engineering unleashed
TRANSCRIPT
DOUGLAS MELTONKERN FAMILY FOUNDATION
ENGINEERING UNLEASHED
3. HOW CAN ENTREPRENEURIAL THINKING BE LEARNED?
2. WHERE ARE THE “LEVERAGE POINTS”?
1. WHAT IS ESSENTIAL FOR PROGRESS & HUMAN FLOURISHING?
25-YEAR RESEARCH QUESTIONS
Vision 76%
Passion 73%
Drive64%
Integrity53%
Innovation49%
Risk-taker46%
http://online.wsj.com/article/SB10001424052970204603004577267271656000782.htmlFrom survey of 685 entrepreneurs. Source Online WSJ,
March 20th, “Can Entrepreneurship Be Taught?”
Resilience42%
Pro-Activeness
Relentless customer focusAbility to team
Flexibility
3. HOW CAN ENTREPRENEURIAL THINKING BE LEARNED?
THE ENGINEER WE NEED HAS AN ENTREPRENEURIAL MINDSET COUPLED
WITH ENGINEERING THOUGHT AND ACTION,
EXPRESSED THROUGH COLLABORATION AND
COMMUNICATION, AND FOUNDED ON CHARACTER.
Hypothesis
MINDSET SKILLSET+
ENGINEERING UNLEASHED
ENTREPRENEURIAL MINDSET
Identifyan opportunity
Performtechnical design
Investigatethe market
Validatemarket interest
Createa preliminary
business model
Communicatean engineering solution
in economic terms
Communicatean engineering solution
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Evaluatetechnical feasibility
customer valueVRFLHWDO�EHQHƓWV
economic viability
Developpartnerships and
build a team
Testconcepts quickly via
customer engagement
Identifysupply chains
distribution methods
Assesspolicy and
regulatory issues
Analyzesolutions
Createa model or prototype
Validatefunctions
Protectintellectual property
Developnew technologies
(optional)
COMPLEMENTARYSKILLS
OPPORTUNITY DESIGN IMPACT
Determinedesign requirements
THESE SPECIFIC SKILLS REINFORCE THE DEVELOPMENT OF AN ENTREPRENEURIAL MINDSET
the traditional engineering
skillset needs expansion
Identifyan opportunity
Performtechnical design
Investigatethe market
Validatemarket interest
Createa preliminary
business model
Communicatean engineering solution
in economic terms
Communicatean engineering solution
LQ�WHUPV�RI�VRFLHWDO�EHQHƓWV
Evaluatetechnical feasibility
customer valueVRFLHWDO�EHQHƓWV
economic viability
Developpartnerships and
build a team
Testconcepts quickly via
customer engagement
Identifysupply chains
distribution methods
Assesspolicy and
regulatory issues
Analyzesolutions
Createa model or prototype
Validatefunctions
Protectintellectual property
Developnew technologies
(optional)
COMPLEMENTARYSKILLS
OPPORTUNITY DESIGN IMPACT
Determinedesign requirements
THESE SPECIFIC SKILLS REINFORCE THE DEVELOPMENT OF AN ENTREPRENEURIAL MINDSET
Identifyan opportunity
Performtechnical design
Investigatethe market
Validatemarket interest
Createa preliminary
business model
Communicatean engineering solution
in economic terms
Communicatean engineering solution
LQ�WHUPV�RI�VRFLHWDO�EHQHƓWV
Evaluatetechnical feasibility
customer valueVRFLHWDO�EHQHƓWV
economic viability
Developpartnerships and
build a team
Testconcepts quickly via
customer engagement
Identifysupply chains
distribution methods
Assesspolicy and
regulatory issues
Analyzesolutions
Createa model or prototype
Validatefunctions
Protectintellectual property
Developnew technologies
(optional)
COMPLEMENTARYSKILLS
OPPORTUNITY DESIGN IMPACT
Determinedesign requirements
THESE SPECIFIC SKILLS REINFORCE THE DEVELOPMENT OF AN ENTREPRENEURIAL MINDSET
Identifyan opportunity
Performtechnical design
Investigatethe market
Validatemarket interest
Createa preliminary
business model
Communicatean engineering solution
in economic terms
Communicatean engineering solution
LQ�WHUPV�RI�VRFLHWDO�EHQHƓWV
Evaluatetechnical feasibility
customer valueVRFLHWDO�EHQHƓWV
economic viability
Developpartnerships and
build a team
Testconcepts quickly via
customer engagement
Identifysupply chains
distribution methods
Assesspolicy and
regulatory issues
Analyzesolutions
Createa model or prototype
Validatefunctions
Protectintellectual property
Developnew technologies
(optional)
COMPLEMENTARYSKILLS
OPPORTUNITY DESIGN IMPACT
Determinedesign requirements
THESE SPECIFIC SKILLS REINFORCE THE DEVELOPMENT OF AN ENTREPRENEURIAL MINDSET
MINDSET SKILLSET+
a tandem development
Two perspectives
Time Frequency
Who is this for?Why do theycare?
MINDSET SKILLSET
What’s the
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MINDSET SKILLSETWhat’s thebusinessmodel?
Who is this for?Why do theycare?
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Whattrendsmatter?
MINDSET SKILLSET
Who is this for?Why do theycare? What’s the
businessmodel?
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Are thereunexpectedopportunities?
MINDSET SKILLSET
Who is this for?Why do theycare?
Whattrendsmatter?
What’s thebusinessmodel?
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What will theimpact be?(impact = significance x scale)
MINDSET SKILLSET
Who is this for?Why do theycare?Are there
unexpectedopportunities?
Whattrendsmatter?
What’s thebusinessmodel?
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Who is this for?Why do theycare?Are there
unexpectedopportunities?
What will theimpact be?(impact = significance x scale)
Whattrendsmatter?
MINDSET SKILLSET+
What’s thebusinessmodel?
AttitudesDispositionsMotivations
Y E SE
N E U R I A L M I N D S E T
E N T R E P R E
E A R S A N D
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Active Sound Control
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L A S I K
RFID Authentication
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L A S I K
C U R I O S I T Y
Rangaswamy Srinivasan is awarded the National Medal of Technology and Innovation and the 2013 National Academy of Engineers Russ Prize
C U R I O S I T Y
Hooray! The engineers are here.
You have to be curious. But then comes “fascination.”
- Gholam Peyman
So what could happen?
Competitors emerge!Battle for “first approval”
Excimer Laser
Trokel, Munnerlyn, &
Stamps form VISX
Corneal Flap Surgery
The valley of FDA approval
At $2000 / eye, market is mature, some say saturated,
in the U.S.
Impact =
Quantitative+ Qualitative 20 millionx
Significance x Scale
As educators, how can we increase
dispositional CURIOSITY?
Active Sound Control
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C O N N E C T I O N S
Signal Processing +
Amp
Secondary(Canceling)Primary
(Source)
Business Model Canvas
Key Partners Key Activities
Key Resources
Cost Structure Revenue Streams
Value Propositions Customer Relationships
Channels
Customer Segments
Design: By: Date:
Iteration: This work is licensed under the Creative Commons Attribution-Share Alike 3.0 Unported License.
www.businessmodelgeneration.com
Who are our key partners?Who are our key suppliers?Which Key Resources are we acquiring from partners?Which Key Activities do partners perform?
What Key Activities do our Value Propositions require?Our Distribution Channels?Customer Relationships?Revenue Streams?
What Key Resources do our Value Propositions require?Our Distribution Channels? Customer Relationships?Revenue Streams?
What value do we deliver to the customer?Which one of our customer's problems are we helping to solve?What bundles of products and services are we offering to each Customer?Which customer needs are we satisfying?
What type of relationship does each Customer expect?Which ones have we established?How are they integrated with the rest of our business model?How costly are they? How will we maintain them?
For whom are we creating value?Who are our most important customers?
Through which Channels do our Customers want to be reached?How are we reaching them now?How are our Channels integrated?Which ones work best?Which ones are most cost-efficient?How are we integrating them with customer routines?
For what value are customers really willing to pay?For what do they currently pay?How are they currently paying?How would they prefer to pay?How much does each Revenue Stream contribute to overall revenues?
What are the most important costs inherent in our business model?Which Key Resources are most expensive?Which Key Activities are most expensive?
Partner for:Optimization and economyReduction of risk and uncertaintyAcquisition of key resources and activities
Categories:ProductionProblem SolvingPlatforms / Networks
Types:PhysicalIntellectual (brand, patents, copyrights, data)HumanFinancial
Characteristics:NewnessPerformanceCustomization"Getting the Job Done"DesignBrand/StatusPriceCost ReductionRisk ReductionAccessibilityConvenience/Usability
Examples:Personal assistanceDedicated personal assistanceSelf-serviceAutomated servicesCommunitiesCo-Creation
Examples:Mass marketNiche marketSegmentedDiversifiedMulti-sided platform
Channel phases:1. Awareness2. Evaluation3. Purchase4. Delivery5. After sales
Types:Asset saleUsage feeSubscription feesLending/renting/leasingLicensingBrokerage feesAdvertising
Pricing:Fixed - listFixed - feature dependentFixed - customer dependentFixed - volume dependentDynamic - negotiatedDynamic - yield managementDynamic - real-time market
Is it more:Cost driven? (lean cost structure, low value proposition, maximum automation, extensive outsourcing)Value driven? (focused on value creation, premium value proposition)
Characteristics:Fixed costs (salaries, rents, utilities)Variable costsEconomies of scaleEconomies of scope
2. Produce a Branded Product 3. Joint Venture
1. License the Intellectual PropertyGreat technology. Good press. So how are we going to pay the bills?
FORD MOTOR COMPANY TO LICENSE DIGISONIXTECHNOLOGYSTOUGHTON, Wis., May 14 /PRNewswire/ --Nelson Industries, Inc. has granted theFord Motor Company a non-exclusive,worldwide license to use Nelson'sDigisonix(R) active sound and vibrationcontrol technology on Ford passenger carsand light trucks. Nelson and Ford currentlyare engaged in the third year of adevelopment project relating to theapplication of active sound and vibrationcontrol to passenger cars and lighttrucks...
1. License the Intellectual PropertyGreat technology. Good press. So how are we going to pay the bills?
OEM’s, JV’s, Direct Sales
Digisonix & others(1990-2000)
So what happened?
Lueg (1936) Olson (1961)
Digital Signal Processors (1980’s)
Nelson Inc.- Active
15 years of silence
2014
C O N N E C T I O N S
As educators, how can we increase
CONNECTIONS, as a habit-of-mind to connect information and implications?
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CREATING VALUE
RFID Authentication
CREATING VALUE
As educators, how can we increase
our students inclination CREATE VALUE
for others, whether through
projects, research, or entire careers?
KERN ENTREPRENEURIAL ENGINEERING NETWORK
Teaching Methods (Pedagogy, Games, Etc.)
Assignments, Simulations
64
Projects
Community Projects
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Inter-Collegiate Projects
On-Line and Flipped Courses
Extra-Curricular & Living-Learning Communities
67
Case Studies
ENTREPRENEURIAL MINDSET
4. HOW AND WHEN CAN THE IMPACT BE MEASURED?
3. HOW CAN ENTREPRENEURIAL THINKING BE LEARNED?
2. WHERE ARE THE “LEVERAGE POINTS”?
1. WHAT IS ESSENTIAL FOR PROGRESS & HUMAN FLOURISHING?
25-YEAR RESEARCH QUESTIONS
WORKING GROUPS
Assessment Subnets
4. HOW AND WHEN CAN THE IMPACT BE MEASURED?
3. HOW CAN ENTREPRENEURIAL THINKING BE LEARNED?
2. WHERE ARE THE “LEVERAGE POINTS”?
1. WHAT IS ESSENTIAL FOR PROGRESS & HUMAN FLOURISHING?
A BOLD EXPERIMENT
KERN ENTREPRENEURIAL ENGINEERING NETWORK
Weenableanetworkofeducators
whoshareasetofidealsandideasabouttheimportanceofentrepreneurialmindset.
Text MINDSET to 50500
bit.ly/mindsetmatters_at_fie
Wedon’tsellanything.Nooperatorsarestandingby.
Wedon’thaveaprescrip<veprogram.
Text MINDSET to 50500
bit.ly/mindsetmatters_at_fie
bit.ly/keenmindsetmatters(CREATING VALUE video)
THANKYOU!