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Month: February 2014

Professor Frank Hoy Wins National Award for Lifetime Achievement in Entrepreneurship

Posted in Research

WPI School of Business Professor, Frank Hoy was presented with the Max X. Wortman Jr. Award for Lifetime Achievement in Entrepreneurship by the United States Association for Small Business and Entrepreneurship (USASBE) at its 2014 conference in Fort Worth, Texas, on January 9.

This award recognizes a lifetime in entrepreneurial achievement that encompasses the ideals on entrepreneurial activity. Eligibility extends to members who have engaged in successful venture creation, and to those whose life’s pursuits supported and advocated entrepreneurial ideals.

Director of the Collaboration for Entrepreneurship and Innovation and the Paul R. Beswick Professor of Innovation and Entrepreneurship at WPI, Hoy was recognized by his peers for playing a leadership role in advancing entrepreneurship education and research. He has been an active member of USASBE for many years and served as its president in 2003. He continues a long, distinguished career spanning three decades, contributing in outstanding ways to education, research, and practice – starting and growing numerous ventures. Additionally, he has published more than 50 academic articles on small business and entrepreneurship, and coauthoring nine books and textbooks.

Dr. Keith Sawyer, Researcher on Creativity and Innovation, has a round-table discussion with IGERT students

Posted in Research

Today IGERT students had a round-table discussion with Dr. Keith Sawyer, a visiting professor from UNC and a researcher on creativity and innovation. After introductions, Dr. Sawyer started off talking about the differences in ‘innovation culture’ of today’s society verses one in the 1960s. More recently, innovation is become trendy and companies are starting to recognize the need for an innovative mindset in all aspects of company transactions rather than just the R&D department alone.

Dr. Sawyer highlighted the past challenges of transferring knowledge from the R&D division to the manufacturing division. Sometimes researchers develop a new technology and felt as if they were ‘throwing it over a wall’ hoping that someone on the manufacturing side would catch it. The classic example is with Xerox PARC whose researchers developed a computer complete with mouse and graphical user interface, but when presented it to other departments of the company, no one seemed to value the innovation as a marketable product.  However, when Steve Jobs invited by a friend toured Xerox PARC he immediately recognized the personal computer as a radical innovation that would change the world and started the line of Macintosh computers.

One of the challenges with commercializing innovation is first recognizing that what you have is a useful product that could meet an unmet market need. The goal of the WPI IGERT is to teach IGERT students how to recognize translatable applications of their research and to find ‘uses’ of the basic research they are doing in the lab.

Dr. Sawyer has written a book about innovations and collaborations entitled ‘Group Genius: The Creative Power of Collaboration’. He talked briefly about companies patenting inventions that they don’t really know how to pursue in hopes that someday someone might have an application and license their invention to market as part of a profitable product creating a ‘patent thicket’. In order to produce the best innovation, companies may have to acquire patents own by other companies. Although this may hinder development of innovations, it requires companies to collaborate if they share patents needed to form the best product. Again, there are parallels to the Gateway community. The IGERT is meant to be interdisciplinary as ‘BioFabriacation’ cannot be lumped into one department, but encompasses a multitude of different ones. Students in the program have access to professors in intersecting fields facilitating both collaboration and innovative problem solving.

In conclusion, the IGERT program is training students both to have an innovative mindset and to form collaborations. Both attributes as Dr. Sawyer highlighted, is clearly needed by companies today especially in the biomedical field to create translatable products with high consumer value. In a culture where the motto ‘Innovate or die’ is becoming more and more real, these skills are needed for the continued production of quality medical products and devices and the persistence of strong companies.