The Institute - March 2018 - 10

A ROAD MAP
FOR ASPIRING
ENTREPRENEURS
The plan takes engineering students
from idea to marketplace
B Y A M A N D A D AV I S

TH E IN STITUTE MAR CH 2018

S TA R T U P I N C U B AT O R

Chavez and Cho are no strangers to
the startup world. For the past two
decades, Chavez has been providing
funding and guidance to small businesses through Pacific Investment
Partners, a private equity firm in
Scottsdale, Ariz., where he is managing director.
Cho, a nanotechnology engineer,
has led several engineering startups

during his technical career, which
spans nearly three decades.
The ASU entrepreneurship program, which has grown from 50 students in 2012 to more than 850 as of
2017, is offered online and in person.
It is open to students pursuing all
majors-not just those studying
engineering or business.
The program has helped several
students launch successful ventures,

THEINSTITUTE.IEEE.ORG

ARAM CHAVEZ AND JENNY VAN ROOY

H E N Y O U ' R E O U T T O launch
your first company, questions
abound: Will people buy what
I want to sell? Where do I get
funding? How do I build a team?
To help budding entrepreneurs find answers, Aram Chavez
and IEEE Member Steve T. Cho, both lecturers in technological entrepreneurship management at Arizona
State University, in Tempe, came up with a graphic
[right] called "Startup Map: From Aha to Exit!"
In 10 steps, and a minimum of 15 courses, students
learn ways to turn their idea into a profitable venture.
The steps are displayed in an infographic that provides
the framework for ASU's program, which leads to a
bachelor's degree in entrepreneurship and innovation.
Chavez presented the map at last year's IEEE Technology and Engineering Management Society Conference,
which The Institute attended.
ASU offers an entrepreneurship undergraduate
program administered by an engineering school-
the Ira A. Fulton School of Engineering-rather than
a business school. Students take courses in the order
shown in the infographic.
"Many of our engineering students take courses
that allow them to minor in entrepreneurship-and
in these courses, they're exposed to creating startups,
filing intellectual property claims, building teams,
launching products, and other vital skills," Cho says.
"Our years of guiding and investing in startups has given us the template to create the map,"
Chavez says. "It integrates the best practices in
entrepreneurship and provides a comprehensive
view of the journey."

http://ieeexplore.ieee.org/document/7998369/ http://temscon18.ieee-tems.org/ http://temscon18.ieee-tems.org/ http://theinstitute.ieee.org

Table of Contents for the Digital Edition of The Institute - March 2018