entrepreneurship and innovation babs carryer copyright © babs carryer 2011
TRANSCRIPT
Entrepreneurship and
Innovation
Babs Carryer
Copyright © Babs Carryer 2011
By way of introduction…• Entrepreneur
• Entrepreneurship teacher at CMU for 12 years
• Embedded entrepreneur, Project Olympus, CMU, SCS
• Innovation advisor, Institute for Social Innovation, CMU, Heinz
• Co-founder, past president, director of LaunchCyte LLC
• President of Carryer Consulting
• Teach commercializing new technologies at Pitt OED/OTM
• Past director of deal flow, BlueTree Allied Angels
Sailing in the Med
Lessons learned
Founding a newco…
…rewards, success, exit
The real lessons learned
X
Copyright © Babs Carryer 2011
Teaching entrepreneurship
Basic principles
Market need
Solution
Business model
Plan
Implementation
Harvest
Student competitions
An initiative of the Carnegie Mellon School of Computer Science, Olympus works with
faculty & students across campusand
collaboratively within the university innovation eco-system and the wider
innovation community
Gates
• Micro-grants, Matching funds • Space, Equipment
• Advice, Education, Assistance, Mentors• Networks, Connections, Contacts
• Visibility
provides
At the core of Olympus operation are its PROBEs (PRoblem-Oriented Business Explorations) where faculty and students explore the commercial potential of their cutting-edge research and innovations.
Incubation
Mindkin Fooala
M-Tool
Tropical Health
Semiotic
BeatBots
Students bring tremendous energy
Projects provide unique experiential learning
Project Olympus CONNECTS Students
Advisor,
Signature Show &Tells Showcase Olympus PROBEs
budding talent, local start-ups ups, university research and guest
perspectives
For the regional civic and innovation/investment
communities
"Next Generation Interactive Payment Cards”
Jeff Mullen, Dynamics, Inc.
JD, BS (ECE), MBA (Tepper) Winner, Best Innovations for Personal Electronics
Derek Lomas, PhD student, Human Computer Interaction Institute
Winner, Grand Prize,
Marvel Technology Grand Challenge
“PlayPower:Computer-Aided Learning Games for Global Education”
Fooala
ShipTogetherBeatBotsTropical Health
Systems
Ario Inc
Dynamics
M-Tools Ask Bright
Antecea
Copyright © Lenore Blum, 2010
copyright Babs Carryer 2011
By the Numbers
44 companies formed 1 acquired by Google, 1 received VC funding; 6 received SBIR funds 6 graduated to AlphaLab; 2 Innovation Works portfolio companies; 3 Idea Foundry portfolio companies
Over $9.1 million in follow-on funding from university and outside sources awarded to 15 faculty and 15 student PROBEs and companies.
Olympus participants have received a Kauffman Innovation Fellowship and 3 Kauffman Commercialization Leadership awards.
