Integrating biomedical engineering with entrepreneurship and management: An undergraduate experience

Robert Allen, Lawrence B. Aronhime, Artin A Shoukas, John C. Wierman

Research output: Chapter in Book/Report/Conference proceedingConference contribution

Abstract

We describe aspects of our cross-disciplinary efforts between biomedical engineering and entrepreneurship and management. Specifically, we describe how these disparate programs are being integrated to encourage interaction between students, faculty and administrators to develop technical prototypes with market potential. In biomedical engineering, a design program is in place where 10-13 teams of 10 undergraduate students each work on independent projects annually posed by sponsors such as researchers, clinicians and individuals in need. The design projects culminate in a prototype and final report. About 1/4to 1/2 of these projects have potential for commercial application. In entrepreneurship and management, a program exists where teams of between three and five undergraduate students develop business plans for ideas that are proposed to them by biomedical engineering students. Business plans for projects with commercial potential examine factors necessary to convert the project idea into a viable enterprise. Such issues include market size, revenue and reimbursement, market penetration strategies, costs of operations, legal issues, return on investment, roles of the founding entrepreneurs, sources of funding, harvest strategies, and negotiating deals. To date, four technical teams have successfully collaborated with entrepreneurship teams to generate a prototype and an associated business plan to market a product based on the prototype.

Original languageEnglish (US)
Title of host publicationASEE Annual Conference Proceedings
Pages8511-8517
Number of pages7
StatePublished - 2003
Event2003 ASEE Annual Conference and Exposition: Staying in Tune with Engineering Education - Nashville, TN, United States
Duration: Jun 22 2003Jun 25 2003

Other

Other2003 ASEE Annual Conference and Exposition: Staying in Tune with Engineering Education
CountryUnited States
CityNashville, TN
Period6/22/036/25/03

Fingerprint

Biomedical engineering
Students
Industry
Bioelectric potentials
Costs

ASJC Scopus subject areas

  • Engineering(all)

Cite this

Allen, R., Aronhime, L. B., Shoukas, A. A., & Wierman, J. C. (2003). Integrating biomedical engineering with entrepreneurship and management: An undergraduate experience. In ASEE Annual Conference Proceedings (pp. 8511-8517)

Integrating biomedical engineering with entrepreneurship and management : An undergraduate experience. / Allen, Robert; Aronhime, Lawrence B.; Shoukas, Artin A; Wierman, John C.

ASEE Annual Conference Proceedings. 2003. p. 8511-8517.

Research output: Chapter in Book/Report/Conference proceedingConference contribution

Allen, R, Aronhime, LB, Shoukas, AA & Wierman, JC 2003, Integrating biomedical engineering with entrepreneurship and management: An undergraduate experience. in ASEE Annual Conference Proceedings. pp. 8511-8517, 2003 ASEE Annual Conference and Exposition: Staying in Tune with Engineering Education, Nashville, TN, United States, 6/22/03.
Allen R, Aronhime LB, Shoukas AA, Wierman JC. Integrating biomedical engineering with entrepreneurship and management: An undergraduate experience. In ASEE Annual Conference Proceedings. 2003. p. 8511-8517
Allen, Robert ; Aronhime, Lawrence B. ; Shoukas, Artin A ; Wierman, John C. / Integrating biomedical engineering with entrepreneurship and management : An undergraduate experience. ASEE Annual Conference Proceedings. 2003. pp. 8511-8517
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