Type I: University of Arkansas I-Corps Commercialization STEP (STEM Training in Entrepreneurship Practices)

University Of Arkansas, Fayetteville AR

Investigators

Abstract

This project, at the University of Arkansas (UA), creates an I-Corps Site at this institution that involves participants from three UA campuses. 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. The University of Arkansas I-Corps Site, STEP (STEAM Training in Entrepreneurial Practices), builds on university activities and programs that accelerate the commercialization of research by faculty and students. In addition, several UA Research Centers and Research Experience for Undergraduates (REU) Sites will involve affiliated faculty and students in STEP, a 10-week summer program that is divided into two phases. Phase I, with 15 teams, will focus on instruction in lean startup principles and initial customer discovery interviews. Phase II, with eight teams that receive additional funding, will further develop the most promising business ideas from Phase I. The STEP site will include undergraduate and graduate student teams and faculty from three UA System campuses: the University of Arkansas (UA), the University of Arkansas for Medical Sciences (UAMS), and the University of Arkansas Little Rock (UALR). Although the state of Arkansas has made progress in the development of high-growth businesses based on university research outcomes over the past decade, Arkansas continues to be one of the most economically challenged states in the country. The STEP Site encourages researchers to expand their horizons beyond the research they are doing in their labs and consider how the commercialization of their inventions might help promote economic development in the state. In addition to the broader impact of economic development, the STEP Site enables the university to continue its efforts to improve entrepreneurial education for females and underrepresented populations. The university's successful programs for underrepresented high school through graduate students provide a base upon which to build these efforts.