Idea to Product®
Program
Early-stage technology commercialization plan competitions that aim for unique product ideas with clear market demand that use innovative technologies.
In 2001, a partnership
was formed between the student organization, the Technology
Entrepreneurial Society (TES), the Murchison Chair of Free Enterprise, College
of Engineering, and the IC2 Institute.
The purpose was to encourage the next generation of entrepreneurs and help teams
of technology oriented students to design creative technology products and to
think “outside the box” in looking at potential markets. The initial
result was an annual technology commercialization competition, called Idea
to Product® (I2P®) This alliance has since
expanded to include the Computer Sciences Department of the College of Natural
Sciences, the Office of Technology Commercialization, the McCombs School of
Business and its MOOT CORP® program, and the Austin Technology
Incubator.
The I2P® program is quite a bit more though, than just the competition. It is a program that builds on key partnerships and alliances to offer UT Austin students entrepreneurial education and assessment, multiple opportunities to test themselves and compete for recognition, and support and inspiration for moving their ideas to the market place. The Program’s goals articulate this broader vision.
I2P® Goals:
-
To
increase the exposure of entrepreneurship to engineering and science students
-
Provide a forum of communication
and networking for all student entrepreneurs
-
Educate technology students on
what it takes to start a company
The
I2P®
program has also gained recognition and support from the National
Collegiate Inventors & Innovators Alliance (NCIIA) through its program
grant initiative.
Starting
in the fall of 2003, the I2P®
program expanded globally. There is now an established network of
excellent business plan competitions across the US. In fact, UT Austin founded
the MOOT CORP®
Competition. The
Global MOOT CORP® Competition, held in May each year, is hosted
by the McCombs School of Business,
and welcomes teams from 30 universities.
What
was not available was an opportunity of a similar scale for early stage technology
ideas to surface, gain recognition, and start on the path to commercialization.
UT Austin decided to remedy this by initiating
the first I2P®
International Competition.
It expanded our I2P®
concept to students from the leading research
universities. The College of Engineering,
McCombs School of Business, and the UT IC2
Institute and the Technology
Entrepreneurship Society (TES) are the founders of this Competition. The
goal of I2P® International is to educate students to the challenges
of validating new technology, provide universities with commercialization plans,
and act as a conduit to the business and venture community.