The Development Projects are Northeastern University's new thrust in experiential learning and technology commercialization. They have been developed to provide our students with as real an entrepreneurial experience as is possible within a university setting. Our Development Projects are unique in that they:
- Provide significant, hands-on experience
- Earn four credit hours
- Are motivated by the intention to create of new ventures
- Keep separate the venture's lifetime from the student's term on campus
The Development Projects comprise teams of students, faculty and dedicated professional staff in a focus area whose purpose is to further develop technology, create product prototypes, evaluate markets and customer needs, and create fundable business plans.
In the figure above, the basic structure of a Development Project is shown. At the core are student teams consisting of both graduate and undergraduate members. The role of these student teams is to vet ideas by evaluating both market and technological feasibility. Students involved from the STE and CBA will develop the requisite skills in their classes to evaluate potential markets and conduct interviews with potential customers.
Teams will also benefit from alumni and industrial mentors. These mentors will be individuals with a particular interest in the idea being vetted. The mentoring process provides them with an opportunity to follow an idea through the vetting process and influence the outcome.
Student involvement currently is at the graduate level only. Our graduate students can be divided into three groups; those working toward degrees in intrapreneurship or entrepreneurship [HTMBA(High Tech MBA) and MSTE(Master of Technological Entrepreneurship)], those who are taking a certificate in STE as a 'minor' to their technological degree, and those who are strictly technologists coming from a graduate program in one of our four science and engineering schools [the College of Engineering (COE), the College of Computer and Information Sciences (CCIS), the College of Health Sciences ( Bouvé), and the College of Arts and Sciences (CAS)].
The Development Project Director is a professional with significant experience in the creation and operation of small high growth high tech companies. His/her role will be to help coordinate venture teams, identify resource needs, acquire resources as necessary to support those teams, provide administrative support and organize mentoring support for team leaders.
Venture team formation will be facilitated by the Development Project Director and faculty. Venture teams are then responsible for both technological and market feasibility analysis. Technological team members will be required to further develop the idea in order to create a prototype that meets customer needs as determined through market analysis. Development can continue beyond the 'lifetime' of individual team members; however, as required by the curriculum, some students will be generating business plans each semester. This scheme allows the possibility of multiple year ventures as may be required to develop the sufficiently sophisticated prototype needed to attract subsequent investment.
We currently have three Development Projects in place; Digital Media, Engineering (Devices), and BioTechnology. The Digital Media Development Project has worked on ventures including hyperlocal social website dubbed 'PulsePoint' and an ongoing effort to create an on-line record label. The Device Development Project been developing a number of new products including a rehabilitation device for patients suffering from joint injuries. Finally, our newest Development Project is targeted toward BioTechnologies. This year it is focusing on a Biosensing Chip based on nanotechnology for the early detection of cancer.