1. ENTREPRENEURSHIP AND
HIGH TECHNOLOGY
BUSINESS
An entrepreneurship class for
science and technology students
La Salle University
Marsha Wender Timmerman
Integrated Science Business and Technology

2. The Problem
• Science and technology students have the
creativity and knowledge to generate new
high technology product ideas
• They do not understand business
• They do not speak the language of business
• They view the science and technology as the primary
goal
• Business is the secondary, much less important
goal

3. The Solution
• Prepare a course specifically for these
students
• Emphasize that the technology know how must be
partnered with business know how
• Real success requires good technology and good
business
• Devote equal time to the technical and business concerns
• Teach the course using “technical” language, not
“business” language

4. Specific Goals of the Course
• To guide students through the process from idea
recognition to reduction to practice.
• To inform students about what intellectual property is and
the best ways to protect it.
• To teach students basic business concepts that will
enable them to make good business decisions.
• To help students understand organizational structures that
will allow them to be the leaders of their ventures while
surrounding themselves with individuals whose strengths
complement their weaknesses.
• To provide students with a road map that enables them to
start their own ventures.

5. Class Discussion Topics
• Introduction to Entrepreneurship
• Confidentiality Agreements
• Entrepreneur Profiles
• Idea Recognition
• Idea Feasibility
• Corporate Entities
• Business Plans
• Marketing
• Competition
• The Team
• Intellectual Property
• Financial Management
• Cash Flow Statements
• Profit and Loss Statements
• Balance Sheets
• Ethics
• Financing the Startup Venture
• Operations
• Managing Growth

6. Confidentiality Agreement
• Most students are very concerned about
someone “stealing” their idea
• Make students comfortable sharing their thoughts
and ideas
• Improve their understanding of what is
confidential information and what is not
• Learn to read and understand legal agreements
• Understand the enforceability of confidentiality
agreements

7. Entrepreneur Profiles
• Bring in practicing entrepreneurs to tell their
own stories
• University professor creating a cancer diagnostic test
• Software engineer who created a consulting company
which helped pharmaceutical companies be more
efficient
• Electrical engineer making home automation products
• Biologist making enzyme based diagnostic products
• Serial entrepreneur in computer hardware
• Students interview and report on entrepreneurs
that they personally know

8. Idea Recognition
• Ideas are the heart of the high technology
enterprise
• Encourage creativity
• Encourage thinking outside the box
• Need to be open minded to all new ideas
• Keep a record of all ideas

9. Idea Feasibility
• Requires all of their technical skills to make
the idea a reality
• This is what the technical entrepreneur worries
about most
• Ideas need to be more than technically
feasible
• There needs to be a customer
• There must to be a need
• There must be a way to get the product to the
customer

10. Marketing
• MARKETING IS THE KEY TO THE
SUCCESS OF THE VENTURE
• Technology students do not appreciate or
respect the value of good marketing
• What is marketing
• Why is it important
• Who is the customer
• How do you reach the customer

11. The Team
• SUCCESS OF THE VENTURE DEPENDS
ON MORE THAN THE TECHNOLOGY
• Students must understand that they cannot
create and build the entity by themselves
• The Entrepreneur must surround themselves with
people who have expertise in those areas where
they are weak
• Know their strengths and weaknesses
• Creative approaches to compensating team
members

12. Intellectual Property
• A local intellectual property attorney leads
this discussion
• Discuss the pros and cons of intellectual property
• What can be protected and what cannot
• What does it cost
• Is it worth the money
• Enforcement

13. Financing the Venture
• Most technology ventures require research
and development
• No revenue during this period
• Large outflow of cash
• Need to raise substantial money
• Where does the money come from
• How does one go about raising money
• What are the risks to the entrepreneurs
• What are the risks to the investors
• What is an exit strategy and which are relevant to their
type of business

14. Results
• 125 Students have taken the class
• Most have received a B or better
• Students evaluations
• Like the class
• Willing to recommend it to their friends
• Learned a lot
• Types of ideas
• Biotechnology and healthcare ideas
• Computer hardware
• Software

15. What is an Appropriate Assessment
• Current Assessment
• Class discussion and participation
• Mid-term
• Have students read and critique a business plan
• Business Plan
• Other Forms of Assessment
• Creation of new business
• Now
• In the future
• Filing of patents
• Working for an entrepreneurial venture

16. ACKNOWLEDGEMENT
Special thank you to all the students who
have taken this course during the past 8
years. I have thoroughly enjoyed their ideas
and hope that one day I will see some of
these potential products available for sale