[Cancelled for Spring 2019. May be offered in Fall 2019.]
Many promising research projects never see the light of day as useful products or services because commercialize their discoveries.
Objective: The goal of this IPRO project is to help students learn and progress through the necessary steps to commercialize a concept and to thereby reap the benefits of their research and creativity, energy and passion. Students will be organized as agile teams to investigate the commercial potential of their project ideas by developing advanced prototypes and testing them with potential users. Students will be introduced to basic business development ideas for marketing their products.
Approach: Students in this IPRO will work in teams of three to five students representing different disciplines. Each team selects one from a variety of interesting project areas and further develops it towards commercialization. IPRO faculty and Entrepreneur Mentors will guide the students through the basic processes needed to develop, rapidly prototype, and refine research ideas into marketable products or services. Students will also be introduced to basic business development approaches that include Lean Startup and Minimum Viable Product methods. Students from all Illinois Tech disciplines can participate and make important contributions to success.