I-Corps Sites: University of Pittsburgh - Advancing Innovation, Entrepreneurship and Opportunity Commercialization

University Of Pittsburgh, Pittsburgh PA

Investigators

Abstract

This is a project that creates an I-Corps Site at the University of Pittsburgh. NSF Innovation Corps (I-Corps) Sites are NSF-funded entities established at universities whose purpose is to nurture and support multiple, local teams to transition their technology concepts into the marketplace. Sites provide infrastructure, advice, resources, networking opportunities, training and modest funding to enable groups to transition their work into the marketplace or into becoming I-Corps Team applicants. I-Corps Sites also strengthen innovation locally and regionally and contribute to the National Innovation Network of mentors, researchers, entrepreneurs and investors. This project aims to further Pitt's entrepreneurial competencies by creating an I-Corps site directed through the University of Pittsburgh Innovation Institute. This award builds on University efforts to instill innovation and entrepreneurship across the entire organization. The main objectives of Pitt I-Corps include the following: -Increase the number of entrepreneurial minded individuals by education, training and outreach to disciplines and individuals underrepresented in current commercialization processes; -Enhance a recently deployed commercialization process focused on supplementing viable innovations from the laboratory with key steps required to move them to the market; and -Improve connection to the regional entrepreneurial ecosystem for enhanced integration of Pitt opportunities into the local early-stage environment and similar networks beyond Pittsburgh. Pitt Ventures is a new multi-step program that was created in the Innovation Institute to provide an experiential learning program enhancing the rate of commercial outcomes of Pitt discoveries. It is a lean launchpad engaging faculty, students, and local mentors in idea discovery and entrepreneurship as a means of turning concepts into products. Through support provided in an I-Corps program, Pitt Ventures will be enhanced through a focus on disciplines and individuals that have been underrepresented in current innovation activities. With this outreach, the breadth of commercialized University innovations will be increased as its pipeline will contain a more diversified set of opportunities from a broader group of individuals. Given Pitt's collection of resources and opportunities, Pitt I-Corps will play an important role in strengthening the entrepreneurial ecosystem in the Mid-West by providing more inventions for the region to work on. Through enhanced engagement with this network, the University will be better positioned to utilize the set of capabilities resident in the region that can help to convert Pitt ideas to marketed products. As such, the proposed I-Corps effort will aid the University in more effectively converting intellectual value conceived by its innovators into economic value realized through commercialization. The end result is more new job creation, increased local investment, enhanced economic growth and more products benefiting society reaching the market.