intnews12--03

UT launches the International Idea to Product™ (I2P™) Competition & Hosts the UT local I2P™ Kick-Off

December 2003 - from "The Vector" College of Engineering Student Newsletter

The University of Texas at Austin hosted the first international Idea to Product Student Technology Commercialization Forum and Competition November 8th, 2003. The event represents the successful launch of the joint vision of Dr. Steve Nichols, Associate Vice President of Research and the Director of the Murchison Chair of Free Enterprise, and John Doggett, Director of Executive Entrepreneurship Education and Senior Lecturer of McCombs School of Business. Five schools were invited to join the University of Texas in presenting student and university innovations – unique products with commercial market potential. Student participants included undergraduate engineers, doctoral candidates, medical students, and graduate business students.

The competing teams prepared technology venture summaries addressing their innovations’ market potential and presented commercialization plans to a panel of industry leaders in technology commercialization. The 2003 international judges included Payne Harrison (COO - Grid Technologies), Norm Schumaker (CEO -Molecular Imprints), Charles Shields (Partner - JumpStart Revenue), Paul Tobias (Managing Partner - Wilson Sonsini Goodrich & Rosati), and Carol Williams (CEO - Trendsetter Technologies). The results of the student efforts were impressive and the judges commented on the refreshing application of student innovation in addressing social and community market opportunities.

The presentations addressed the key questions that range the disciplines of the technology commercialization – law, engineering, natural science, and business. This scope of research requires students to collaborate to identify optimal paths to viable markets. The four general areas of due diligence includes: the product idea and market need, the technology and development plan, the market and first customer, and the competitive advantage. The quality presentations and positive feedback from the judges was a result of the strong efforts performed by the teams in identifying potential markets, end users and potential licensees, as well as contacting industry experts and companies.

The teams were competing for $18,000 in cash prizes intended to reward students and allow them to further their goal of product commercialization. Competitors who participated in I2P 2003 International presented innovative technologies:

Georgia Institute of Technology and Emory School of Law: Revolutionary computer interface and software that assists the visually impaired through colors, sounds and stimuli.

Imperial College London: Inhalit, a lifesaving asthma-monitoring device designed to provide reassurance in the palm of your hand.

Penn State University: Sol-AidTM, a simple-to-use electronic device that monitors accumulated ultra-violet (UV) rays to let users know when they have been in the sun too long -- targets estimated 42 million Americans who will develop skin cancer in their lives.

Purdue University: Judicial Database Systems (JDS), custom designed software for county probation departments alleviating resources spent by country governments.

Stanford University: Project from Stanford Digital Vision program allowing Africans living abroad to easily negotiate and purchase products and services, including health care plans, for their families at home.

The University of Texas at Austin: Advanced Laser Composites (ALC) technology to rapidly and economically manufacture reaction-bonded silicon carbide parts.

The Imperial College London team won the first place $10,000 prize and they were seen after the competition on South Congress Avenue procuring authentic western wear to celebrate their success in Austin. Two University of Texas at Austin doctoral students, Scott Evans and Donnie Vanelli, presented their application of selective laser sintering, silicon carbide, and advanced bonding infiltrates to created stronger and longer lasting tools dies that are using to make cast parts, and won the $5,000 second place award. Georgia Tech won third place and also won the faculty team advisers award for the best team presentation in the preliminary feedback rounds held before the finals.

The University programs represented a wide range of programs within the different universities. Purdue’s Judicial Database System was a product developed by a student design “firm” from the EPICS program. The EPICS program is designed to provide students real world engagements with community nonprofit organizations to develop commercial products. Stanford’s team MamaMikes – which aides online transactions for the Africa ex-patriot community – is a product of the Stanford Digital Vision program providing entrepreneurs research grants to develop product specifically for emerging nations.

Based on the success of the first international event we are looking forward to expanding the program to additional international schools, as well as incubating new I2P local competitions to act as feeders for future international events. We have received interest from other school interested in participating in the 2004 international event to 10 to 15 teams. We anticipate adding additional international schools including ITESM of Monterrey, Mexico, India Institute of Technology, Cal Tech, MIT, LSU, Rice and Texas A&M. There is unlimited opportunity in what the Idea to Product Event can become in the future.

Our first step in enhancing the international event is to continue generating ideas on the UT-Austin campus in the Technology Entrepreneurship Society’s local I2P competition. TES held the local I2P 2004 kick-off event November 18th and the TES officers encourage students to visit www.ideatoproduct.org and fill out a participant form to learn more about the event. The TES is also planning a workshop in January sponsored by the National Collegiate Inventors and Innovators Alliance. The workshop will focus on the systematic approach to developing commercialization plans.

Hosts

Partners and Sponsors

Selig Fund in Entrepreneurial Studies

Roden Center of Entrepreneurship