Vanderbilt summer business institute
IDEA
Innovation Design & Entrepreneurship in action An intensive, interdisciplinary business program for inventive undergraduates and recent college grads
Turn an idea into a produ a business plan. In just thr We give you the tools to build something more. Including a career. Vanderbilt IDEA (Innovation Design & Entrepreneurship in Action) is an intensive, three-week summer business experience that helps students bridge the gap between creative thinking and practical applications. It’s hands on. It’s fun. It’s interdisciplinary. And it will help you build marketable skills that will serve you well regardless of what career you ultimately pursue. There’s no other program quite like it.
What You Will Learn n
How to collaborate across disciplines
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How to discern the essence of an idea, identify what makes it valuable and develop a product definition
How to price products using competitive benchmarking
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Basics of retail economics and product packaging
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Sketch-based modeling
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How to identify a need and target audience for a product
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Rapid 3D product prototyping
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User-based design
Project economics and analysis (such as how much money to borrow to start a business)
Computer-aided design (CAD) & manufacturing
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How products are made and what they cost to produce
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How to deliver persuasive presentations to potential investors
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Soldering
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How to develop (and validate) a business model
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Strategies for protecting intellectual property
It’s bridging the gap between engineers and business managers. It transitions technology from something that’s in the lab and not so practical into something that can actually be commercialized. Erik Werner Staff Engineer Vanderbilt University
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Specific, market-driven technical skills, including:
uct and into ree weeks. Building a Real Product—and a Real Business Plan. IDEA curriculum involves a dynamic mix of classroom learning and hands-on experience, including instruction from professors, lectures by expert guest speakers and lab/shop work sessions. The centerpiece of the program involves using a specific technology as the basis of an idea for a new product. Working in cross-disciplinary teams, under the guidance of business and engineering faculty, you’ll create a design, identify target markets for the product, build a working prototype, develop cost projections and pricing strategies and make a formal presentation to a “Shark Tank” team of entrepreneurs who serve as potential investors and provide real-time feedback.
Challenge of 2013: Innovative Consumer Uses for BlueTooth In 2013, each IDEA team was challenged to design a product around a transmitter chip set with inputs that would send Bluetooth commands. Among the products they built: n
A device that enables users to unlock doors to their home without keys or ID cards
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A call button to summon wait staff at restaurants
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A baby monitor sensitive to temperature changes
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Application-specific remote control devices for tasks such as navigating your car
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The winner: A child’s teddy bear that doubles as a controller for video games
IDEA is designed specifically for students who: n
Are interested in working for a startup or venture
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Are interested in working in a creative or technical role at a company like Apple, Google or IDEO
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Want to apply their interests in graphic or web design, product design, tinkering or making
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Major in studio arts, performance arts, design (2D or 3D), computer science, any engineering discipline, economics or business
We wanted to create something that would help people understand what it takes to be an entrepreneur. David Owens, PhD Clinical Professor of Business, Strategy & Innovation; Accelerator Faculty Director; IDEA Creator Vanderbilt University | Owen Graduate School of Management
Admissions Criteria 1. Able to work in a team 2. Willingness to explore and be hands-on 3. Rising Sophomore or higher How to Apply Complete an Accelerator application + submit a portfolio piece (This should describe a project where you, or a team that you were on, made an idea come to life. Please include pictures as well as the actual description.)
Program Cost | $6500 Key Dates/Info Sessions n Program Dates | May 31st – June 19th, 2015 Deadlines n Accelerator Round 1 Deadline | Tuesday, Feb 17, 2015 n Accelerator Round 2 Deadline | Tuesday, Mar 17, 2015 n Accelerator Round 3 Deadline | Tuesday, Apr 14, 2015
Your Program Directors David Owens, PhD Clinical Professor of Business, Strategy & Innovation; Accelerator Faculty Director David Owens, who holds joint appointments at both the Vanderbilt School of Engineering and Vanderbilt Owen Graduate School of Management, is a leader in the areas of business strategy, innovation process and product development. His work has included engagements with NASA, LEGO and Bristol-Myers Squibb. He has also consulted on product design for firms such as Daimler-Benz and Apple Computer, and he was CEO of Griffin Technology, the largest consumer electronics firm in the MP3/iPod accessory market space. His research has been featured in The New York Times, The Wall Street Journal, London’s Guardian newspaper and NPR’s “Marketplace.”
Jon Lehman Adjunct Professor of Management Vanderbilt Executive Development Institute, Faculty Director An entrepreneur and private investor focusing on health care, technology and education-related companies, Jon Lehman previously served as President and CEO of Evolved Digital Systems, a leading provider of digital-based image and information management systems for the health care industry and Executive Vice President and Director of Futurekids, Inc., an international computer training publisher that helped K-12 schools use technology to transform education. He also founded and served as Principal of The Section Companies, a consulting and private investment firm whose clients included The Walt Disney Company and Ziff-Davis.
Learn how to bring ideas (and your career) to life. To apply or learn more, visit owen.vanderbilt.edu/accelerator/IDEA Or call us at 615.322.6795.
Vanderbilt Summer Business Institute IDEA ®
Vanderbilt University Owen Graduate School of Management 401 21st Avenue South Nashville, TN 37203-2422
Telephone: 615.322.6469 Fax: 615.343.1175 Email: accelerator@owen.vanderbilt.edu Web: owen.vanderbilt.edu Hours: 8:30 AM – 5:00 PM, US Central Time
©2015 Vanderbilt and the Vanderbilt logo are registered trademarks and service marks of Vanderbilt University. REV. 01/15 Vanderbilt University is committed to principles of equal opportunity and affirmative action. Visit owen.vanderbilt.edu for Vanderbilt University’s complete EEO and affirmative action statement.