Technology Entrepreneurship Commercialization (TEC) BUS-MHR 890 Course Syllabus Fall 2010 Dr. S. Michael Camp Academic Director, Center for Entrepreneurship The Ohio State University Columbus, OH 43210 614-292-3045 * 614-292-4664 (fax) email@example.com Dr. Brian Abraham COO, Groveland Capital, LLC Minneapolis, MN 612-325-1528 Office Hours: R 3:30 p.m. – 5:30 p.m. or by appointment 1 Technology Entrepreneurship and Commercialization BUS-MHR 890 Fall 2010 Gerlach Hall 305 Thursday 6:00 p.m. Course Overview This course is designed to develop a student’s ability to find, evaluate, and develop raw technical ideas into commercially viable product concepts, and build those concepts into business propositions. This course is part of the Technology Entrepreneurship and Commercialization Academy (TEC) offered by the Center for Entrepreneurship at The Ohio State University. Among other educational and outreach initiatives, the broader commercialization program includes a variety of other courses to round out the student’s education in this important area. BUS-MHR 890 focuses on strategies and techniques for evaluating technologies for commercial viability and preparing technologies for commercialization. In undertaking the course, we expect students to accrue knowledge and skills necessary for technology-based commercialization. While the course is focused towards venture-funded startups, the pedagogy is sufficiently general that the knowledge and skills are also directly applicable to commercialization within a corporate environment. Course Justification1 “In the past decade, a number of diverse factors converged to propel the issue of technology commercialization and the role of innovation in stimulating economic growth to the forefront of attention in both industry and academe. For industry, companies seeking to commercialize the technologies they develop now face a dynamic set of challenges, attitudes, and values. The marketplace demands better, faster and cheaper technology products, a product development nightmare for companies trying to survive while staying ahead of their competitors. Intellectual property has taken on a new and more vital position. Once a cost center for a corporation, intellectual property (IP) has now become a revenue center and essential competitive advantage for those firms that possess valuable IP portfolios. Consequently, 1 Ref. No.: IJEEl-3LA2 Bringing Technology to Market: a Macro View of Technology Transfer and Commercialization. 2 firms must now find ways to create value from archived patents to justify the ever increasing expense of new product development. Moreover, companies can no longer survive simply on incremental innovation - improving existing technology. Today companies must seek ways to add radical innovation to their product development mix to stimulate future opportunities before their existing technologies become obsolete. Although thousands of new products reach the market every year, the vast majority of these products fail to make a profit for the companies that created them. Therefore, it is not surprising that 40 percent of major corporations in business in 1975 are not in business today (Foster, 2000). A critical reason for this dismal record is ineffective commercialization processes that attempt to link emerging technologies with existing markets rather than with emerging markets (Stevens and Burley, 1997). Satisfying customer needs today is like trying to hit a moving target. Universities are playing an increasingly important role in the innovation and commercialization process. They rely heavily on research grants to support their R&D function, but, more and more, government and foundation funders are stipulating that the results of research must have a commercial application, that is, return something of value to society. As a result, universities are faced with the dilemma of how to stay true to their primary mission -to educate, conduct independent research, and provide service to their communities -while simultaneously responding to demands to commercialize their research findings. Although arriving late to the game of technology commercialization, university licensing activity has had a significant impact on the economy. For example, in 2008, commercialized academic research produced more than $51 billion in research expenditures, producing nearly 650 new product concepts and 600 startup companies, and 5,000 total licenses and options executed (AUTM, 2009). Despite more effective tools and knowledge about commercialization, new technology adoption is still a very slow and incremental process with only a mere fraction of all new technologies ever achieving mass adoption. Those technologies that do achieve mass adoption do so only after significant delays (Farzin, Huisman, and Kort, 1999). The slow pace of technology adoption is due in large part to the uncertainties inherent in the commercialization process. The more rapidly an invention gets to market, the more likely it is that it meets market needs defined during the development process. Yet, there are no guarantees and perhaps one of the major uncertainties of the process is that so much of the process is out of the control of the entrepreneur or firm. Given the environment described above, it is no wonder that interest in understanding, refining, and perfecting the commercialization process has quickened. Yet an understanding of the commercialization process and its outcomes at a macro level is still in the early stages.” Course Focus This course sequence has been proposed for two primary reasons. 1) There is a well recognized need for well-qualified scientists and engineers to develop a broader range of knowledge and skills, in particular, those relating to technology 3 commercialization. These assets and skills better prepare you for more typical career paths that evolve from pure R&D over time. 2) There is also a general problem of social and economic loss resulting from an inability to commercialize the technical research and development undertaken in companies, government laboratories and universities. The embedded value of IP in corporate America is estimated to be greater than $5 trillion. A great deal of R&D investment is wasted because of a limited understanding and application of methods or mechanisms to turn technologies into viable business opportunities. This course takes an entrepreneurial approach as a method for teaching technology commercialization. Since commercialization is an interdisciplinary endeavor, the entire cycle (i.e., the entrepreneurial process) of identification, evaluation, strategy development and business plan preparation must be covered. This is most effectively done in an entrepreneurial, real world context. This is critical for teaching technology commercialization. In this class we only use real world entrepreneurial opportunities. As soon as it becomes apparent that an idea cannot be developed into a real opportunity it is abandoned and an alternative concept is pursued. Each concept is created from within the TEC Team format and is a function of the TEC Protocol, initial technology and understanding of relevant market needs. These factors translate into a compelling value proposition that clear strategy and deliberate execution can capture over time. Course Pedagogy There are a number of unique theoretical constructs and paradigms that undergird this unique course. First, is that the essence of entrepreneurship is IN FACT the ability to create real value, not create new companies. The resulting companies are simply the means by which entrepreneurs facilitate the capture (realization) of the created value. Secondly, the value entrepreneurs create is socially derived or enacted (Karl Weick). In order to create value around a compelling business concept, we have to know how our ideas around innovative solutions to real problems tie in and enhance the current story publically shared by our potential customers and suppliers about the problem. Third, a relatively small fraction of the learning that is required to be a value creator is explicit and can be learned through traditional instructional offerings. Rather, the real learning that is required to develop practical value creation skills is predominantly implicit, experientially-based and personal (Steven Johnson). Therefore, the TEC Academy courses provide real world – “live” – experiences to facilitate the critical implicit learning that has to be present in order to change the way a student sees his or her impact on the world through private enterprise. Fourth, this enacted value creation requires a unique perspective from the entrepreneurial student. They have to be trained in a new form of logic – entrepreneurial logic through effectuation – (Saras Sarasvarthy) in order to be able to cope with the complexity of the task in an unpredictable and highly uncertain environment in a relatively short amount of time available in our quarter schedule. “We did not have enough time,” is never an acceptable excuse in this 4 class. We follow the Parkinson Principle that a problem will grow in complexity in direct proportion to the amount of time you have to solve it. Finally, recognizing this is a challenging proposition (create real value) in a challenging environment (uncertain), we leverage the Learning Map as the underlying framework to organize the business development effort under such extreme conditions. This framework allows otherwise inexperienced persons (students) to progress on venture development goals all the while maintaining the entrepreneurial logic underpinning the effectual perspective. This structure allows us to prioritize on the essential elements that create incremental value from stage to stage. In other words, we only focus on the 15 percent of the work we can control (Gareth Morgan), which means we don’t waste time on non-essentials and we don’t have to eliminate the environmental uncertainty. Ultimately we are focused on building entrepreneurial leaders (value creators) and not building entrepreneurial companies. To do so, we simply have to increase the Team’s confidence in 1) its perception of the opportunity and 2) its ability to successfully exploit the opportunity regardless of the uncertainty (William Baumel). Course Summary The TEC commercialization model is broken down into the following four phases of the TEC Protocol. Ideation: In this phase, TEC Teams identify promising technology areas and sources of product concepts, which are within the technical capability of the team to analyze. Teams are directed towards these technology sources, which are primarily university faculty, staff at national research institutes, or in some cases personnel from small or large business. Next, teams create product concepts based upon select technologies. It is usual for the 'technology source' to have some pre- existing product concept(s) in mind. However, depending upon the experience and interest of the technologist, the product concept(s) may be well conceived and developed, or (more usually) ill- defined. It is the task of the TEC Team to create well-defined product concepts. The team is encouraged to generate a number of concepts, for example a total of 6-8 concepts based upon 2 or 3 technologies. As described in the next phase, there is recognition that a relatively small number of product concepts will ultimately be viable, and a sufficient number must therefore be conceived and considered. The Team then evaluates the set of product concepts, and prioritizes them. Product definition and selection criteria may include such factors as the product performance-to- cost advantage over competitive products, market size or growth potential, stage of development and technical risks, and profit potential. Validation: In this phase, the objective is to screen and evaluate the product concepts to identify the most promising, while expending the minimum time and resources. The product/market concept is reconfirmed, and the teams then undertake both a functional and a strategic assessment of the selected product/market concepts. The components of the functional assessment include: 5 technology; legal; marketing; financial; organizational; and manufacturing/operations. Each of these assessments are made by answering a set of key questions on two dimensions, representing the potential (or size of the opportunity) and development (representing the extent stage of development). The functional assessments can be scored quantitatively. The strategic assessments include standard tools such as industry mapping, SWOT analysis, utility analysis, Five Forces, and Value Chain Analysis. It should be noted that teams are initially searching for fatal flaws in the product/market concepts. These so-called 'flaws' are factors that make the product concept less desirable in the context of the team objectives. A typical flaw might simply be that the stage of technical development is too early for the team to carry the concept forward. If a flaw is identified, the concept is returned to a technology pool database. Feedback is provided to the technologist, which he/she often finds extremely useful. The assessments also lead directly to a prioritization of information that needs to be gathered. At the end of this, and every other phase, there is a formal decision point for each product/market concept. Teams typically carry two technologies (3-5 product/market concepts) into Validation and one technology (2-3 product/market concepts) into Phase 2. Justification: The objective of Justification is to build the case for commercialization. This phase has the same format as the Validation phase, but differs in a couple of important respects. First, each of the assessments now includes significantly greater detail. For example, the functional assessments can include as many as 50 research questions, 3-4 times as many as in the previous phase. More importantly, the process is transitioning from validating product/market concepts to justifying business proposition. Whereas in the previous stage we were scoring multiple product/market concepts, in this phase we are justifying the business case for the most promising. The functional assessments provide the structural framework for information gathering in a prioritized manner. In addition, the process is iterative. When flaws or deficiencies are discovered, the Teams may redefine the product/market concept and revisit the assessments. At this point, the Teams are interacting regularly with the customer markets, potential competitors and industry thought leaders as they justify their assumptions about the viability of their projects. Commercialization - Strategy and Implementation: The objective of the Commercialization: Strategy and Implementation phase is to finalize the business case based on the information that has been gathered and decisions that have been made in the previous phases. Optimal strategic decisions are critical at this stage of the project, and the Algorithm guides the development of a commercialization strategy by providing structure, and tools to aid decision making. This phase culminates with the development of a business proposal, which is viewed as a “selling document” for an early-stage startup business. The business proposal includes a detailed implementation plan that is used to acquire the critical resources needed (e.g., entrepreneurial talent and seed capital) to go forward. The proposal can be used to fashion grant proposals for product development funds, secure angel investors, align managerial talent, and negotiate licensing arrangements. The technology source organization can use the business proposal and supporting documentation to evaluate the commercialization options and, if the Team intends to pursue a new venture, to structure a licensing agreement in keeping with the knowledge of the particular product/market. If the Team decides not to implement the venture plan, the host organization can use the resulting information for other licensing opportunities. 6 Class Impact The algorithm used in this course has a long history and proven track record of success. Since 1995, the TEC Program has helped its clients raise nearly $400 million in venture capital, which has resulted in more than 500 new jobs created. Over 500 students and industry experts have participated in the program, which has produced numerous CEOs, CFOs, Founders, and senior managers responsible for Product and Project Management, among other senior leader positions. The last three years at Ohio State, a graduating TEC team has won the 2007, 2008, 2009 and 2010 Fisher Business Plan Competition and finished in the prestigious Materials Research Society’s Entrepreneurship Challenge, Fortune Small Business Business Plan Competition and the Annual Rice Business Plan Competition. As noted, however, many graduates go on to substantial positions in major corporations, universities and research institutions. Some of the career paths for which the TEC program prepares students are listed below. High-Tech Start Up Large R&D Intensive Venture Capital Companies Corporations Firms Founders Corporate Venturing and Investment/Limited Strategic Renewal Partners Senior Executives R&D Management Venture General Partners/Associates Business Development Strategic Technology Industry/Research Professionals Management Analysts Strategic Alliance/Joint IP Strategy/Management Portfolio Firm Venture Managers Managers Technology/Innovation New Business Marketing Professionals Development Student Responsibilities Students participate in the class as an educational exercise. However, students have certain responsibilities to the Client organizations who supply the technologies. The work undertaken for the clients is for the sole benefit of the Client. You as a student do not own the technologies, product ideas, evaluations, business proposals, or business plans. All reports, information gathered, analysis completed, and other work produced in connection with the class is the property of the Client and must be kept confidential and may not be used by you or other students or transmitted for use by students or anyone else for any reason without prior written consent of the Client. Students are required to sign a non-disclosure agreement to abide by these conditions in order to participate in and as a requirement to continue in this course. 7 Structure TEC Teams are comprised of graduate-level students from various disciplines, with particular attention to science and technology and business. Each TEC Team includes 2-3 Executive Mentors to guide the teams through the commercialization process. The Mentors are particularly experienced; they include experienced entrepreneurs, accomplished business executives, commercialization experts, and angel/venture capitalists. The course consists of weekly class meetings and team meetings scheduled as necessary. The weekly class meets on Thursdays from 6:00 - 9:48 p.m. TEC Team meeting times are to be arranged by the teams and Executive Mentors. The first part of each class is separated into three sections: content lectures, guest lecturers, and case studies / illustrative examples. The second half of each class session consists of team meetings, which include the students and their Executive Mentors. The Executive Mentors may or may not attend the team meetings at other times in the week. Each team is given access to a portfolio of technologies. The technologies are “live” and are technologies the client is actively marketing for their commercialization potential on behalf of the inventors and the university/client. The technologies are grouped as best is possible in similar areas. There is also a pool of other technologies that have not been assigned a particular team and are available to teams in the event the assigned portfolio is not sufficient to move forward with the team project. Assessing the commercial new venture potential of emerging technologies can be a complex process. The TEC course operates on a strict project management model. In addition to learning the commercialization process, students will learn critical tasks and techniques in managing complex projects. In addition, we will be working with Team Dynamix which will oversee the web platform and the project management system. Assignments and Evaluation For this course, final grades are determined by participation and contribution to the TEC Team. The team participation evaluation will be used, in part, to determine each student’s final grade. During this course, the commercialization Teams focus on one technology that shows significant commercial potential. The specific Team activities will include the following. Detailed Product Market Description Complete Strategic and Functional Assessment Written Analysis of Voice of Customer Plan, Concept Test and Expert Review Detailed Business Model (with Value Proposition) Financial Model and Capital Access Plan Market Entry Strategy and Implementation Plan Draft Business Plan for your Team's proposed technology venture Oral presentation to qualified angel and venture capital investors 8 TEC Team Deliverables (85%) Innovation Charter, Documentation and Organization 5% Ideation Report and Presentation 15% Validation Presentation 25% Validation Report 25% TEC Reports (1 per technology) 15% Each TEC Team will complete a series of worksheets in the process of evaluating its pool of technologies. The worksheets, tools, research instruments, etc. will be available on the Project Management site. The faculty and the team’s Executives will monitor the team’s progress on a weekly basis throughout the quarter. As such, the materials must be kept up to date at all times. Each week the team is expected to bring copies or provide electronic access to any deliverables due that week for the Executives to review. The final materials are evaluated by the TEC Team’s Executive Mentors and the course faculty at the end of the quarter and are the major source of the team grade. The materials will be evaluated on technical correctness, completeness, as well as the amount, and quality of work. Particular attention is paid to the decision-making of the team. Individual Contribution (15%) Team Evaluation 10% Mentor Evaluation 5% Individual contribution will be turned into the instructor, not the Executive Mentors. A portion of the individual grade will be assigned as a result of each student’s contribution as determined by team evaluations. In addition, attendance is mandatory and class contribution is expected. For this class, a student’s contribution will be determined by: regular attendance at class and team meetings; timely completion of assigned work, including the self assessment; contribution to class discussion (direct and indirect) and the team meetings; team evaluations of each team member’s contribution; and. Mentor evaluations of each team member’s contribution. Course Materials No text books are required for this class. However, there is a readings packet that is required. The instructor will provide access information for purchasing the readings packet. Readings are assigned weekly and will be discussed in class. Students are expected to have read the assigned materials and be ready to participate in class discussion. In addition, there are a variety of (optional) text books that students may find useful as supplemental resources. 9 The Indus Entrepreneurs, Pugh, D. (ed.), The First Mile: Essentials of Entrepreneurship, 2003, Wiley Publishing, Inc., Indianapolis, IN. Allen, K.R., Bringing New Technology to Market, 2003, Prentice Hall: Upper Saddle River, NJ. Tang, K., Vohora, A. and Freeman, R. (eds.), Taking Research to Market: How to Build and Invest in Successful University Spinouts, 2004, Euromoney Books: London. Dorf, R. C. and Byers, T., Technology Ventures: From Idea to Enterprise, 2005; McGraw-Hill: New York. All other course materials will be made available in class, on the project management website and/or on Carmen. Additionally, lecture materials and notes from guest lectures will typically, but not always, be posted or emailed for your convenience by 5 p.m. on the Friday following the Thursday lecture (assuming no technical difficulties). Team Commitment As with any graduate level course, students are required to meet with the class and with their teams each Thursday night during the quarter. Other meetings may be necessary, but when and how often teams meet is at the discretion of the team. It is also often necessary to occasionally meet with other people necessary to complete the commercialization project. Finally, team members contribute to the team effort through their individual contributions made each week. Office Hours Formal office hours for the faculty are from 3:30 – 5:30 p.m. on Thursdays or by appointment. Special meetings with the instructor and Executive Mentors can be made by appointment as well. If you have questions, it is recommended that you deal with them as follows: simple procedural questions – i.e. regarding deliverables, dates, processes, etc. – ask the instructor(s) at the beginning or end of class; academic questions – i.e., regarding course content or grades – ask the instructor(s) in class, call or email the instructor(s), or stop in during office hours; and team conflicts – set up a meeting with the instructor(s) and/or the Executive Mentors. Course Schedule Week Topic Assignments Sept. 23 Course Introduction FINAL Due: Student Background Forms (Review Design and Expectations) Student NDAs Student and Mentor Introductions READING 1: Sarasvarthy’s, “Effectuation” 2: Allen’s, “Commercialization” Introduction to Technology REVIEW: Technology Portfolios Commercialization Next Week’s Assignments 10 Review Course Syllabus and Materials Introduce and Review the TEC Algorithm Project Management: Tools and Each student is expected to log on to the Team Expectations Dynamix Project Management Web Platform after Guest Lecturer: Andrew Graf, Team instructions are delivered by Monday, September Dynamix 27th by 5:00 p.m. Sept. 30 Risk Management and Tools FINAL Due: Team Innovation Charter Team Configuration Client Contact Established Introduction to Risk Management and Tools READING 1: Porter’s, “Value Chain Analysis” Co-Lecturer: Brian Abraham, COO, REVIEW Next Week’s Assignments Groveland Capital Week Topic Assignments Technology Licensing Insights: Team Guests: Ohio State and Others Oct. 7 Product/Market Ideation and FINAL Due: Technology Descriptions Opportunity Recognition Client/Technologist Initial Meeting Introduction to Social Constructivism DRAFT Due: TEC Screening Report (#1) Introduction to Opportunity Recognition READING 1: Barron’s, “Opportunity Recognition” Review Ideation Techniques: Modified RETURN One Technology to the General Pool Nominal Group Technique REVIEW Next Week’s Assignments Video: Dewitt Jones, “Creativity” Oct. 14 Value-Guided Market Intelligence and FINAL Due: TEC Screening Report (#1) Industry Analysis Gathering Market Intelligence DRAFT Due: Product Attributes Worksheet TPM Worksheet Market Description Worksheet Introduction to Voice of Customer/Expert READING 1: Barton et. al’s, “Imaginative Understanding of User Needs” REVIEW Next Week’s Assignments Guest Lecturer: Traycer Diagnostics, Lee Mosbacker and Brad Beasecker Oct. 21 Value Proposition and Product/Market FINAL Due: Team Presentations: Value Selection Proposition Pitch Product Attributes Worksheet PAMM Market Description Worksheet Introduction to Value Proposition DRAFT Due: Preliminary Market Assessment Summary TPM Value Proposition Statement TEC Screening Report (#2) 11 Review Requirements for Ideation READING 1: Anderson et. al’s, “Customer Value Presentations Propositions” READING 2: Kim and Mauborgne’s, “Creating New Market Space” REVIEW Next Week’s Assignment Oct. 28 TEAM IDEATION PRESENTATIONS FINAL Due: Team Ideation Presentations AMD REPORTS Team Evaluations Introduction to Concept Testing READING 1: “Concept Testing” and Examples REVIEW Next Week’s Assignments Week Topic Assignments Nov. 3 Strategic and Functional Assessments: FINAL Due: Team Reconfiguration Financial Considerations TEC Screening Report (#2) Review Functional Assessments DRAFT Due: Initial Functional Assessments Phase 1 Report (Technology 3) – Client Executive Summary Review Financial Planning READING 1: Byers et. al’s, “The Financial Plan” READING 2: Financial Planning Tool Review Voice of Customer/Expert Plan REVIEW: Financial Planning Tool Next Week’s Assignments Guest Lecturer: Larry Mead Nov. 11 Business Models DRAFT Due: Initial Functional Assessments Concept Summaries and Discussion Guides Review Business Models READING 1: Chesbrough’s, “The Role of the Business Model” REVIEW Next Week’s Assignments Co-Lecturer: Brian Abraham Nov. 18 Strategic and Functional Assessments: FINAL Due: Functional & Strategic Assessments Marketing and Management TEC Screening Report (#3) Review Go-to-Market Strategies DRAFT Due: Financial Model and Breakeven Analysis Review Team Selection Strategies READING 1: Kim and Mauborgne’s, “Knowing a Winning Business Idea” READING 2: Baxter et. al’s, “Selection of a Management Team” REVIEW Next Week’s Assignments Video Presentation: Dr. Robert Langer 12 “Commercializing Medical Technologies” Nov. 25 THANKSGIVING HOLIDAY No Class Dec. 2 Functional Assessments: Technology FINAL Due: Financial Model. Pro Forma Licensing and Implementation Plan Statements and Breakeven Analysis Prioritized List of TPM All Technology Documentation Review Technology Licensing REVIEW Next Week’s Assignment Review Requirements and Expectations for Validation Presentations Guest Lecturer: Diane Dobrea, Owens Corning Week Topic Assignments Dec. 9 VALIDATION REPORTS AND FINAL Due: Validation Presentations and Reports PRESENTATIONS Final Team Evaluation Review Final Client Communication REVIEW Next Quarter’s Expectations Class SOCIAL – BW3s on Lane Avenue Role of the Students As a student, your role will be to develop high quality commercial evaluations of technologies and business strategies in a professional manner. In the class you will learn the basic tools of technology commercialization. With the support of team Executives, you will learn how to apply the tools to actual cases. Students, like professionals, have multiple responsibilities. You have responsibilities to your clients, fellow team members, and to the class. You will be expected to give your best effort to every project you are assigned. You are expected to carry your fair share of the work in the team. You are also expected to conduct yourself with integrity and professionalism. Relationship with Client Once the projects have been determined for the team, the students will be responsible for the relationship between Team and Client. They may delegate regular contact to a particular member. The students are responsible for establishing a working relationship with the Client immediately after receiving the technology portfolio. Students should set regular scheduled meetings and time frames for the Client and ensure that the Client receives a copy of the results of the work done by the Team. Clients should be an active part of the team. They should receive a letter of contact from the team at the beginning of the project welcoming them into the class, setting expectations, and providing information about how to work with the team. Finally, the team is required to issue a final letter, technology summary and executive report to the 13 Client by the end of the first full week following the end of the course. This final communication with the Client is extremely important and must be designed to ensure closure in a positive manner so that the Client is satisfied with the contributions made by the team to Client’s company, and with the conclusions reached. Role of the Executive Mentors The Executive Mentors are integral members of the program. Their role is to mentor teams as they grapple with the challenges of commercializing 'real world' technologies. Their primary responsibilities are to ensure that the team is making appropriate business decisions and functioning efficiently and timely, and evaluating their output. TEC Mentors DO NOT do the work of the TEC team. Given that the TEC teams are student led, executives are expected to 1) meet with the team regularly (during class time) to review process issues, timelines and milestones, 2) provide overall direction to the team regarding project management and overcoming specific hurdles, and 3) guide the team through specific issues directly related to his/her skills and experiences. Schedule and Other Commitments The TEC course meets every Thursday from 6:00 to 9:48 p.m. during the fall quarter. Executives are expected to regularly attend the Thursday sessions and to meet with their teams and to provide the necessary guidance and assess the team's progress. Periodically, the Mentor will be asked to meet with their student team outside of class, typically around the time of mid-term and final presentations. This is not required and the executive has discretion as to whether they will or will not attend out of class meetings of the teams. Additionally, executives must sign a non-disclosure agreement, protecting the IP rights of any and all technologies evaluated in the program. Relationship with Client Once the projects have been determined for the team, the students will be responsible for the relationship between the team and the Client. They may delegate regular contact to a particular member. The Executives should regularly monitor the team’s communication with and response to the Client. If necessary, the Executive can help form a working relationship between the students and the Client. Teams should set expectations in the Client’s mind about their commitments, depth of work, and time frames. Finally, teams should be sure that the Client receives a copy of the results of the work completed. Following up on Assignments Most teams struggle with completing assignments. Experience shows that students have difficulty policing other students. Therefore, the Executives will pay particular attention to the timely completion of assigned tasks. Tracking Student Contributions A significant percent of the grade for each student depends on his or her individual level of contribution. This requires the Executives to make individual contribution assessments. This assessment is done in the Executive Team Meeting by simply noting 14 who is completing assignments and who is not. The Executives are asked to also note the quality of each team member’s contribution. Evaluation Individual contributions count for a significant portion of the student grade, and this depends on the quantity and quality of completed assignments. Students will often engage in “extra role” behavior that should be part of the assessment. Extra role behavior includes both negative and positive actions and attitudes that affect the Team’s performance. Executives will evaluate each team member’s contribution twice throughout the quarter. Project performance makes up a large portion of the grade. All students on the team receive the same Project grade. The Technology Commercialization materials are the primary source of evaluation for the project. All the team’s activities and deliverables, including presentations, reports, Client communications, contact logs, worksheets, and reference materials are kept up to date on the project web site. Decision Making When considering whether or not to continue working on a particular technology, a formal decision meeting must be held. This helps the team arrive at a decision in a systematic and disciplined manner. Academic Misconduct The Ohio State University Graduate School expects all student to have read both the University's code of student conduct and code of academic conduct. You can view these documents or download them at http://studentaffairs.osu.edu/resource_csc.asp and http://www.gradsch.osu.edu/Content.aspx?Content=10&itemid=1. Under these terms, the graduate school expects all students to uphold the honor code. All students taking courses in the Fisher College of Business are expected to abide by the Fisher College honor code. It reads as follows: As a member of the Fisher College of Business Community, I am personally committed to the highest standards of behavior. Honesty and integrity are the foundations from which I will measure my actions. I will hold myself accountable to adhere to those standards. As a future leader in the community and business environment, I pledge to live by these principles and celebrate those who share these ideals. While most students have high standards and behave honorably, like every academic institution we encounter cases of academic misconduct. It is the obligation of students and faculty to report suspected cases of academic and student misconduct. Students can report suspected violations of academic integrity or student misconduct to the faculty leaders of this course or to the Dean of the Fisher College of Business. All reported cases of academic misconduct are actively pursued and confidentiality is maintained. 15
"Technology Entrepreneurship Commercialization"