www.mtech.umd.edu
Developing a “Marketing High-Technology
Products and Innovations Course”:
First Year Review
James V. Green, Alyssa Cohen Sherman, & Vince Bellitti
Maryland Technology Enterprise Institute (Mtech)
A. James Clark School of Engineering
University of Maryland
March 2015
Maryland Technology Enterprise Institute · A. James Clark School of Engineering · University of Maryland
www.mtech.umd.edu
Undergraduate science and technology students have limited
understanding of the go-to-market strategies and tactics to
commercialize their new venture concepts.
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With grant support from NCIIA, a new course in
“Marketing High-Technology Products and Innovations”
is under development.
Aim to help University of Maryland students navigate this
challenge, and more importantly, to create a replicable
pedagogy for developing and managing an experiential
course in a technology marketing for entrepreneurs
This presentation highlights lessons learned from two (Fall ‘12 and Spring ’13)
of the three (Spring ‘14) NCIIA-funded offerings of this course.
Maryland Technology Enterprise Institute · A. James Clark School of Engineering · University of Maryland
www.mtech.umd.edu
Grant goals are to build students marketing skillsets
and to launch successful technology-based companies
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Improve students’ understanding of high-technology
market research principles, affordable design, and
technology innovation
Develop students’ skills to successfully commercialize
technology-based products and launch companies
Increase the number NCIIA E-Teams launching innovative
technology-based ventures at UM and other universities
This course will go beyond writing a marketing plan; and support students’
real life market-based activities to commercialize their ideas to serve society.
Maryland Technology Enterprise Institute · A. James Clark School of Engineering · University of Maryland
www.mtech.umd.edu
Items discussed and applied in the course are numerous,
and are taught with an experiential learning emphasis.
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Understanding customers
Market research methods
Societal, ethical, and
regulatory considerations
Product development and
management issues
Market orientation
Pricing considerations
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Distribution channels
and supply chain
management
Partnerships and
alliances
Relationship marketing
Advertising and
promotion
Sales strategies, to
include online marketing
and sales
Maryland Technology Enterprise Institute · A. James Clark School of Engineering · University of Maryland
www.mtech.umd.edu
NCIIA grant funding is focused on supporting student teams’
prototyping, materials and supplies, and equipment (75%).
Budget Item
Prototyping
Materials
and Supplies
Travel
Expenses
Equipment
Faculty
Stipend
Total
Year 1
Year 2
Year 3
Total
$ 4,000
$ 5,000
$ 5,000
$14,000
$ 4,500
$ 4,500
$ 4,500
$13,500
$ 2,000
$ 2,000
$ 2,000
$ 6,000
$ 2,600
$ 1,500
$ 1,500
$ 5,600
$ 5,000
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$ 5,000
$18,100
$13,000
$13,000
$44,100
Funding sources post-grant will include an alumni and friends seed fund
to support student venture creation via this course.
Maryland Technology Enterprise Institute · A. James Clark School of Engineering · University of Maryland
www.mtech.umd.edu
Deliverables and timeline for completion within the course,
to include parallel processes and rework.
Ideation
Go-to-Market
Strategy
Weeks 1-2
Weeks 2-5
Prototyping &
Testing
Test
Marketing
Launch /
Funding
Proposal
Realignment of Teams in Week 6
• Expect approximately 6 of 12 teams to advance
• Students not advancing on their original team
join an advancing team
Weeks 4-8
Rd. 1 Funding
Weeks 7-14
Weeks 13-15
Rd. 2 Funding
www.mtech.umd.edu
Lessons learned from the first offering of
the course in Fall ‘12
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Seniors can generate great ideas and
leverage their educational and work
experiences
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More faculty time to mentor teams is needed
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However, grad school and employment offers
derailed ventures for ALL of the concepts
developed in the fall course
Flipped classroom potential?
Seniors typically embraced opportunity to
abandon less promising concepts by mid
semester
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Preferred joining higher potential concept teams
Maryland Technology Enterprise Institute · A. James Clark School of Engineering · University of Maryland
www.mtech.umd.edu
Changes for the second offering resulted in an increase in
the quality of the concepts, and a dramatic improvement in
venture creation and survivability.
Fall 2012
Spring 2013
Students
Seniors
Juniors
Format
• 50% lectures
• 25% in-class teamwork
• 25% student presentations (6)
• 1 lecture for first class
• Flipped classroom with in-class
assignments for all classes
• Student presentations at
midway and final points (2)
Social
Impact
Brief introduction via 1 lecture
Detailed introduction with video
lectures and assigned readings
Venture
Creation
0% with 0 of 8 ventures active
78% with 7of 9 ventures active
(launch, patent filings, grant
and/or seed funding pending or
awarded)
Maryland Technology Enterprise Institute · A. James Clark School of Engineering · University of Maryland
www.mtech.umd.edu
Flipped classroom guided by multiple projects
involving in-class assignments
In-class Assignments
40%
• Core features and functions
• Key partnerships and alliances
• Market segmentation
• Plan for “Crossing the Chasm”
• The technology map & IP portfolio
• Supply chain & distribution channel
plan
• Pricing plan
• Advertising and promotion plan
In-class Assignments (con’t)
• Visual prototype development
• Test plan development
• Customer feedback analysis
• Functional prototype development
Events and Activities
5%
Marketing Plan
10%
Visual Prototype
5%
Final Deliverables
• Final Presentation
• NCIIA Funding Proposal
• Peer Evaluation
15%
15%
10%
www.mtech.umd.edu
Topic
1/29
1/31
Pre-Class Assignment
In-Class Assignment
 Read: Chapters 1 & 2 of Mohr, et.al.
 View: Online lecture on Strategic Market
Planning
Discuss concepts and
form teams
 Read: Chapter 4 of Mohr, et.al.
 View: Online lecture on Market Orientation and
Cross-Functional Interaction
Core features and
functions of the
technology-based
product or service &
the market orientation
Introduction
Strategic Market Planning
2/5
Market Orientation and
Cross-Functional
Interaction
2/7
 Read: Chapter 5 of Mohr, et.al.
Partnerships and Alliances  View: Online lecture on Partnerships and
Alliances
Key partnerships and
alliances
2/12
Market Research I of II
 Read: Chapter 6 of Mohr, et.al.
 View: Online lecture on Market Research I
Market segmentation,
to include customer
demographics and
psychographics
2/14
Market Research II of II
 View: Online lecture on Market Research II
Survey design
Maryland Technology Enterprise Institute · A. James Clark School of Engineering · University of Maryland
www.mtech.umd.edu
Sample in-class assignment:
Market Segmentation
“Define your target audience in terms of demographics and
psychographics, and discuss your marketing research tools
to test these assumptions”.
Define the demographics of your target customer(s).
Define the psychographics (behaviors and attitudes) of your
target customer(s).
3. What marketing research techniques and tools will you use
to verify and/or change the above assumptions?
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Limit your submission to 2 pages.
For submission on Canvas by the end of class today.
This deliverable is 3.33% of the course grade.
Maryland Technology Enterprise Institute · A. James Clark School of Engineering · University of Maryland
www.mtech.umd.edu
Lessons learned and next steps for Spring 2014
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With nominal funding and an expectation to a launch new
venture, students can deliver on a very short timeline
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Venture creation is dramatically higher among (1) spring
junior class than the (2) fall senior class
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$9,500/class awarded competitively across 2 rounds
All purchases made by faculty to speed the purchase process
Grad school and employment offers less of an issue
Provides an additional year to develop the venture
Flipped classroom presented a valuable approach to
accelerate team progress and engage faculty
While seniors typically embraced opportunity to abandon
less promising concepts by mid semester, many juniors
desired to maintain their original concept/team
Maryland Technology Enterprise Institute · A. James Clark School of Engineering · University of Maryland
www.mtech.umd.edu
Contact for
Information and Collaboration
Dr. James V. Green
Director, Entrepreneurship Education, Mtech
jvgreen@umd.edu
301.314.1450
Maryland Technology Enterprise Institute · A. James Clark School of Engineering · University of Maryland
www.mtech.umd.edu
Evaluation includes existing University and department
measures, plus the creation of E-Teams with NCIIA
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Standard course evaluations on campus
Course specific evaluation
Entrepreneurial mindset surveys
Securing grants and awards
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With attention to E-Team grants
Founding companies
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Creation of for-profit firms, with an emphasis on socially
impactful products that can be launched by undergraduates
Course will help not only University of Maryland students navigate this
challenge of transforming ideas into technology ventures,
but will create a new replicable pedagogy for all universities.
Maryland Technology Enterprise Institute · A. James Clark School of Engineering · University of Maryland
www.mtech.umd.edu
Venture creation table
Maryland Technology Enterprise Institute · A. James Clark School of Engineering · University of Maryland
www.mtech.umd.edu
Annual Demo Day
Maryland Technology Enterprise Institute · A. James Clark School of Engineering · University of Maryland
www.mtech.umd.edu
Maryland Technology Enterprise Institute · A. James Clark School of Engineering · University of Maryland
www.mtech.umd.edu
Sample Ventures
Maryland Technology Enterprise Institute · A. James Clark School of Engineering · University of Maryland
www.mtech.umd.edu
Vince
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careerpeer
Maryland Technology Enterprise Institute · A. James Clark School of Engineering · University of Maryland