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Workshop 1 Presentation Materials Building an Entrepreneurial Culture of Risk Taking and Venture Creation What is corporate culture? Culture is • Not one of those soft matters to be dealt with after the real business is done. • A complement to the formal, established rules of doing business. To Create a Culture of Innovation Strategies and tactics must be in alignment with goal to create an innovative culture. Strategic • Hiring • Inspiring • Leading Hiring • Attract the brightest stars Decide how much creativity you can tolerate Let the job description set the tone Look outside your usual pipeline Hiring • Test to select the best Behavior questions Samples of previous work Abstract reasoning tests Inspiring • Let them work their way, within bounds. • Allow them to fail without fear. • Compensate competitively • Create happiness Common Definitions • History • Values & Beliefs • Stories • Ceremonies Leading • Stress the importance of creativity Leading • Train staff in innovation techniques. Leading • Act on ideas Leading • Create diverse teams You Set the Pace As the leader of your organization, people are watching you. Creating a SWOT Analysis Joy Fisher University of Tennessee [email protected] What is a SWOT Analysis? • Structured planning method • Evaluates these elements of a project: • Strengths • Weaknesses • Opportunities • Threats • Objective: increase translation of research-based innovation from your region into products and services that benefit society Architecture of a SWOT Analysis Helpful Harmful to achieving the objective to achieving the objective Objective: Increase Strengths Weaknesses translation of research- Internal based innovation from to the organization(s) your region into products and services that benefit society Opportunities Threats External to to the organization(s) Identify SWOT Elements Helpful Harmful to achieving the objective to achieving the objective Objective: Increase Strengths: Weaknesses: translation of research- 1. 1. based innovation into 2. 2. products and services 3. 3. Internal that benefit society 4. 4. to organization(s) theto 5. 5. Opportunities: Threats: 1. 1. 2. 2. 3. 3. External 4. 4. to organization(s) theto 5. 5. Example Helpful Harmful Objective: Introduce a Strengths: high performance odor 1. Superior performance eliminator for used and 2. Experienced team rental cars Internal 3. Regulatory knowledge 4. Platform chemistry External Example Helpful Harmful Objective: Introduce a Strengths: high performance odor Weaknesses: 1. Superior performance Funding eliminator for used and 1. 2. Experienced team Weak investor support rental cars 2. Internal 3. Regulatory knowledge 3. Automotive knowledge 4. Platform chemistry 4. Sales experience External Example Helpful Harmful Objective: Introduce a Strengths: high performance odor Weaknesses: 1. Superior performance Funding eliminator for used and 1. 2. Experienced team Weak investor support rental cars 2. Internal 3. Regulatory knowledge 3. Automotive knowledge 4. Platform chemistry 4. Sales experience Opportunities: 1. Nothing works well 2. Impact on car prices External 3. Low regulatory barriers Example Helpful Harmful Objective: Introduce a Strengths: high performance odor Weaknesses: 1. Superior performance Funding eliminator for used and 1. 2. Experienced team Weak investor support rental cars 2. Internal 3. Regulatory knowledge 3. Automotive knowledge 4. Platform chemistry 4. Sales experience Opportunities: Threats: 1. Nothing works well 1. Chemical perception 2. Impact on car prices 2. Market “noise” External 3. Low regulatory barriers 3. Lots of distributors 4. Jaded market Preview of Workshop 2 Next Steps Strengths: Weaknesses: 1. 1. 2. 2. 3. 3. 4. 4. 5. 5. Opportunities: Strategies for using Strategies for overcoming 1. strengths to take weaknesses by taking 2. advantage of opportunities advantage of opportunities 3. 1. 1. 4. 2. 2. 5. 3. 3. Threats: Strategies for using Strategies for minimizing 1. strengths to avoid threats weaknesses and avoiding 2. 1. threats 3. 2. 1. 4. 3. 2. 5. 4. 3. QUESTION AND ANSWER PERIOD WORKSHOP 2 Review of Workshop 1 SWOT Elements Helpful Harmful to achieving the objective to achieving the objective Objective: Increase Strengths: Weaknesses: translation of research- 1. 1. based innovation into 2. 2. products and services 3. 3. Internal that benefit society 4. 4. to organization(s) theto 5. 5. Opportunities: Threats: 1. 1. 2. 2. 3. 3. External 4. 4. to organization(s) theto 5. 5. Highlight a State Example? Next Step: Formulating Strategies Strengths: Weaknesses: 1. 1. 2. 2. 3. 3. 4. 4. 5. 5. Opportunities: Strategies for using Strategies for overcoming 1. strengths to take weaknesses by taking 2. advantage of opportunities advantage of opportunities 3. 1. 1. 4. 2. 2. 5. 3. 3. Threats: Strategies for using Strategies for minimizing 1. strengths to avoid threats weaknesses and avoiding 2. 1. threats 3. 2. 1. 4. 3. 2. 5. 4. 3. Example Strengths: Weaknesses: Objective: Introduce a high 1. Superior performance 1. Funding performance odor eliminator 2. Experienced team 2. Weak investor support for used and rental cars 3. Regulatory knowledge 3. Automotive knowledge 4. Platform chemistry 4. Sales experience Opportunities: 1. Nothing works well 2. Impact on car prices 3. Low regulatory barriers Threats: 1. Chemical perception 2. Market “noise” 3. Lots of distributors 4. Jaded market Example Strengths: Weaknesses: Objective: Introduce a high 1. Superior performance 1. Funding performance odor eliminator 2. Experienced team 2. Weak investor support for used and rental cars 3. Regulatory knowledge 3. Automotive knowledge 4. Platform chemistry 4. Sales experience Strategies: Strategies: Opportunities: 1. Structured devel. plan 1. Hire industry salesperson 1. Nothing works well 2. Provide free samples 2. Customer testimonials 2. Impact on car prices 3. Demo at trade shows 3. Speak at conferences 3. Low regulatory barriers 4. Track/publish metrics Strategies: Strategies: Threats: 1. Customer testimonials 1. Industry advisory board 1. Market “noise” 2. Prioritize customer 2. Speak at conferences 2. Lots of distributors targets 3. Customer testimonials 3. Jaded market 3. Chemical facts on 4. OEM with large player 4. Chemical perception website QUESTION AND ANSWER PERIOD Developing Effective Partnerships Between Universities and Industry Rathindra (Babu) DasGupta Lead Program Director, IIP Academic Cluster Division of Industrial Innovation and Partnerships National Science Foundation NSF EPSCoR Workshop Series October 5-6, 2015 Importance of Partnership? • Universities: • Less dependence on funding from government agencies • Exposure to “real world” problems • Sharing risks and rewards associated with the research • Vehicle for contributing to the training of the next generation of scientists and engineers • Industry: • Lower risks, accelerate competitive R&D or internal cost avoidance… • Vehicle for accessing the next generation of scientists and engineers • Contribution to economic development Factors affecting Partnership? • Robust relationship (“happy marriage”) • Communication & transparency • Shared vision • Time commitment • Intellectual property, NDA… • Return on investment (ROI) • Availability of funds • Others… Opportunities at NSF • Grant Opportunities for Academic Liaison with Industry (GOALI) • Industry/University Cooperative Research Center (I/UCRC) • Accelerating Innovation Research: Technology Translation (AIR-TT) • Partnership for Innovation: Building Innovation Capacity (PFI:BIC) • Engineering Research Center (ERC) • Innovation Corps (I-Corps) • Small Business Innovation Research (SBIR) Research to Commercialization: Filling the Gap Corps - Industry NSF overall I/UCRC I ERC STC GOALI PFI: BIC/AIR STTR SBIR Investors “Ditch of Death” Valley of Death Foundations Small Businesses Universities Discovery Development March 4, 2016 Commercialization 5 Grant Opportunities for Academic Liaison with Industry (GOALI) • Aims to synergize university-industry partnerships and fund transformative research that industry would not normally fund • Three Mechanisms: • Faculty and Students in industry • Industry Scientists and Engineers in Academe • Industry-University Collaborative Research Projects • Criteria: • Impact/relevance of successful research • Resources considered (time, facilities, materials, IP) • Strong Industrial co-PI Industry/University Cooperative Research Center (I/UCRC) Nucleus: A Cooperatively Defined, Funded & Shared Research Portfolio Industry Industry Advisory Board (IAB) Pooled Member $’s Shared Project Addresses precompetitive Portfolio needs shared Value • Cooperatively by IAB defined, selected Research derived • Governed by NSF Projects from I/UCRC Agreement Leverages & portfolio - Royalty free builds nonexclusive access university to IP by members Investment of strengths Indirects Center Sites Universities Requires trust be built in the model, and between all partners in the center. 77 Centers Across the Nation in FY14 Reach: 42 of 50 States 52 ENG CISE25 CISE ENG 5 Formal International Sites Russia Innovation through Partnerships 8 I/UCRC Impact vs. Investment: Examples IMS: Intelligent Maintenance Systems (2001) CPaSS: Center for Particulates & Surfactants (1998) BSAC: Berkeley Sensors and Actuators Center (1986) IUCRC investments & Impacts TOTAL IMS BSAC CPaSS Estimated impacts (present value) $1267.1M $846,738,946 $410,727,849 $9,638,633 Total investments (present value) $19.6M $3,133,857 $13,250,712 $3,203,057 Benefit:Cost Ratio 64.7:1 270.2:1 31.2:1 3.0:1 Net Present Value $1247.5M $843,605,090 $397,477,137
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