Liz Kisenwether – Penn State University Howard Berkof – ASME

1. Innovation Showcase (I-Show) Update ASME Summer Annual Meeting Liz Kisenwether – Penn State University Howard Berkof – ASME

2. Engineering Entrepreneurship & Innovation Initiative Purpose: • House, promote, manage, and sequence engineering entrepreneurship activities • Engineers in workforce, college students and K-12 • Identify and address gaps wherever they exist • Connect component parts of engineering entrepreneurship development systems • Lead other engineering associations to be involved in entrepreneurship and innovation

3. Center for Engineering Entrepreneurship & Innovation (CEEI) Vision To promote engineering entrepreneurship and innovation as both a critical ingredient to U.S. competitiveness and as a solution for the shrinking workforce pipeline. Provide engineers with the skills and vision to be the innovation leaders of the 21st century Mission Build upon ASME’s 125-year history of engineering excellence to foster engineering innovation, entrepreneurship, global competitiveness and technology-based economic development

4. Steering Committee Chairman • John Ahlen, Ph.D., President Arkansas Science & Technology Authority • Chris Przirembel, Ph.D., Vice President for Research and Economic Development Clemson University, International Center for Automotive Research • Julio Guerrero, Senior Research Scientist, Schlumberger-Doll Research • Loretta McHugh, Quality Engineer, Henke Sass Wolf of America, Inc. • Andrew J. Sherman, Esq., Partner, Dickstein Shapiro LLP Founder: Grow Fast Grow Right, LLC • Phillip J. Weilerstein, Executive Director, National Collegiate Inventors and Innovators Alliance • Steven P. Nichols, Ph.D., Associate Vice President for Research, University of Texas at Austin Founder: Idea2Product Competition • Capers McDonald, Entrepreneur in Residence, Johns Hopkins University • Richard Bendis, President & CEO, True Product ID • Elizabeth Kisenwether, Assistant Professor, Director of Engineering Entrepreneurship Minor, Penn State University • J. Reese Meisinger, Managing Director, Strategic Initiatives, ASME

5. Goals of CEEI • Promote engineering entrepreneurship and innovation • Link entrepreneurial and innovative behavior to educational and career pathways • Catalyze training, education, and on-going access to competency programs • Provide both knowledge content and access to resources • Enhance the engineering profession while serving our nation’s competitive needs

6. Key CEEI Activities – 2006/2007 • Engineering Entrepreneurship & Innovation Forum at IMECE 2006 & 2007 • Developed an Innovation & Intrapreneurship course for the Science, Engineering, and Technology community • Initiated an Innovation Benchmarking study with APQC and IBM • Placed an Engineering Entrepreneur Fellow at the Department of Labor • Created and kicked-off the Innovation Showcase (I-Show): A technology commercialization competition

7. http://www.asme.org/events/ishow

8. Vision / Mission Vision To be the premier nation-wide technology entrepreneurship showcase event to inspire engineers and future engineers to be product and corporate innovators. Mission Collaborate with existing entrepreneurship and corporate innovation organizations to provide services and support so engineers can move their ideas into world-class products and ventures.

9. Overview • First I-Show: ASME Congress/Seattle, Friday Nov 9, 2007 • Competition for collegiate teams to display and present their technological innovations to an audience • Judges decide the best and most feasible ideas • Winners receive seed funding and additional product and start-up support • Team support: • Mentors / coaches: Entrepreneurs, Angels, Venture Capitalists, Technology Experts • Attend NCIIA’s Invention to Venture (I2V) workshops • Collaborating Organizations: • National Collegiate Inventors & Innovators Alliance (NCIIA) • Idea to Product (I2P®) - U of Texas at Austin

10. Judging Criteria • Describe the problem to be solved • Define the Product / Service idea and how it solves the problem • Describe the key technology, intellectual property & IP plans • Prototype – Proof of Principle • Competitive analysis and competitive advantage 6. Who are the early buyers (early adopters / visionaries), and the later buyers / users (pragmatists) who only buy > 1 year? 7. Financials: How will the product make money?

11. Support for I-Show Teams Mentors – Provide advice and guidance in areas of entrepreneurship, manufacturing, financing and budgeting, management; help link the teams into their local economic development support system. • ASME member network • Corporate sponsors • NCIIA network • Regional Economic Dev. Boards • Seed venture funds • Entrepreneurship networks • University alumni networks Intellectual Property (IP) – I-Show teams get counseling on IP; what it is, how to protect it, and how to make IP a key part of the business model success. • IP law firms • ASME member network

12. Development Plan Stage I: Collegiate Competition • November 2007 ASME Congress - Seattle • June 2008 ASME Annual Meeting - Orlando Stage II: Collegiate & Professional Competition • June 2009 ASME Annual Meeting Stage III: National Student & Professional Competition • 2010 – 2014 (4) Regional Competitions & ASME Annual Meeting • New Track: Specific industry technology challenge, such as energy, water, or aerospace. These challenges will reflect the current world trends and needs. Stage IV: National Collegiate, Professional & High School Competition • 2015 + (6) Regional Competitions & ASME Annual Meeting

13. http://www.invention2venture.org

14. I-Show Update • February – March 2007: Student teams recruited to submit one-page product/service summaries; 13 entries. • April 24: Top 10 teams selected (next slide) • April - June: • Help develop local mentor network for all teams • Ensure student teams attend NCIIA I2V Workshop (1 day) or Advanced I2V Workshop (3 day) before Sept. 2007. • Sept. 21 – all teams submit 5 page Product/Service Plan

15. NanoTaxi – UT-Austin Plastic Mesocumbustors – Wash. State Retractable Hydrofoil Kits – Wash. State Portia-Eye: Microchannel Heat Sinks – Oregon St. Sleep Sound – Uni. of Idaho First-Incident Response Equipment –Texas A&M Hubless Windmill – St. Louis Uni. Diabetic Foot Monitoring Device – Rensselaer Polytech Greensulate – Rensselaer Polytech i-conserve – Penn State 2007 I-Show Teams

16. I-Show Update, con’t I-Show Judging on Friday, Nov. 9: • Judges convene for 1 hour to review & discuss Product/Service Plans [60 minutes]; student teams at their I-Show booths • Each team does 7 minute “pitch” presentation + 2 minute Q&A. [100 minutes] • Judges visit teams’ booths; see prototypes, ask final questions [20 minutes] • Judges deliberate for up to 1 hour [60 minutes]; teams still at booths for public interaction • Award presentations to top 3 teams:

17. Other Key I-Show Events at Congress • Saturday Nov. 10: NCIIA Invention-to-Venture (I2V) Workshop • Sunday Nov. 11: Early Career Forum & Student Design Competition • Monday Nov. 12: Early Career Development Symposium

18. I-Show 2008 at GAM (Orlando) • Short time window! • Already recruiting teams; one-page summaries due Dec. 2007. • I-Show website with latest information • June competition captures Spring 2008 semester teams • Solid publicity channels through NCIIA, ASEE

19. Questions and Discussion Liz Kisenwether exk13@psu.edu Howard Berkof hberkof@mba2007.hbs.edu Thank You!