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 inventors 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-80s
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

RHIT

RHV
Success
Fund

Education

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

MG 526 Technology Management & Forecasting
MG 520 Accounting for Technical Managers
MG 522 Organizational Management
MG 527 Project Management
MG 5XX Marketing New Technology*
MG 5XX Implementation of Innovations*
MG 5XX Entrepreneurial Finance *
Electives (Courses, especially technical )
GS 515 Selling Technology
GS 5XX Fundamentals of Intellectual Property
GS 5XX A Global Perspective on Technical Entrepreneurship*
MG 5XX Business Plan Development Project*
* - COURSES TO BE DEVELOPED

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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.