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EntrepreneurshipBishoff Entrepreneurs-in-Residence:Bringing entrepreneurship experience to the classroomEach semester, the engineering entrepreneurship minor invites a technology entrepreneur into the classroom as the Bishoff Entrepreneurin-Residence.This individual spends several days observing classes, advising young entrepreneurs, and challenging students withinnovative projects.The Entrepreneur-in-Residence program is named for and underwritten with an endowment by E.V. Bishoff, who was a Pittsburghnative and long-time supporter of Penn State engineering. The program contributes to the engineering entrepreneurship program’smission to develop new entrepreneurs and creative thinkers through innovation, leadership, and project-based coursework.Spring 2009Paul DomanicoFall 2009Paul Domanico, founder andmanaging partner of Innovalyst,spent the week of April 5-10 sharinghis entrepreneurial experienceswith engineering entrepreneurshipstudents as the Spring 2009 BishoffEntrepreneur-in-Residence.Domanico has more than twenty yearsof experience in drug discovery, technology development,and executive management with GlaxoSmithKline (GSK)and E.I. du Pont de Nemours and Company (DuPont).From 2000 through February 2007, Domanico was vicepresident for technology development for GSK Research andDevelopment in the United States. Under his leadership,six innovative technologies were commercialized. AfterBruce Shook, president and CEO ofNeuronetics, Inc., visited Penn Statefrom October 6-9 as the Fall 2009Bishoff Entrepreneur-in-Residence.Shook has 25 years of experience inthe medical device industry. Mostrecently, he was president and CEOand a director at Neuron Therapeutics,a venture-backed companyBruce Shookdeveloping a drug/device productfor treatment of central nervous system disorders. Prior toNeuron Therapeutics, Shook was president of AbiomedCardiovascular where he successfully obtained premarketapproval for the first FDA-approved ventricular assist deviceand built a direct sales and marketing team to market theproduct. Prior to Abiomed, Shook was employed at Cordisleaving GSK, Domanico founded two companies. His latestis Innovalyst, LLC, a life science advisory company with apioneering business model. Innovalyst helps companies shapebusiness strategy, catalyze the development of innovations,and accelerate commercial success. Innovalyst also managesICAN, an Intellectual Capital Advisory Network.Domanico serves on several scientific advisory boards. He isa lecturer at the University of North Carolina, Kenan-FlaglerBusiness School’s Center for Entrepreneurial Studies. He wasa member of the governor’s task force on nanotechnologyand North Carolina’s economy. Domanico holds a Ph.D. inchemistry and a bachelor’s degree in pre-medicine from PennState. He received his post-doctoral training in molecularbiophysics at DuPont.Corporation where he was involved with the development ofcardiac pacing and anti-arrhythmia products. Shook servesas a director for SurgiQuest and Cardiac Concepts, bothprivately held medical technology companies, and for thePenn State Research Foundation.Neuronetics, Inc. is a privately held medical devicecompany focused on developing non-invasive therapies forpsychiatric and neurological disorders using MRI-strengthmagnetic field pulses. It is the first and only company tohave a non-systemic and non-invasive depression treatmentcleared by the FDA for patients who have not benefitedfrom prior antidepressant treatment. Based in Malvern,PA, it is the leader in the development of transcranialmagnetic stimulation therapy, a non-invasive form ofneuromodulation.Workshops prepareattendees for"invention to venture"Invention to Venture (I2V), a one-day workshop on thebasics of technology commercialization and entrepreneurship,was hosted by the Penn State Entrepreneurs Network and theCollege of Engineering at University Park on Oct. 24, 2009.The workshop, which was intended for undergraduateand graduate students, faculty/staff, and communitymembers, included presentations focused on technologyentrepreneurship, opportunity assessment, venture capital,marketing, intellectual property, business plans, and relatedtopics.Speakers at I2V included experts with national stature,local technology entrepreneurs, and a number of Penn Statestudent startups. Gavin McIntyre (co-founder of EcovativeDesign), Shabbir Dahod (CEO of TraceLink and venturepartner with FirstMark Capital), Ujjwal Gupta (co-founderof Watermelon Express), and Pat McNamara (marketingguru) were some of the speakers at the conference.Workshop participants explored technology entrepreneurshipfundamentals, discovered how to turn an innovative productidea into a new technology venture, heard success stories,and networked with other participants and speakers at theconference.Watermelon Express, a Penn State student startup andsponsor of the event, gave away standardized test preparationsoftware to all participants free of cost.The I2V workshop was held in cooperation with the NationalCollegiate Inventors and Innovators Alliance (NCIIA)and sponsored by RatnerPrestia and the University ParkAllocation Committee.Following I2V, the College of Engineering and Smeal Collegeof Business hosted the Advanced Invention to Venture(AI2V) workshop from Nov. 20-23, 2009, at University Park.The intense four-day workshop was open to student teams,faculty, non-academic-affiliated venture teams, and corporatetechnologists who committed to starting a company and werestriving to define and articulate the market value of theirtechnology and the best strategy for commercialization.Participants conducted critical and strategic thinking abouttheir ventures with assigned mentors and coaches who areaccomplished entrepreneurs in industry. AI2V instructors,coaches, and mentors helped participants to formulate plansto raise money, recruit team members, and further developtechnology.AI2V provided a more thorough review of the subject matterwith hands-on exercises that made the materials pertinentto each participating team’s venture. Limited class size andhand-picked mentors and speakers provided startups aunique venture acceleration opportunity.AI2V is a world-class venture accelerator workshop that hashelped advance early-stage startups and shorten their timeto market, with proven results. Participants have called it thesingle most important turning point for their startups.AI2V was sponsored by Penn State in conjunction with theNCIIA.To learn more about Invention to Venture, visit www.psu-i2v.com. Videos of the I2V conference talks are available at www.engr.psu.edu/i2v. To learn more about Advanced Inventionto Venture, visit www.invention2venture.org/advancedi2v orcontact Khanjan Mehta at khanjan@engr.psu.edu.36 | SEDTAPP NEwS | SPriNg 2010 SPriNg 2010 | SEDTAPP NEwS | 37