#Finance for Emerging Business Enterprises
=== Departments '''Center for Innovation and Programs ===Entrepreneurship'''
==== “ The Center for Innovation and Entrepreneurship ====offers students and faculty of all disciplines the opportunity to work together to develop innovative and entrepreneurial solutions to the major problems facing our community, the region and the world. The Center hosts several programs that encourage social innovation and entrepreneurship among UMass Lowell students as well as the broader community in which we live. The DifferenceMaker program provides training, mentoring and other resources to UMass Lowell students and faculty who wish to address social, environmental and economic problems in our community. “
If you have an idea, enjoy thinking creatively and innovatively, want to solve a problem, start a new business or make a difference...DifferenceMakers is for YOU! All students are welcomed to make a difference at UMass Lowell, make a difference in the community and make a difference in society.'''DifferenceMaker Program Available Resources Include:'''
Through the Center for Innovation & Entrepreneurship, along with affiliated faculty and other campus programs, the University is introducing a range of activities that help students make a difference in the world. Upcoming student activities include:nbsp;
*'''DifferenceMaker $25k Student Competition• – '''See a problem? Want to solve it? Put together a UMass Lowell student team, present an innovative solution and compete for $25,000 in cash and prizes.DifferenceMaker Central
*''''Honors DifferenceMaker Program'• –''' In Large open office collaboration space equipped with Wi-Fi, 3 Mac computers, printer/copier, 2 46” LCD TV monitors with UMass Lowell Honors Programprojection capabilities, 6 white boards, this concerted effort to embed elements of social entrepreneurship in our Honors Program includes coursework 10 tables with chairs all equipped with wheels that can be easily rearranged for optimal use and community-based student effortscollaboration, refrigerator, sink, cabinet space, coffee maker and other necessary office supplies.
*''''Freshman Make A Difference'• –''' In collaboration with UMass Lowell Orientation, Student Activities and Leadership and Residence Life Offices, this a year-long effort aims to engage freshmen in solving local and regional problems through entrepreneurial action. Funding Opportunities
*'''DifferenceMaker Enterprise Co-op Students• – '''The Center for Innovation & Entrepreneurship will recruit and sponsor DifferenceMaker Co-op students who will assist in the implementation of DifferenceMaker activities and programs.nbsp; Idea Challenge
*'''Campus Catalyst Competition• – '''The Merrimack Valley Sandbox supports student teams with innovative ideas. An initial grant of $500 plus support and growth opportunities are provided to the most promising projects.[http Other competitions://merrimackvalleysandbox.org/catalyst-programs-2/catalyst-programs Learn more].
*'''Digital Federal Credit Union • DCU Innovation Contest'''
*• FAHSS Creative Venture Competition • Hawk Hatch • Philanthropic Crowd Funding Source • Grants • Networking • Connection to faculty, staff, and alumni • Mentors • Faculty Fellows and DifferenceMaker Staff • Events • Series of Educational Entrepreneurial Workshops including materials • Problem, Opportunity, Solution, Resources, Pitch Coaching • Team Building Assistance • TeamMaker Platform, Team Building Mixer • Enterprise co-op positions Through the Center for Innovation & Entrepreneurship, along with affiliated faculty and other campus programs, the University has introduced a range of activities that help students make a difference in the world. '''About DifferenceMakers:''' The DifferenceMaker Program sponsors specific events and activities that support students in solving big problems through innovation and entrepreneurship. The Program is highly experiential by offering students a series of workshops that they can engage in to better understand innovation, entrepreneurship and launching a start-up of their interest. Students of all majors and disciplines are welcome to join this Program and make a difference at UMass Lowell, in the community or in the world through innovative and entrepreneurial action. These DifferenceMaker projects include interdisciplinary student teams from all majors and skill sets. '''Goals of DifferenceMakers:''' · Introduce all UMass students to creative problem solving, innovation and entrepreneurship · Accelerate purpose in each students education · Connect current students to alumni experience · Encourage a social responsibility ethos '''DifferenceMaker Available Activities Include:'''<br/> · '''DifferenceMaker Central-'''DifferenceMaker Central was opened in May 2013. This space is a dedicated entrepreneurial area with a vibrant start-up community atmosphere. The space was made for all entrepreneurial teams to come together to work, brainstorm, and network. Student teams have access to flexible workstations, televisions, computers, mentors, and a dynamic meeting space to develop their ideas and collaborate amongst their teammates and fellow students.<br/> · '''DifferenceMaker Enterprise Co-op''' '''in the Center for Innovation and Entrepreneurship''''''-'''Throughout each year, DifferenceMakers will hire several students from various majors to participate in paid co-op experiences. Student co-ops assist in conducting and summarizing entrepreneurial research, developing and distributing marketing materials for various center initiatives, and provide center support for faculty and innovation fellows affiliate with the center. <br/> · '''Freshman Make A Difference Orientation – '''During the summer sessions, DifferenceMaker has a large presence in the Freshman Orientation days. Through the Office of Orientation, Student Activities and Leadership, and ResLife, DifferenceMaker was able to present to every attending freshman and gain exposure to all of the new students at UMass Lowell. <br/> · '''Freshman DifferenceMaker Convocation-''' At the beginning of each academic year, we present DifferenceMakers to every incoming freshman at Convocation. Each year we perform a fun activity to engage students in our program.<br/> · '''Introduction to DifferenceMaker-Freshman Seminars-'''A series of in-class discussions in collaboration with the Manning School of Business, The Francis College of Engineering, The College of Fine Arts, Humanities, and Social Sciences, and The College of Health Sciences in order to introduce the DifferenceMaker Program to students of all disciplines and to inspire them to explore their passions through creative problem solving.<br/> · '''Introduction to the DifferenceMaker Program-'''A series of events were held on both the north and south campuses to introduce students to DifferenceMaker Program concepts, allow them to share their ideas and interests, explore possible projects and solution, and to connected with each other to form teams. These events included the DifferenceMaker Convocation Pitch, the Climate Change Teach-in, a DifferenceMaker Team Building Dinner, and others.<br/> · '''DifferenceMaker LLC – '''Having a presence in the student residence halls as well as the classroom is important to motivate students and discover new ideas waiting to happen. The DifferenceMaker Living/Learning Community brings new students together in the ResLife environment for innovation and brainstorming outside of the classroom. · '''Honors DifferenceMaker Program –''' In collaboration with UMass Lowell Honors Program, this concerted effort to embed elements of social entrepreneurship in our Honors Program includes coursework and community-based student efforts that have specific focus on innovation and entrepreneurial practices. · '''Introduction to Engineering-'''Extra Credit Project-This activity was a collaboration effort between the DifferenceMaker Program and The Francis College of Engineering to introduce freshman engineering majors to the DifferenceMaker Program, innovation, and entrepreneurship. In this introductory activity, the students’ innovative ideas were explored and presented in a format which would enable their projects to be candidates for both the DifferenceMaker Program Idea Challenge and Campus Catalyst program.<br/> · '''Creative Venture Competition- '''This contest held in October of 2013 hosted by DifferenceMaker focused on innovation from Arts, Humanities, and Social Science students. $2500 was awarded to the best entrepreneurial business a proposal, and $250 to each finalist team was also awarded. · '''Digital Federal Credit Union Innovation Contest – '''In November of 2013, DifferenceMaker along with DCU hosted an Innovation Contest focusing on banking and financial innovation in the industry. With a grand prize of $500 per team member and peripheral prizes of $100 per team member, the contest gave thousands to innovative teams and cutting edge ideas. · '''DifferenceMaker Reverse Pitch – '''This pitch event was debuted on November 19, 2013. This event was a spin off of “normal” idea challenges and hackathons. Instead of students pitching their ideas to funding sources or judges, businesses and community partners actually pitched their existing problems to a student audience in the hopes that they can develop a solution. The pitches included Merrimack Valley Housing Partnership, Lowell Telecommunications Corporation, Habitat for Humanity of Greater Lowell, Catie’s Closet and the Natick Soldier Research Development and Engineering Center. Students will be able to solve these problems and present them at the Annual IdeaChallenge for funding opportunities. · '''Freshman Business Class-Lego Problem Solving-'''This Lego activity was a collaboration effort between the DifferenceMaker Program and the Manning School of Business to introduce students to the ideation development process and problem solving method, as well as helping them strengthen their ability to work in a team. Sessions were conducted in 9 classes with over 400 students participating. Prof. Deborah Finch of the Manning School of Business led this effort. · '''DifferenceMaker Idea Challenge– '''DifferenceMaker is hosting its second annual Idea Challenge; this challenge is for student entrepreneurial teams to come up with sustainable ideas that will make some sort of impact on the world or their community. Help in the form of various workshops in the months leading up to the Idea Challenge is available, teaching students how to properly pitch their ideas and how to flesh out their business plans. There are various subcategories for each team to have a chance at winning spread out across over many different disciplines, encouraging all students to participate and welcoming all ideas. · '''DifferenceMaker Workshops-'''In preparation for the annual DifferenceMaker IdeaChallenge, we offer our students a series of educational entrepreneurial workshops throughout the spring semester. o Team Building Mixer o Identifying Problems and Opportunities o Developing Solutions o Identifying Resources o Rocket Pitch Coaching · '''Promoting the Campus Catalyst Program'''-The DifferenceMaker Program works closely with the Merrimack Valley Sandbox, a community business accelerator funded by the Deshpande Foundation, in order to encourage students to generate and develop their entrepreneurial ideas. The Sandbox Campus Catalyst program provided seed funding for student social and business solutions with potential. Catalyst information was provided to students at all DifferenceMaker events. Students also received consultation when applying to the Campus Catalyst Program. The DifferenceMaker application and Campus Catalyst application were similar in content so that unity between these programs would be maximized. CURRENT · '''DifferenceMaker Program Promotion-'''In order to promote awareness of, and participation in, DifferenceMaker activities among faculty, staff, and students, a variety of outreach materials were developed and distributed across the University. These activities included program launch events, a DifferenceMaker website, a Facebook site, a Twitter feed (UML_Difference), various posters, postcards, presentations to classrooms, workshops, office hours, email blasts, and information tables. CURRENT · '''TeamMaker Platform''' - Allows students to build their project teams by posting their project ideas and information online where they can then search for “seekers” (students interested in becoming part of a team). On the other hand, “seekers” can utilize the TeamMaker Platform by posting their project interests and skills, and seeking projects/teams to work with. This platform facilitates team formation. CURRENT '''DifferenceMaker Inaugural Year Statistics'''<br/> · 72 DifferenceMaker events held in inaugural year · 3,500 students who participates in a DifferenceMaker event this past year · $25,000 of funds awarded to 10 IdeaChallenge finalist teams · 1,265 freshman participating in summer rapid ideation workshops · 112 students who participated in the First Annual IdeaChallenge · 22 cross discipline relationships notes between students among IdeaChallenge teams · 24 academic disciplines represented by students in the IdeaChallenge teams '''First Annual DifferenceMaker IdeaChallenge Finalists''' '''Campus-Wide DifferenceMaker''' '''$5,000''' '''Developing Nation Prosthetic '''<br/>Low cost high functionality replacement limb with an acceptable amount of customization for children in other nations. · Katherine Cain Mechanical Engineering 2013 · Jonathan De Alderete Mechanical Engineering 2013 · Brendan Donoghue Mechanical Engineering, History 2013 · Sean Gibson Mechanical Engineering, Business 2013 · Olivia Keane Mechanical Engineering 2013 · Erin Keaney Plastics Engineering 2013 '''Significant Social Impact''' '''1st Place - $3,500''' '''Healthy Habits '''<br/>Inspire children to achieve healthier lifestyles by eating nutritious foods, exercising and being active to prevent sedentary lifestyles. · Jacqueline Bradley Nursing 2013 · Meghan Hathaway Nursing 2013 · Katerina Kafkas Nursing 2013 · Nicole Leblance Nursing 2013 · Haley Mayne Nursing 2013 · Michelle Racioppi Nursing 2013 '''2nd Place - $1,500''' '''Bright Future Generation '''<br/>Non-Profit Organization: Mental health services addressing the needs of Rwandan youth. · Vanessa Colomba Peace and Conflict Studies 2013 · Steve DiPerna Psychology · Isaie Mihigo University of Rwanda · Yousef Theeb Business 2016 '''Sustainable Environment''' '''1st Place - $3,500''' '''Lowell Sprouts/Lets Grow Lowell''' <br/>Uses school gardens as a way to educate middle school children about the importance of sustainable, organic agriculture. · Mary Beth Burwood Psychology 2012 · Sean Hicks Marketing 2014 · Christopher Horne Economics 2014 '''2nd Place - $1,500''' '''Hybrid Power Tricycle''' <br/>Assistive tricycle for handicap kids that utilizes pedaling power and a motor together. It also has a full support system and wireless shutoff. · Anthony Capone Electrical Engineering Masters · Derek Dempsey Electrical Engineering Masters '''Innovative Technology''' '''1st Place - $3,500''' '''Robotic Feeding Arm''' <br/>Produces robotic arms to assist people where debilitating circumstances inhibit them from performing daily living activities. · Philip Colangelo Computer Engineering Masters '''2nd Place - $1,500''' '''Notoja '''<br/>School enrichment collaboration application. It provides modules for student note-taking, book trading, as well as discussion groups. · Avery DeCesare Mathematics 2016 · Rohit Krishnan Electrical Engineering 2016 · Eric Marcoux Computer Science 2016 · Tanjil Mustafa Mechanical Engineering 2016 · Brian Tran Electrical Engineering 2016 '''First to Market''' '''1st Place - $3,500 ''' '''Grab a Bite''' <br/>Social food network that engages users and helps increase restaurants customer traffic through marketing, ease of use and convenience. · Aldo Beqiraj Electrical Engineering 2014 · Denis Lemos Computer Engineering 2013 · Andrew MacRobert Computer Science 2013 · Andrew Webb Computer Science 2013 '''2nd Place - $1,500''' '''III-Point Stik '''<br/>A product that gives tactile/kinesthetic feedback for both correct spinal alignment and correct breathing mechanics to demand quality movement. · Ramez Antoun Physical Therapy 2013 · Nick Bleil Graphic Design 2012 · Ryan Connor Physical Therapy 2013 · Michael Tadros Northeastern University Finance and Accounting · Robert Roufail Northeastern University Mechanical Engineering '''Honorable Mention DifferenceMaker''' '''$500''' '''U.R. Corp'''<br/>Recognizes the importance of small businesses and what they do for the economies of local and national marketplaces and helps them compete with larger companies by expanding their market reach. · Robert Fisher Mechanical Engineering 2015 '''DifferenceMaker Future Efforts:''' The DifferenceMaker Program plans to continue many of the activities and events initiated in the first year of the program. Some of these programs will be revised and they intend to launch several new initiatives, including a DifferenceMaker Passport Program, a DifferenceMaker Mentor Program and a seed grant program to encourage faculty participation in the DifferenceMaker program. They also plan to expand our collaboration with several University colleges. This year they plan to increase the role of DifferenceMaker Living Learning Community students in the DifferenceMaker program by training the members to become DifferenceMaker ambassadors once they transition into their sophomore year through weekly meetings and monthly events. The training will allow LLC members to learn more about entrepreneurship and the DifferenceMaker Program so they can promote it to student clubs and campus classes. Once the LLC students become sophomores they will transition into a DifferenceMaker Ambassador role, and hopefully will form the nucleus of a yet-to-be-formed DifferenceMaker student club. In order to assist students to both record and encourage their participation in DifferenceMaker events, they are planning the development and implementation of a DifferenceMaker Passport Program. Consistent with the goals of the UMass Lowell DifferenceMaker Program, the Passport Program will assist students to identify, record and collect experiences meant to: · Develop individual entrepreneurial identity · Develop entrepreneurial skills and self-confidence · Develop creative and sustainable solutions to complex problems · Connect with the University, MV Sandbox and community entrepreneurial ecosystems They anticipate that the number of students engaged in the DifferenceMaker Program and related activities will increase each year. As they encourage and reward the formation of various types of student ventures and projects, the need for mentors who can consult with student teams will increase. They plan to guide these students and track their progress through a professional Mentor Program. The UMass Lowell Mentor Program will provide a committed network of mentors with a broad set of skills and professional experiences, who can assist UMass Lowell entrepreneurs in developing the knowledge and skills, needed to grow an idea into a successful, new venture. The DM UMass Lowell Mentor Program will seek to connect DifferenceMaker students with successful experienced entrepreneurs and alumnus, as well as faculty and staff. The Mentor Program will focus on assisting students to further develop solutions as part of the DifferenceMaker Program. Mentors will provide guidance in further refining student team objectives and help them in building their entrepreneurial skillsets. They are planning to offer DifferenceMaker Faculty Workshops to help faculty consider how they might engage their own students in DifferenceMaker activities through course related activities and through co-curricular activities. Our hope is that by engaging more faculty, they in turn will serve as both mentors and catalysts for students, encouraging and guiding student project selection and development. They have also observed that student teams often need support and guidance from faculty from different disciplines, these workshops and an accompanying seed grant program are meant as catalysts to encourage interdisciplinary engagement among faculty, While the overarching goal of the DifferenceMaker program is to encourage UMass Lowell students to develop sustainable and entrepreneurial solutions to the challenges and opportunities they will confront in this world, they anticipate another, potentially significant impact on the University community itself. Our students will only be successful if they have the support of faculty, alumni, business and community members. During our first year of program activities, they have found these constituents to be most supportive and willing to mentor and work with our students. Alumni are mentoring and investing in student ventures. Faculty are working across disciplines to ensure their student teams make progress. Local profit and non-profit businesses are eager to work with student teams, providing real-world problems and opportunities for student projects. In one short year, the DifferenceMaker program has been embraced by the greater University community. Our hope and plan is to anchor this program in the curriculum and culture of the University, so all UMass Lowell students have an opportunity to make a difference in this world. '''DifferenceMaker Contact:''' [mailto:differencemaker@uml.edu differencemaker@uml.edu] '''facebook.com/differenceUML''' '''twitter: @difference_UML''' '''Commercial Venture and Intellectual Property Office (CVIP):''' Commercial Ventures and Intellectual Property (CVIP) is responsible for the protection and commercialization of intellectual property at UMass Lowell. '''CVIP Mission: ''' <br/>The mission of UMass Lowell’s Office of Commercial Ventures and Intellectual Property (CVIP) is to facilitate the transfer of technology arising from government, foundation and industrial sponsored university research to the private sector. They facilitate development of inventions toward commercial relevance and utility, nurture mutually beneficial and sustainable relationships between the University and industry, promote an innovative and entrepreneurial culture at the University and contribute to the economic vibrancy and well-being of the Commonwealth. CVIP’s activities enable the successful transfer of commercially viable technology from the laboratory to the marketplace for public use and benefit. <br/> '''CVIP Functions:''' <br/>The main objectives of CVIP are: · to license patents and other protections to industry in order to promote the development of inventions toward practical application; · to foster a culture of innovation, facilitate commercially promising endeavors, and positively contribute to the University’s entrepreneurial ecosystem; · to seek new business opportunities and form productive collaborations with industry in an effort to increase research and licensing revenue to the University; · to generate income for inventors and the University as a whole for use in supporting further research, technology development and transfer; · to advocate for the research community and seek to create incentives, provide rewards and obtain resources to advance commercialization of the technologies they generate. '''CVIP--Contact:''' · Jill S. Murthi, Director of CVIP by email: [mailto:Jill_Murthi@uml.edu Jill_Murthi@uml.edu] or phone: 978-934-4722 · Rajnish Kaushik, Licensing & Business Development Manager of CVIP by email: [mailto:Rajnish_Kaushik@uml.edu Rajnish_Kaushik@uml.edu] or phone: 978-934-4708 <br/> '''New Venture Initiative:''' New Venture Initiative (NVI) is a mix of university resources and equity investment designed to provide a path to and facilitate more start-up activity at UMass Lowell. As part of the larger Commercial Venture and Intellectual Property Office (CVIP), the NVI fund focuses on inventions, discoveries, products and services that have been developed in whole or in part at UMass Lowell, have achieved proof of concept (or an early prototype) and are ready for commercial product development, rather than those requiring further basic research. For more information please contact Nancy Saucier, Director of New Venture Development at [mailto:Nancy_Saucier@uml.edu Nancy_Saucier@uml.edu] or 978-934-3212. '''Massachusetts Medical Device Development Center (M2D2):''' The Massachusetts Medical Device Development Center (M2D2) is a lifeline for the state’s smaller medical device companies, offering inventors and executives easy, affordable, and coordinated access to world-class researchers and resources at the Lowell and Worcester campuses of the University of Massachusetts. '''M2D2 Available Resources:''' •9000 square feet of space on second floor including: • 6 wet laboratory suites • Two office suites • Large open office collaboration area • Board room • Reception area • Break Room equipped with a table and chairs, full size refrigerator, microwave, sink, dishwasher, and coffee maker •5000 square feet of space on first floor including: • Six individual offices • Bright shared kitchen space equipped with a table and chairs, full size refrigerator and sink • One large state of the art conference room with full pull down screen, computer with web access and a projector • All conference rooms contain a 46" Aquos LCD screen, as well as computer with web access and a projector •Business and medical feasibility assessments •Product development •Medical and clinical pathway assistance •Connection to additional services such as laboratory use, incubator space for start-ups and clinical trial support through the product life cycle •SBIR and STTR research •Access to capital •Networking events •New Venture Competitions '''M2D2--Contact Us''' Stephen McCarthy, Co-Director of M2D2 by email: [mailto:Stephen_McCarthy@uml.edu Stephen_McCarthy@uml.edu] or by phone: 978-934-3417 '''Merrimack Valley Sandbox (MV Sandbox)''' The Merrimack Valley Sandbox is a project of the Deshpande Foundation, which has encouraged the use of entrepreneurship and innovation as catalysts for sustainable change in the United States, India and Canada since 1996. Deshpande supported centers including the MIT Deshpande Center for Technological Innovation, the Deshpande Center for Social Innovation in Hubli, India, the Pond-Deshpande Centre at the University of New Brunswick, and our own Merrimack Valley Sandbox at the University of Massachusetts Lowell. The MV Sandbox includes higher education partners (Middlesex Community College, Merrimack College and Northern Essex Community College) and a host of regional community and business partners. '''MV Sandbox Mission''' The mission of the MV Sandbox is to connect and strengthen the ecosystem in Lowell and Lawrence, Massachusetts, around entrepreneurship and leadership. This mission is supported by the following three principle MV Sandbox programs: · Catalysts-The Catalyst program provides seed funding and mentoring support to foster initiative around new ideas and programs among local high school and college students. · Entrepreneurship-The Entrepreneur Program is a community-wide initiative supporting entrepreneurship. More than 30 partner organizations and institutions are participating in this initiative, which gives entrepreneurs a greater chance at success through pitch contests, workshops and intensive programs. · Leadership-The Sandbox Leadership Institute (SLI) offers leadership development for individuals that live, work or are interested in the communities of Lawrence and Lowell. ===
=== Other Organizations ===