In addition to an entrepreneurial curriculum, the program will provide participants with access to experts, coaching by successful entrepreneurs, contact with cutting-edge technology and support in forming companies and licensing ideas, according to a statement from the Austen BioInnovation Institute in Akron (ABIA).
The basis of the program will be two-person teams, which will be created by matching participants with interests in the biomedical or alternative energy industries with those pursuing Master’s of Business dministration degrees.
Each team will work during the spring semester on their projects by creating a business plan, exploring viability in the marketplace and completing the steps for a new technology venture to create a new business or licensable technology. The goal is to have a business launched or technology licensed within 18 to 24 months, according to the statement.
“The goal is to provide hands-on experience with the technology commercialization process in taking a great idea, exploring it in the real world and then moving forward to start and grow a company,” said Ravi Krovi, interim dean of the University of Akron’s College of Business Administration.
Funding for the program comes from a $1 million grant to the ABIA and University of Akron from the U.S. Department of Commerce. The grant came out of a federal competition designed to reward regional collaboration on innovation.
The project’s organizers hope to recruit 14 women to participate. An application is available at the ABIA’s website.