The basic mission of the Office of Innovation and Entrepreneurship (OIE) is to elevate business awareness among faculty and students and to support and initiate innovative & entrepreneurial behavior by implementing:
- Educational activities aimed at enabling the integration of technological and market knowledge into the curriculum
- Research activities that are focused on the creation of scientific breakthroughs and technological advances into economic value
- Administrative processes to improve efficiency and effectiveness of the technology transfer processes
- Infrastructure to support the innovative & entrepreneurial initiatives
The basic objectives and targets of OIE are:
Innovative Educational Initiatives
- Innovative educational initiatives will be developed across all academic units at Stevens.
- Specific lecture series will be offered for the whole Stevens community.
- An elite entrepreneurial undergraduate program for highly qualified students will be implemented.
- All undergraduate students within Stevens will have the opportunity to participate in commercialization activities such as VC events, workshops etc.
Innovative Research Initiatives
Innovative research initiatives will be developed with the support of the OIE in collaboration with all academic units at Stevens. Specific collaborative research initiatives will be developed.
Innovative Administrative Processes
OIE will implement a novel and rapid process that assists the creation and transformation of scientific breakthroughs and technological advances into economic value by combining the "technology push" that characterizes conventional technology transfer routes with the "market pull."
We expect to reduce the usual three-to-four-year time-frame for technology transfer to, at most, two years. The time savings will come primarily from eliminating the main bottlenecks in the conventional technology transfer process through direct integration of market knowledge into the invention process and by replacing the conventional, multi-step technology transfer process by a simple, three-step innovation-transfer model.
The innovation-transfer process will consist of three phases:
- market-focused invention and research;
- innovation conception and selection; and
- innovation venturing and exploitation.
The OIE will establish a supporting network of industry partners, investors and regulators to support the faculty and students in their entrepreneurship activities. An innovative incentive system will be implemented to motivate faculty and students to participate in entrepreneurship initiatives.