by Frank Koe, PhD

There are many advantages of living in Happy Valley: the friendly community, the access to cultural and sporting events, the diversity that Penn State brings to central Pennsylvania, the gorgeous surroundings and availability of so many outdoors activities. There is truly something for just about everyone.

But Happy Valley is not without its drawbacks. Geographically, we are fairly isolated, located about four hours from several metropolitan areas. Unlike these major cities where resources and opportunities are plentiful, we are simply at a disadvantage in some arenas.

This is especially evident for the entrepreneurially minded in our community – including the would-be entrepreneurs in our academic circles. Fortunately, we do have Lion Launch Pad, Global Entrepreneurship Week, Start-Up Week and the university-wide entrepreneurship and innovation minor that continues to grow and develop. Nonetheless, challenges remain to expand connections and entrepreneurial activities beyond our university.

In an effort to stretch the boundaries and immerse students into the real-world rigors of entrepreneurship, a proposal has been submitted by Penn State to the Department of Community & Economic Development to create a program aimed at sharing entrepreneurial resources and hosting regional student entrepreneurship competitions. If the proposal is approved, funds will be used to seed innovative ideas that promote entrepreneurship, tech transfer and increase awareness and expansion of resources to assist budding entrepreneurs at Bucknell, University of Pittsburgh at Johnstown, and Penn State. Goals include exposing nearly 5,000 students to entrepreneurship, potentially creating up to 30 new businesses and 30 new technologies by young entrepreneurs, and coordinating activities, experiences and services for undergraduate students.

For more information about the plans for this entrepreneurship program, contact Maria Spencer, business consultant, Small Business Development Center and Pennsylvania Technical Assistance Program (PennTAP), at mtk15@psu.edu.

Frank T. Koe, Ph.D. is an associate professor of engineering entrepreneurship within the School of Engineering Design, Technology and Professional Programs (SEDTAPP) at Penn State. Accomplishments include founding his own sporting good accessory business that focuses on hunting and fishing. Products can be seen in Dick’s Sporting Goods, Walmart and other outlets nationwide. His entrepreneurial academic experiences include serving as associate director of the Berkley Center for Entrepreneurial Studies, Stern School of Business, New York University, and dean of the Baker School of Business and Technology at Fashion Institute of Technology, New York, NY.

by Dr. Tim Simpson

If you are student, undergraduate or graduate, or faculty member wanting to do entrepreneurial “things” and haven’t heard of New Leaf Initiative yet, you are missing out on some great networking opportunities and are probably not aware of the new coworking space that is opening this February in State College.

New Leaf started more than 3 years ago by Spud Marshall, Christian Baum, and Eric Sauder, and has become an integral member of our local entrepreneurial ecosystem. When New Leaf first opened, it operated out of 100 South Fraser Street—across the street from Hammond Building, beneath Dunkin Donuts, the same place Freeze Thaw Cycles began. Marshall and Baum have since spun-out co.space, leaving Sauder and Serena Fulton, the newest edition to the team, to run New Leaf.

Now, New Leaf is on the verge of opening a 2,500 sq. foot coworking space in the 3rd floor of the State College Borough Building, located at 243 South Allen Street, one building south of the Schlow Library. New Leaf offers a variety of coworking memberships, which provide either 10, 20, or 40 hours per week of access to desks and private meeting space. The rates are reasonable and all inclusive, and more than 20 companies and local entrepreneurs have signed up thus far (full house is about 36 members, and they are gunning for >80% occupancy when they open next month).

So how do I know so much about New Leaf and their new endeavor?  Well, New Leaf has been my “secret office” in town while I’ve been on sabbatical (did you see me in their photos yet?). Working at New Leaf has provided unique insight into our local entrepreneurial ecosystem, from literally right across the street. It has been a great way to network with local entrepreneurs in a range of industries, as well as get to know people working in the Borough and Chamber of Business and Industry Centre County. There are some phenomenal people who are working very hard to make State College and Happy Valley a mecca for recruiting talented entrepreneurs into the area and, more importantly, providing opportunities to students and alumni to stay in the area to work on their latest invention and innovation. I’ve been renting my own desk space in New Leaf, and I’ve lost count of how many students and faculty I’ve helped connect to local ecosystem. It’s worked equally well in reverse, as I’ve been able to help connect many local entrepreneurs with people and resources at Penn State. In fact, being on the outside this year has been very eye opening in many regards, including how difficult it is for local entrepreneurs to navigate the wealth of resources at Penn State and connect with the right people (maybe it’s time for a 1-800-PSU-ESHIP number?).

There are other incubators and office spaces in town, and Penn State is involved with two facilities: (1) Technology Center at Innovation Park and (2) Zetachron in Science Park. Rates vary depending on what you need (e.g., $14-16/sq. ft. for office space; $20/sq. ft. and up for wet lab space), and there are some cool start-ups incubating there now. More important, however, is the list of successful former tenants of which I was previously unaware. It’s an impressive list when you read it.

I think New Leaf’s coworking space will complement these existing incubator spaces well and provide a shared working space within walking distance of campus, which may be attractive to students and faculty just starting out on their entrepreneurial journey. I’ve put down my own money (not PSU’s money or my grant money) for a 10hr/week membership, and I’m looking forward to helping shape the culture in this new space while continuing my entrepreneurial cross-training.

If this interests you and you want to learn more the New Leaf Initiative and their coworking space, check out the Grand Opening is Wed, Feb. 5 from 4-6pm in 243 South Allen Street.

Tim Simpson is a professor in both mechanical engineering and industrial engineering. He holds affiliate appointments in the School of Engineering Design, Technology, and Professional Programs (SEDTAPP) and the College of Information Sciences & Technology. From 2007-2012, he served as director of the Learning Factory, and now he serves as co-Director of the Center for Innovative Materials Processing through Direct Digital Deposition (CIMP-3D), a DARPA-funded Manufacturing Demonstration Facility for Additive Manufacturing. This is his second sabbatical. 

by Dr. Tim Simpson

So what does it really take to get a good idea to market? How much of that can I do as a faculty member and how do I avoid conflicts of interest with my research and my students? How should I be advising my graduate students to take their ideas forward and what should I be teaching undergraduates interested in design innovation?

These are the sorts of questions that I’m investigating by immersing myself in our local entrepreneurial ecosystem during my sabbatical. I’m hoping that this “entrepreneurial cross-training” will provide insight not only into the problems that we encounter (as faculty and as students) in bringing ideas to market but also into the “innovation assets” that are available to help at Penn State and in our local ecosystem.

What I have seen thus far is both exciting and overwhelming. It is exciting because there is considerably more going on now than there was five years ago, let alone last year. At the same time, it is overwhelming because there is so much going on across departments and colleges. While small pockets of activities may be coordinated, there is little to no coordination of these entrepreneurial activities across the university, which is both good and bad. Good because we need to explore many different models for innovation and tech transfer in order to learn what works best within our institutional culture. It’s bad when efforts are duplicated and resources are wasted, or we miss synergies between those with the passion and energy to get things done and those trying to effect change. Like any other large organization that struggles with getting everyone on the same page, we need to find new ways to communicate effectively about something that was on few people’s radar screens last year.

So while I don’t have all the answers, and I never will, I at least know the questions to ask. This is where learning starts—when you realize that you don’t know something, and you can start to ask questions and find the right people to answer them. To share where I am at in my learning, here are the questions you should be asking yourself:

Undergraduate Students

• Do you know that you own the Intellectual Property (IP) that you develop in your class projects?
• Are you aware of the new university-wide minor in entrepreneurship and innovation?
• Do you know about Innoblue?  Lion LaunchPad?  Nittany Entrepreneurs?
• Are you aware of the business plan and innovation competitions in Ag, Business, and Engineering? The seed funding available through SparkPlug.net?
• Do you know how to access the open source 3D printing resources at Penn State? The design and prototyping resources available in The Learning Factory?
• Have you talked to any students that have run Kickstarter campaigns?
• Do you know what SBDC is?
• Do you know about New Leaf?  co.space? Surge?
• Do you know any local entrepreneurs?

Graduate Students

• Do you know that Penn State owns the IP from your research?
• But did you know that you own the IP from your class projects as long as it isn’t tied to your research?
• Have you watched OTM’s new IP Training Module? Do you know what OTM is?
• Do you know how to file an invention disclosure?
• Have you heard of TechCelerator?  Do you know what Ben Franklin is?
• Have you ever heard of an NSF iCorps grant? SBIR/STTR grants?
• Do you know any graduate students that have spun-out companies based on their research?
• Do you know any local entrepreneurs that were once graduate students like you?

Faculty

• Did you know that Penn State owns your IP? Are you aware of Penn State’s new IP policy for industry-funded research?
• Do you know what OTM is? Have you seen OTM’s new Inventor’s Toolkit?
• Have you ever filed an invention disclosure? Do you know how Penn State manages its IP and decisions about patents?
• Have you ever tried to license something developed as part of your research? Do you know Penn State’s royalty return rates? Do you know what PSRF is?
• Do you know the Conflict of Interest policies for faculty start-ups?
• Do you know any faculty that have an NSF iCorps grant? SBIR/STTR grants?
• Have you ever sponsored a Learning Factory project to prototype an idea?
• Have you heard of TechCelerator? Do you know what Ben Franklin is and what they fund?
• Do you know any faculty that have started a company?
• Do you know that you can use your consulting time to work on your start-up?

Finding the solutions is the tough part. It requires work and lots of networking, and then more networking, and more networking, which is what I’m spending most of my time doing on sabbatical. I’m co-working in New Leaf, helping organize events for co.space, advising the development of networking website for State College, HappyValleyStartUps, helping a former graduate student launch and grow DecisionVis, participating in TechCelerator and “triage sessions” to see how Ben Franklin and SBDC work with faculty, sitting in on Cool Blue Mentoring meetings to see how MIT’s Venture Mentoring Services gets adapted to our ecosystem, and attending SCORE workshops to meet others in the community, shadowing local entrepreneurs and start-ups to hear their stories, talking to students about commercializing their ideas, co-developing a product based on what I’ve learned, and figuring out what and how to bring all this back into Penn State to benefit our faculty, students, and tech transfer opportunities because we are lagging behind many other universities.

Why are we behind? It’s not for lack of trying mind you. We have a phenomenal entrepreneurial ecosystem emerging here, and everyone is doing the best they can with the time they have. If this interests you, then get involved and share your ideas and input on ways to improve our ecosystem and help answer the questions you have about getting your ideas to market.

Tim Simpson is a professor in both mechanical engineering and industrial engineering. He holds affiliate appointments in the School of Engineering Design, Technology, and Professional Programs (SEDTAPP) and the College of Information Sciences & Technology. From 2007-2012, he served as director of the Learning Factory, and now he serves as co-Director of the Center for Innovative Materials Processing through Direct Digital Deposition (CIMP-3D), a DARPA-funded Manufacturing Demonstration Facility for Additive Manufacturing. This is his second sabbatical. 

by Frank T. Koe, Ph.D.

Global Entrepreneurship Week at Penn State will take place at University Park from November 17 to 22, 2013.

Successful and up-and-coming business owners will be on hand to provide support and encouragement to budding entrepreneurs via the broad variety of activities, competitions, and lectures. All events are free and open to students and the public.

Global Entrepreneurship Week is celebrated in 140 countries worldwide. Penn State’s event placed fourth in the country last year, based on attendance and number of events held. With more than 50 exciting events scheduled throughout the week, the Global Entrepreneurship Week at Penn State organizing team is optimistic that the results will be better than fourth place this year (right now we’re #1 in the USA!).

Follow Global Entrepreneurship Week at Penn State on Facebook or visit the website for updates on scheduled events and activities.

Frank T. Koe, Ph.D. is an instructor in entrepreneurship within the School of Engineering Design, Technology and Professional Programs (SEDTAPP) at Penn State. Accomplishments include founding his own sporting good accessory business that focuses on hunting and fishing. Products can be seen in Dick’s Sporting Goods, Walmart and other outlets nationwide. His entrepreneurial academic experiences include serving as associate director of the Berkley Center for Entrepreneurial Studies, Stern School of Business, New York University, and dean of the Baker School of Business and Technology at Fashion Institute of Technology, New York, NY.

by Frank Koe, Ph.D.

Great news for students interested in entrepreneurship! The Penn State Faculty Senate approved the Intercollege Minor in Entrepreneurship and Innovation (ENTI) this summer, which gives entrepreneurial-minded students the opportunity to apply these principles in one of five concentrations:

• Food and Bio-innovation
• New Media
• New Ventures
• Social Entrepreneurship
• Technology-Based Entrepreneurship

My colleague in the School of Engineering Design, Technology and Professional Programs, Liz Kisenwether, serves as director of the minor and has told me that she expects the number of concentrations to grow as other colleges across Penn State participate in the program.

All students enrolled in the minor take the same three foundational courses then select three additional courses from a wide array of choices available in each concentration. This means that students are able to apply entrepreneurship to the area of study they are most interested in, making the entrepreneurship minor a truly practical undertaking.

For more information about the minor, including details about how to apply and the courses in each concentration, visit the ENTI minor website.

Frank T. Koe, Ph.D. is an instructor in entrepreneurship within the School of Engineering Design, Technology and Professional Programs (SEDTAPP) at Penn State. Accomplishments include founding his own sporting good accessory business that focuses on hunting and fishing. Products can be seen in Dick’s Sporting Goods, Walmart and other outlets nationwide. His entrepreneurial academic experiences include serving as associate director of the Berkley Center for Entrepreneurial Studies, Stern School of Business, New York University, and dean of the Baker School of Business and Technology at Fashion Institute of Technology, New York, NY.