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Investors Tap into Faculty Expertise

Posted August 8th, 2011 by admin

ITN hosted its first session to introduce a select group of investors to faculty members working on interesting engineering projects ripe for commercialization. The networking event was not meant as a funding pitch, it was meant to put smart people in a room together and see what magic happens.

This was a great first cut at connecting area angel investors with the expertise that resides on local campuses. The idea behind it being that investors can learn to tap into this expertise for things like due dillegence with potential portfolio companies, and that valuable real-world exchanges can take place. In this session, faculty from network members Messiah College and Elizabethtown College presented new developments in small scale biofuels (view video), assistive technology (view video), and dielectric spectrometry (view video). Several follow-up meetings between camps have already taken place.

A few hints on making this mix work are 1) Invite investors who are open to developing relationships and engaging expertise over the long haul. Ones who get the long-term community benefits, not just a pure investment mindset. 2) Pick faculty open to a presentation review and critique. It will be edited and shortened. 3) If possible, have faculty bring along company execs who are using the product, or working closely in the development. They add a different perspective to the presentation, especially during Q&A. 4) Make it casual and offer easy networking at the end - which probably means food and beverages.

We’re scheduling the next meeting for the end of September, this time focused on IT and software development. It’s a work in progress, but we’re excited to see where it leads.

Kickball, Rap, and Online Community Building

Posted March 14th, 2010 by admin

I’ve never considered rap and kickball an option as part of a networking event, but then again, I’ve never attended SXSW either. I’m surrounded by some of the brightest - and youngest - entrepreneurs and business owners in the world in Austin. This new crop of business owners brings an entirely different level of engagement to a conference. It’s not that these guys aren’t serious, they just interact with each other in different ways. Quite different than the formal, stuffy, executive conferences I’ve attended where golf and shopping were the off-site activities. 

Inside Saturday’s forum, developers from Foursquare and PayPal shared their views on how to incentivize web visitors to become power users. Points, contests, or in Foursquare’s case becoming “mayor”, are all ways they encourage communities to attract and retain their best web customers.  The ability to offer these power users access to early beta tests, advance information, input on design, anything that would make this group feel special, is the way to attract and retain a loyal community.

Outside the session, Foursquare armed their team with a box of low-tech chalk. The guys were busy drawing on the sidewalk encouraging attendees who crowded the lunch trucks, the SoBe tent, or who were lining up to take test rides in a new red Chevy convertible, to “check in” on Foursquare and let the world know of their real-time location.

This mixture of fun and serious business continues all day, every day here. It’s perhaps the most impressive characteristic of this group. Anil Dash, the guy behind Expert Labs government crowdsourcing  research in Washington D.C., announced he was headed to a spirited kickball game. He posted his plans on Twitter (@anildash), trying to lure competitors to the park for free tacos (at 10:30am) and fun. 

One of the keynotes was quirky Danah Boyd from Microsoft Research in New England. Dressed in gray and white striped socks and red laced boots, she regaled the hundreds in attendance with examples of recent privacy blunders on the web (Facebook and Google) suggesting “just because something is public, doesn’t mean we want it publicized.” Her final comment to developers, designers, and marketers was to make sure we are building a world we want to live in. During her presentation, two artists sketched enourmous artistic renderings of the speech, putting her ideas and thoughts into art, right there in front of us as we listened. If that isn’t creative enough, a rap artist is taking the ideas from each keynote and turning them into a musical rendition to be posted later this weekend.

Off site meet ups have been hosted by the likes of Mellow Johnny’s, the renowned local bike shop associated with Lance Armstrong. While shopping for top-notch cycling attire, attendees heard the CTO of Pixar, and Twitter execs, discuss how to leverage social media to create an effective, profitable, campaign. In the midst of all this, film hot-shots were being interviewed with the whirl of tires being aligned as the back drop.

Examples of this type of high energy interaction between the local community,  business professionals, young entrepreneurs, and event attendees takes place continuously in Austin. These guys have figured out that everyone engages in a different way. Whether it’s music, visual, face-to-face, podcasts, print or video you can find what sparks your creative engine at this event and learn from it. These are all ideas we should consider and act upon as we build and expand our own network in PA.

Millersville University Makes Big Splash at HydroWorx

Posted March 4th, 2010 by admin

HydroWorx CEO, Anson Flake, has extensive experience working with colleges and universities in his line of business. As co-founder of the company, he’s enjoyed success manufacturing and selling premium aquatic therapy pools to big name institutions and organizations in the NFL, MLB, NHL, and NCAA. I sat down with him to better understand the impact academia, and ITN, could have on expanding a business like his.

In Pa, ITN has assisted HydroWorx by connecting the company with talented faculty in graphics & design, and business at one of our members, Millersville University. Together the faculty pair led a select group of students as they compiled and ultimately presented their findings on market research and competitive analysis to company executives. From Anson’s view, the collaborative opportunity injected a small team into his company for a short-term, specialized project. As he put it, a faculty team identified by ITN is like having your own scout for research talent. ITN did the searching, calling, and connecting of faculty in his designated sweet spot while faculty did the heavy lifting guiding, leading, and supporting students as they addressed real-world issues from HydroWorx.  

According to Anson, ITN’s model of representing a group of small colleges and universities is both a pre-launch and post launch opportunity for companies. Pre-launch involves demographics, market validation, product development, packaging, messaging, the works. Post launch is all about studies to confirm and validate the product deliverable, lending further credibility to the product once it lands squarely in the market.  With so many experienced faculty to choose from, across such a broad spectrum, the odds of finding the right fit are equally as good, if not better, than working with only one institution.

For students, the experience is one more notch on the belt for those seeking every advantage in building their portfolio and getting a foot in the door as a future hire. In this case, the Millersville student’s successful data collection and information analysis was integrated into HydroWorx existing research and is being used to enhance their decision-making process. These budding professionals got the chance to understand working on a specific timeline, under pressure, and making presentations that had an impact on real business decisions, and then hearing the feedback. All while calling a dorm room home.

Back at ITN, we’ll continue to work on the challenges - coordinating schedules, improving communication, and increasing face time between companies, students, and faculty, all immersed in crammed schedules. This project was a great chance to get our feet wet with HydroWorx, and now, as we discuss our next joint effort, we’re ready to take the plunge.