UNB Launches Second I-STEM Cohort to Help Researchers Commercialize Deep Technology
Author: TME
Posted on Sep 18, 2020
Category: , Research Spotlight
The Dr J Herbert Smith Centre is pleased to be partnering with George Washington University (GWU) for a second year to help bring research and deep technology to the marketplace through its I-STEM program. First launched at UNB in 2019, this targeted curriculum based on I-CORPS methodology teaches investigators how to identify and validate potential business ideas based on their academic research and begin the commercialization process.
Originally developed in 2011 by the U.S. National Science Foundation (NSF), the I-CORPS methodology applies a rigorous scientific and data-driven approach to the customer and market discovery process with the primary goal of shortening the product validation and development timelines. Through early engagement with potential customers, partners and industry experts, participants iteratively test hypotheses around customer needs, potential use cases and pricing to determine the product-market fit and commercial viability of their technology.
Through the program, teams achieve the following outcomes:
- Gain a deep understanding of customer needs based on first-hand evidence
- Develop entrepreneurial skills and mindset and learn lean startup methods
- Determine the commercial readiness of their technology
- Develop a clear go/no-go decision about a product line
- Develop a transition plan to move the technology forward if the team decides to do so
"Not only does our partnership with George Washington University help teams discover the commercial viability of their technology and accelerate the transition from the laboratory to the marketplace, but it also serves to drive economic growth in the region," says Dominic Blakely, Innovation and Entrepreneurship Strategist with the J Herbert Smith Centre.
This seven-week program is open to researchers across Atlantic Canada, including graduate students, and allows participants an opportunity to get out into the field, talk directly to industry contacts, validate the commercial viability of their intellectual property and adopt an entrepreneurial mindset.
For more information, or if you're interested in participating in the I-STEM program, please contact Dominic Blakely at blakely@unb.ca.