IIT students currently have a variety of individual entry points across the university for exploring their ideas, obtaining support and even forming a team to further develop their concepts. The purpose of this IPRO section is to inspire and encourage new venture concepts in a dynamic, multi-team workshop environment that cultivates interaction, serendipitous connections, breakthrough thinking, and a touch of competitive spirit.
Twelve emerging technologies are poised to change the world and how we live our lives. Technologies like energy storage, automation of knowledge work, and autonomous vehicles. According to the McKinsey Global institute, the market for IOT could be worth $4 Trillion alone. Businesses need new strategies. Policy makers need new social policies, and technologists need to make the technology useful to our lives. The leaders of our institutions need to identify and carefully evaluate potentially disruptive technologies early in their lifecycle as they begin to impact the world we live in.
IPRO team members will be encouraged to craft their own new venture ideas and concepts based on a combination of the 12 emerging technologies listed below. Team members may bring pre-existing ideas to the class or create new projects using the list of emerging technologies.
Advances in technology continue to drive economic growth and unleash disruptive change. Economically disruptive technologies—like the microchip, the Internet, and steam power transform the way we live and work, enable new business models, and provide an opening for new players to upset the established order. In this IPRO class we will sort through the noise to examine 12 of these technologies and come to grips with how each will change the ways people live and work and how companies, industries, and economies function.
Multiple, agile small teams organized within this IPRO class will identify specific technologies on which they would like to focus. These teams will learn the principles of user-centered design methods. They will identify user-defined problems and then begin to develop a product or service and a new customer experience.
Team members will use Professor Vijay Kumar’s book 101 Design Methods to guide their design and development through the term. Examples of projects include: The design of medical devices using 3D printing; the design of smart, distributed power grids that use new energy storage technology and the future of wearables and clothing using the Internet of Things (IoT). Team members will be encouraged to find challenging human problems and use the new technologies to improve lives.
The 12 technologies are: (1) the mobile Internet; (2) Automation of knowledge work; (3) the Internet of Things; (4) cloud technology; (5) advanced robotics; (6) autonomous and near-autonomous vehicles; (7) next-generation genomics; (8) energy storage; (9) 3D printing, scanning, and advanced manufacturing technologies; (10) advanced materials; (11) advanced oil and gas exploration and recovery; and (12) renewable energy.