Engineers play a crucial role by providing the foundation and innovation in many new technology-oriented businesses. However, without strong business know-how, many promising technologies fall to the wayside as solutions looking for a problem to solve. The Minor in Technological Entrepreneurship equips engineers with vital business know-how to commercialize technology and turn intellectual property into revenue. The Minor in Technological Entrepreneurship concentrates on developing skills in strategic management, marketing and sales strategy, organizational structure, operations management, protection of intellectual property, and alternative sources of financing. Alongside these technical skills, engineering students gain crucial soft skills in communications, leadership, teamwork, and creativity.
Nature of the Program
The Minor will appeal to students who:
- Have a concept, process, or product idea and are looking to explore the commercialization process
- Have a general interest in entrepreneurship
- Wish to pursue a career in a small or medium-sized company or non-profit
- Are interested in bringing the entrepreneurial spirit to a large corporation as an “intrapreneur”
- Are looking to strengthen their soft skills such as team building, communication, and leadership
Choose any 6 of the following 7 courses:
Marketing Technology (MRKT 360)
The analysis, planning, and control of marketing activities in a high technology business environment through the application of a good conceptual framework that is useful in addressing marketing management problems.
Leadership (ORB 321)
Human resource systems are examined from a strategic business perspective and in an overall global context, with a focus on the role of the line manager. Topics covered include: staffing, training, development, performance management, reward systems, employee relations, high performance work systems, diversity, and work/life balance.
Organizational Policy (MGCR 423)
This core management course brings together several functional areas including marketing, human resources, operations, finance, organization, and leadership into a capstone course that focuses on the modern concepts and practices of strategic management. It shows how companies use the strategic management process to analyze the external and internal environments of companies, develop strategic intent, corporate and business level strategies, pursue acquisition and restructuring, and form partnerships and alliances. It also covers competitive rivalry, organizational structure and controls, corporate governance, and leadership.
Technological Entrepreneurship (BUSA 465)
Concentrating on entrepreneurship and enterprise development, particular attention is given to the start-up, purchasing and management of small to medium-sized industrial firms in an environment that would appeal to engineering students. The focal point is in understanding the dilemmas faced by entrepreneurs, resolving them, developing a business plan, and the maximum utilization of the financial, marketing, and human resources that make for a successful operation.
Technology Business Plan Design (FACC 500)
The commercialization of engineering innovations, research, and new technology must be supported by a solid business model and winning business plan. This course teaches students the skills necessary to design and build effective business plans. It covers such topics as legal structure, management team, ownership, organizational structure, financial structure, operations management, project management, market analysis, competitor analysis, marketing and sales strategies, product life cycles, protection of intellectual property, and alternative sources of financing.
Technology Business Plan Project (FACC 501)
This course should be taken either simultaneously or following Technology Business Plan Design (FACC 500). Students work in teams to design, build, and present a business plan based on an idea, concept, or project. The projects are driven by research, technology, or an engineering innovation. Projects come from either students, researchers, professors, or outside companies wishing to commercialize a product, process, or service. In all cases, the projects are live and in real time rather than hypothetical. In collaboration with FACC 500, guest lecturers (practicing professionals) are brought into the classroom regularly to bring real world experience to students. There are also site visits to companies focused on specific themes such as venture capital, alternative sources of finance, protection of intellectual property, and entrepreneurial start-ups to enhance student learning.
To find out more about the program
(514) 398-7256 Judy Pharo, Associate Director, Faculty of Engineering, Frank Dawson Adams, Room 22.