Entrepreneurship and Product Development
in Bioengineering at Rice University
‘Unique Feature’
Maria Oden
Description of Capstone Design Program
• Undergraduate Capstone Design class
– “Real-world” client-based design challenges
– 30% of team interdisciplinary, MECH, ECE, CAAM
– 4-5 member teams
• Project Sources
– Physicians in our medical center, Industry (startups), Global health, NASA, Faculty research labs
Oshman Engineering Design Kitchen
• A 12,000 ft2 space for undergraduate students in all engineering
departments at Rice to design, prototype and deploy solutions to
real-world engineering challenges.
– Interdisciplinary projects
– Real-world design challenges
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Energy, sustainability
Oil exploration
High Tech
Medical Devices
Global Health
NASA related projects
‘Fun’ Tech
• Reducing the barriers for success in
engineering design
Course Module in Business Planning
and Entrepreneurship
• Working with the Rice Alliance for Technology and
Entrepreneurship, we developed a compact 4-lecture
discussion-based module:
1.
Business plans: Why do I need one?
2.
Elevator pitches: Why do I need one?
3.
Business models and options: How will I make money?
4.
Protecting your ideas.
• The students complete assignments in these areas by using
their own design project as their case study.
• Module can be incorporated into any capstone design class
across the school of engineering
Topics in Business Planning Module
Business plans: Why do I need one?
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Uses and function of a business plan. Who needs them?, Why are they needed?,
Who writes them?, Who will read them?, What do you do with them?, What’s in
them?
Common material that should be present in a business plan
Elevator pitches: Why do I need one?
• Uses and function of an elevator pitch. When are they needed?, Who gives them?,
Why are they important?, What is the impact of a good or bad elevator pitch?
• Class watches example elevator pitches from Rice Business Plan competition and
previous year’s seniors.
Business models and options: How will I make money?
• Various kinds of business models and how they can be used to create a viable
business.
Protecting your idea
• Introduction to intellectual property, technology transfer, patents. Determining
patentability, Why or why not patent?, Trademarks, NDA’s, “Know How”, Trade
secrets, When is an IP an asset?
Elevator Pitch Competition
• Required for students in BIOE ECE and MECH
• Open to all Rice undergraduates who want to pitch a
technology based product
• 90 second pitch
• Coaching by professionals, local entrepreneurs or
investors
• 50+ judges (mostly local entrepreneurs or investors)
• Cash prizes awarded to the top teams
• 71 teams have participated in this process in the past
3 years
Survey: “I learned new material that will be useful in
my career (Business Module and Elevator Pitch Competition)”
Strongly
Disagree Disagree
3%
0%
Strongly
Agree
33%
Neutral
10%
Agree
54%
“It was an intense,
defining moment of my
Rice experience. Having
the opportunity to
present to an auditorium
of investors and venture
capitalists is almost too
good to be true.
Thank you.”
Initial successes
• Outcome- After 1st year of Elevator Pitch
competition, students organized Rice
Undergraduate Technology Venture Forum
– Full business plan competition for undergraduates
• Occurs after final exams in the spring
• Cash Prizes- funds raised by students
• 7 teams from previous three years pursuing
licensing of technology in order to create a
business
• Shriner’s Hospital for Children
• Measurement of Intrinsic Hand Strength
• 1st Place ASME iSHOW
• Numerous awards in national business plan competitions
• > $40,000 in competition awards
grants in 1st year
and
• Licensed Technology from Rice
• As of 12/10, raised >$250,000 in
capital
venture
Infant Air bCPAP System
• Bubble CPAP for respiratory support of newborns in
respiratory distress in very low resource settings.
• <$200 to build off the shelf
• Won Social Ventures category
of Rice Business Plan
Competition
• ~ $30,000 in competition awards
grants in 1st year
and
• Preparing for regulatory approval
• $250,000 USAID grant to perform clinical trials in Africa
Barrier to success in entrepreneurship
and product development
• Intellectual property issues with university
• Students graduating right as projects show
promise
Team Zikomo: Neonatal Syringe Pump for the Developing World
2nd Place
2011 National iShow – ASME Innovation Showcase
Outstanding Student Humanitarian Prize
IEEE Presidents' Change the World Competition
Team Dexter: Capture Motion Path for Cerebral Palsy Patients
Grand Prize
2011 ASME Bioengineering Division Rehabilitation
Engineering Design Competition
Team Tru(hB)lood: Paper-based Anemia Diagnosis for Low-resource Settings
2nd Place
2011 NCIIA BMEStart Biomedical Innovation Competition
Team Defib Task Force:
Second Chance AEDs Pads
Best Medical Breakthrough - 2011
2011 Houston Press “Best of” Awards
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