This past week had an exciting start! My group for BUAD 301: Technical Entrepreneurship just presented a technology that we thought was feasible enough to use for a start up.
The goal for step one of the project was to go out in the field and find a new technological opportunity. We were encouraged to not only use resources like kickstarter but also our contacts from previous internships, professors that had research projects and students from other schools that either were working on their own start up or had friends who were. We got to meet a lot of new people and hear about how invested and excited they were in the work they were conducting. Almost all of the professors were more than happy to meet up with us during office hours or whenever they were free to talk more about the opportunities and obstacles ahead for their research.
For example, one my classmates met with a Ph.D student working on an algorithm for determining what stage people were at risk for cancer. The ability to determine whether a person is more at risk for being affected by the later stages of cancer can make the difference of helping to save that person’s life. Thus, although a fairly new technology that requires much more research, her work has a lot of potential.
Moreover, after the presentations we had the opportunity to hear from Michael Schneider, founder of MobileRoadie–a platform service that allows anyone from the producers of Taylor Swift to you to easily create an app for apple or android. He shared his ups and downs to reach where he is today. He explained how he went from developing and stabilizing a technology to actually generating a profit.
Although our group for the technology project is only a simulation, I can’t wait to start the next step: creating a business plan.