School:University of Delaware
Contents
Encouraging faculty innovation and entrepreneurship
The Office of Economic Innovation Partnerships (OEIP) plays a significant role in assisting faculty members with innovation. Faculty members are also allowed to take a day every week to work on their own ideas, which could potentially lead to product innovation, a startup or a licensing opportunity. OEIP also provides assistance with training related to SBIR (Small Business Innovation Research) and STTR (Small Business Technology Transfer) grant application process. OEIP is working on making their online interface easier for faculty members to navigate.
Faculty members are excited and passionate about innovation, but do need assistance when it comes to exploring the commercial viability of an idea or a product. Besides OEIP, the University of Delaware library offers access to latest data related to industry research, marketing research and small business and entrepreneurship. This resource is useful to evaluate the viability of an idea.
Faculty members are also encouraged to present their ideas and prototypes during the “Entrepreneurship and Risk: Meeting the Challenges” course (listed as MSEG 425). The course is attended by a group of engineering and business majors who develop a business plan for the faculty members to pursue it further.
Actively supporting the university technology transfer function
Facilitating University-Industry Collaboration
The Delaware technology park offers a space for new and companies to work. Star campus is home to the universities rehab centers and health science laboratories. With the completion of the new building startups and small companies will be able to lease the space as a office. Leading Edge Venture, First State Innovation, Vital venture Capital, and Yet2ventures are all possible outside financial resources students can contact for investments. A good mentor network can be found by either talking to a Horn Advisory Board member or a Lerner Executive Mentor.
Engaging with regional and local economic development efforts
The Small Business Development Center is a potential resource for new businesses to go and get helpful advising. Along with advising they can help them get a space in the Delaware technology park. Also, the Office of Economic Innovation and Partnerships will help contracted faculty obtain IP and help commercialize potentially viable ideas. These benefits are not directed toward students. Undergraduate students who are not contracted with the University can get limited support from the OEIP.
</ul>
