The WPI Innovation and Entrepreneurship Ecosystem
Presentation for:
Assn of New England Business Deans
Henry Fitzgerald
School of Business
Dean’s Council
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Who am I?
Henry Fitzgerald
•B.S. Mechanical Engineering from WPI in 1975
•Currently the Principal Owner of First Stop Program Management
•Previously, Vice President of Facilities Operations, Genzyme Corp.
•Elected Selectman for the Town of Shrewsbury
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Why am I here?
Because I:
• Played golf with Mark Rice at the WPI Reunion Golf Tournament in 2010;
•
Joined the Dean’s Council of Strategic Advisers as founding member in 2011;
• Agreed to serve as an Team Captain for the Tech Advisers Network in 2012; and
• Have recently been elected to the WPI Board of Trustees.
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Agenda
WPI Innovation and Entrepreneurship Ecosystem
Role of the Tech Advisers Network (TAN)
Potential for expanding the Tech Advisers Network
i.e. TOR2 Program (IncubaTOR / AcceleraTOR).
Case study: VitaThreads Program
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WPI & UMass Medical:
Students / Faculty / Staff
/ Alumni
Entrepreneurs spinning out
from other enterprises.
Clean Tech Fellows
Key:
• GREEN: The element is already in place.
• YELLOW: Some initial progress but more
work lies ahead to make this element real.
• BLUE: Blue sky idea; no reality yet.
Dean’s Council of
Strategic Advisers
WPI Innovators
of the Year
Entrepreneurial
Talent
New
Ventures
WPI Senior
Leaders and
Trustees
Entrepreneurship
Champions
WPI University-Based
Innovation and
Entrepreneurship
Ecosystem
WPI Engineers and
Scientists
WPI Venture
Forum
Entrepreneurship
Support Systems
Technology
Transfer
CEI Education
Programs
The Mentor
Network
TheTech
Advisers
Network
New
Knowledge
UMass Medical
Scientists
© 2012 Mark P. Rice
The TOR2 Program
(IncubaTOR / AcceleraTOR)
THE WPI / CENTRAL
MASS COMMUNITY
THE TOR2 PROGRAM
(IncubaTOR / AcceleraTOR)
Inputs to the TOR2 Program
• Knowhow network (,e.g.,
service providers)
 Risk capital
 Education, training and
information programs
 Talent: Entrepreneurs,
Engineers, Scientists
 TOR2 sponsors and champions:
WPI senior leaders; DCSA
members; WPI Innovators of
the Year; business and
economic development leaders
 Intellectual Property /
Technology from WPI and
UMass Medical
Inputs to WPI Ventures
WPI
Ventures
Tech Advisers
Network
WPI
Ventures
 Fast-growing “super-star
companies
 The WPI investor
network
WPI
Ventures
 Strong small and micro
businesses
 Education, training
and information
programs
WPI
Ventures
 Shared business
services
WPI
Ventures
 Flexible lease
space
WPI
Ventures
THE WPI / CENTRAL
MASS COMMUNITY
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Outputs from the TOR
Program to the community
 Talent pool of
entrepreneurs
 Source of spin-off
companies
 Jobs
© 2012 Mark P. Rice
Case Study: VitaThreads
Business Opportunity: Improved targeted cell therapy via
bioresorbable fibrin microthreads – a unique suture
In general, the most important benefits an incubator provides to its
entrepreneurs are “advising” and “networking to external resources.”
Benefits to the VitaThreads team
 Validate that Product had Merit
 Protecting their IP – You Talk too Much!
 Path to Commercialization and Business Partners
 Evaluation of Business Plan and Leadership
Benefits to the members of the Tech Advisers Network
 Potential Stream of New Ventures
 Potential for Economic Development & Generation of Wealth
 Potential Game Changer for Area and WPI
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