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Biomedical Engineering Department University of Michigan Matt O’Donnell. Forum on Innovation and Entrepreneurship in Biomedical Engineering Education. 1-credit course taught by BME faculty introducing students to entrepreneurship issues Presentations from local venture community

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biomedical engineering department university of michigan matt o donnell

Biomedical Engineering DepartmentUniversity of MichiganMatt O’Donnell

Forum on Innovation and Entrepreneurship

in Biomedical Engineering

Education

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 550: Ethics & Enterprise
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

IOE 422: Entrepreneurship & Innovation
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

ES 515 & 517: New Venture Creation I & Research & Writing the Business Plan
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

Effective Entrepreneurship Education
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)

How do we measure outcomes?
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

Example: Dental CT System