I-Corps Sites: Ohio State University

Ohio State University, The, Columbus OH

Investigators

Abstract

This project creates an I-Corps Site at the Technology Entrepreneurship and Commercialization Institute (TEC) at Ohio State (OSU). 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. TEC at OSU has a track record in commercializing university technologies and training STEM and business students and is the primary market intelligence and business modeling entity, working with the Office of Research and the Technology Commercialization Office and partnering with more than a dozen colleges, department, research centers, and funded programs across campus. TEC has trained more than 500 graduate students and more than 40 research faculty using the Lean Startup curriculum, generating 27 new ventures that raised more than $40 million. TEC recently established a new initiative to support technology commercialization ? the Faculty Certification Program in Technology Entrepreneurship and Commercialization. This certification program uses an innovative pedagogy to train research faculty and their startup teams in the principles and techniques of commercialization via startup. The combined impact of the TEC Institute?s I-Corps@Ohio program and the new Faculty Certification Program is important for Central Ohio and across the state. The specific impact of the NSF I-Corps Sites funding is realized in: 1) An increase in the number of Ohio State teams that participate in the training program, 2) A greater number of STEM graduate students that matriculate to entrepreneurial leads in technology startups, and 3) More new technology startups that raise capital and launch in Ohio. Secondary outcomes that provide broad impacts are: 1) An increase in the number of inventions resulting from federally-funded research that are screened for commercial potential, 2) More new products and services providing innovative solutions to problems in healthcare, environmental sustainability, national security, food safety, etc., and 3) Greater return on innovation investment for Ohio State. As successful ventures make their way to market, an additional outcome with big market impact is the number of research scientists that seek out training in advanced principles for commercialization because they recognize commercial markets on par with federal and state grants for career advancement and sustained funding for technology development.