Science & Technology Management Capstone
I believe that I am learning about the most in the Capstone course which brings together everything taught in the business and science courses. Since it is a group project-based course where we are required to create a business plan from technology, it is the direct application of all that we have learned in the business courses. In addition to that, it helps us understand what things to consider when starting a business - how to create a business model, select markets, how to determine valuation and growth strategies, exit plan and much more. Along with the requirements of the course, I am learning a lot by media monitoring, and gaining new insights every week through insightful class discussions.(May 2019)
I left the Capstone course feeling a sense of overwhelming satisfaction. I feel I have learned the most in this class as everything I have practiced and experienced in classes prior and in my company came together with a new team that I had never worked with before.
The capstone course is a project-based course covering the fundamentals of entrepreneurship, intra-preneurship, innovation commercialization, and intellectual property. Students are expected to work on team projects analyzing technology innovations and creating business plans. To be eligible for this course, students must have successfully completed 16:137:502, 16:137:530, and a marketing course.
This course prepares engineers for business by cultivating the skills needed to manage new product development whether in a startup venture or larger corporate enterprise. Course topics include a thorough introduction to the mechanics of vetting business ideas, intellectual property, leveraging software and internet resources to maximize operational efficiency, company valuation using discounted cash flows, financing and attracting venture capital, business case analysis, using performance metrics to monitor business development, and a lab segment where students can apply course material to business plan development. Students will gain the conceptual tools and mastery of resource implementation to address key concerns encountered during the innovation commercialization process such as determining how much my invention is worth, which methods of legal protection for my ideas are most applicable, how can market research be used to evaluate the feasibility of starting a business, and how to master the process of launching and growing successful enterprises.