ArtCereal Credits School of Management Training for Competitive Success
The School of Management (SMG) undergraduates behind the new creative venture ArtCereal have taken top prize at the Boston Startup Weekend and in the Terrier Trap $1K Concept Competition both held recently at Boston University to support entrepreneurs in refining new business concepts.
ArtCereal offers a student art brokerage website, connecting student artwork with buyers. The team behind the idea includes Alessandro Cetera (Marketing and International Management, SMG ’12), John DeFelice (General Management, SMG ’12), Clara Luo (Finance & Marketing, SMG ’12), Dan Stalls (International Management, SMG ’13), Olivia Wilson (Marketing & Entrepreneurship, SMG ’14), and Max Veggeberg (Entrepreneurship, SMG ’12), as well as Nilesh Khaitan (CAS/ENG, ’15), and Arnaud Rouyer and Jenny Ha from beyond BU.
ArtCereal’s Mission: Bringing a Simple Solution to a Nationwide Problem
Says the ArtCereal team, “We wanted to build a business that could provide artists with a platform to showcase and sell their artwork to the community. Many of us have friends who are art majors and often had to throw out or give away paintings because they could no longer store them. Our goal was to take a nationwide problem and develop a simple solution that could become a viable business. Our mission is to make art accessible to everyone and create a marketplace for beautiful, original, and affordable art.”
“After going through SMG’s CORE, we knew what tasks had to be prioritized and how to properly delegate work among team members in order to be efficient.”
About the Competitions: Supporting Entrepreneurs in Refining New Product Concepts
The Boston Startup Weekend was held October 14-16. Participants were given 54 hours to develop a commercial case around a new product in the creative industries. Each team was challenged to construct the framework of their proposed new business, build a web or application presence for it, and present their initiative to a panel of judges drawn from the local startup community. Pitches were judged on three criteria: viability of the business model, execution of presentation, and strategic targeting of customers. In addition to noting ArtCeral’s excellence in each of these areas, the judges also praised ArtCereal for its innovation in filling an untapped market niche.
The Terrier Trap $1K Business Concept Competition, also held on October 14, is another Boston University initiative designed to help students learn about the process of formulating and refining an entrepreneurial idea. Teams presented their business plans to a group of resource experts from the university and local business community, who judged for the commercial potential for the concept, evidence of sound strategic thinking, and quality of written and oral presentation.
Tapping Lessons Learned in the SMG Classroom and Beyond
“Also from our SMG experience, we had a good general sense of how different aspects of a business need to function and work together.”
“Because we only had 54 hours to develop a brief business plan” for the Boston Startup Weekend, says the ArtCereal team, “it was extremely important to have good time management, project organization, and team communication. After going through [the SMG required curriculum] CORE, we knew what tasks had to be prioritized and how to properly delegate work among team members in order to be efficient. We were able to quickly divide into subgroups and had an organized process of what fundamentals needed to be done first, such as market research, defining our target markets, surveys, etc. Also from our SMG experience, we had a good general sense of how different aspects of a business need to function and work together.”
As for what they learned from competing in both events, the team reports, “We saw the importance of having a strong vision and story, and being able to communicate these effectively. Since we had such little time, we had to make sure we stayed focused and kept our vision simple but intriguing, while keeping the communication and team workflow going.”
“We also found it very important to just have fun,” team members add, “especially if what you are doing is going to take up your whole weekend!”
Learn more about ArtCereal.
New work from Boston University School of Management’s Ashley J. Stevens, D.Phil, co-authored by colleagues from across the University and the National Institutes of Health, has illuminated how public-sector research has had a more profound effect on improving public health than previously realized, most notably in the realm of drug discovery.
Stevens is a lecturer and Senior Research Associate at the School’s Institute for Technology Entrepreneurship and Commercialization (ITEC), as well as Special Assistant to the Vice President for Research at Boston University.
His article “The Role of Public-Sector Research in the Discovery of Drugs and Vaccines”* appeared recently in The New England Journal of Medicine and was co-authored by Jonathan J. Jensen (Boston University School of Management alumnus), Katrine Wyller (previous School of Management Technology Transfer Fellow), Patrick C. Kilgore, Sabarni Chatterjee, and Mark L. Rohrbaugh (National Institutes of Health).
153 new FDA-approved drugs, vaccines, or indications for existing drugs were discovered by PSRIs (four of which can be credited to current or former Boston University researchers).
Bayh-Dole and the Federal Technology Transfer Act
Stevens and his colleagues traced the impact on public health of two U.S. laws: the Bayh–Dole Act of 1980, allowing universities, nonprofit research institutes, and teaching hospitals to own the intellectual property resulting from federally funded research and license it according to terms of their choosing; and the Stevenson–Wydler Technology Innovation Act as amended by the Federal Technology Transfer Act of 1986, extending the same authority to federal laboratories.
These acts enabled studies conducted at public-sector research institutes (PSRIs)–universities, research hospitals, nonprofit research institutes, and federal laboratories–in the United States to be freely published in the scientific literature, and also converted into intellectual property and transferred, through license agreements, to the private sector, enabling its commercialization and public use.
New Discoveries about Drug Discovery
The authors, exploring the impact of these acts three decades on, found that 153 new FDA-approved drugs, vaccines, or indications for existing drugs were discovered through studies carried out by PSRIs (four of which can be credited to current or former Boston University researchers).
They also found that PSRIs tend to discover drugs that have a disproportionately important clinical impact. “Slightly over half of these drugs were for the treatment or prevention of cancer or infectious diseases,” Stevens explains. “Furthermore, drugs discovered by PSRI’s received Priority Review by the FDA at twice the rate as for all FDA drug approvals, indicating that PSRI discovered drugs were expected to have a disproportionately high therapeutic impact.”
“Slightly over half of these drugs were for the treatment or prevention of cancer or infectious diseases; Drugs discovered by PSRI’s received Priority Review by the FDA at twice the rate as for all FDA drug approvals.”
As he and his colleagues write, “Our data show that PSRIs have contributed to the discovery of 9.3 to 21.2% of all drugs involved in new-drug applications approved during the period from 1990 through 2007.”
The paper has had broad influence since its publication, being widely cited in the media and heavily quoted by policy makers in Washington noting the significant economic spillover from federal investments in basic science. Recently, Francis Collins, director of the National Institutes of Health, cited the study in his explanation of the NIH’s proposed 2012/13 budget.
Ultimately, Stevens comments, “we believe that our study supports the concept that the emergence of biotechnology in the mid-1970s, combined with policy changes implemented in the early 1980s regarding the ownership and management of the intellectual property of PSRIs, allowed–and will continue to allow–these institutions to play an important role in the downstream, applied phase of drug discovery.”
*“The Role of Public-Sector Research in the Discovery of Drugs and Vaccines,” Ashley J. Stevens, D.Phil., Jonathan J. Jensen, M.B.A., Katrine Wyller, M.B.E., Patrick C. Kilgore, B.S., Sabarni Chatterjee, M.B.A., Ph.D., and Mark L. Rohrbaugh, Ph.D., J.D., The New England Journal of Medicine, February 20, 2010.
In a recent article about Boston-area colleges that are expanding their cleantech entrepreneurship programs, Mass High Tech spotlights Boston University’s inaugural “Leading Clean Energy Ventures” as one of the exciting new offerings in the area.
They write, “Ramesh Kumar is trying to decide between two ideas for his big class project at Boston University. Should he focus on one of the big problems with electric vehicles, or with home energy efficiency products?
He’ll be making his decision soon. But Kumar isn’t an undergrad or grad student at the college. He’s been down the entrepreneurial road twice before, most recently selling his mobile couponing and ticketing firm, Activemedia Technologies, to U.K.-based 2ergo Ltd. in 2009.
Now, Kumar is looking to take his experience into the clean technology space. “It’s hard to project what’ll happen, but my goal is to start a company,” he said.
Kumar is one of the 23 people taking part in the inaugural offering of Leading Clean Energy Ventures, co-led by BU and the New England Clean Energy Council. The 12-week program is the successor to the council’s popular fellowship program, which ran twice, in 2008 and 2009.
“What we really want to develop is a sense of what is, in fact, innovation.”
-Paul McManus, Executive in Residence at the BU School of Management and Co-director of the BU/NECEC program
The program is just one of several in the Boston area that are seeking to educate executives and professionals about the cleantech industry, with the goal of hatching new cleantech companies whose business plans are as innovative as their technologies.
“What we really want to develop is a sense of what is, in fact, innovation,” said Paul McManus, co-director of the BU/NECEC program and an executive-in-residence at BU’s School of Management. “It’s not merely just inventing and coming up with bright ideas, but it’s also business model innovation … This program is very much about how you recognize opportunities and whether they qualify as good ones or not.”
Other area programs include the Clean Energy Ventures program at MIT, now in its second year, and the Graduate Certificate in Clean Energy and Sustainability at University of Massachusetts Boston, launched in January.
Each program has its own approach, but all have the goal of getting executives and professionals up to speed on the cleantech industry — and ready to contribute.
“We’re really looking to build management capacity in the cleantech and clean energy sector here in the New England area,” McManus said.
“We’re really looking to build management capacity in the cleantech and clean energy sector here in the New England area.”
-Paul McManus, Executive in Residence at the BU School of Management and Co-director of the BU/NECEC program
Peter Rothstein, president of the New England Clean Energy Council, said the council’s fellowship program graduated 37 people over its two years, with more than a dozen going on to start cleantech firms in New England and others joining existing firms.
Most of the companies that came out of the program have raised angel or seed money, or found customers, he said. Graduates include Lorraine Wheeler, experienced in mobile computing and now head of Qado Energy Inc., which develops software to integrate renewable generation into the smart grid, and Peter Vandermeulen, whose high-efficiency air conditioning firm, 7AC Technologies Inc., was a national finalist in last year’s Cleantech Open.
But Rothstein said the goal has always been to make the program self-sustaining, rather than relying on support from foundations and its own staff for running the program.
“We’re not a university, and to be able to staff up and support a program like this is a significant undertaking,” he said. Partnering with BU also provides the program’s graduates with a certificate from the university in Leading Clean Energy Ventures, he noted.
The program began in early February and concludes at the end of April; the plan is to continue offering the program once a year at this time, Rothstein said.
The program is also not just for entrepreneurs. Others attending the program this year include corporate venture leaders, investors, regulators and policy makers, McManus said.
The program includes looks at subsectors and technologies in cleantech, commercialization and regulatory issues, case studies of successful firms like Boston-based EnerNOC Inc., visits to companies and a capstone project that aims to lead to a new startup.”
From the article, “Boston-area colleges expand cleantech entrepreneurship programs,” by Kyle Alspach, Mass High Tech, March 30, 2011.
The Institute for Technology Entrepreneurship & Commercialization (ITEC) at Boston University has announced the winners of the 11th Annual $50K New Venture Competition. The competition, held on April 6 at the School of Management, provides students and alumni with an exciting venue to develop their business ideas and test-drive with industry experts. The top three winning teams collectively gain access to $50,000 in funding and support.
The 2011 team winners are:
- First Place: RayVio, headed by Dr. Yitao Liao, ECE ’10, is a spin-off from a BU research lab. The company has developed revolutionary UV LEDs that are a low-cost, durable, and energy efficient substitute for mercury lamps in the water purification and disinfection market. Dr. Milan Minsky presented the plan. The team also includes: Simon den Uijl, Chen-kai Kao and BU Professor Moustakas.
- Second Place: Twister Grips will enter the bicycle market by offering an innovative solution that will reduce chronic injuries from cycling while increasing comfort and performance for bicyclists. This business is headed by Fredrik Fjellsaa, ELC ’10, a graduate of the Global Diploma in Entrepreneurship program, with team support from Inese Pumpure.
- Third Place: ACCEasy, headed by Katsiaryna Akhlopkava, GSM ’11, is “cloud-based” accounting SaaS for Russian small businesses. It is an inexpensive, easy to deploy, and scalable solution that can be integrated with major standards of existing accounting software on the market. The team also includes Mikalai Makaranka.
According to Beth Goldstein, Director of the 50K New Venture Competition, “This competition has always attracted high quality entrants, and this year was no different. The 2011 business concepts are innovative and bold, and the finalist teams epitomize the entrepreneurial spirit that we seek to cultivate through the ITEC program. This year’s finalists included graduate as well as undergraduate students from three different schools at the university: School of Management, School of Public Health, and the College of Engineering. We look forward to following their continued success.”
Each team presented their business plan to a panel of four expert judges who have supported the Competition for many years: Gordon Penman from Brown Rudnick, Charles Lax from GrandBanks Capital, Louis J. Volpe from Kodiak Venture Partners, and Eugene Hill from SV Life Sciences. The panel of judges considered the quality of the written business plan along with the ability of the team to successfully communicate the goals of their plan.
ITEC also awarded a People’s Choice Award to the “business most likely to succeed.” Using wireless hand-held clicker technology donated by Platinum Sponsor Brown Rudnick LLP, the audience chose Twister Grips as the 2011 recipient of the People’s Choice Award.
About the ITEC $50K New Venture Competition
The annual ITEC $50K New Venture Competition provides BU students and recent alumni with the opportunity to develop their business idea into a solid business plan. The four teams competed for prizes worth over $50,000. Along the way, finalists received mentoring and advice from start-up veterans, as well as the opportunity to expand their network and connect with potential sources of funding. ITEC helps all business teams connect with funding sources that can provide the capital and hands-on leadership required to bring their idea to fruition. The annual competition is supported by Brown Rudnick and Seyfarth Shaw. For more information about the $50K New Venture Competition, visit http://www.bu.edu/itec and click on Competitions.
About The Institute for Technology Entrepreneurship & Commercialization (ITEC) at Boston University School of Management
The Institute for Technology Entrepreneurship and Commercialization (ITEC) is a new model for entrepreneurship education, research and training that uniquely cross-channels resources from a large number of schools and departments throughout Boston University. No other program provides the new entrepreneur with such a variety of opportunities for developing new technologies, products and services that meet global needs in healthcare, life sciences, alternative energy, information technologies, and other sectors. To help new entrepreneurs create sustainable enterprises, ITEC is located in the School of Management, 595 Commonwealth Avenue, Boston, MA 02215. ITEC promotes cross campus exchange across all 17 schools at the university. For more information, please email ITEC@bu.edu or visit www.bu.edu/itec.
Latest News: Four Teams from Across BU Selected as Finalists
Boston University’s $50K New Venture Competition, sponsored by the Institute for Technology Entrepreneurship and Commercialization (ITEC) at the School of Management, provides students and recent alumni with an exciting venue through which to develop their business ideas and test-drive with industry experts.
Throughout the entire competition, budding entrepreneurs gain the opportunity to practice presenting their innovations to potential investors and refining their ideas with a network of advisors.
Each team acquires hands-on experience and exposure through the following steps:
“Since the contest’s inception 11 years ago, we’ve been impressed by the innovation and passion behind the teams’ proposals. This year, the applications have even surpassed this level of excellence. ”
–Beth Goldstein, Director, $50K New Venture Competition, ITEC
Competition launch: Each team submits their executive summaries for review.
Semifinal round: Semifinalists go on to present their business concept via a PowerPoint presentation to a team of business experts.
Final round: Finalist teams develop full business plans and present them to a panel of judges consisting of venture capitalists and other members of the business community. All finalists also receive mentoring from start-up veterans as well as introductions to ITEC’s networks, which can provide the capital and hands-on leadership required to bring their ideas to fruition.
Jackpot: The top three winning teams collectively gain access to $50,000 in funding and support.
The 2011 Competition: Congratulations to the Finalists!
Congratulations to the following teams, who will present their plans to venture capitalists at the final competition on April 6, 2011.
- ACCEasy, headed by Katsiaryna Akhlopkava, GSM ’11, is accounting SaaS for Russian small businesses. It is an inexpensive, easy to deploy and scalable solution that can be integrated with major standards of existing accounting software on the market.
Handlebikes, headed by Fredrik Fjellsaa, ELC ’10, a graduate of the Global Diploma in Entrepreneurship program with team support from Inese Pumpure, will enter the bicycle market by offering an innovative solution that will increase comfort and performance for bicyclists
- Nyumba, headed by Andrea Fernandes, SPH’10, is a robust, cell-phone/solar-powered pulse oximeter developed by BU’s Laboratory for Engineering Education and Development. It can potentially identify pneumonia patients in developing countries and accelerate achievement of Millennium Development Goals.Amy Canham, ENG, and Benvy Caldwell, SPH, are also members of the team.
- RayVio, headed by Dr. Yitao Liao, ECE ’10, is a spin-off from a BU research lab. The company is developing revolutionary UV LEDs that are a low-cost, durable and energy efficient substitute for mercury lamps. Dr. Liao is joined by Simon den Uijl, Chen-kai Kao and BU Professor Moustakas.
Learn more about support for entrepreneurs at the School of Management and Boston University in the Builders & Leaders article Start Something: Entrepreneurship at BU.
The National Business Incubation Association (NBIA) has again awarded the NBIA Soft Landings International Incubator designation to the Boston University International Incubator Program, a renewal of the designation BU first received in 2008.
Boston University’s is one of only 19 business incubation programs from around the world that have earned this designation since NBIA began awarding the designation in 2005.
“The International Incubator Program is just one of the many ways we bring the world to BU and connect our students with world-class entrepreneurs.”
–Paul McManus, Managing Director, Boston University Institute for Technology Entrepreneurship & Commercialization
Through its Soft Landings program, NBIA recognizes incubation programs that are especially capable of helping non-domestic companies enter the incubator’s domestic market, catalyzing the process of starting and growing companies by providing entrepreneurs with the expertise, networks, and tools they need to make their ventures successful. NBIA notes that this is especially important for non-domestic firms because they require more than the standard set of incubation services.
A panel of experienced incubator managers for NBIA singled out Boston University’s program for “accentuat[ing] its standard incubation services with programs tailored specifically to non-domestic firms, including help with licensing and permits, support with legal and accounting networks, and assistance in building management teams.”
The Institute for Technology Entrepreneurship & Commercialization (ITEC) at Boston University School of Management has announced the three winners of the BU $1K Business Concept Competition, held on Friday, October 15, 2010. Each winning team will get the chance to work with an assigned business mentor, who will help them further refine their business plan, and have access to $1,000 in funding to turn their concept into reality.
Each winning team will work with an assigned business mentor to further refine their business plan and have access to $1,000 in funding to turn their concept into reality.
Congratulations to the following Boston University undergraduate teams:
Band Over Boston, presented by Cullen Corley (CAS, ’13/’14)
The concept is to create a portal to Boston’s vibrant local music scene, principally by streaming local music at cafes and Wi-Fi hotspots around Boston and creating a website based around a library of all-local music. Location-specific playlists for cafes and other venues will simultaneously serve as brand enhancement for local and independent businesses, make them a destination for a new clientele, and support local music.
The QuickStick, presented by Michael Peerless (SMG ’11), Jeffrey Sakowicz, and Gregory Tavolacci
The QuickStick provides a simple and affordable tool for computer illiterate individuals (with a focus on baby boomers) who are frustrated with the speed and lack of responsiveness of their computer. The product will feature a software solution using a USB device as opposed to a CD, making the product a fast, inexpensive, and easy alternative for the end user.
Urban Electronics Games, presented by John Wolff (CAS ’12), Antoine Vo (CAS ’11), and Megan Hacker (CAS ’10)
Urban Electronics Games (UEgames) is an independent video game studio. Its focus is to develop and evaluate new or existing game components to see how they can attract potential gamers. At UEgames, players/customers have an active, open role in development, so that the (development) team can simultaneously learn what its customers want to play and what will attract them to future games.
Drawing thought leaders in OB, IS, and Strategy & Innovation
Supporting the School of Management’s mission to foster cross-functional research and innovation, faculty from the departments of Organizational Behavior, Strategy & Innovation, and Information Systems have announced the Fall 2010 lineup of the Boston University Organizations Seminar (BOS) series.
Friday, October 29: Building an Institutional Field to Corral a Government
Stephen R. Barley, Stanford University
Charles M. Pigott Professor in the School of Engineering; Co-Director, Center for Work, Technology & Organization
Abstract: Although organizational theorists have given much attention to how environments shape organizations, they have given much less attention to how organizations mold their environments. This paper demonstrates what organizational scholars could contribute if they were to study how organizations shape environments. Specifically, the paper synthesizes work by historians, political scientists and students ofcorporate political action to document how corporations systematically built an institutional field during the 1970s and 1980s to exert greater influence on the US Federal government. The resulting network, composed of nine distinct populations of organizations and the relationships that bind them into a system, channels and amplifies corporate political influence, while simultaneously shielding corporations from appearing to directly influence Congress and the administration.
Friday, November 5
Michael G. Pratt, Boston College
Professor of Organizational Studies; Winston Center for Leadership and Ethics Fellow
Friday, September 24: “Routines as a Source of Change in Organizational Schemata: The Role of Trial-and-Error Learning”
Martha Feldman, University of California at Irvine
Professor of Planning, Policy & Design, Management, Sociology, and Political Science; Johnson Chair for Civic Governance and Public Management
FROM THE SPRING 2010 SERIES
Friday, March 12: Organizations & Positive Social Change: Generative Possibilities for Theory and Practice
- Debra Meyerson, Stanford University, Power beyond the Purse: Philanthropic Foundations as Agents of Social Change
- Andy Hoffman, University of Michigan, Hybrid Organizations and Social Change: Blurring the For-Profit/Nonprofit Boundary on Environmental Issues
- Carrie Leana, University of Pittsburgh, Positive Organizational Change for the Working Poor
- Karen Golden-Biddle, Boston University, Fostering Positive Implementation Processes for Sustainable Health System Change
Moderated by: Jane Dutton, University of Michigan
Friday, March 26:
William Kerr, Harvard Business School
Assistant Professor, Entrepreneurial Management
Friday, April 30:
Sally Maitlis, University of British Columbia
Associate Professor, Organizational Behaviour and Human Resources; Associate Editor, Journal of Management Inquiry; Board Member, Academy of Management Journal and Academy of Management Review
Friday, February 26: Legitimating Entrepreneurial Identities in a New Market Category: A Study of Satellite Radio, 1990-2005
MaryAnn Glynn, Boston College
Joseph F. Cotter Professor, Organization Studies, Boston College; Board member, Organization Science
FROM THE FALL 2009 LINEUP
Friday, September 25: Trouble In Store: Probes, Protests, and Store Openings By Wal-Mart: 1998-2005
Hayagreeva Rao, Stanford University
Atholl McBean Professor of Organizational Behavior and Human Resources; Editor, Administrative Science Quarterly
Friday, October 23: Grabbing onto Things in the Digitized World
Richard Boland, Case Western Reserve University
Professor, Information Systems
Friday, November 20: Of Mice and Academics: Examining the Effect of Openness on Innovation
Fiona Murray, Massachusetts Institute of Technology
Associate Professor, Management of Technological Innovation & Entrepreneurship
Professor Mark W. Grinstaff wins inaugural honors
Boston University Professor Mark W. Grinstaff has won the inaugural Innovator-of-the-Year Award from BU’s Office of Technology Development, recognizing a faculty member who translates research into innovations that benefit humankind. It was awarded at OTD’s first annual networking event, Tech, Drugs, & Rock ‘n Roll, the unofficial kickoff of a university-wide commitment to establish Boston University as the new hub of entrepreneurship in Boston.
A professor of biomedical engineering in the College of Engineering and of chemistry in the College of Arts and Sciences, Grinstaff co-founded three companies now commercializing his research ideas: Hyperbranch Medical Technology, Flex Biomedical, and recent start-up Acuity Bio, which is commercializing a new drug delivery device for the prevention of tumor recurrence after surgical resection – a significant unmet clinical need. His current work includes research into new macromolecule and amphiphile syntheses, self-assembly chemistry, tissue engineering, and drug delivery.
–Robert A. Brown, President of Boston University
“Professor Grinstaff is an entrepreneurial scientist, whose practical approach to science has led to the formation of three companies producing beneficial products,” said BU President Robert Brown, who presented the award. “His accomplishments in the past year include 15 peer-reviewed papers published, two invention disclosures, a patent filing, and more than $1 million invested in Flex Biomedical.”
Grinstaff received a Ph.D. from the University of Illinois and was an NIH postdoctoral fellow at the California Institute of Technology. His honors include the ACS Nobel Laureate Signature Award, NSF Career Award, Alfred P. Sloan Research Fellowship, Pew Scholar in the Biomedical Sciences, Camille Dreyfus Teacher-Scholar, and Edward M. Kennedy Award for Health Care Innovation.
About the Boston University Innovator-of-the-Year Award
The Boston University Innovator-of-the-Year Award seeks to highlight translational research at the School by recognizing an entrepreneurial faculty member and the potential for commercialization and/or wider adoption of their inventions. It also encourages faculty to become entrepreneurial while promoting role models who can inspire graduate students to pursue entrepreneurial careers.
Marketing & Communications Manager
Boston University School of Management
BU Aims to Be the New Hub of Entrepreneurship in Boston
On July 27, 2010, Boston University’s Office of Technology Development (OTD) hosted its first annual networking event, “Tech, Drugs, & Rock ‘n Roll,” the unofficial kickoff of a university-wide commitment to establish Boston University as the new hub of entrepreneurship in Boston.
The OTD, whose mission is to “encourage, educate and enable…the BU community to realize [the] commercial potential of their ideas,” helps students, faculty, and alumni bring their innovations to market through assistance with business incubation, patent filing, licensing, and funding.
Tech, Drugs, & Rock ‘n Roll gathered together industry professionals, research scientists, and budding Boston University entrepreneurs for an evening of food, networking, technology presentations, “education by conversation,” and live music by the Joshua Tree Band. University president Robert A. Brown presented BU Professor Mark W. Grinstaff with the inaugural Innovator-of-the-Year Award, recognizing a faculty member who translates research into innovations that benefit humankind.
In addition, OTD staff provided information about how to get involved with the Kindle Mentoring Program, which matches members of the BU community with senior executives of established companies, CEOs of start-ups, and angel investors. Mentors then support these new entrepreneurs in bringing their ideas to the marketplace.