Entrepreneurial Mindset Matters for Engineers - The Why, What, & How
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Transcript of Entrepreneurial Mindset Matters for Engineers - The Why, What, & How
7b people.
Or the US and 550,000
undergraduate engineers,
or 31,000 engineering educators.
What about one individual?
Ben Wagner was engineering student disillusioned with engineering.
Let’s look at the landscape Ben and this generation faces…
Projection Population by GenerationIn millions
90
70
50
30
10
2014 2028 2036 2050
SILENT
BOOMER
GEN-X
MILLENNIAL
Millennials are 18-34 in 2015
Source: Pew Research Center tabulations of US
Census Bureau population projections, Dec 2014
What’s new? Millennial’s rule.
MatureTechnology
While the technology “S-Curve” is familiar…
UnderDevelopment
Adoption
KeyImprovements
Pe
rfo
rma
nc
e
(eff
icie
nc
y, lo
we
r c
os
t, f
un
cti
on
alit
y, in
teg
rati
on
…)
Time
Disrupting the norm,
has become the normP
erf
orm
an
ce
(eff
icie
nc
y, lo
we
r c
os
t, f
un
cti
on
alit
y, in
teg
rati
on
…)
Time
“Accelerating returns” produce ever increasing rates of change
Decreasing Product
Lifespans
36mo
24mo
2002 2016
Contact Pressure on Product Development Times
e.g. Automotive Industry
Returns are more about people and ideas than capital assets
US Utility Patent Awards & Non-US Awardees
D. Melton, Source: USPTO Database, Dec 2015
Protected intellectual property is skyrocketing within a globally competitive economy.
Note: The decrease is despite a disparity between unemployment rates * 8.1% 2013 Unemployment for general population * 3.8% 2013 Unemployment for scientists and engineers (NSF NCSES) * 5.0% 2015-Dec Unemployment for general population
See the Gallup blog post regarding unemployment rate
50%
Obsolete
Ref: An Engineering Career: Only a Young Person’s Game? By Robert N. Charette, IEEE Spectrum Posted 4 Sep 2013 http://spectrum.ieee.org/riskfactor/computing/it/an-engineering-career-only-a-young-persons-game
by the time you graduate
What is Mindset?
dispositionsAttitudes
Motivations}
MINDSET
Technical acumenCommunication
Project Management}
SKILLSET
what fraction of success can be attributed to Each?
discuss…
mindset vs. skillset
for long-term success: % ____ Mindset% ____ Skillset
frequent responses: 50-70%
associated with mindset
Why?
What? How?
#1: Belief in the opportunity and obligation of higher education
to transform individuals
Why?
#2: Belief that value creation leads to individual fulfillment
Why?
#3: Belief that creatingeconomic and societal value
leads to jobs and global well-being
Why?
Doubling down on even more hard sciences
and math will not help. Instead, we need to
incorporate new elements into engineering
students’ education to give them both the
skillset and the mindset needed
to become leaders in addressingsocietal challenges.
Dr. Richard Miller, Olin College NAE Newsletter
What? How?
Why?
MINDSET
SKILLSET
MINDSET SKILLSET+
a tandem development
MINDSET SKILLSET+
MINDSET SKILLSET+
MINDSET SKILLSET+
THE ENGINEER WE NEED HAS AN ENTREPRENEURIAL MINDSET COUPLED
WITH ENGINEERING THOUGHT AND ACTION,
EXPRESSED THROUGH COLLABORATION AND
COMMUNICATION, AND FOUNDED ON
CHARACTER.
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
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
MINDSET SKILLSET+
a tandem development
What?
How?
Why?
Our mission is to
graduate engineers
with an
entrepreneurial
mindset so they
can create
personal, economic,
and societal value
through a lifetime
of meaningful work.
Focus, focus, focus:Undergraduate
Engineering (first connections)
Mindset (within “entrepreneurship continuum”)Network of intellectual capital
Private Institutions (now expanding)
Networkoffaculty
Physical
Protocol
Application
Network Stack
Tactics
Strategies
Vision
Management Stack
SBL, ACL, etc.
PBL, CBL
EML
Pedagogy Stack