Forum on Innovation
and Entrepreneurship
in Biomedical Engineering
Education
Biomedical Engineering Department
University of Michigan
Matt O’Donnell
BME Department
BME 550: Ethics & Enterprise
• 1-credit course taught by BME faculty
introducing students to entrepreneurship
issues
• Presentations from local venture community
• Primary purpose is exposure for all students
BME Department
IOE 422: Entrepreneurship & Innovation
• 4-credit course taught by Operations Engineering
faculty
• Student teams develop business plan with an
emphasis on e-commerce
• Final presentations to local venture capital forum
• More of a “traditional” intro to entrepreneurship
and innovation
BME Department
ES 515 & 517: New Venture Creation I &
Research & Writing the Business Plan
• Coupled half-term modules presented by the
Zell/Lurie Institute for Entrepreneurial Studies in
B-School
• ES 515 – Intro to new venture creation – teams
formed between MBA students and others (e.g.,
BME students)
• ES 517 – Teams formulate business plan delivered
to venture capital forum
• Top teams get venture funds to launch business
BME Department
Effective Entrepreneurship Education
• Expose all students – you never know
who can become an entrepreneur
• Identify venture firm to work closely
with department and B-School
(Arboretum Venture – Jan Garfinkle)
• Internships in venture firms
BME Department
How do we measure outcomes?
• Simplest measure is the number of new
businesses launched from BME Dept.
• Entrepreneurship preparation is part of
alumni survey
• Feedback for local and national venture
community (especially from ES 517)
BME Department
Example: Dental CT System
• Team formed among BME graduate students
• Team takes ES 515/517 and links with MBA
group in B-School
• Team wins venture competition and company
is formed
• Company receives two major SBIR awards in
first year to supplement venture funds
BME Department