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* The Rensselaer Plan The Rensselaer Plan
The Rensselaer Plan
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6. Scientific and Technological Entrepreneurship

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Technological entrepreneurship will be encouraged with new curricula for students, and new programs to take Rensselaer’s intellectual property to market.

6.1 Entrepreneurship Education and Research
6.2 Intellectual Property and Technology Commercialization
6.3 Creating and Supporting New Ventures

For more than 175 years, Rensselaer has exhibited a unique strength in its ability to translate scientific discoveries into practical application, a process that we refer to as technological entrepreneurship. Historically and consistently, faculty, students, and alumni have successfully developed technologies, created innovations, and formed business ventures to bring ideas into practice to create value.

Today, the Incubator program, Rensselaer Technology Park, and the Severino Center for Technological Entrepreneurship are national models. Looking ahead, rapid technological change and an emerging global marketplace present outstanding continuing opportunities for scientific and technological entrepreneurship.

6.1 Entrepreneurship Education and Research

Entrepreneurship is a way of life that springs from fundamental education and research programs. We will work to infuse understanding and encouragement of entrepreneurship through all schools and programs. Specifically we will:

  • Expand the Institute’s fundamental research activity in technological entrepreneurship and the management of innovation.

  • Teach the fundamentals of entrepreneurship — and intrapreneurship — to students across all majors, establishing a general curriculum requirement in this area.

  • Expand opportunities for students to create innovation by increasing the number of hands-on courses such as Introduction to Engineering Design, Inventors Studio, and Multidisciplinary Design Laboratory; programs such as Product Design and Innovation; and competitions such as the Formula SAE car project.

  • Provide opportunities for students to work in settings where technology is being commercialized, such as entrepreneurial faculty projects, internships, and co-op experiences.

  • Create opportunities in the Rensselaer Union and in the residence halls for students to propose, design, and implement projects, processes, and organizations.

6.2 Intellectual Property and Technology Commercialization

Research is the major driver of science and technology transfer, invention, and innovation. Technological entrepreneurship completes the technology lifecycle — from discovery to the creation of impact in the global marketplace. With an expanding research base, we will cultivate a campus culture that provides the spirit and motivation for inventors to pursue commercialization. We will:

  • Increase awareness of intellectual property, preserving its value in research agreements and maximizing its value under shared equity arrangements and licensing agreements, covering intellectual property developed in research and materials developed for distance education.

  • Create intellectual property policies that encourage entrepreneurship and allow the university to take equity positions in new ventures as appropriate.

  • Ensure that intellectual property policies have adequate and appropriate conflict of interest and conflict of commitment provisions.

  • Develop an awareness and infrastructure of intellectual property rights policies, incentives, and marketing to support innovation and commercialization.

6.3 Creating and Supporting New Ventures

World-class technological research universities excel in transferring research outputs to the commercial sector. We will create innovative programs targeted at growing major new technological ventures and creating value. We will:

  • Enhance the process of matching researchers and entrepreneurs to create new ventures that take Rensselaer intellectual property to market.

  • Provide business planning and facilitate venture capital for faculty and students for start-up companies that commercialize leading-edge Rensselaer research.

  • Expand the Incubator program to accommodate more start-ups and second-stage incubation.

  • Expand the flow of technology, talent, and ventures into the Rensselaer Technology Park and the Capital Region. Bring new focus to the Rensselaer Technology Park as the locus for mature ventures based on the technologies taught and researched at the Institute.

  • Work with private and public sources to attract new venture capital and entrepreneurial talent to the Capital Region.

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