{"id":72753,"date":"2013-02-13T10:21:50","date_gmt":"2013-02-13T15:21:50","guid":{"rendered":"https:\/\/today.uconn.edu\/?p=72753"},"modified":"2015-10-02T12:27:25","modified_gmt":"2015-10-02T16:27:25","slug":"uconn-engineers-train-for-new-business-creation","status":"publish","type":"post","link":"https:\/\/today.uconn.edu\/2013\/02\/uconn-engineers-train-for-new-business-creation\/","title":{"rendered":"UConn Engineers Train for New Business Creation"},"content":{"rendered":"
\"Vishal<\/a>
Vishal Dhagat, a Ph.D. student in engineering, presents an idea during a course designed to support graduate students with potential entrepreneurial ideas. (Sean Flynn\/UConn Photo)<\/figcaption><\/figure>\n

UConn graduate students Joseph Mummert and Thuy Pham didn\u2019t give much thought to the business side of biomedical engineering when they started pursuing their bachelor of science degrees years ago.<\/p>\n

But the world is a much different place now. So there they were, two topflight young researchers, standing up in a recent class, each presenting detailed business plans for new heart valve products they helped develop to a potential investor.<\/p>\n

With only 90 seconds to present an \u201celevator pitch\u201d to Kathy F. Rocha, managing director of Golden Seeds, a private equity angel investment firm, Mummert and Pham efficiently explained how their products targeted an important need, helped patients avoid costly surgeries, and represented vast improvements over existing devices on the market.<\/p>\n

Afterward, Rocha critiqued each student\u2019s presentation, giving them important insider advice about what investors want to hear, what information they must be prepared to provide, and what they can expect when they repeat their pitch to other potential investors in the coming months.<\/p>\n

\u201cThe fact that UConn has a program that builds out the entrepreneurial side of students is fantastic,\u201d says Rocha, who has judged similar presentations for the Harvard Business School and helped support business startups in the tech-savvy environs of Cambridge, Mass. \u201cThe more we can do \u2026 the more it will help set UConn apart from other universities.\u201d<\/p>\n

A new wave of programs<\/strong><\/p>\n

Professor Kazem Kazerounian, interim dean of UConn\u2019s School of Engineering, says the class \u2013 Experiential Technology Entrepreneurship I and II<\/i> \u2013 is part of a new wave of programs and training sessions being offered at the school to promote student and faculty innovation and entrepreneurship. The class also reflects UConn\u2019s larger, university-wide commitment to helping Connecticut\u2019s economy grow through the development of new high-tech businesses and jobs.<\/p>\n

Gov. Dannel P. Malloy\u2019s 2013 \u201cNext Generation Connecticut\u201d initiative is expected to further enhance UConn\u2019s core engineering programs by greatly expanding educational opportunities, research, and innovation in the science, technology, engineering, and math (STEM) disciplines at UConn. The initiative calls for increasing student enrollment in engineering and other STEM disciplines, improving existing buildings and research labs, and adding more than 200 new faculty researchers in order to drive discovery, produce new patents, and create new businesses.<\/p>\n

This class … gives us confidence. While we all have strong engineering backgrounds, this gives us the business knowledge that is key to succeeding in the world today.<\/p><\/blockquote>\n

The business plans the UConn students presented to Rocha are real and based on real advances in research at the state\u2019s flagship university that have developed to the stage where the student entrepreneurs and their supervising professors are ready to start building prototypes and bringing products to market.<\/p>\n

As the spring term begins, the course has already hatched four new businesses, with another six poised to launch later this year. (Read profiles of all 10 companies<\/a>.)<\/p>\n

Pham\u2019s novel heart valve device to correct mitral regurgitation without open heart surgery was designed with UConn associate professor Wei Sun. The durable tissue heart valve at the root of Mummert\u2019s business plan also was developed in conjunction with Sun, an expert in cardiovascular biomaterials.<\/p>\n

UConn master of science candidate Alicia Echevarria, working with assistant professor Arash Zaghi, earlier this year launched a consulting firm specializing in state-of-the-art, fiber-reinforced columns for bridges, highways, and other applications. The columns offer superior resistance to seismic shock, blasts, and other hazards.<\/p>\n

Ph.D. candidate Vishal Dhagat is developing a cell phone app that allows diabetics to monitor their glucose levels in real time, and materials science and engineering post-doc Yanbing Guo is working on a low-cost, highly efficient catalytic converter that uses nanotechnology to reduce manufacturing costs and improve performance.<\/p>\n

Innovative solutions<\/strong><\/p>\n

The class is led by professor of practice Hadi Bozorgmanesh, senior director of engineering and physical science ventures for UConn Ventures, a branch of UConn\u2019s Office of Economic Development that helps faculty and staff create new businesses based on their innovative technologies. Bozorgmanesh is a 30-year veteran of technology development and commercialization who built his career helping companies find innovative solutions to technical problems as corporate vice president for the Science Applications International Corp. (SAIC). Bozorgmanesh, who has a Ph.D. in nuclear science and engineering, is the co-inventor of a number of nuclear and non-nuclear based instrumentations in the areas of energy, transportation, and national security.<\/p>\n

\"Professor<\/a>
Professor of practice Hadi Borzogmanesh addresses the class. (Sean Flynn\/UConn Photo)<\/figcaption><\/figure>\n

A UConn alum, Bozorgmanesh \u201970 (ENG) considers himself a mentor to his students, helping them augment their technical proficiencies with the critical business knowledge and leadership skills they\u2019ll need to find success in a globally-competitive world.<\/p>\n

\u201cWhat we want to do is to build a culture that embraces the monetization of innovative ideas and provides the skills needed to put those ideas into practice,\u201d he says. \u201cThis culture will enrich students in diverse degree programs across the entire university, and it will contribute to the state through economic development.\u201d<\/p>\n

Bozorgmanesh\u2019s hands-on business training class includes frequent guest lectures by business leaders from the start-up industry who talk to the class about avoiding the common pitfalls of startups; securing intellectual property (IP) protection; identifying and assessing commercial opportunities; developing effective marketing approaches; and finding available avenues for financing and venture capital support.<\/p>\n

Later in the year, the student entrepreneurs will \u201cjob shadow\u201d CEOs, chief technology officers, human resource personnel, venture capitalists, tax specialists, and other decision makers so they may experience first-hand the myriad tasks and responsibilities entailed in operating a business, whether it be a startup or a large organization.<\/p>\n

As the new businesses advance, the challenge to obtain funding will grow more urgent. The students can compete for \u201cInnovation Pathfinder\u201d seed funding from the School of Engineering. The awards are intended to sustain student startup businesses in the vulnerable earliest stages, when the young entrepreneurs are consumed with registering with the state, applying for patent protection, prototype development, and pursuing additional funding, according to Bozorgmanesh. Several newly launched startups from the class received Pathfinder funding in December.<\/p>\n

Finding a new comfort zone<\/strong><\/p>\n

The change in the students has been remarkable, Bozorgmanesh says. Many of the students were cautious about stepping out of their engineering comfort zone when the academic year began. Now, they are confident and more prepared.<\/p>\n

\"Ph.D.<\/a>
Ph.D. student Vishal Dhagat speaks during the class. (Sean Flynn\/UConn Photo)<\/figcaption><\/figure>\n

\u201cThe course has helped me to view myself as a businesswoman in addition to a civil engineer,\u201d says Echevarria. \u201cIt is one thing to develop something great in research. It is another thing to see it used in society.\u201d<\/p>\n

Bozorgmanesh is quick to point out that innovation and entrepreneurship isn\u2019t limited to new business. He reminds his students about \u2018intrapreneurship,\u2019 which is the act of behaving like an entrepreneur while working within a large organization.<\/p>\n

\u201cStarting a business isn\u2019t what defines an entrepreneur,\u201d Bozorgmanesh says. \u201cA savvy person might be employed by a large organization and still be innovating and entrepreneurial. Innovation is not just inventing a new widget. It\u2019s doing things differently, taking a different tack and experimenting.\u201d<\/p>\n

The students in Bozorgmanesh\u2019s class are the type of talented, resilient, high-achievers UConn \u2013 and the state of Connecticut \u2013 are counting on to help strengthen Connecticut\u2019s economy into the future. They know what they need to do, and they want to succeed.<\/p>\n

\u201cAny kind of experience we can get in the business field is invaluable,\u201d says Jeffrey T. Peterson, a master of science candidate who, according to his business card, is also chief operating officer of Herman and Peterson Engineering, a company Peterson formed with his engineering classmate, Adam Herman.<\/p>\n

Peterson and others in the class are aware that Harvard, Stanford, and other top universities are offering similar entrepreneurial training programs to their students. They said they appreciate UConn offering them the opportunity to hone their business skills so they can stay competitive and at the top of their field.<\/p>\n

\u201cThis class is great,\u201d Mummert says. \u201cIt gives us confidence. While we all have strong engineering backgrounds, this gives us the business knowledge that is key to succeeding in the world today.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

A new graduate class is part of a wave of new programs and training offered by the School of Engineering to promote student and faculty innovation and entrepreneurship.<\/p>\n","protected":false},"author":12,"featured_media":72775,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"wds_primary_category":0,"wds_primary_series":0,"wds_primary_attribution":0,"footnotes":""},"categories":[1866,1731,1],"tags":[],"magazine-issues":[],"coauthors":[44],"class_list":["post-72753","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-engr","category-entrepreneurship","category-uncategorized"],"pp_statuses_selecting_workflow":false,"pp_workflow_action":"current","pp_status_selection":"publish","acf":[],"publishpress_future_action":{"enabled":false,"date":"2026-06-18 04:33:15","action":"change-status","newStatus":"draft","terms":[],"taxonomy":"category","extraData":[]},"publishpress_future_workflow_manual_trigger":{"enabledWorkflows":[]},"_links":{"self":[{"href":"https:\/\/today.uconn.edu\/wp-rest\/wp\/v2\/posts\/72753","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/today.uconn.edu\/wp-rest\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/today.uconn.edu\/wp-rest\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/today.uconn.edu\/wp-rest\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/today.uconn.edu\/wp-rest\/wp\/v2\/comments?post=72753"}],"version-history":[{"count":6,"href":"https:\/\/today.uconn.edu\/wp-rest\/wp\/v2\/posts\/72753\/revisions"}],"predecessor-version":[{"id":104892,"href":"https:\/\/today.uconn.edu\/wp-rest\/wp\/v2\/posts\/72753\/revisions\/104892"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/today.uconn.edu\/wp-rest\/wp\/v2\/media\/72775"}],"wp:attachment":[{"href":"https:\/\/today.uconn.edu\/wp-rest\/wp\/v2\/media?parent=72753"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/today.uconn.edu\/wp-rest\/wp\/v2\/categories?post=72753"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/today.uconn.edu\/wp-rest\/wp\/v2\/tags?post=72753"},{"taxonomy":"magazine-issue","embeddable":true,"href":"https:\/\/today.uconn.edu\/wp-rest\/wp\/v2\/magazine-issues?post=72753"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/today.uconn.edu\/wp-rest\/wp\/v2\/coauthors?post=72753"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}