IOE 422 W2010 Class 1

IOE 422 W2010 Class 1 - Winter 2010 Kurt Skifstad...

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Unformatted text preview: Winter 2010 Kurt Skifstad (skifstad@umich.edu) I O E 4 2 2 E n t r e p r e n e u r s h i p Class 1 1 IOE 422 Entrepreneurship Kurt Skifstad skifstad@umich.edu Winter 2010 Kurt Skifstad (skifstad@umich.edu) I O E 4 2 2 E n t r e p r e n e u r s h i p Class 1 2 About Me U of M PhD (90, EECS, Artificial Intelligence) Started my first company right out of school (sold in 98 for >$30MM) Multiple companies, multiple successful exits (acquisitions, IPO) Multiple rounds of venture and angel financing Positions held: President, CEO, COO, CTO, Director of Europe Product- and customer-focused, concept to launch to profitability Winter 2010 Kurt Skifstad (skifstad@umich.edu) I O E 4 2 2 E n t r e p r e n e u r s h i p Class 1 3 About This Class From the IOE Bulletin: Engineering students will explore the dynamics of turning an innovative idea into a commercial venture in an increasingly global economy. Creating a business plan originating in an international setting will: challenge students to innovate; manage risk, stress and failure; confront ethical problems; question cultural assumptions; and closely simulate the realities of life as an entrepreneur. Winter 2010 Kurt Skifstad (skifstad@umich.edu) I O E 4 2 2 E n t r e p r e n e u r s h i p Class 1 4 Course Description (Fall Syllabus) Engineering students take a broad look at turning innovative ideas into successful commercial ventures in a global environment. By creating an actual business plan and a personal life plan they will learn about innovation and creativity, risk management, stress and failure, ethics and other business and life skills. IOE 422 is an unusually demanding course designed for seniors who may be interested in one day owning their own business or have ideas for starting their own business after graduating. Students will be exposed to the skills and traits entrepreneurs must have and what the "entrepreneurial lifestyle" is all about. Students will work in teams on their own business plan which will focus on opportunities in developing countries and on other assigned projects, and in the process learn what it takes to grow an innovative idea into a successful business. IOE 422 will mesh the tools of business with community development including: cultural sensitivity and privilege, need assessment, appropriate technology, sustainable green engineering, and the role of engineering in society. Upon completion of business plans students will have an opportunity to present them to local investors and receive feedback. Winter 2010 Kurt Skifstad (skifstad@umich.edu) I O E 4 2 2 E n t r e p r e n e u r s h i p Class 1 5 Truth in Advertising Class Description Well focus on answering two questions: What is an entrepreneur?...
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IOE 422 W2010 Class 1 - Winter 2010 Kurt Skifstad...

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