IEEE Power Electronics Magazine - December 2020 - 58

teams end up founding a
ics, I believe there
startup and moving
are many start-up
The I-Corps program is
on, while 42% had to
opportunities that
a nationally-renowned
either completely cancould lead to new
initiative with sites
cel their plans or pivot
technologies with
throughout the U.S.
to totally new advenreduced cost, more
tures. The team connecreliability and in--
tion with the host univercreased functionsity was clear. Thirty-eight teams
alities. If you are the reluctant faculty
formed new ventures based on UCF
who has the itch to be--come en--
research, and 18 patents were licensed
trepreneur and who believes that you
from UCF. Teams are pursuing 51
have developed a new technology:
Small Business Innovation Research
identify your business opportunity,
(SBIR) and Small Business Technoldefine your success terms, take a
ogy Transfer (STTR) and other grant
deep breath, and when the opportuniopportunities, and 29 grant proposty knocks, take a dive. A dose of pasals or applications have been subsion will help! I have been a faculty
mitted. It is also interesting to note
and entrepreneur simultaneously
that two of the teams that were preover the last 15 years. It has been
rewarding to me and students, and
viously declined a SBIR award re--
has given me a sense of societal purceived grants after taking the
pose. If you decided this is for you, I
course. The program mana g e r
wish you the best. Enjoy the journey
expressed that taking the I-Corps
and the ride.
curriculum made a big difference
in the quality and attractiveness of
their proposals.
I-Corps Teams Analyzed
About the Author
Recently, an analysis of 130 teams out of
Issa Batarseh (issa.batarseh@ucf
150 teams who completed the program
.edu) received his B.S. degree in electriSummary
at the UCF site (between January 2015 to
cal and computer engineering and his
Given the technical and relevant
November 2018) showed that 58% of the
M.S. and Ph.D. degrees in electrical
nature of our R&D in power electronengineering from the University of Illinois, Chicago,
in 1983, 1985, and 1990,
respectively. He is currently
a professor of electrical
engineering in the Department of Electrical and
Computer Engineering,
University of Central Florida, Orlando, USA. He is the
NORWE can already offer alternative
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of Fame. He is a Fellow of
the IEEE.

- roblems when compared to the
p
competition, and to know whether
customers are ready to buy-in on
what you are offering. It helps to
boost your confidence and bring
clarity to the proposed value proposition and gage the size of your
customer base.
■■Each team must develop a minimum viable product (MVP) to test
their product, its market viability
and whether it meets its promised
market value. This is a crucial step
in the process.
■■Then comes the key point when
you must be honest with yourself
to pivot or simply abandon the
proposed idea with minimum loss.
It might seem ironic but failing
fast at this stage is a blessing,
because minimum funds have
been spent up to this point. It
gives you the opportunity to pivot
with confidence.

Halogen-free
flame protection

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IEEE Power Electronics Magazine - December 2020

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