I-Corps Sites: Type I - Texas Tech University I-Corps Site for Innovation and Entrepreneurship

Texas Tech University, Lubbock TX

Investigators

Abstract

The Texas Tech University (TTU), through a National Science Foundation I-Corps Site (Site) award, promotes the growth of innovative ideas into commercially viable products in the South Plains of Texas and Eastern New Mexico. 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 TTU Site promotes, encourages, mentors, and catalyzes the translation of research with commercial potential. Focus areas include healthcare, natural resources such as food, fiber, and energy, including cybersecurity, which are all major components of the local economy. The TTU Site accelerates successful licensing and business formation of productized technologies. The TTU Site grows the existing ecosystem by also offering entrepreneurial curricula to students, faculty and the community while deepening the awareness of commercialization practices through the Business Model Canvas and Lean Startup methodologies. Finally, the TTU Site strengthens innovation locally, regionally, and in collaboration with the national NSF I-Corps network to grow the quality and quantity of teams in the pursuit of commercialization, validation, and startup creation. The TTU Mentors program supplies the teams with qualified and motivated mentors to assist in a broad range of business activities, including: marketing, intellectual property law, sales, product development, accounting, finance, and human resources. The TTU Site benefits the local and state economies through the economic development gains achieved by students, faculty and the community as they start new businesses. In addition, TTU serves a large and growing Hispanic population (approx. 27% of the student body), as well as many veterans. This award reflects NSF's statutory mission and has been deemed worthy of support through evaluation using the Foundation's intellectual merit and broader impacts review criteria.