REE USA Stanford University

DEVELOPMENT OF AN ENTREPRENEURSHIP
MINOR AND OTHER ENTREPRENEURSHIP
EDUCATION FOR ALL ENGINEERS

Tom Mason
Rose-Hulman Institute of Technology
 DEFINITION OF ENTREPRENEURSHIP

 Combination or recombination of resources in

innovative and valuable ways.
– Invention is only the beginning of innovation
– Emerson was wrong – The world will not beat a path to
the inventor’s door
– Entrepreneurship need not be a new business
 IMPORTANCE OF ENTREPRENEURSHIP

 Jobs and prosperity

 Global competition  THE DAYS OF DILBERT
ARE DONE!!!!!!
 Entrepreneurial skills are complements to technical
skills
 New enterprises seldom fail due to technical failure
 Best technology does not always win
 EDUCATION AND BUSINESS DIFFERENCES

 Pursuing truth is not the same as pursuing profits

 Academic time is different from business time
 Business allocates resources for value, not “fairness”
 Business values ambitious failures much less
 ENTREPRENEURSHIP AT ROSE-HULMAN

 A course since the mid-80’s

 Entrepreneur-in-residence program
 Project-based education
 Rose-Hulman Ventures
 Engenius Solutions
 Recent developments
– Multidisciplinary entrepreneurial design courses
– Minors for B.S. And M.S. Students
 Still in approval process
– Master In Technology Entrepreneurship
 SPECTRUM OF OPPORTUNITIES

Business
RHV
RHIT Success
Education
Fund

CTRI Engenius Solutions RHV

 ROSE-HULMAN VENTURES: THE MISSION

 Foster creation and growth of innovation-based

businesses by providing access to:
– Infrastructure
– Technical Support
– Business Support
– Capital
 Thereby providing:
– Faculty/student educational experiences
– Economic growth for Terre Haute and Indiana
 EDUCATIONAL BENEFITS

 Over 300 student & faculty experiences

 Faculty –
– Intellectual stretch & great experiences
 Students
– Excitement of “real” engineering
– Learned things not evident in courses & labs
• Requirements shift
• Business realities such as deadlines & cash
– Aids the job search – even in big companies!!
 MULTIDISCIPLINARY ENTREPRENEURIAL
DESIGN COURSES

 A dozen engineering & science faculty members

involved
 Modules on project management, creativity,
business plans, etc.
 Innovative projects for students
 NCIIA grant received for course development
 UNDERGRADUATE ENTREPRENEURSHIP
MINOR

 VA453 The Entrepreneur

 VA498 Technology Management & Forecasting
or EMGT423* Intro. To Marketing for Technical
Products (not yet available)
 EMGT427 Project Management
 SL350 Managerial Accounting
 VA454 Financial Economics
 Participation in an approved entrepreneurial senior
design experience
 GRADUATE ENTREPRENEURSHIP MINOR

 MG 532 Technical Entrepreneurship

 Mg5xx Marketing New Technology Or MG526 Tech. Mgt. &
Forecasting
 MG520 Accounting For Technical Managers Or MGXX
Entrepreneurial Finance
 MG527 Project Management
 MG5XX Implementing Innovation Or Other MSTE Course
Approved By MSEM Director
 A Thesis Experience Which Includes An Entrepreneurial Or
Commercialization Dimension.
 MASTER OF TECHNOLOGY
ENTREPRENEURSHIP

 Builds on the successful MS in Engineering

Management Program
 Focused courses to acquire needed business skills
 Blends academic work with early stage work on
innovations
 MASTER OF TECHNOLOGY ENTREPRENEURSHIP
Under consideration!

 MG 532 Technical Entrepreneurship 4

 MG 526 Technology Management & Forecasting 4
 MG 520 Accounting for Technical Managers 4
 MG 522 Organizational Management 4
 MG 527 Project Management 4
 MG 5XX Marketing New Technology* 4
 MG 5XX Implementation of Innovations* 4
 MG 5XX Entrepreneurial Finance * 4
 Electives (Courses, especially technical ) 8
 GS 515 Selling Technology 1
 GS 5XX Fundamentals of Intellectual Property 1
 GS 5XX A Global Perspective on Technical Entrepreneurship* 1
 MG 5XX Business Plan Development Project* 8
 * - COURSES TO BE DEVELOPED
 CHALLENGES &
RESPONSES
 Rigid Curricula
• Emphasize outcomes desired for the majors
• Students overload if they see value

 Worry about technical rigor

• Involve respected technical professors
 CHALLENGES &
RESPONSES
 Worry about loss of elective enrollments
• Involve technical faculty in entrepreneurship
courses

 Breadth without depth - “Now they know

about marketing and finance”.
• No – but they know they need to learn more.