University Innovation Fellows - User contributions [en]

School:University of Louisville

2017-02-18T02:04:42Z

Hcpfei01:

''''''[[File:UniversityofLouisville.jpg]]'''Campus Overview''''''University of Louisville'''
 Promoting student innovation and entrepreneurship

The University of Louisville offers formal programs that channel students’ entrepreneurial skills, including an entrepreneurship minor, entrepreneurship MBA, and entrepreneurship Ph.D.  There are a few classes offered that are open to multiple disciplines built around entrepreneurship, as well as a number of departments having a specific entrepreneurship class to their major.  New partnerships are being created by the entrepreneurship department with other departments to provide additional collaborative programs in the future, benefiting both disciplines.  There are currently a few extra-curricular outlets and activities for students to take part in around entrepreneurship, such as events at FirstBuild (Hackathons, Design Thinking Workshop), Maker Faire, TEDx, however, they are not advertised well and tend to only reach a portion of engineering students. The amount of innovation and entrepreneurship in the community is amazing, but the students at the University aren’t as involved/targeted to any extent.

<ul style="margin-top:0pt;margin-bottom:0pt;">
<li>Encouraging faculty innovation and entrepreneurship</li>
</ul>

The faculty of the entrepreneurship department is involved through engagement with businesses and organizations to promote entrepreneurship on campus. The Cardinal Venture Club (CVC) seeks to help facilitate the entrepreneurial spirit here in Louisville by connecting Venture Capitalists, Entrepreneurs, Government and the University of Louisville Faculty has a large focus on research, which in turn allows more involvement for students to engage in real-life experiences. Faculty, especially those at the cancer center and renewable energy center, they are allowed to do many things outside of the university. There are many professors who start companies with things that were created by the university. The amount of faculty innovation is amazing.
<ul style="margin-top:0pt;margin-bottom:0pt;">
<li>Actively supporting the university technology transfer function</li>
</ul>

There are many policies that allow IP expansion by the university. The tech transfer office allows students to work outside the office in a collaborative way. There are currently applications to gain 200k in resources for a human-health research center. The tech transfer office mostly focuses on the available technologies in the medical field with tons of funding for both faculty and staff. Nevertheless, there aren’t many options other than the medical field, especially the human sciences. The tech transfer office uses “ExCite” as a way of funding entrepreneurship and it is slowly expanding to the non-medical field.

*

The Entrepreneurship and Innovation Club

''The entrepreneurship and innovation club was started by 2016 fellow in order to help foster change makers on campus. This club holds a series of workshops on varies topics. Every week they host a design thinking workshop, where students take a problem and create a solution that the club will eventually enact. There are also elevator pitch workshops where students learn from faculty in the area about different pitching techniques. The club also hosts different competitions that allow students to hone in on their skills that they have learned in the workshops.Overall this club really helps students gain valuable skills and allows them to interact with entrepreneurs in the community. ''

'''Facilitating University-Industry Collaboration'''

There is a strong co-op placement program in the Speed School of Engineering that provides students with opportunities to become exposed to and build relationships with companies on the cutting edge of innovation and product development.  General Electric is one such company that also has FirstBuild, a micro factory - an online and physical community dedicated to designing, engineering, building, and selling the next generation of major home appliances that welcomes all community members, industry experts, and students.  The amount of research park in Louisville are few and far between, however, there are a lot of different maker spaces. LVL 1 is an independently run maker spaces that focus on personal projects of the community. It is just like FirstBuild, but without the connections and large corporation backing.

<ul style="margin-top:0pt;margin-bottom:0pt;">
<li>Engaging with regional and local economic development efforts</li>
</ul>

One of the things great about the community of Louisville is the amount of interests by the community. The community has a strong fundamental backing in the arts and humanities. The community was built as an industrial town, but never really expanded in that field and has slowly built a great cultural in the arts and humanities. The community is slowly trying to expand their ideas into the sciences with maker spaces such as LVL 1, FirstBuild(1B), and eventually water step. The community great uses and to some extents abuses these avenues. Nevertheless, you would assume the University would help, but sadly this isn’t the case. The university doesn’t seem to focus too much on the community, which is a place where it would seem to be a natural connection. The events at the maker spaces are rarely attended by any students to any great extent.

Landscape Canvas 2017: [https://docs.google.com/spreadsheets/d/1JdGv5hNod9VYfMiwGa2zY95VDL3mKCIkVQYe3Qr5Rck/edit#gid=2053327921 https://docs.google.com/spreadsheets/d/1JdGv5hNod9VYfMiwGa2zY95VDL3mKCIkVQYe3Qr5Rck/edit#gid=2053327921]

Link to Landscape Canvas 2016 :'''[http://tinyurl.com/nn78p3g http://tinyurl.com/nn78p3g]'''
<div> </div>
[[Category:Universities]]

School:University of Louisville

2017-02-17T22:51:16Z

Hcpfei01:

'''Campus Overview''''''University of Louisville'''
 Promoting student innovation and entrepreneurship

The University of Louisville offers formal programs that channel students’ entrepreneurial skills, including an entrepreneurship minor, entrepreneurship MBA, and entrepreneurship Ph.D.  There are a few classes offered that are open to multiple disciplines built around entrepreneurship, as well as a number of departments having a specific entrepreneurship class to their major.  New partnerships are being created by the entrepreneurship department with other departments to provide additional collaborative programs in the future, benefiting both disciplines.  There are currently a few extra-curricular outlets and activities for students to take part in around entrepreneurship, such as events at FirstBuild (Hackathons, Design Thinking Workshop), Maker Faire, TEDx, however, they are not advertised well and tend to only reach a portion of engineering students. The amount of innovation and entrepreneurship in the community is amazing, but the students at the University aren’t as involved/targeted to any extent.

 
<ul style="margin-top:0pt;margin-bottom:0pt;">
<li>
Encouraging faculty innovation and entrepreneurship
</li>
</ul>

The faculty of the entrepreneurship department is involved through engagement with businesses and organizations to promote entrepreneurship on campus. The Cardinal Venture Club (CVC) seeks to help facilitate the entrepreneurial spirit here in Louisville by connecting Venture Capitalists, Entrepreneurs, Government and the University of Louisville Faculty has a large focus on research, which in turn allows more involvement for students to engage in real-life experiences. Faculty, especially those at the cancer center and renewable energy center, they are allowed to do many things outside of the university. There are many professors who start companies with things that were created by the university. The amount of faculty innovation is amazing.
<ul style="margin-top:0pt;margin-bottom:0pt;">
<li>
Actively supporting the university technology transfer function
</li>
</ul>

There are many policies that allow IP expansion by the university. The tech transfer office allows students to work outside the office in a collaborative way. There are currently applications to gain 200k in resources for a human-health research center. The tech transfer office mostly focuses on the available technologies in the medical field with tons of funding for both faculty and staff. Nevertheless, there aren’t many options other than the medical field, especially the human sciences. The tech transfer office uses “ExCite” as a way of funding entrepreneurship and it is slowly expanding to the non-medical field.

*
The Entrepreneurship and Innovation Club

''The entrepreneurship and innovation club was started by 2016 fellow in order to help foster change makers on campus. This club holds a series of workshops on varies topics. Every week they host a design thinking workshop, where students take a problem and create a solution that the club will eventually enact. There are also elevator pitch workshops where students learn from faculty in the area about different pitching techniques. The club also hosts different competitions that allow students to hone in on their skills that they have learned in the workshops.Overall this club really helps students gain valuable skills and allows them to interact with entrepreneurs in the community. ''

'''Facilitating University-Industry Collaboration'''

There is a strong co-op placement program in the Speed School of Engineering that provides students with opportunities to become exposed to and build relationships with companies on the cutting edge of innovation and product development.  General Electric is one such company that also has FirstBuild, a micro factory - an online and physical community dedicated to designing, engineering, building, and selling the next generation of major home appliances that welcomes all community members, industry experts, and students.  The amount of research park in Louisville are few and far between, however, there are a lot of different maker spaces. LVL 1 is an independently run maker spaces that focus on personal projects of the community. It is just like FirstBuild, but without the connections and large corporation backing.

 
<ul style="margin-top:0pt;margin-bottom:0pt;">
<li>
Engaging with regional and local economic development efforts
</li>
</ul>

One of the things great about the community of Louisville is the amount of interests by the community. The community has a strong fundamental backing in the arts and humanities. The community was built as an industrial town, but never really expanded in that field and has slowly built a great cultural in the arts and humanities. The community is slowly trying to expand their ideas into the sciences with maker spaces such as LVL 1, FirstBuild(1B), and eventually water step. The community great uses and to some extents abuses these avenues. Nevertheless, you would assume the University would help, but sadly this isn’t the case. The university doesn’t seem to focus too much on the community, which is a place where it would seem to be a natural connection. The events at the maker spaces are rarely attended by any students to any great extent.

 

Link to Landscape Canvas:'''[http://tinyurl.com/nn78p3g http://tinyurl.com/nn78p3g]'''
<div> </div>
[[Category:Universities]]

School:University of Louisville

2017-02-17T22:48:03Z

Hcpfei01:

http://universityinnovation.org/images/9/94/UniversityofLouisville.jpg
Campus OverviewUniversity of Louisville
 Promoting student innovation and entrepreneurship

The University of Louisville offers formal programs that channel students’ entrepreneurial skills, including an entrepreneurship minor, entrepreneurship MBA, and entrepreneurship Ph.D.  There are a few classes offered that are open to multiple disciplines built around entrepreneurship, as well as a number of departments having a specific entrepreneurship class to their major.  New partnerships are being created by the entrepreneurship department with other departments to provide additional collaborative programs in the future, benefiting both disciplines.  There are currently a few extra-curricular outlets and activities for students to take part in around entrepreneurship, such as events at FirstBuild (Hackathons, Design Thinking Workshop), Maker Faire, TEDx, however, they are not advertised well and tend to only reach a portion of engineering students. The amount of innovation and entrepreneurship in the community is amazing, but the students at the University aren’t as involved/targeted to any extent.

<ul style="margin-top:0pt;margin-bottom:0pt;">
<li>Encouraging faculty innovation and entrepreneurship</li>
</ul>

The faculty of the entrepreneurship department is involved through engagement with businesses and organizations to promote entrepreneurship on campus. The Cardinal Venture Club (CVC) seeks to help facilitate the entrepreneurial spirit here in Louisville by connecting Venture Capitalists, Entrepreneurs, Government and the University of Louisville Faculty has a large focus on research, which in turn allows more involvement for students to engage in real-life experiences. Faculty, especially those at the cancer center and renewable energy center, they are allowed to do many things outside of the university. There are many professors who start companies with things that were created by the university. The amount of faculty innovation is amazing.
<ul style="margin-top:0pt;margin-bottom:0pt;">
<li>Actively supporting the university technology transfer function</li>
</ul>

There are many policies that allow IP expansion by the university. The tech transfer office allows students to work outside the office in a collaborative way. There are currently applications to gain 200k in resources for a human-health research center. The tech transfer office mostly focuses on the available technologies in the medical field with tons of funding for both faculty and staff. Nevertheless, there aren’t many options other than the medical field, especially the human sciences. The tech transfer office uses “ExCite” as a way of funding entrepreneurship and it is slowly expanding to the non-medical field.

*The Entrepreneurshipand Innovation Club

''The entrepreneurship and innovation club was started by 2016 fellow in order to help foster change makers on campus. This club holds a series of workshops on varies topics. Every week they host a design thinking workshop, where students take''''a problem''''and create a solution that the club will eventually''''enact''''. There are also elevator pitch workshops where students learn from faculty in the area about different pitching techniques. The club also''''hosts''''different competitions that allow students to hone in on their skills that they have learned in the workshops.''''Overall''''this club really helps students gain valuable skills and allows them to interact with entrepreneurs in the community. ''

'''Facilitating University-Industry Collaboration'''

There is a strong co-op placement program in the Speed School of Engineering that provides students with opportunities to become exposed to and build relationships with companies on the cutting edge of innovation and product development.  General Electric is one such company that also has FirstBuild, a micro factory - an online and physical community dedicated to designing, engineering, building, and selling the next generation of major home appliances that welcomes all community members, industry experts, and students.  The amount of research park in Louisville are few and far between, however, there are a lot of different maker spaces. LVL 1 is an independently run maker spaces that focus on personal projects of the community. It is just like FirstBuild, but without the connections and large corporation backing.

<ul style="margin-top:0pt;margin-bottom:0pt;">
<li>Engaging with regional and local economic development efforts</li>
</ul>

One of the things great about the community of Louisville is the amount of interests by the community. The community has a strong fundamental backing in the arts and humanities. The community was build as an industrial town, but never really expanded in that field and has slowly built a great cultural in the arts and humanities. The community is slowly trying to expand their ideas into the sciences with maker spaces such as LVL 1, FirstBuild(1B), and eventually water step. The community great uses and to some extents abuses these avenues. Nevertheless, you would assume the University would help, but sadly this isn’t the case. The university doesn’t seem to focus too much on the community, which is a place where it would seem to be a natural connection. The events at the maker spaces are rarely attended by any students to any great extent.

Link to Landscape Canvas:'''[http://tinyurl.com/nn78p3g http://tinyurl.com/nn78p3g]'''
<div> </div>
[[Category:Universities]]

Priorities:University of Louisville Student Priorities

2017-02-09T02:56:39Z

Hcpfei01:

= 2017 Fellows Project Pitch  =

= [https://www.youtube.com/watch?v=5YOCAtcGu6M https://www.youtube.com/watch?v=5YOCAtcGu6M] =

= Project Prezi Spring 2017 =

[https://prezi.com/1nh9jzyu5rqb/prototyping-our-uif-project/?utm_campaign=share&utm_medium=copy https://prezi.com/1nh9jzyu5rqb/prototyping-our-uif-project/?utm_campaign=share&utm_medium=copy]

'''Overview:'''

University of Louisville is a public institution located in Louisville, Kentucky. University of Louisville is a university known for its medical research, dentist school, and engineering (Speed School). The university has focused more recently on expanding its engineering school into one of the premier engineering schools in the country. The students have many things to enjoy besides academics including the diverse community with thousands of unique restaurants, and more recently huge strides in maker spaces.

The University of Louisville has a more recently expanded entrepreneurship program. The program focusing on the business aspect with not much interaction with the other departments. This mirrors that of the other departments who are extremely independent in their actions of their programs. The amount of required classes that allows different departments to interact is to zero. This is a major concern for a lot of the resources, makerspaces, industrial parks, etc, that thrive when there are a lot of interactions between different types of people.

'''Strategy #1: Increase student awareness of Entrepreneurship and Innovation resources.'''

In order to increase student arareness, we plan on hosting an event called "Orientation to Innovation". During this event, students will be given the opportunity to explore the different innovation centers on campus, such as labs and makerspaces. This event would alow students to see the resources available to them. Hopefully, this will increase use of these resources on campus allowing students to think more creatively.

'''Strategy #2: Create union between similar Entrepreneurship and Innovation groups.'''

We plan on starting a chapter of Phi Beta Lambda. This organization will hold a variey of business competitions for students in all pre-existing clubs. By doing this, unity among the groups will be achieved allowing for greater collaboration.

'''Strategy #3: Create more campus-wide events that can be accessible by students of any major.'''

Collab-a-Thon will be an event that requires students to form teams from different students in different disciplines and work together to build an idea. The teams will have a weekend to complete this idea and present their ideas to judges. This will require students to interact and meet others from all over campus. By fostering these interactions, ideas will be generated.

'''Strategy #4: Create engaging events and better opportunities to bring in more students.'''

Louisville Locals is a weekly event where students can meet entrepreneurs from around Louisville to ask for advice and network. This event will bring in students from all different disciplines. By doing this, students will have increased creativity and inspiration from entrepreneurs in the area.

= Project Pitch Video Spring 2016 =

{{#Widget:Youtube|id=cBjH_48ztM8}}

Strategy #1: Expand students to different brands of innovation.

Tactic #1: Create an entrepreneurship club to bring the departments together.

           

The divide between the departments is getting to a point where innovation and entrepreneurship can’t expand anymore. It is horrible that many students don’t know that startup weekends, hackathons, and design-thinking workshops occur less than 100 feet from the campus. The potential for great innovation is so close and can be used by any student, but no students know about it. This is where the club comes in to bring different people from each department together to attempt to share experiences and the potential for entrepreneurship. The club would have a focus of not only going to the nearest maker-space, but go to each of the main three maker-spaces which focus on different things entirely. There are a lot more mechanical engineers at one maker-space, more computer scientist at another, and more variety of majors at another. If we could give different departments a glimpse of the “other side”, then we would have a great barrier broken. The goal for this club would be to start going to varying hackathons starting in the beginning of the year.

           

Tactic #2:Focus on the STEM engineering Garage.

           

At the university of Louisville the focus for the money and sponsorships is the STEM majors. This lead to the university building an engineering garage for all of the competition teams(SAE teams, Robotics teams, and Rocketry teams). The engineering garage only supports STEM classes as well, and many other majors look confused whenever the term engineering garage is used. Moreover, if there was a location in the building used for business classes this would allow for a major divide to be dropped because most people who are involved in the engineering garage practically live there and if other majors were there, a connection would automatically be drawn. Moreover, a plan to get at least one business class to teach should be the next school year(fall 2016).

           

Tactic #3:Bring departments into a different maker spaces.

If you aren’t a STEM major, you are likely to have never even heard the term “maker space”.  The first time experience of seeing a makerspace in action is truly breathtaking especially for someone who hasn’t experienced the wonders of making. To be able to create a bridge between the parts of the university (STEM and nonSTEM) there needs to be a common ground. Everyone there is a local hackathon in the beginning of the year and usually one small start-up. The goal is to bring at least one person from each department to either of these by the middle of 2016.

           

Tactic #4:Create a design class around bringing departments together.

Currently, as previously stated, there is not a multi department class past your freshmen year. This really needs to be stopped and one of the easiest way to do this is to make it a part of the “flight-plan”, or list of courses you are required to take to graduate. A class focused on bringing people together, giving people a familiarity with engineering, business, and arts, and communication would be an invaluable class. The simple idea of the class would be to go to at least one of the three main makerspaces(First Build, Level1, and Water-step) for a startup weekend, hackathon, or a workshop based around an aspect of a department. The class would have a goal of being an optional class by Fall 2017.

           

[[Category:Student Priorities|u]]

Resource:How to select a business incubator for your consumer product

2017-01-06T03:44:30Z

Hcpfei01:

== Introduction ==
<div>When selecting a startup incubator to attend or create, the most important thing is considering what are the most desirable outcomes from the incubator. For those pursuing a biomedical company, for example, lab space may be the most important thing - while for those creating a social media app, large quantities of people and eyes to test out the prototype and give feedback might be more important.</div>

== Need and Goal ==
<div>
a) When selecting a startup incubator to attend or create, the most important thing is considering what are the most desirable outcomes from the incubator. For those pursuing a biomedical company, for example, lab space may be the most important thing - while for those creating a social media app, large quantities of people and eyes to test out the prototype and give feedback might be more important.
</div><div>b) The goal is to not only discover an incubator that mimics and supports what you want your company to be, but to also choose an incubator based on the network that it presents. If you are looking to build a large network, it might be useful to look for incubators in larger cities with larger networks surrounding it. Location itself is not something you should rank high in the list of things you need to consider when choosing an incubator, but it definitely does come into play when considering the network you want to build for your company.</div>
== Potential Unexpected ==
<div>Either way, any incubator will bring valuable experience, as unexpected relationships will form, and unplanned goals will be met out of serendipity, as long as you are open to them. The most efficient way to use your time is to pick an incubator which will have the most opportunities for the types of relationships/resources you are chasing.</div><div> </div>
== Network (Who You Want to be Connected With) ==

a) Reach out as early as possible to individuals you respect and aspire to be like.  The earlier you reach out the more time these relationships have to grow and develop.  Mentorships can often form, giving you support and guidance when brainstorming, planning, and launching your start-ups.  These connections can also be extremely useful when trying to secure a business incubator.  Connecting with a business incubator or accelerator through a mutually known individual can create a friendlier initial interaction and increase your chances of being selected. Either way, never be afraid to ask someone to coffee, ask for help, or to update someone on your process.

b) The University Innovation Fellows network is one of the greatest tools available to us.  Once we are accepted into the program we will connect and form relationships with some of the most engaged and creative young minds around the country.  When Elliot traveled to Cork, Ireland with Indiebio to quick start Spira he took two other fellows with him as team members.  Allow UIF to open your horizons to different individuals and ways of thinking, and truly use the community to its full potential.

== Team Members (What Sorts of People You are Looking For) ==

'''a) Based on Skills/Weaknesses'''

''' '''Within a business, it is important to have individuals with varying and diverse skill sets. What is one person’s weakness is most likely another’s strength.  Elliot himself stated that he is more of the creative mind but lacks in organizational and communicative skills. He has planned for a diverse team, and found a cofounder at Spira, to fill in these gaps.  The company benefits from everyone’s talents.  Additionally, if the individual has well-developed technical skills, and is an expert in some field, it is much easier to teach them how to sell then to teach someone who knows how to sell the desired technical skills.

'''b) Based on Your Needs as a Company'''

If your company already has a creative leader (like Elliot) but not people who can implement those creative ideas into physical designs, or someone who can organize, you need to find those people as well. This goes hand-in-hand with strengths and weaknesses, but you do need to find others that can not only complete your personality in the workfield, but also get the tasks done based on their skill set. 

'''c) Based on Fits (How to Vet People)'''

Do a small task with them whether it be a little engineering project, a small part of something to do with the startup, or just going and playing video games together to see how they work with you, and to predict what future interactions will be like. The most common reason why startups fail is because of issues with the people working for them.  Therefore choose your teammates wisely and make sure they have similar goals in mind.

--This can become tricky when money and financial aspects come into play. It is essential to have team members sign an agreement, and all be on the same page, before the business or product takes off.

== Risk and Reward (cost, equity, money, time vs payoff, networks, funding, prototyping material, experience) ==

a) Technically, it will not cost you money to reach out to businesses in hopes they could be your incubator. However, in order for them to be swayed to accept, sometimes there is money involved. “Give before you receive” is a phrase Elliot stood by, and it basically means to find what that business wants or needs, and make an offer to help them get these things in hopes that this gesture will make them want to give to you in return. This could be as simple as designing something for them with your own resources, or as extensive as flying them out to run a 5K in your state (yes, Elliot did offer to do that). However, this money will be nothing compared to the experience you gain, and hopefully the profit you make from starting up your company.
<div>b) Timewise, this might take a while. It could take weeks to months before convincing a company that your product is worth the investment. Elliot aimed for 3 main incubators and accelerators when working on his company Spira. Once securing an incubator the process of invention and testing begins almost immediately. Once you are in an accelerator program, all day everyday is spent on the product. There is a lot of time put into this, but it is worth it once you find the right incubator for your business.</div><div> </div>

== Support (students, faculty, staff needed to facilitate prior to and during the event) ==

Support is so important when developing a new business or idea. Something that Elliot struggled with was the lack of support from the faculty at his university. He had to combat this with support from his friends and his motivation to get things done. In one situation he was trying to make a product with a fellow student and it didn’t work out because the support between the student and Elliot was not there. Overall, to have a successful event you need the support of students, faculty, and staff. 

== Lessons learned and tips for others (what worked and what didn’t, and your recommendations for others) ==

a) The innovators and entrepreneurs who are making changes in the world are constantly asking questions.  They identify problems or areas that need improvement, ask themselves why they are the way that they are, and brainstorm a way to improve.  Therefore, a key piece of advice is to be curious. Look at the world around you as it truly is and ask questions.  Don’t settle for the status quo - instead challenge it to be better.

b) Failure is not a setback but should, instead, be seen as an opportunity.  From failure you find out what works and what areas need improvement. You learn about yourself and your company and are able to grow from these problems.

c) Never view rejection as a negative. If you believe in your product and company, and believe that it is the right thing to do, then continue with as much, if not more, momentum than before. Rejection is inevitable.  However, rejection should also teach you that when given an opportunity you cannot waste it.  Use that opportunity to its maximum and execute.  Prove to the people that saw potential that they were not wrong to have faith in your product.  Illustrate that the team is passionate and has the work ethic to succeed.

== Student Contributors ==

[http://universityinnovation.org/wiki/Meghan_Reynolds http://universityinnovation.org/wiki/Meghan_Reynolds]

[http://universityinnovation.org/wiki/Haley_Pfeiffer http://universityinnovation.org/wiki/Haley_Pfeiffer]

== Recording of Interview ==

https://bluejeans.com/playback/s/h2JYEqAItnyLWDQp3yZUbHPi5eEerrLUrwaL6UIToaxQLpVVJ6rqxVfsBEycnJIE

Resource:How to select a business incubator for your consumer product

2017-01-06T03:44:02Z

Hcpfei01:

== Introduction ==
<div>When selecting a startup incubator to attend or create, the most important thing is considering what are the most desirable outcomes from the incubator. For those pursuing a biomedical company, for example, lab space may be the most important thing - while for those creating a social media app, large quantities of people and eyes to test out the prototype and give feedback might be more important.</div>

== Need and Goal ==
<div>
a) When selecting a startup incubator to attend or create, the most important thing is considering what are the most desirable outcomes from the incubator. For those pursuing a biomedical company, for example, lab space may be the most important thing - while for those creating a social media app, large quantities of people and eyes to test out the prototype and give feedback might be more important.
</div><div>b) The goal is to not only discover an incubator that mimics and supports what you want your company to be, but to also choose an incubator based on the network that it presents. If you are looking to build a large network, it might be useful to look for incubators in larger cities with larger networks surrounding it. Location itself is not something you should rank high in the list of things you need to consider when choosing an incubator, but it definitely does come into play when considering the network you want to build for your company.</div>
== Potential Unexpected ==
<div>Either way, any incubator will bring valuable experience, as unexpected relationships will form, and unplanned goals will be met out of serendipity, as long as you are open to them. The most efficient way to use your time is to pick an incubator which will have the most opportunities for the types of relationships/resources you are chasing.</div><div> </div>
== Network (Who You Want to be Connected With) ==

a) Reach out as early as possible to individuals you respect and aspire to be like.  The earlier you reach out the more time these relationships have to grow and develop.  Mentorships can often form, giving you support and guidance when brainstorming, planning, and launching your start-ups.  These connections can also be extremely useful when trying to secure a business incubator.  Connecting with a business incubator or accelerator through a mutually known individual can create a friendlier initial interaction and increase your chances of being selected. Either way, never be afraid to ask someone to coffee, ask for help, or to update someone on your process.

b) The University Innovation Fellows network is one of the greatest tools available to us.  Once we are accepted into the program we will connect and form relationships with some of the most engaged and creative young minds around the country.  When Elliot traveled to Cork, Ireland with Indiebio to quick start Spira he took two other fellows with him as team members.  Allow UIF to open your horizons to different individuals and ways of thinking, and truly use the community to its full potential.

== Team Members (What Sorts of People You are Looking For) ==

'''a) Based on Skills/Weaknesses'''

''' '''Within a business, it is important to have individuals with varying and diverse skill sets. What is one person’s weakness is most likely another’s strength.  Elliot himself stated that he is more of the creative mind but lacks in organizational and communicative skills. He has planned for a diverse team, and found a cofounder at Spira, to fill in these gaps.  The company benefits from everyone’s talents.  Additionally, if the individual has well-developed technical skills, and is an expert in some field, it is much easier to teach them how to sell then to teach someone who knows how to sell the desired technical skills.

'''b) Based on Your Needs as a Company'''

If your company already has a creative leader (like Elliot) but not people who can implement those creative ideas into physical designs, or someone who can organize, you need to find those people as well. This goes hand-in-hand with strengths and weaknesses, but you do need to find others that can not only complete your personality in the workfield, but also get the tasks done based on their skill set. 

'''c) Based on Fits (How to Vet People)'''

Do a small task with them whether it be a little engineering project, a small part of something to do with the startup, or just going and playing video games together to see how they work with you, and to predict what future interactions will be like. The most common reason why startups fail is because of issues with the people working for them.  Therefore choose your teammates wisely and make sure they have similar goals in mind.

--This can become tricky when money and financial aspects come into play. It is essential to have team members sign an agreement, and all be on the same page, before the business or product takes off.

== Risk and Reward (cost, equity, money, time vs payoff, networks, funding, prototyping material, experience) ==

a) Technically, it will not cost you money to reach out to businesses in hopes they could be your incubator. However, in order for them to be swayed to accept, sometimes there is money involved. “Give before you receive” is a phrase Elliot stood by, and it basically means to find what that business wants or needs, and make an offer to help them get these things in hopes that this gesture will make them want to give to you in return. This could be as simple as designing something for them with your own resources, or as extensive as flying them out to run a 5K in your state (yes, Elliot did offer to do that). However, this money will be nothing compared to the experience you gain, and hopefully the profit you make from starting up your company.
<div>b) Timewise, this might take a while. It could take weeks to months before convincing a company that your product is worth the investment. Elliot aimed for 3 main incubators and accelerators when working on his company Spira. Once securing an incubator the process of invention and testing begins almost immediately. Once you are in an accelerator program, all day everyday is spent on the product. There is a lot of time put into this, but it is worth it once you find the right incubator for your business.</div><div> </div>

== Support (students, faculty, staff needed to facilitate prior to and during the event) ==

Support is so important when developing a new business or idea. Something that Elliot struggled with was the lack of support from the faculty at his university. He had to combat this with support from his friends and his motivation to get things done. In one situation he was trying to make a product with a fellow student and it didn’t work out because the support between the student and Elliot was not there. Overall, to have a successful event you need the support of students, faculty, and staff. 

== Lessons learned and tips for others (what worked and what didn’t, and your recommendations for others) ==

a) The innovators and entrepreneurs who are making changes in the world are constantly asking questions.  They identify problems or areas that need improvement, ask themselves why they are the way that they are, and brainstorm a way to improve.  Therefore, a key piece of advice is to be curious. Look at the world around you as it truly is and ask questions.  Don’t settle for the status quo - instead challenge it to be better.

b) Failure is not a setback but should, instead, be seen as an opportunity.  From failure you find out what works and what areas need improvement. You learn about yourself and your company and are able to grow from these problems.

c) Never view rejection as a negative. If you believe in your product and company, and believe that it is the right thing to do, then continue with as much, if not more, momentum than before. Rejection is inevitable.  However, rejection should also teach you that when given an opportunity you cannot waste it.  Use that opportunity to its maximum and execute.  Prove to the people that saw potential that they were not wrong to have faith in your product.  Illustrate that the team is passionate and has the work ethic to succeed.

== Student Contributors ==

[http://universityinnovation.org/wiki/Meghan_Reynolds http://universityinnovation.org/wiki/Meghan_Reynolds]

[http://universityinnovation.org/wiki/Haley_Pfeiffer]

== Recording of Interview ==

https://bluejeans.com/playback/s/h2JYEqAItnyLWDQp3yZUbHPi5eEerrLUrwaL6UIToaxQLpVVJ6rqxVfsBEycnJIE

Fellow:Haley Pfeiffer

2017-01-05T15:31:17Z

Hcpfei01:

Haley Pfeiffer is a marketing major with an entrepreneurship minor with a passion for music. These skills and passions combine to allow her to look at every task in a unique and innovative way. Haley is a proud member of the University of Louisville Baja SAE team and is the captain of their PR team. When she is not in the engineering garage or studying, you can find Haley practicing her guitar or volunteering at the local animal shelter. She aspires to be a small business owner and hopes to be able to travel all over the world and experience new things in all of her endeavor

s. [[File:Haley Pfeiffer.jpg]]

Fellow:Haley Pfeiffer

2017-01-05T15:30:24Z

Hcpfei01:

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Haley Pfeiffer is a marketing major with an entrepreneurship minor with a passion for music. These skills and passions combine to allow her to look at every task in a unique and innovative way. Haley is a proud member of the University of Louisville Baja SAE team and is the captain of their PR team. When she is not in the engineering garage or studying, you can find Haley practicing her guitar or volunteering at the local animal shelter. She aspires to be a small business owner and hopes to be able to travel all over the world and experience new things in all of her endeavor

s. [[File:Haley Pfeiffer.jpg]]

Fellow:Haley Pfeiffer

2017-01-05T15:23:39Z

Hcpfei01:

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Haley Pfeiffer is a marketing major with an entrepreneurship minor with a passion for music. These skills and passions combine to allow Haley to look at every task in a unique and innovative way. Haley is a proud member of the University of Louisville Baja SAE team and is the captain of their PR team. When she is not in the engineering garage or studying, you can find Haley practicing her guitar or volunteering at the local animal shelter. She aspires to be a small business owner and hopes to be able to travel all over the world and experience new things in all of her endeavors. 

[[File:Haley Pfeiffer.jpg]]

Fellow:Haley Pfeiffer

2017-01-05T04:28:59Z

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2017-01-05T04:21:56Z

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