''''Mentors-in-Residence''''' program to assist in connecting technology and start-up projects to other entrepreneurs, businesses and venture partners.
<ul style="list-style-type: circle;">
<li>The Center also leverages relationships with over 250 premier venture capital firms and angel groups to assist entrepreneurs engaged with U-M opportunities</li>
</ul>

*'''U-M Tech Transfer''' and the '''Office of Research and Sponsored Programs''' lower the barriers to industry investment in university research by offering sponsors the opportunity to negotiate the terms for licensing possible intellectual property during the initial contracting process

 

These and various other initiatives have helped accelerate the launching of several ventures, placing U-M '''''among the top 10 universities''''' in the nation in spin-off activity and technology licensing.

*'''''93 start-up ventures''''' from 2001 to 2010, many of which have had notable market success such as HealthMedia, HandyLab, Arbor Networks and Accuri Cytometers
*Creation of '''814 agreements '''from 2001 to 2010, connecting U-M technology with entrepreneurs in new and existing companies
*With '''101 licensing agreements '''and the spin-off of '''11 startups''' in 2011, U-M consistently ranks in the top 10 U.S. universities in tech transfer performance.

 

Some other University activities assisting U-M Tech Transfer include:

*'''“Gap” funds''' from the proceeds of U-M Tech Transfer central administration revenues, matched by State-funded programs, are used to address key commercialization issues.  These gap funds are deployed in concert with “translational research” investments from the College of Engineering (CoE), the CoE Coulter process, Office of the Vice President for Research funds and a planned Medical School fund.
*'''The Michigan Growth Capital Symposium''' is a venture capital event that connects high potential Midwest start-ups and university spin-outs with leading investors nationwide. Ten year statistics include: 300 companies presented; 200 raised capital totaling more than $1.7 billion; 60 exited successfully.
*'''College of Engineering Technology Development Fund''' offers awards of up to $50,000 to later-stage research activities related to translational research proof of concept

*'''Coulter Foundation Translational Research Fund''' provides translational funding to 4-8 new biomedical engineering projects a year at up to $100,000 per project
*'''The Michigan Institute for Clinical and Health Research (MICHR) Pilot Grant Program''' awards $50,000 to $250,000 for bench to bedside and bedside to practice translational research

 

= University-Industry Collaboration =

The '''Business Engagement Center''' (BEC), affiliated with the Office of the Vice President for Research and the Office of University Development, provides companies with a one-stop gateway to the various research, technology, education, facilities, and talent resources at U-M. The BEC maintains affiliated offices in the College of Engineering, the Medical School, and at the Dearborn and Flint campuses. Founded in 2007, the BEC now maintains relationships with more than 1,000 companies, and is contacted by nearly 200 new companies each year.

The BEC-facilitated relationships can range from individual research projects to broader engagements, depending on the business need. For example, aerospace giant '''Boeing''' maintains a long-standing partnership with U-M focused on building a pipeline for the future. Boeing recruits from seven different U-M programs, provides support for 50 students, regularly sponsors student projects, and conducts research with four different departments.

One of the functions of the BEC is to work with schools and departments to encourage industry sponsorship of research at U-M. Total sponsorship reached $61.6 million in FY 2011.

Some research initiatives are emerging that specifically aim to spur innovation and economic development in partnership with industry and government. The '''Michigan Sustainable Transportation Imperative''' is an emerging initiative that aims to bring U-M’s interdisciplinary strengths together with representatives from the transportation and related industries as well as state and federal government agencies to strengthen the state’s leadership in the next generation of transportation vehicles and systems.

U-M also maintains close relationships with its 450,000 member alumni network and engages a number of U-M alumni in businesses, venture firms and other organizations around the world.  Some examples include:

*'''Larry Page''', co-founder and CEO of search engine giant '''Google''', earned a B.S. degree in engineering with a concentration in computer science from U-M in 1995. '''Google AdWords''' has an office in Ann Arbor;
*'''Eric Lefkosfsky and Brad Keywell''', founders and founding investors in '''Groupon'''. Both earned undergraduate degrees in 1991 and Law School degrees in 1993 from U-M.  Lefkofsky founded a business while still a U-M undergrad;
*'''Thomas Bumol, '''VP Biotechnology and Autoimmunity Research for Eli Lilly in San Diego, CA, earned a B.S. degree in microbiology from U-M in 1975.  Tom sits on the U-M Tech Transfer National Advisory Board;
*'''Bill Joy''', co-founder of '''Sun Microsystems''', earned a bachelor’s degree in computer engineering in 1975. He currently is a partner in the venture firm '''Kleiner Perkins Caufield & Byer’s Green Tech Practice;'''
*'''Tony Fadell''', a key initiator of the '''iPhone and the iPad products at Apple''', started three companies before graduating from U-M with a bachelor’s degree in computer engineering in 1991; and
*'''John Denniston '''is a partner in Kleiner Perkins Caufield & Byers, a leading venture capital firm.  John has a B.A in Economics and a J.D. from U-M and also serves on the U-M Tech Transfer National Advisory Board.

= Regional and Local Economic Development =

U-M and its senior management team provide “thought leadership” on America’s economic development policy. Examples include:

*'''President Mary Sue Coleman''' was appointed a founding co-chair of the '''National Advisory Council on Innovation and Entrepreneurship''', created by the U.S. Department of Commerce in 2010 to support President Obama’s innovation strategy by helping to develop policies that foster entrepreneurship and technology transfer
*'''Vice President for Research Stephen Forrest''' chaired '''Ann Arbor SPARK''', the Ann Arbor region’s economic development organization from 2009 to 2012.
*As an institution, U-M was selected as one of six universities to collaborate in a new national '''Advanced Manufacturing Initiative''' recommended by President Obama’s '''Council of Advisors on Science and Technology'''.

 The '''University Research Corridor''' (URC) is a consortium among U-M, Michigan State University, and Wayne State University. This effort was undertaken to highlight the capabilities and impact of the state's three leading research institutions and drive the transformation of Michigan's economy. Among its activities, the URC produces an annual economic impact report that includes an assessment of the impact of the three universities on a different industry sector each year. Some impact figures:

*The URC economic impact on Michigan increased from $12.9 billion in 2006 to $15.2 billion in 2010.
*URC spends more than $1.8 billion in research, and educates 137,583 students
*More than 573,000 URC alumni live in Michigan, earning $28.6 billion in 2010, which is 16.4 percent of all wage and salary income in the state
*The URC generated $426 million in 2010 state tax revenue even as state support for higher education has declined
*The URC averages 135 patents per year (140 in 2010) and has spun off an average of 14 companies per year since 2006.

 

U-M has also provided leadership on three innovative partnerships with other Michigan universities, funded by the Michigan Economic Development Corporation:

*The '''Michigan Corporate Relations Network (MCRN)''' is a statewide university network designed to create partnerships that will connect Michigan's corporations to critical university assets to help promote innovative research and grow Michigan's economy. Six major public universities in Michigan make up the network.
*The '''Tech Transfer Talent Network''' is a collaborative network among 7 universities led by the University of Michigan to establish regional talent tools, programs and resources to enhance university tech transfer performance.  Modeled after several U-M tools and programs, the Talent Network provides funds for regional and shared resources to enhance the commercialization of university research.
*The '''Michigan Initiative for Innovation and Entrepreneurship (MIIE)''' and the '''Michigan Universities Commercialization Initiative (MUCI)''' are statewide collaborations among public universities to promote regional economic development and entrepreneurship.

 

U-M’s '''Institute for Labor, Employment, and the Economy''' has programs aimed at assessing, understanding and encouraging economic development. They include:

*The '''Center for Business Acceleration and Incubation Studies''', which carries out market feasibility studies for proposed new business incubators in the region to help lay the foundation for success.
*The '''Technology Commercialization and Assistance''' program proactively identifies the capabilities and initiatives of emerging or established companies and matches them with technology available at Michigan universities.
*The '''Accelerate Michigan Innovation Competition''', an international business plan competition initiated in 2010 highlights Michigan as a venue for innovation and opportunity. The competition, one of the largest of its kind, is sponsored by a network of groups in Michigan committed to bolstering innovation and entrepreneurship in the state. U-M co-sponsors the event through the University Research Corridor. Four U-M ventures have won prizes.

= Deep-Dive Questions =

*Is innovation an integral part of U-M’s institutional culture?
*Why is it important? And how does it influence entrepreneurship and tech transfer?
*How do you envision your program in the future?
*What is your vision for each of the case study’s bucket?
*How does your institution leverage (or intend to leverage) geographic endowment?
*Are your innovation, entrepreneurship, and tech transfer programs integrated?
<ul style="margin-left: 40px; list-style-type: circle;">
<li>Why, or why not?</li>
</ul>

*Are there any unique successes (and or challenges) you may wish to highlight?

= Landscape Analysis =

University Innovation Fellow: Grace Hsia, founder of [http://www.warmilu.org/ Warmilu LLC], a venture she formed out of the inaugural Masters in Technology Entrepreneurship Program at the School of Engineering.

{{#Widget:Prezis|id=iqniozkzbplz}}

'''Grace Hsia's Landscape Analysis (Presentation Summary)'''

''Academic Programs''

*Entrepreneurial Studies Program within Business School
*Entrepreneurship and Law Program
*Funding and outreach provided to students in College of Engineering
*Master of Entrepreneurship joint degree between College of Engineering and Business School
*Need to expand opportunities to students in other academic programs

''Student Initiatives''

*Entrepreneurship Associations in many schools
*MPowered
*Entrepreneurship Commission
*MHacks
*Hoping to encourage innovators to stay at Michigan instead of leaving to pursue companies

''School Resources''

*Center for Entrepreneurship within College of Engineering
*Legal advice for developing companies
*Startup Treks to Bay Area, Boston, Chicago, NYC
*TechArb Student Startup Accelerator- great resource, but currently understaffed
*TEDx at UofM

 

= Conclusion =

Across U-M, more than '''1,500 students''' participated in the '''more than 100 courses''' offered at U-M related to entrepreneurship. '''More than 5,000 students''' participated in entrepreneurship activities in 2010-11, in classes, competitions, public events and more. One survey showed more than '''15 percent of incoming freshmen had started a business''' before enrolling. With over 15 different entrepreneurship departments, from Engineering to Public Health, students have access to a wide variety of resources to help them pursue their entrepreneurial endeavors.

In addition to investments in human capital, U-M also continues to invest in infrastructure. The '''North Campus Research Complex''', a two million square foot array of office and laboratory space, was acquired in 2009. The complex, formerly a Pfizer R&D center, houses the Venture Accelerator and serves as a locus for many of the university’s economic development efforts.

Beyond investments in human capital and infrastructure, U-M also continues to align its bureaucratic structure to fully leverage regional endowments. The '''Business Engagement Center''', the '''Medical School Business Development''' team and the College of Engineering’s '''Corporate Relations''' office now collectively serve as the front door to businesses seeking to identify and access U-M resources. Together, these offices manage more than 1,000 active relationships with companies ranging from entrepreneurial start-ups to Fortune 500 enterprises. Separately, the'''U-M Medical School Business Development team '''connects faculty with external collaborators and helps both navigate the most efficient path to accelerate research from “bench.”

Lastly, Mr. David Lampe's comments have been instructive in better understanding U-M’s leadership role in promoting innovation, entrepreneurship, and the commercialization of research in the nation’s universities. As well as the impact of the NACIE commitment letter in framing University of Michigan’s strategic plans and institutional culture.

The Office of Innovation and Entrepreneurship thanks U-M’s assistance with this case study, and looks forward to a continued close and collaborative relationship in building America’s innovation infrastructure.
<div>
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<div id="edn1">
U-M Office of Technology Transfer:
</div><div id="edn2">
Innovate:
</div><div id="edn3">
The Business Engagement Center:
</div><div id="edn4">
Facts:

Source: "The Innovative and Entrepreneurial University: Higher Education, Innovation & Entrepreneurship in Focus", Department of Commerce, October 2013.
</div>
= Related Links =

[[Amanda Ejups|Amanda Ejups]]

[[University of Michigan Student Priorities|University of Michigan Ann Arbor Student Priorities Page]] </div> [[Kevin LaForest|Kevin_LaForest]]

[[Emmet Dettweiler|Emmet_Dettweiler]] [[Valliappa Chockalingam|Valliappa_Chockalingam]]

[[Lauren Annes|Lauren Annes]]

[[Tyler Laredo|Tyler Laredo]]
[[Ben Rathi|Ben Rathi]] </div> 
[[Category:Universities]] [[Category:Deep Dives|Deep_Dives]]

Fellow:Ben Rathi

2015-09-04T03:46:59Z

Benrathi:

Ben Rathi is a University Innovation Fellow candidate in the Fall 2015 cohort. He is a rising junior studying business administration and computer science at the University of Michigan in Ann Arbor. Through academics and extracurricular engagements, he has developed an intense passion for creating greater efficiency in society. In particular, he believes that improved collection and analysis of data can solve many of the world's most pressing problems in health care, agriculture, and education, to name a few industries. Given his background in business and technology, he hopes to one day lead a successful technology startup in the realm of health care, and until then, work on as many startups and entrepreneurial endeavors as life hands him.

Ben has had a first-hand taste of entrepreneurship as the Founder & CEO of Blueprints For Pangaea, a 501(c)(3) nonprofit organization that has reallocated over 20,000 pounds of medical supplies worth $1M. He has also served as a business consultant for various startups through the Nexecon Consulting Group, including a smart textile company in New Zealand looking to enter the mHealth market in the US, and a Bay Area gene-therapy startup looking to enter the drug delivery market. Ben is also a technologist at heart, and enjoys refining his data analysis and product design skills through various projects on campus.

In his free time, Ben enjoys all kinds of health and fitness activities, including running, yoga, and weight-training. Ben is also an A Capella singer and has performed Hindi songs at many weddings and cultural functions. Ben's favorite experience in college has been meeting interesting and diverse people, and would love to hear from you through [https://www.linkedin.com/pub/benjamin-rathi/61/263/65 LinkedIn]  or [[Benrathi@umich.edu|email]]. Thanks for stopping by![[File:Ben rathi UIF.jpg|thumb|Ben rathi UIF.jpg]]

[[Category:Student Contributors]]

Fellow:Ben Rathi

2015-09-04T03:45:21Z

Benrathi: Created page with "Ben Rathi is a University Innovation Fellow candidate in the Fall 2015 cohort. He is a rising junior studying business administration and computer science at ..."

Ben Rathi is a University Innovation Fellow candidate in the Fall 2015 cohort. He is a rising junior studying business administration and computer science at the University of Michigan in Ann Arbor. Through academics and extracurricular engagements, he has developed an intense passion for creating greater efficiency in society. In particular, he believes that improved collection and analysis of data can solve many of the world's most pressing problems in health care, agriculture, and education, to name a few industries. Given his background in business and technology, he hopes to one day lead a successful technology startup in the realm of health care, and until then, work on as many startups and entrepreneurial endeavors as life hands him.

Ben has had a first-hand taste of entrepreneurship as the Founder & CEO of Blueprints For Pangaea, a 501(c)(3) nonprofit organization that has reallocated over 20,000 pounds of medical supplies worth $1M. He has also served as a business consultant for various startups through the Nexecon Consulting Group, including a smart textile company in New Zealand looking to enter the mHealth market in the US, and a Bay Area gene-therapy startup looking to enter the drug delivery market. Ben is also a technologist at heart, and enjoys refining his data analysis and product design skills through various projects on campus.

In his free time, Ben enjoys all kinds of health and fitness activities, including running, yoga, and weight-training. Ben is also an A Capella singer and has performed Hindi songs at many weddings and cultural functions. Ben's favorite experience in college has been meeting interesting and diverse people, and would love to hear from you through [https://www.linkedin.com/pub/benjamin-rathi/61/263/65 LinkedIn]  or [[benrathi@umich.edu|email]]. Thanks for stopping by![[File:Ben rathi UIF.jpg|thumb]]

File:Ben rathi UIF.jpg

2015-09-04T03:41:58Z

Benrathi: