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Building an Entrepreneurial Community at VCU

A plan to make ideas a reality

Elliot Roth

on 10 April 2013

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Transcript of Building an Entrepreneurial Community at VCU

COLLABORATE The Office of Technology Transfer, The Chamber of Commerce, and numerous other entities take over at this point to package the idea and team into a fully fledged company. The Quest for Innovation Making It Real "Interdisciplinary collaborations that bring new perspectives to complex problems and mobilize creative energies that advance innovation and solve global challenges." University-Supported System Nurture the creativity of cross-disciplinary teams in order to innovate on shared ideas ASSOCIATE Host classes, seminars, and networking events in the space centered around fostering entrepreneurship INNOVATE Our current classrooms are not built for projects teams working creatively. Space must be conducive to creation. VALIDATE Ensure great ideas and teams are being produced through an idea pipeline How? INNOVATE ASSOCIATE VALIDATE COLLABORATE A space in which teams can meet to share ideas Cross-disciplinary classes, seminars, and networking events with local entrepreneurs A board of experts meets monthly to review ideas; students compete for funds outside of VCU Project teams work with the Office of Techology Transfer and the City of Richmond to form a company END RESULT: Students graduate with fully-fledged companies that stay in Richmond and give back to VCU The ability to put ideas on every surface Adaptable environments Furniture that makes you actively engaged Prototyping materials that move
at the speed of THOUGHT DaVinci INNO sequence HUMS 591 MGMT 435-436 ENGR Senior Design ARTS 493 VCUarts Undergraduate Research Grant Teams Venture Creation Competition Teams Alternate VCU Brandcenter Friday Forums Cross-Disciplinary Grad Student Projects CEO Stories Seminar Entrepreneurship Organization Meetings Student Organization Projects Design Expo Projects City of Richmond i.e. Events University of Richmond Law Consultation 804RVA Networking Events Idea Generation Idea Pipeline Create a short, written summary of the idea and the team members in order to get a access to a whiteboard Phase I Phase III Meet with an expert and conduct research surrounding your problem Phase II Create a proposal with goals and milestones clearly outlined. Conduct market research. Phase IV Pitch the idea to a pool of interested mentors and experts in a "Shark Tank" format Phase V The Heilmeier Catechism:
A Socratic method to polish ideas 1. What are you trying to do? Articulate your objectives using absolutely no jargon.

2. What knowledge do you lack? How can you implement existing knowledge?

3. How is it done today, and what are the limits of current practice?

4. What's new in your approach and why do you think it will be successful?

5. Who cares? If you're successful, what difference will it make?

6. What are the risks and the payoffs?

7. How much will it cost? How long will it take?

8. What are the midterm and final "exams" to check for success? Give a 5 minute elevator pitch at a networking event to grow your team The project team is now vetted by experts and can proceed to a number of different options Who chooses these problems? Let students create solutions to problems they are passionate about The da Vinci Space No central position of authority Low-cost office supplies that can be used to quickly create physical designs *Faculty members are encouraged to teach cross-disciplinary classes in the space **Support from Faculty is necessary for the continuity of this system This phase will be mirrored by a crowd-sourced, online idea submission system Potential partnerships: What can VCU do to help make this happen? Pilot program with student orgs on an event-by-event basis
Publicity to stimulate faculty involvement.
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