Creating an Entrepreneurial Culture in a Rural Setting

Michigan Technological University, Houghton MI

Investigators

Abstract

0438528 Reed This award is to the Michigan Technological University to support the activity described below for 36 months. The proposal was submitted in response to the Partnerships for Innovation Program Solicitation (NSF-04556). Partners The partners include Michigan Technological University (Lead Institution), Michigan Tech Enterprise Corporation; Knowledge Sharing Systems, Inc. the Cities of Houghton and Hancock, Michigan, Finlandia University, and the Michigan Economic Development Corporation. The primary objective is to create a rural entrepreneurial culture that captures the economic and social benefits of innovation. A three-pronged initiative will build on the existing infrastructure and on current endeavors to foster economic development by state and local governments and by Michigan Technological University. First, this project will offer an education component that adapts Michigan Technological Universitys highly regarded engineering Enterprise program to a new entrepreneurial Enterprise. This program will involve science, engineering, and business undergraduate students working as teams with real-world entrepreneurs to conduct and integrate technology and market assessments with business plan development for proposed or emerging potentially high-growth entrepreneurial industries. Second, this project will strengthen the interconnectedness and support among the local entrepreneurial community through networking and mentorship programs that develop linkages with the MTU community of faculty, staff, and students. Third, this project will support technology commercialization activities by increasing and improving access to university expertise, facilities, and equipment. Potential Economic Impact The intellectual merit of the project will result from creation of a thriving and vibrant entrepreneurial culture that creates and increases new wealth within the local and regional economies of Michigan's western Upper Peninsula, in Houghton County, Michigan. The broader impacts of the activity concentrate on providing the infrastructure for rural regions to participate in technology-based innovation, especially in regions that are underrepresented and underserved in the economy. This project will be replicable in similar rural settings across the United States.