Entrepreneurial Road Map Paves the Way for the Future of Wealth Creation

Oklahoma Memorial Union at the University of Oklahoma was filled to capacity Aug. 25, not only with talented inventors, dedicated commercialization mentors and eager students, but also with ideas.

Who Attended:

• Twelve technology inventors/entrepreneurs, including OU intellectual property generators and entrepreneurs from across the state
• Twelve commercialization mentors, including venture capitalists, serial entrepreneurs and economic development leaders
• And more than 50 talented students from all academic disciplines interested in participating in the entrepreneurial process

What They Did:
Each inventor was paired with a mentor and joined forces with four to five students to create a plan for taking the inventor's technology to market. The process was facilitated by Richard Fox, principal of the Astralis Group, and Jim Troxel, managing director of Development Capital Networks. Armed with decades of experience in entrepreneurialism, Fox and Troxel laid out a clear path for marketplace success through lecture, small group interaction and large group discussion. Over the course of the eight-hour day, every team answered the questions:

• What business am I really in?
• What is my definition of success?
• What is my focus?
• How big will my company be?
• What are my financial alternatives?
• How much is my company worth?
• Will my business be a winner?
  

Feedback:

“As researchers, we don't think a lot about the business part of it. This workshop opened avenues that I haven't thought of and now I know what it takes to make this technology alive,” said Hazem Refai, OU associate professor of electrical and computer engineering, who is currently developing a sensor-based system to prevent collisions at intersections.

“Prior to today, I spent my time working on the technology. Now I know I need to move from working on the technology to taking it to market. We identified the major roadblocks to getting to market and now we can address them. We started today building a roadmap to success,” said Kenneth E. Miller, associate professor of anatomy and cell biology, Oklahoma State University Center for Health Sciences, who is researching and developing novel analgesics for chronic pain.

“This workshop has allowed me to experience entrepreneurialism in a way I could not in the classroom,” said Kim Saylor, OU finance and accounting senior.

Special Thanks
The Center for the Creation of Economic Wealth extends a special thank you to its sponsors Technology Ventures Summit, Oklahoma Equity Partners, Oklahoma Capital Investment Board, and Oklahoma Business Roundtable for making the Entrepreneurial Roadmap possible.

Printable Flyer (PDF)

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