Entrepreneurial Mindset Matters for Engineers - The Why, What, & How
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Mindset matters. Mindset is the collection of attitudes, dispositions, and motivations that are involved in every situation. The world needs engineers with an entrepreneurial mindset.
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Entrepreneurial Mindset Matters for Engineers - The Why, What, & How
- 2. 7b people. Or the US and 550,000 undergraduate engineers, or 31,000 engineering educators. What about one individual?
- 3. Ben Wagner was engineering student disillusioned with engineering. Let’s look at the landscape Ben and this generation faces…
- 4. Projection Population by Generation In 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.
- 5. Mature Technology While the technology “S-Curve” is familiar… Under Development Adoption Key Improvements Performance (efficiency,lowercost,functionality,integration…) Time
- 6. Disrupting the norm, has become the normPerformance (efficiency,lowercost,functionality,integration…) Time “Accelerating returns” produce ever increasing rates of change Decreasing Product Lifespans
- 7. 36mo 24mo 2002 2016 Contact Pressure on Product Development Times e.g. Automotive Industry
- 8. Returns are more about people and ideas than capital assets
- 9. US Utility Patent Awards & Non-US Awardees D. Melton, Source: USPTO Database, Dec 2015 Protected intellectual property is skyrocketing within a globally competitive economy.
- 10. 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
- 11. 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
- 12. What is Mindset?
- 14. what fraction of success can be attributed to Each? discuss… mindset vs. skillset
- 15. for long-term success: % ____ Mindset % ____ Skillset
- 17. Why? What? How?
- 18. #1: Belief in the opportunity and obligation of higher education to transform individuals Why?
- 19. #2: Belief that value creation leads to individual fulfillment Why?
- 20. #3: Belief that creating economic and societal value leads to jobs and global well-being Why?
- 21. 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 addressing societal challenges. Dr. Richard Miller, Olin College NAE Newsletter
- 22. What? How? Why?
- 23. MINDSET SKILLSET
- 24. MINDSET SKILLSET+ a tandem development
- 28. THE ENGINEER WE NEED HAS AN ENTREPRENEURIAL MINDSET COUPLED WITH ENGINEERING THOUGHT AND ACTION, EXPRESSED THROUGH COLLABORATION AND COMMUNICATION, AND FOUNDED ON CHARACTER.
- 31. Identify an opportunity Perform technical design Investigate the market Validate market interest Create a preliminary business model Communicate an engineering solution in economic terms Communicate an engineering solution Evaluate technical feasibility customer value economic viability Develop partnerships and build a team Test concepts quickly via customer engagement Identify supply chains distribution methods Assess policy and regulatory issues Analyze solutions Create a model or prototype Validate functions Protect intellectual property Develop new technologies (optional) COMPLEMENTARY SKILLS OPPORTUNITY DESIGN IMPACT Determine design requirements THESE SPECIFIC SKILLS REINFORCE THE DEVELOPMENT OF AN ENTREPRENEURIAL MINDSET
- 32. Identify an opportunity Perform technical design Investigate the market Validate market interest Create a preliminary business model Communicate an engineering solution in economic terms Communicate an engineering solution Evaluate technical feasibility customer value economic viability Develop partnerships and build a team Test concepts quickly via customer engagement Identify supply chains distribution methods Assess policy and regulatory issues Analyze solutions Create a model or prototype Validate functions Protect intellectual property Develop new technologies (optional) OPPORTUNITY DESIGN IMPACT Determine design requirements the traditional engineering skillset needs expansion
- 33. Identify an opportunity Perform technical design Investigate the market Validate market interest Create a preliminary business model Communicate an engineering solution in economic terms Communicate an engineering solution Evaluate technical feasibility customer value economic viability Develop partnerships and build a team Test concepts quickly via customer engagement Identify supply chains distribution methods Assess policy and regulatory issues Analyze solutions Create a model or prototype Validate functions Protect intellectual property Develop new technologies (optional) OPPORTUNITY DESIGN IMPACT Determine design requirements
- 34. Identify an opportunity Perform technical design Investigate the market Create Communicate an engineering solution in economic terms Communicate an engineering solution COMPLEMENTARY SKILLS OPPORTUNITY DESIGN IMPACT Determine design requirements
- 35. MINDSET SKILLSET+ a tandem development
- 37. What? How? Why?
- 38. 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.
- 40. Focus, focus, focus: Undergraduate Engineering (first connections) Mindset (within “entrepreneurship continuum”) Network of intellectual capital Private Institutions (now expanding)
- 41. Networkoffaculty
- 44. SBL, ACL, etc. PBL, CBL EML Pedagogy Stack