Dec 5, 2008 by Bob Monsour
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Mark Jung '82, Chairman of Songbird gave the first talk in this year's "Leadership in a Technological World" lecture series November 24th in the Friend Center Convocation Room.
Mark's talk, titled "The Entrepreneurial Career," provided members of the Princeton community with a sense of what to expect from the decision to pursue an entrepreneurial career, focusing on personal growth & development, challenge, and reward.
Mark has spent the last 20 years as a successful internet media CEO and entrepreneur. Most recently, Mark was the CEO at Vudu, a leading provider of digital home entertainment and interactive television services. Prior to Vudu, Mark was the Chief Operating Officer of Fox Interactive Media (FIM) where he was responsible for all of its internet properties including MySpace, IGN Entertainment, FoxSports.com, AmericanIdol.com, and Scout Media. Prior to Fox Interactive Media, Mark was the co-founder and CEO of IGN Entertainment, a leading Internet media and services company for videogaming and other forms of digital entertainment that he took public in 2000 and then private in 2003. Mark led IGN's sale to NewsCorp, the parent company of Fox Interactive Media in 2005. Mark holds an MBA from Stanford Business School and a B.S. in Electrical Engineering from Princeton University.
He is currently serves as Chairman of the Board of Songbird (POTI), and is a member of the Board of Directors of 3PAR. He is also a member of the Management Board of the Stanford Graduate School of Business as well as a member of the Board of Governors of the San Francisco Symphony.
Nov 30, 2008 by Bob Monsour
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A five member panel, moderated by Professor Ed Zschau, discussed various perspectives on what it takes to bring university research to the marketplace on November 19th in the Friend Center Auditorium. The panel session was the first event of the year in the Princeton-Jumpstart Lecture Series on Technology Entrepreneurship, a partnership between Princeton University and the Jumpstart New Jersey Angel Network.
The panel featured five members of the Princeton University community:
Nov 19, 2008 by Bob Monsour
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On November 18, 2008, John Danner, the Dean's Visiting Professor in Entrepreneurship and a Fellow in the Princeton Institute for International and Regional Studies (PIIRS), presented a lecture on "Ventures to Address Global Challenges: Doing Well by Doing Good."
Despite decades of international aid, extensive philanthropic attention, emerging corporate social responsibility initiatives and local government programs, major global challenges persist - from widespread poverty and preventable disease to inadequate education and unsafe water. An emerging cadre of entrepreneurs around the world are exploring new ways to tackle these issues with innovative ventures and technologies that complement more traditional approaches. Some of these efforts focus on "bottom of the pyramid" customers living on less than $2/day, while others work in different arenas. This talk described some of these ventures in a variety of international settings, the challenges they themselves face and the potential they represent.
About John Danner
John Danner is the Dean's Visiting Professor in Entrepreneurship this semester from the University of California Berkeley and also serves as a fellow in the Princeton Institute for International and Regional Studies (PIIRS). He is Senior Fellow of The Lester Center for Entrepreneurship and Innovation at UC Berkeley's Haas School of Business, where he teaches the core MBA course on entrepreneurship, as well as other graduate courses on business model innovation and strategies for startups. He also launched UC's campus-wide undergraduate course on entrepreneurship and global poverty. He began his entrepreneurial career as an undergraduate at Harvard, and has since been involved in startups of various types as entrepreneur, advisor and investor. In addition, he has worked as a management consultant, lawyer or senior executive in the private, nonprofit and public sectors in fields from education and healthcare to telecommunications and energy. A frequent speaker at conferences and seminars around the world, he is also senior moderator with The Aspen Institute's executive and global leadership programs. He received his J.D., M.P.H. and M.A.Ed. degrees from UC Berkeley. During his visit to Princeton, he will be teaching a course titled "Special Topics in Entrepreneurship: Ventures to Address Global Challenges."
Nov 18, 2008 by Bob Monsour
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On November 18, John Danner, the Dean's Visiting Professor in Entrepreneurship and a Fellow in the Princeton Institute for International and Regional Studies (PIIRS), presented a lecture on "Ventures to Address Global Challenges: Doing Well by Doing Good."
Despite decades of international aid, extensive philanthropic attention, emerging corporate social responsibility initiatives and local government programs, major global challenges persist - from widespread poverty and preventable disease to inadequate education and unsafe water. An emerging cadre of entrepreneurs around the world are exploring new ways to tackle these issues with innovative ventures and technologies that complement more traditional approaches. Some of these efforts focus on "bottom of the pyramid" customers living on less than $2/day, while others work in different arenas. This talk described some of these ventures in a variety of international settings, the challenges they themselves faced and the potential they represent.
About John Danner
John Danner is the Dean's Visiting Professor in Entrepreneurship this semester from the University of California Berkeley and also serves as a fellow in the Princeton Institute for International and Regional Studies (PIIRS). He is Senior Fellow of The Lester Center for Entrepreneurship and Innovation at UC Berkeley's Haas School of Business, where he teaches the core MBA course on entrepreneurship, as well as other graduate courses on business model innovation and strategies for startups. He also launched UC's campus-wide undergraduate course on entrepreneurship and global poverty. He began his entrepreneurial career as an undergraduate at Harvard, and has since been involved in startups of various types as entrepreneur, advisor and investor. In addition, he has worked as a management consultant, lawyer or senior executive in the private, nonprofit and public sectors in fields from education and healthcare to telecommunications and energy. A frequent speaker at conferences and seminars around the world, he is also senior moderator with The Aspen Institute's executive and global leadership programs. He received his J.D., M.P.H. and M.A.Ed. degrees from UC Berkeley. During his visit to Princeton, he will be teaching a course titled "Special Topics in Entrepreneurship: Ventures to Address Global Challenges."
Nov 10, 2008 by
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As demand for both oil and gas remain robust--propelled by energy needs in both the developed and the developing world, we wonder if production capacity has become much thinner, and is proving elusive to replace. On November 6th, François Auzerais *89, Houston-based Technology Advisor for Schlumberger presented the company's perspective on the current challenges of adding new oil and gas production capacity while maintaining that from existing fields. During his talk, he showed how the combination of better technology and smarter knowledge can ensure that sufficient reserves of oil and gas exist until substitute sources of energy become available.
Download the presentation (zip, 182 MB, includes ppt and embedded video files)
François Auzerais *89 joined Schlumberger in 1982 as a field engineer with several postings in South America. He later worked at Schlumberger-Doll Research in Ridgefield, Connecticut, as a research scientist before becoming Vice President Research for Schlumberger Oilfield Services. In his 26 years with Schlumberger, Francois covered all the aspect of the oilfield services and held jobs not only in operation and research but also in Engineering as VP product development for the Well Completion and Productivity Segment. François received a Ph.D. in Chemical Engineering from Princeton University.
Oct 14, 2008 by
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We are pleased to announce the availability of two funds to support (a) "engineering students pursuing projects that offer exposure to engineering applications outside the classroom," and (b) "engineering students pursuing projects that combine engineering and policy".
Made possible by the Norman D. Kurtz '58 Fund for Innovation in Engineering Education and the Eugene Wong '55 Fund for Engineering and Policy, students (either as individuals or in groups) can apply for funding.
To get an idea of the kinds of projects that were funded in the past, see this list of projects.
Download the "Kurtz" funding application
Download the "Wong" funding application
Later this year, funds will also be made available through the Wong '55 fund to support "engineering students pursuing internships that combine engineering and policy."
Completed applications should be delivered to the Keller Center for Innovation in Engineering Education (ACE-21 EQuad). More details are contained in the application.
To learn more about Norman Kurtz '58, download this article (pdf, 176KB) from the Spring/Summer 2006 edition of the EQuad News.
To learn more about Eugene Wong '55, read this article from the Summer 2007 edition of the EQuad News.
Please direct any questions to Stephanie Landers in the Keller Center for Innovation in Engineering Education.
Sep 26, 2008 by
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This is a School of Engineering and Applied Science short course on the basics of programming in MATLAB. It is intended for students who have some prior exposure to programming and who want to learn the MATLAB programming environment. MATLAB is used in many upper level engineering courses and students find it useful for performing a wide variety of technical computing tasks for their senior independent work.
The course has two meetings. Each meeting consists of a lecture presentation followed by a hands on programming tutorial under the guidance of teaching assistants. The course carries no credit and will not appear on your transcript. Enrollment is limited. To register please email slanders@princeton.edu with MATLAB (for undergraduate students) and MATLAB GRAD (for graduate students) in the subject line.
Meeting times:
Sep 30 and Oct 1 (Tue and Wed); 6:30-7:30pm lecture, 7:30-8:30pm computer lab for undergraduate students and 8:30-9:30pm computer lab for graduate students.
Location:
Lectures are in Friend 101; and the Lab on Tuesday will be in Friend 009 and 016, and on Wednesday in Friend 016 and in the Electrical Engineering Teaching Lab, F Wing, 100 Level, Under EQuad Cafe.
Apr 7, 2008 by Steven Schultz
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PRINCETON, N.J. -- Recognizing an international need for leaders who can harness technology to solve societal problems, alumnus and innovator in education Dennis J. Keller and his wife Constance Templeton Keller have given Princeton University $25 million to strengthen links between engineering and the liberal arts.
The Kellers' gift will endow and name the University's recently created Center for Innovation in Engineering Education in addition to supporting other initiatives in engineering and ecology.
The new center fosters teaching and student projects that cross conventional academic disciplines, preparing students in all fields -- within engineering and across the natural sciences, humanities and social sciences -- to work side by side to solve problems.
"Major issues facing society today -- energy, environment, health, security -- require a mix of technological, political, economic and historical perspectives," said President Shirley M. Tilghman. "The Kellers, in their tremendous generosity, recognize that need and have given us an exceptionally strong foundation on which to integrate engineering into a liberal arts education."
The gift builds on Princeton's longstanding strength in educating engineers who are broadly grounded in the liberal arts and can reach beyond purely technical approaches to achieve wise and creative solutions. The new center also seeks to extend those connections by creating and supporting engineering courses that attract liberal arts students. For all students, the center emphasizes entrepreneurship, leadership and service.
This initiative comes at a time when studies of the engineering profession and economic competitiveness, including two recent reports from the National Academies, are calling for better integration of technical problem solving within a general education. "With its strengths in both engineering and the liberal arts, Princeton is in a unique position to respond to the need for a new approach to engineering education," said H. Vincent Poor, dean of engineering. "The gift from Dennis and Connie Keller will help set a standard that we expect will have an impact well beyond Princeton."
The pursuit of innovation in engineering education has a personal resonance for Dennis Keller, a charter trustee and vice chair of the executive committee of the Princeton University board of trustees. Keller is the founding chairman of DeVry Inc., one of the world's largest publicly held higher education organizations. DeVry provides educational opportunities to more than 100,000 students worldwide, with an emphasis on preparing them for careers in technology, healthcare, business and management.
"The quality of life for all societies is increasingly connected to our ability to understand, enhance and use technologies," said Keller. "Since the rise of civilization, engineering has been integral to the development of societies and has helped people lead richer and more satisfying lives. More than ever, we must equip our graduates to be effective and innovative in deploying technology in the service of our nation and all nations."
Currently, 60 percent of nonengineering students at Princeton take at least one engineering course; one of the center's goals is to push that percentage to 100. Princeton's School of Engineering and Applied Science currently offers more than 20 courses that engage students from outside the engineering school. These courses place technology in a social and historical context, emphasize entrepreneurship and provide substantial exposure to issues such as energy, the environment, cybersecurity and telecommunications. The gift will strengthen those courses and encourage the development of new ones. It also will support internships, entrepreneurial activities and a vibrant program of lectures and visiting professorships from leaders in business, government and academics.
"We see all students as engineering students," said Sharad Malik, director of the newly named Keller Center for Innovation in Engineering Education. "Despite its pivotal role in modern life, engineering has often been perceived as an isolated discipline. I am extremely grateful to have the Kellers' support in pushing hard in a new direction, shaping an education that spans engineering, the sciences and the humanities and connects academic learning to societal needs."
In addition to their support for the Keller Center, the Kellers designated $2.5 million of their gift for a general innovation fund in engineering. Another $2.5 million will support the Mpala Research Center in Kenya, where Princeton ecologists, biologists and engineers collaborate with colleagues from around the world on issues related to the sustainable use of land, water and animal resources.
As an economics major in Princeton's class of 1963, Keller said it was uncommon at that time for nonengineers to take engineering courses, but the culture of exploring various disciplines was firmly in place. He said he benefitted particularly from courses in Roman history and religion. "Princeton already attracts engineers who see the advantages of drawing on a liberal arts environment," said Keller, who co-chairs the engineering school's advisory council. "We would also like the rest of the students at Princeton to benefit from coursework in engineering and technology that will give them a whole new outlook on their lives."
Poor, who was the founding director of the Center for Innovation in Engineering Education before becoming dean, said the Kellers' gift provides a foundational piece of the school's strategic plan for growth, which is focused on solving problems related to energy, environment, health and security and preparing leaders to make wise use of technology. The gift is part of "Aspire: A Plan for Princeton," the University's recently launched $1.75 billion fundraising campaign, which includes a goal of raising $325 million to support "Engineering and a Sustainable Society."
In addition to his work at DeVry and Princeton, Keller serves as a trustee of the University of Chicago where he earned his master's in business administration. Connie Keller chairs the board of trustees of the Nature Conservancy of Illinois. The Kellers are residents of Oak Brook, Ill.
In 2001, the Kellers made a major gift to support the construction of the Friend Center for Engineering Education, named in honor of Peter Friend, Keller's lifelong friend and roommate, who was killed during their junior year. With its outstanding classroom, library and meeting spaces, the Friend Center has served as a physical connection between engineering and the rest of campus.
"Dennis' wise counsel and support have been invaluable to Princeton," said Poor. "All Princeton students for many generations -- and the communities around the world where they make their mark -- will benefit from his and Connie's generosity."
Feb 14, 2008 by Hilary Parker
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The ability to innovate is not a skill limited to an elite few -- it is something everyone can learn to do, entrepreneur and executive Curtis Carlson told a Princeton audience Feb. 13.
More important, it is something more people must do if our society is to prosper and become sustainable, said Carlson, who is president and chief executive of SRI, an independent, non-profit research institute.
"The good news is that we live in a world of abundance, not scarcity," he said, speaking not of material things, but human ability. "There are no limits to ideas and creativity in the knowledge age."
Carlson's talk, "The Journey from Invention to Innovation," was the first of two events in this year's Princeton-Jumpstart Lecture Series on Technology Entrepreneurship.
Innovation can come in many forms, he said, from the classic disposable razor blade to a revolutionary approach for the manufacturing and distribution of computers. It is not limited to the technical disciplines or the corporate realm and can come from artists and nurses, or chefs and professors, he added.
"Innovation is the creation and delivery of new customer value in the marketplace," he explained. "An invention is not innovation. Creativity is not innovation. Clever ideas are not innovation. Until someone uses the idea, it's just another interesting idea."
Before assuming his current position at SRI Carlson spent more than two decades with Sarnoff Corporation, a wholly owned SRI subsidiary. During his time as head of ventures and licensing at Sarnoff, he helped start more than ten companies. The achievements of two teams he started and led at Sarnoff garnered Emmy Awards for the company for the creation of high-definition television and a system that measures broadcast image quality.
Carlson, the co-author of "Innovation: The Five Discipline for Creating What Customers Want," called for a dramatic change in the U.S. approach to innovation if the country is to remain competitive with the rest of the world.
For example, he said, the government must recognize that most vibrant part of the American economy is in the small companies, which are often subjected to bureaucracy and barriers that limit their success.
Additionally, he said corporations must create and institutionalize innovation systems. While some companies do have such processes in place, including Toyota, it is not often found in today's corporate climate.
"It is a rare, rare company that has a thoughtful innovation process," Carlson said.
Similarly, Carlson described a "brutal educational reality" in which U.S. students are not being taught what they need to know about innovation. Instead, people are often taught to believe that innovation is all about creativity and risk-taking, which Carlson said is simply wrong.
"Entrepreneurs aren't risk-takers, they're risk-mitigators," he said.
For the country to succeed, Carlson said there is a need for a systematic practice of innovation that is focused on customer value. The goal is to create organizations that become better and better at creating value by addressing unmet customer needs.
"Innovation must become a discipline, a science and an art that can be taught, applied and improved," he said.
Feb 8, 2008 by Hilary Parker
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Teamwork, trust and collaboration are key to helping a startup grow in a constantly changing marketplace, Advertising.com chief executive Lynda Clarizio '82 said at a Feb. 7 talk.
"It's not about individual contribution," Clarizio said. "You can't make anything successful unless you have teamwork."
In her talk, "Advancing a Startup: Becoming a Big Business," Clarizio shared insights from her experiences at Advertising.com since joining the company as CEO in 2006 with a mandate to grow the organization.
"How do you achieve great results?" she asked. "You have to make sure everyone understands how their work contributes to the success of the business."
The talk was part of the "Leadership in a Technological World" lecture series, sponsored by Princeton's Keller Center for Innovation in Engineering Education. The annual series is underwritten by the William Pierson Field Lectureship fund.
Prior to joining the Baltimore-based Advertising.com, Clarizio spent seven years at AOL, holding a variety of senior positions, including executive vice president of AOL's audience business and senior vice president for corporate strategic and financial planning. Before joining AOL, she was a partner in the Washington, D.C.-based law firm of Arnold & Porter. She is on the board of Human Rights First and the Princeton University Women in Leadership Steering Committee.
Advertisting.com is the largest online display advertising marketplace in the United States and Europe, supplying more than 2.5 billion ad impressions from 1,000 advertisers to some 8,000 websites every day. The technology at the core of the company's success is a complicated computer system, called Adlearn, which optimizes ad placement to produce the advertisers' desired results.
Designing computer systems to keep pace with the ever-changing Internet is a never-ending task, said Clarizio, noting that Advertising.com, Google and eBay have all had to overcome challenges during growth when existing systems couldn't handle the additional demand.
"Scale is really, really important," she said, emphasizing that start-ups should start preparing early on for a time when they'll be running billions of transactions every day. "It's all about scale and planning for future growth."
As important as growth is to a venture's success, Clarizio said managers must be prepared to navigate potential problems wrought by a changing company. One of the biggest challenges is to preserve the entrepreneurial spirit and avoid developing a bureaucratic corporate culture.
"Always keep small teams. And empower them," Clarizio said, discussing the importance of ensuring that employees can accomplish tasks without becoming entangled in bureaucratic red tape.
An inclusive environment is another "must," she said, referring to Advertising.com's practice of giving out silly awards to build team spirit as well as the company's daily morning meeting, which is led by the most junior people in the company.
But at the end of the day, and regardless of any past or current success, a company's continued progress in today's technological marketplace is never a foregone conclusion, Clarizio concluded.
"There is nothing more dynamic than the Internet, nothing changing as quickly as Internet advertising," she said. "You never can rest, you have to constantly be thinking about what you can do next. You have to be able to respond to changes in this industry every day."
Jan 24, 2008 by Hilary Parker
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Entrepreneurial thinking is not just for start-up companies and can be applied to all situations, business school professor Julian Lange told a Princeton audience Oct. 4 as he kicked off a five-workshop series on "Harnessing the Power of Entrepreneurship."
Entrepreneurship is about creating new ideas, putting them into action and creating value for the stakeholders, he said. While value is often equated with money, Lange encouraged audience members to broaden their definition of the term.
"Nothing is wrong with creating companies that produce useful goods for society, but there are many other organizations that entrepreneurship and entrepreneurial ways of thinking can benefit," he said. These include governments, large corporations and nonprofit organizations.
Whatever the endeavor, successful entrepreneurs pursue their passions relentlessly, take action and have fun, Lange said. But, they aren't perfect.
"If you're not making mistakes, you're not trying hard enough, not taking enough chances," he said, offering a quote from hockey legend Wayne Gretzky: "You miss 100 percent of the shots you don't take."
Lange, a professor of entrepreneurship and public policy at Babson College, currently is serving as the inaugural Dean's Visiting Professor in Entrepreneurship in Princeton's Center for Innovation in Engineering Education, which is sponsoring the workshops. Lange earned a bachelor's degree in economics from Princeton in 1965 as well as an M.B.A. and Ph.D. from Harvard University. He is the founder and president of the Chatham Associates management consulting firm. Previously, he served as president and chief executive officer of Software Arts Inc., which created VisiCalc, the first electronic spreadsheet.
Each event in the series included guest speakers who have used the entrepreneurial process to effect major changes in areas not traditionally associated with entrepreneurial thinking.
The inaugural workshop featured Craig Benson, former governor of New Hampshire and co-founder of Cabletron Systems, one of the first major providers of computer networking equipment.
Other speakers included: Peter Kellner, a 1991 Princeton graduate and co-founder of Endeavor, an organization that supports entrepreneurs in developing countries; Francis Pandolfi '65, consultant to non-governmental and non-profit organizations and former chief operating officer of the U.S. Forest Service; and Walter Skowronski, president of Boeing Capital Corp. and senior vice president of Boeing Co. On Nov. 8, a panel of Princeton luminaries discussed entrepreneurship in higher education: Edward Felten, director of the Center for Information Technology Policy; David Botstein, director of the Lewis-Sigler Institute for Integrative Genomics; and Nancy Malkiel, dean of the college.
Stories and videos of the talks are available at:
Nov 16, 2007 by Steven Schultz
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From conducting "dreaming sessions" with customers to hiring a high school student to run errands, Xerox executive Sophie Vandebroek shared professional and personal insights into leadership and technology at a talk Nov. 15.
"You have to create an environment where the researchers and the scientists and all the people working with you have fun," said Vandebroek, Xerox's chief technology officer, as she outlined five basic principles that guide her work and personal interactions.
"It's all about making someone passionate because only if you're passionate do you do really great work."
Her talk, "Xerox Innovation," was part of the "Leadership in a Technological World," lecture series sponsored by Princeton's Center for Innovation in Engineering Education and underwritten by the William Pierson Field Lectureship fund.
In addition to creating an inspiring environment, Vandebroek said she focuses on hiring the best and most diverse group of people and building strong working relationships within the company; listening to customers; supporting open innovation and partnering with outside companies with strong ideas; and looking for opportunity even in the worst of situations.
The principles have all been important as Xerox has executed one of the most dramatic corporate turn-arounds in recent history. The company was on the verge of bankruptcy in 2000 when its current chief executive Anne Mulcahy (who delivered a previous address in the same lecture series) took over. Refocusing its products and level of innovation, the company quickly returned to profitability, going from a loss of $400 million per year to a net income of $1.2 billion. In the last two years, the company refreshed 95 percent of its product line, Vandebroek said.
One major change for the company is its increasing attention to services -- helping customers deal with the volumes of information and paper they produce. The company also continues to develop new products, from a reusable paper that wipes itself clean a couple days after it comes out of a printer to personalized book printing.
In one example of putting her principles into practice, Vandebroek described how the company developed liquid chemical toners to replace dry powder toners that have been used for many years. Although the new product was higher quality, less costly to use and better for the environment, inventing it was only part of the challenge.
"It was very difficult even within the company to commercialize the technology, she said, describing how people were invested in producing and selling powdered toner. "Understanding and having respect for the relationships was the only way this all got resolved." Many products and services grow from and are refined by "dreaming sessions" at which technologists, marketing experts and anthropologists meet to figure out what would be most helpful in real work environments. The sessions involve showing customers nascent technology asking how it might be useful. "If Henry Ford had asked people what they wanted, they would have said a faster horse," Vandebroek said. "People don't know the capabilities of future technologies."
Vandebroek also described how she keeps balance in her life especially after the death of her husband 11 years ago, which left her to raise three children by herself. Among her tricks for maximizing her time with her family: automating her grocery list and hiring a high school student to go buy them.
"Life is too short not to have fun in what you do each and every day," she said.
The next event in the lecture series will be a Feb. 7, 2008, lecture by Lynda Clarizio, the president of Advertising.com.
Nov 14, 2007 by Steven Schultz
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Classic entrepreneurial thinking -- creating new markets for entirely new products -- can be a route to failure at large corporations, even when very well managed, a senior Boeing executive told a Princeton audience Nov. 13.
Walter Skowronski (left in photo), president of Boeing Capital and senior vice president of Boeing Corp., spoke about corporate entrepreneurship at the last of five workshops on applying the principles of entrepreneurship in settings other than start-up companies.
Calling Boeing an exceptionally well run company and an "absolute powerhouse when it comes to technology," Skowronski described several of the company's entrepreneurial initiatives that ended well short of original expectations, from a $200 million fund for seeding spin-off technology ventures to a new system for air traffic management. All were attempts to significantly increase revenue -- or "move the needle" -- at a company that already has more than $60 billion in annual revenues.
Boeing launched a number of new ventures and initiatives earlier this decade. Many ended the victim of bad timing, either a) being ahead of their time, or b) caught in the downdraft of major economic shifts. Others simply lacked the appropriate resources or expertise required for success.
Large corporations often can find it hard to justify spending money and using their best executives for ventures that might have large absolute, but small relative pay-offs, he said. "The numbers get lost in the rounding. A successful new venture could be a grand slam for the people who did it, but may bring very little value for Boeing."
"If you can bring your existing technology to new customers, you're probably going to be ok," Skowronski said. "Or you can bring new technology to existing customers. What you don't want to do is bring new technology to new audiences. That's often a recipe for disaster."
Instead of trying to reproduce the success of go-for-broke young companies, large corporations in search of new ideas may do better to acquire other companies that have already developed an innovative idea.
"We are great at going out and picking companies that are a little more mature," Skowronski said of Boeing. "We fit them into our business and they dovetail very, very well."
The workshop series, titled "Harnessing the Power of Entrepreneurship," was led by Julian Lange (right in photo), the Dean's Visiting Professor in Entrepreneurship at Princeton's Center for Innovation in Engineering Education. Lange, a professor of entrepreneurship and public policy at Babson College, also led sessions on the subjects of entrepreneurship in government, economic development, non-profit organizations and higher education.
In the spring 2008 semester, he will teach a new course titled "Managing High-Growth Entrepreneurial Ventures."
Nov 9, 2007 by Steven Schultz
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University researchers do not often bring new products and services directly to the marketplace, but a key part of their job is same as that of entrepreneurs, according one panelist at a Nov. 8 workshop on entrepreneurship.
"We find ways of doing things that weren't done before and find things out about the world that weren't known before," said Ed Felten, a Princeton professor of computer science and director of the Center for Information Technology Policy. "That's our core job."
The panel discussion on "Entrepreneurship in Higher Education" was the fourth in a series of five workshops on applying the principles of entrepreneurship in settings other than start-up companies. Other topics in the series, led by visiting professor Julian Lange, included government, economic development, non-profits and large corporations.
While intellectual entrepreneurship is the bread and butter of faculty research, Felten said, organizational entrepreneurship within institutions of higher education is a different matter and happens less often. His co-panelists, Nancy Malkiel, Princeton's dean of the college, and David Botstein, a geneticist and director of the Lewis-Sigler Institute for Integrative Genomics, told the audience about their own efforts to bring about change within the teaching and administrative structure of Princeton.
"I have no ability to make change happen unless I can persuade a significant fraction of some 800-plus faculty members that it makes sense," Malkiel said. "Unlike someone in the corporate world, I can't say: Do this. I have to rely on persuasion and analysis and a variety of other efforts that might be described as soft, rather than hard power."
Malkiel described two projects she led: one to curb grade inflation at Princeton and the other to encourage students to choose majors in a greater variety of departments and more evenly redistribute students among departments. The first grew out of a request by the University's Committee on Examinations and Standing, while the second was Malkiel's own initiative.
Combating grade inflation required collaboration between the committee members and department chairs to draft a University-wide policy that was eventually voted into effect at an all-faculty meeting in April 2004. "That, in and of itself, did not make change happen," Malkiel said. "This is not easy work. Individual faculty members -- one by one -- individual departments -- one by one -- determine whether change happens ... You have to apply constant attention, constant vigilance, reminders, exhortations, praise, encouragement, and confrontation about lack of progress in order to sustain the change."
Today, Princeton is widely regarded as a rare example of a university that has made significant progress in reversing the trend toward higher and higher grades.
Botstein prefaced his remarks by questioning whether the words "academic entrepreneurship" go together and said the slow pace of change at universities is one reason behind a central concern of his: How to make scientific education more engaging for students. The conventional academic structure requires science students to absorb several semesters of lecture-style courses in math, physics and biology without an opportunity to put them all to use in pursuing actual research.
"All the factors that cause this to be so are well documented and agreed upon but no one can make it change," Botstein said.
To address the problem, Botstein created an innovative science course that integrates mathematics, physics, biology and computer science along with hands-on labs that closely resemble the kind of work actual scientists do.
The key, he said, was for the initiative to come from the Lewis-Sigler Institute, which is outside the structure of any particular department. Also, the course was not an attempt to change the way these subjects had been taught for many generations in their regular departments.
"We weren't going to play a zero-sum game. We did this as an experiment to the side of the existing curriculum," Botstein said. "It's a demonstration -- an 'existence proof,' if you will -- that there is a better way to do this."
Ideas from the course have now begun to influence the conventional curricula, he said. (The engineering school subsequently created an integrated course series that combines engineering, math and physics.)
The panelists agreed that one difference between business entrepreneurs and faculty members trying to bring change to their institutions is the level of risk they are exposed to. While entrepreneurs often put themselves at financial risk, Botstein said, academics have the protection of tenure, which is designed to encourage innovative thinking.
"I never felt I was risking my reputation," Botstein said. "I'm a scientist. We do experiments. Some experiments fail."
"One factor in all of these cases, is having a different evaluation of how risky something is than other people do," said Felten, who described how he changed the course of his research and headed into computer security and technology policy at times when those were not mainstream fields. "If you are really convinced that something is less risky than it seems from the outside, then it's a lot easier to do it."
Oct 29, 2007 by Hilary Parker
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Entrepreneurial thinking is essential to the growth of non-profit and non-governmental organizations, Francis Pandolfi, the former chief operating officer of the U.S. Forest Service, said Oct. 18 at Princeton.
"Entrepreneurs have to be ready to deal with change and develop new opportunities from things that change. It is no different in the not-for-profit sector," he said. Pandolfi, who earned his B.S.E. in chemical engineering at Princeton in 1965, has experience in both the private and the public sectors. Prior to his position in government, he served as the chief executive officer of the Times-Mirror Magazines Corp.
Now working as a consultant to non-governmental organizations, Pandolfi discussed four important topics for non-profit entrepreneurs in the third workshop in the "Harnessing the Power of Entrepreneurship" series, sponsored by the Center for Innovation in Engineering Education. The series explores the application of entrepreneurial practices in settings other than startup ventures.
First, Pandolfi stressed the importance of a statement of purpose to non-profit organizations of all sizes.
"Private-sector organizations are profit-driven, non-governmental organizations are mission-driven," he said. "It's a very crucial distinction." This emphasis makes it imperative for organizations to have a compelling and competitively distinct statement that provides guidance and definition. "You're looking for an action tool versus a slogan."
All operations are faced with options and must decide between alternative uses for resources, whether a publishing house trying to choose whether to acquire another magazine or a small non-profit organization selecting particular programs to fund. A clear statement of purpose will help non-profit managers decide whether a given option will help accomplish their overarching goals, Pandolfi said.
Second, once a clear statement is in place, organizations must develop clear strategic plans, business plans and budgets to accomplish their goals, according to Pandolfi.
"A new idea without a plan is just another new idea," he said.
While strategic plans set a broad vision, business plans and budgets are necessary to spell out specific actions and tactics to bring the strategic plans to fruition, Pandolfi said.
Third, organizations must define clear performance measures to evaluate progress. Entrepreneurs in non-profit organizations have to focus on results just as they would in the private sector.
"If you can't measure it, you can't manage it," Pandolfi said.
Fourth, non-profit leaders should consider marketing. Pandolfi said experience has taught him that the concept of marketing is not typically well-received in either government or non-profit institutions because people tend to think of marketing as black magic -- convincing people to buy something they don't need for more than the product or service is worth.
"They don't get it," he said. "Marketing is finding out what people want and delivering it to them." It goes far beyond selling and requires extensive market research, which Pandolfi said is essential for non-profit organizations trying to remain competitive in a world where funds and volunteers are both extremely limited.
The next event in the workshop series, "Entrepreneurship in Higher Education," will be held at 4:30 p.m. on Nov. 8 in Bowen Hall Auditorium.
Oct 17, 2007 by Bob Monsour
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Eleven high-tech entrepreneurs gave of themselves for more than two hours Oct. 16 at Princeton's Friend Center for Engineering Education, sharing stories and answering questions about how they founded and grew their organizations into successful enterprises with dozens of students, faculty and community members.
The Meet the Entrepreneurs event, co-sponsored by the Center for Innovation in Engineering Education and the Princeton Institute for the Science and Technology of Materials, was inspired by Greg Olsen, Princeton's Entrepreneur-in-Residence.
"I think it's a great way for students, faculty, and other aspiring entrepreneurs to learn from people who have built and grown successful organizations from scratch," said Olsen.
Princeton's student entrepreneurship club was well represented at the event, meeting entrepreneurs and getting ideas for the business plan competition they are planning for later this year.
"I met some really wonderful people who gave me some great ideas for making the club more effective and for making our upcoming competition a success," said Bethani Massey, a member of the Princeton class of 2010.
The Center for Innovation in Engineering Education, as one aspect of its mission, is working to expose students to entrepreneurship in a variety of ways.
"Building on the popular 'High-Tech Entrepreneurship' course taught by professor Ed Zschau, and with Greg Olsen's presence as Entrepreneur-in-Residence, events like this allow students to engage directly with successful entrepreneurs and learn from their experiences," said Sharad Malik, director of the center.
In addition to this event, the center is sponsoring a series of five workshops, titled "Harnessing the Power of Entrepreneurship." The theme of the series is the application of entrepreneurial approaches to areas other than starting companies: government, higher education, non-profit organizations, large corporations and regional economic development. The next event in the series will be held Oct. 18 in Bowen Hall Auditorium. The workshops are free and open to the public.
Oct 15, 2007 by Hilary Parker
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Successful entrepreneurs create environments where others can do great things, Peter Kellner said in an Oct. 11 workshop at Princeton.
Kellner, a 1991 graduate of the University, is the co-founder of Endeavor, a non-profit organization that funds "high-impact entrepreneurs" in emerging markets. A member of the Council on Foreign Relations, he also is the founder and managing director of the New York City-based financial firm Richmond Management.
Kellner's appearance at Princeton was the second event in the "Harnessing the Power of Entrepreneurship" series, sponsored by the Center for Innovation in Engineering Education. The five-event series features guest speakers from a variety of settings not traditionally associated with entrepreneurship, including non-profit organizations, government and higher education.
Series organizer Julian Lange, the Dean's Visiting Professor for Entrepreneurship, introduced Kellner as a "visionary leader" who has taken a concept and made it a resounding success.
This success didn't always come easily, Kellner said, admitting that a failure early in his career taught him an all-important lesson in entrepreneurship: "You have to enable others to lead," he said.
After graduating from Princeton with a degree from the Woodrow Wilson School, he headed to Hungary on a Fulbright scholarship to study political transformation. Shortly after his arrival, he was overwhelmed by the state of the environment, which led him to establish the Environmental Law and Management Association of Hungary. Modeled after the U.S.-based Natural Resources Defense Council, the association brought together academic leaders from a variety of disciplines to address the environmental crisis.
Having assured the association's members that funding was in the bag, Kellner was stunned when the Rockefeller Brothers Fund flatly rejected his initial application for support. The fund's leaders said they would not back a Hungarian organization led by a young American, Kellner recalled, but would likely provide support with a change in the association's leadership to help ensure longevity. Kellner took their advice and, a mere 24 hours later, the fund backed EMLA under the direction of a Hungarian lawyer, Sandor Fulop. Fulop remains the executive director of the organization to this day.
This anecdote illustrated the importance of what Kellner dubbed "opportunity correspondence" -- essentially, the fact that all of the people and organizations relevant to a given mission have to see the opportunity as a "win-win situation."
Endeavor, which Kellner co-founded in 1997 with Linda Rottenberg, is built on a solid understanding of this principle. Every time an affiliate is opened in a new country -- there are now 11 affiliates located in Latin America, Europe, Southeast Asia and Africa -- the first priority is to gain the support of the local business and university communities. Only with the trust and backing of the local community will the Endeavor affiliates seek nominations for entrepreneurs to support, Kellner said.
The ventures backed by Endeavor in the past decade include businesses in wide-ranging industries, from fashion to airline travel. The key, according to Kellner, is to find "high impact entrepreneurs" who inspire others to follow. As an example, he cited Rodrigo Jordan of Chile -- a hugely admired "local star" who founded Vertical, a company that provides leadership training through outdoor experiences.
"Entrepreneurship doesn't require inventing something altogether new," Kellner said, telling the audience that many ventures borrow best practices from other successes.
Endeavor itself is modeled after Ashoka, a global association for social entrepreneurship founded by Bill Drayton. With Drayton's bidding, Kellner and Rottenberg modified Ashoka's approach to supporting non-profit ventures for the private sector.
Kellner is currently a member of Ashoka's North American Council. In addition to his bachelor's from Princeton, he holds an M.B.A. from Harvard Business School and a law degree from Yale.
Since Endeavor's founding a decade ago, the organization has provided support to 264 entrepreneurs, selected from 17,000 nominations. Ninety-six percent of the ventures backed are still in business, and they have created around 80,000 jobs around the globe. The companies backed by Endeavor generate roughly $2 billion in revenue annually.
Kellner's entrepreneurial career began against a backdrop of world-changing events, particularly the fall of the Berlin Wall in 1989, and he encouraged current Princeton undergraduates to take advantage of a similarly momentous time in history. Particularly exciting, he said, is the convergence of the non-profit and private sectors, which presents a unique opportunity to make the world a better place.
"I can't imagine a more exciting world than today," he said. "The opportunities are so significant to go out and make a difference."
Future guest speakers in the series include Francis P. Pandolfi '65, Consultant to NGOs/Non-Profit Organizations and Former Chief Operating Officer, U.S. Forest Service; Walter Skowronski, president of Boeing Capital Corp. and senior vice president of Boeing Co.; Edward Felten, Princeton computer scientist and director of the Center for Information Technology Policy; Princeton professor of genomics, David Botstein and director of the Lewis-Sigler Institute for Integrative Genomics; and Nancy Malkiel, Princeton's dean of the college.
Oct 10, 2007 by Hilary Parker
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After being elected governor of New Hampshire in 2003, Craig Benson realized that entrepreneurial practices are as important to success in government as they are in the business world, he told a Princeton audience Oct. 4.
"Entrepreneurship works in whatever business you're in," he said, kicking-off a five-workshop series that explores the application of entrepreneurial principles in a variety of settings beyond startup ventures. The series -- "Harnessing the Power of Entrepreneurship" -- is sponsored by Princeton's Center for Innovation in Engineering Education.
Prior to becoming the first high-tech entrepreneur ever elected to a U.S. governorship, Benson co-founded one of the first major providers of computer networking equipment -- Cabletron Systems -- in 1989. Six years later, he and his partner took the company public, learning the ins and outs of Wall Street on the job.
Using a variety of anecdotes, Benson offered four entrepreneurial practices for success in any endeavor: making decisions, taking calculated risk, understanding the power of culture and striving to be the best.
"Ninety percent or higher of people rely on somebody else to make decisions for them," he said. "To be a leader, you've got to make decisions." Even the best decision-makers aren't right all the time, he said, but their willingness to try new things often leads to success in the end. Recognizing this, he said he encouraged senior executives at Cabletron to share their mistakes with him as proof of their desire to enact positive change.
But there is a difference between foolhardiness and taking careful risks, Benson said, telling a story of his hang-gliding days while an undergraduate at Babson College, where he now teaches in the business school. While admitting that all hang-gliding is dangerous, Benson said he always came prepared, working with an instructor and taking safety precautions to minimize risk. This willingness to understand and prepare for the risks involved in new ventures served him well when Cabletron acquired Digital Equipment Corp.'s network business, he said.
This acquisition also drove home to Benson the power of culture, he recalled. At the time, the Digital employees were accustomed to a leadership style very different from Benson's. Benson said he realized the importance of creating a culture that worked for all of his employees and strove to build an environment where everyone could prosper. He later used this experience to engage state employees in New Hampshire, he said, such as with awards programs established to recognize innovative workers.
These workers demonstrated craftsmanship -- one of the most important principles in entrepreneurship, according to Benson. Defining a craftsman as "somebody who wants to be the best at what they do," Benson said a desire to succeed and constantly improve is "a real differentiator."
Professors Ed Zschau (left) and Julian Lange, Dean's Visiting Professor of Entrepreneurship. (Photo: Frank Wojciechowski)
Prior to Benson's talk, workshop series organizer Julian Lange offered a brief introduction to entrepreneurship. Lange, a professor of entrepreneurship and public policy at Babson College, is currently serving as the inaugural Dean's Professor in Entrepreneurship in the Center for Innovation in Engineering Education.
Entrepreneurship is about creating new ideas, putting them into action and creating value for stakeholders, he said. While value is often equated with money, Lange encouraged audience members to broaden their definition of the term.
"Nothing is wrong with creating companies that produce useful goods for society, but there are many other organizations that entrepreneurship and entrepreneurial ways of thinking can benefit," he said. These include governments, large corporations and non-profit organizations.
Lange earned a bachelor's degree in economics from Princeton in 1965 as well as an M.B.A. and Ph.D. from Harvard University. He is the founder and president of the Chatham Associates management consulting firm. Previously, he served as president and chief executive officer of Software Arts Inc., which created VisiCalc, the first electronic spreadsheet.
Future guest speakers include Peter Kellner, a 1991 Princeton graduate and co-founder of Endeavor, an organization that supports entrepreneurs in developing countries; Francis P. Pandolfi '65, Consultant to NGOs/Non-Profit Organizations and Former Chief Operating Officer, U.S. Forest Service; Walter Skowronski, president of Boeing Capital Corp. and senior vice president of Boeing Co.; Edward Felten, Princeton computer scientist and director of the Center for Information Technology Policy; Princeton professor of genomics, David Botstein and director of the Lewis-Sigler Institute for Integrative Genomics; and Nancy Malkiel, Princeton's dean of the college.
Oct 3, 2007 by Hilary Parker
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Leaders are able to paint a vivid picture of a better future and inspire others to that vision, Frank Moss told a Princeton audience Sept. 26, kicking off the second year of a popular leadership lecture series.
Moss illustrated his point by sharing his own vision for the future and how he is making it come true as the director of the world-renowned Media Lab at the Massachusetts Institute of Technology. His talk was part of the "Leadership in a Technological World" lecture series, which is sponsored by the Center for Innovation in Engineering Education.
Under Moss' direction, the lab is broadening its mission from the development of "gadgets and gizmos" to creating technologies that blur the distinction between human ability and disability, he said.
"What is going to be my success in my tenure at the media lab?" he asked. "If, in ten years when somebody drives by ... they say 'Thank you, Media Lab,' that will be success." Many have already expressed their gratitude to the lab, from people with autism benefiting from computers that help interpret emotions to Iraq war veterans testing "smart" prostheses that behave indistinguishably from actual limbs.
Moss graduated from Princeton in 1971 with a B.S.E. in mechanical and aerospace engineering and earned his M.S. and Ph.D. in aeronautics and astronautics from MIT. A Princeton trustee and a member of the School of Engineering and Applied Science Leadership Council, Moss received the Ernst & Young Entrepreneur of the Year award and was named one of Forbes Magazine's "Leaders for Tomorrow."
In addition to having a clear and inspiring vision, Moss said, true leaders design environments to help people turn that vision into a reality.
"The most important thing is to create an environment where people have trust," he said. "There are no right or wrong decisions -- the only decision that is wrong is the one that is not made. There are many ways to get from A to B."
Moss drew on examples from his professional and personal life to prove his point. For instance, after starting out at IBM, he ultimately moved on to Apollo Computer Inc. when senior leadership at IBM wasn't open to new ideas. This led to a 25-year career in the software and computer industries, including executive management positions at Apollo and Lotus Development Corp. More recently, when his children asked him to think about his contributions to society, he decided to exit his company -- at the time he was chief executive officer and chairman of Tivoli Systems Inc. -- by selling it to IBM.
"I began to look for more meaning in my life," he said. "I wanted to take what I've learned and do something good for human beings." This ultimately led to his co-founding Infinity Pharmaceuticals, Inc., an early-stage cancer drug discovery company at the intersection of technology and the life sciences. This paved the way for him to become the director of the Media Lab in 2006, after he visited the lab and realized the contributions it could make to society.
He ended his lecture with a video clip of Dan Ellsey, a patient at the Tewksbury State Hospital who suffers from severe cerebral palsy. Through the use of innovative software, Ellsey is able to compose music even though his motion is limited to movements of his head. In the video, Ellsey is on stage in front of a huge audience at MIT, performing one of his pieces expressively thanks to a Media Lab computer interface that measures and interprets his movements.
The ecstasy on Ellsey's face when he finished, accompanied by the thunderous applause of the audience at MIT, is a clear indication of the future Moss is helping to create.
Future events in the lecture series, which is underwritten by the William Pierson Field Lectureship Fund, will include a Nov. 15 talk by Sophie Vandebroek, chief technology officer of Xerox Corp., and a Feb. 7, 2008, lecture by Lynda Clarizio, the president of Advertising.com.
Sep 13, 2007 by Hilary Parker
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Mechanical and aerospace engineering major Zhen Xia is accustomed to solving problems that have cut-and-dried solutions, but an internship at IBM this past summer taught him how to approach problems that don't have one right answer.
As part of a new internship program, Xia spent three months working with senior marketing executives at the IBM corporate offices in Somers, N.Y. From analyzing the brand's image to establishing a business case for a new product launch, he found himself in the midst of the complicated intricacies of the business world.
"Unlike technical problem-solving where everything is black and white, problem-solving in business deals heavily with people and customers who have many different viewpoints," Xia said. "In business, there are various shades of gray, which make things exciting and interesting."
Mechanical and aerospace engineering major Zhen Xia worked at IBM corporate offices in Somers, N.Y., with senior marketing executives including Florence Hudson, who earned her degree in the same field from Princeton in 1980. (Photo: Alan Zale)
This is precisely the type of knowledge that the creators of the Preparing to Lead internship program hoped rising seniors would gain from the experience, which closely pairs undergraduates with business leaders to provide opportunities that wouldn't be possible in traditional internships. Offered by the Center for Innovation in Engineering Education, the program was first envisioned by center director Sharad Malik to help prepare Princeton students for leadership positions in a technology-driven society.
"Our expectation is that Princeton students will rise to the highest level, and this program allows them the opportunity to experience corporate leadership before they even begin their careers," said Malik, the George Van Ness Lothrop Professor of Engineering.
The valuable learning experiences were made possible by a strong alumni network, which counts among its ranks many leaders in technological businesses. In the inaugural year of the Preparing to Lead program, five executives from a variety of corporations worked with the School of Engineering and Applied Science to design internships for six current undergraduates. Students applied for the program through the Office of Career Services TigerTracks system, and partner corporations interviewed applicants and made hiring decisions.
"How better to expose our students to corporate decision-making than by placing them in close proximity to senior executives?" asked Bob Monsour, associate director of external affairs for the Center for Innovation in Engineering Education, who facilitated the internships.
Florence Hudson, the vice president of marketing and strategy for IBM mainframe System z, served as Xia's mentor throughout the summer. A 1980 Princeton graduate with a degree in mechanical and aerospace engineering, Hudson jumped at the chance to share what she has learned throughout her career. Over the course of the summer, she met with Xia regularly to discuss leadership and engage him in real projects.
"Being a business leader with an engineering degree from Princeton, and knowing how much I didn't know about business when I graduated, I knew I wanted to teach a Princeton engineering student what I've learned about business and leadership," Hudson said. "It's important to understand how to lead others to do what's right, how to link the business needs and value to the engineering and technology, and how to succeed in the complex world of business."
During Xia's time at IBM, he also worked closely with John Burg, System z product marketing manager, which provided him with another valuable perspective on corporate leadership.
"I loved my weekly talks with Florence and John," Xia said. "They shared a lot of their personal experiences and career development advice. One of my most memorable conversations with Florence was about speed bumps. She told me that life is like a series of speed bumps: obstacles may slow you down but will never stop you as long as you believe in yourself."
Ruth Fombrun was one of six Princeton undergraduates who completed internships this past summer through Preparing to Lead, a program that pairs rising seniors with business leaders to provide opportunities that wouldn't be possible in traditional experiences. "Unlike other engineering-related internships I considered, 'Preparing to Lead' offered me exposure and learning opportunities in both business and engineering, which was critical for someone like myself whose interests had migrated closer to business and further from a traditional engineering career," said Fombrun, a chemical engineering major who worked in the treasury department at Sealed Air, a global packaging company in Elmwood Park, N.J. (Photo: Courtesy of Sealed Air)
While Xia spent his summer at a corporate giant, other students in the Preparing to Lead program had the opportunity to witness the inner workings of much smaller businesses. Saed Al Shonnar, a senior majoring in chemical engineering, spent two months conducting market research for WildPackets, a network software company in Walnut Creek, Calif. Al Shonnar reported to WildPackets chairman Mahboud Zabetian, a member of the Princeton class of 1988.
WildPackets chairman Mahboud Zabetian (left), a member of the Princeton class of 1988, shared his corporate experiences with senior Saed Al Shonnar at the network software company in Walnut Creek, Calif. A chemical engineering major, Al Shonnar plans to put his newfound corporate knowledge to use in future entrepreneurial ventures. (Photo: Bob Monsour)
With an interest in entrepreneurship, Al Shonnar applied to the Preparing to Lead program seeking to examine the inner-workings of a small company. He wasn't disappointed.
"The internship is exactly the kind of experience I was hoping to have this summer," he said. "I have been closely exposed to the dynamics of a small- to medium-sized company and I learned more about business aspects applicable to most companies."
The first year of the Preparing to Lead program also placed Eva Leung at medical device firm Integra LifeSciences in Plainsboro, N.J., Geoffrey Hamilton at e-mail marketing company Return Path in New York City, and Ruth Fombrun and Malik Saunders at Sealed Air, a global packaging company, in Elmwood Park, N.J., and Greenville, S.C., respectively.
"Unlike other engineering-related internships I considered, 'Preparing to Lead' offered me exposure and learning opportunities in both business and engineering, which was critical for someone like myself whose interests had migrated closer to business and further from a traditional engineering career," said Fombrun, a chemical engineering major who worked in the Sealed Air treasury department. "I learned so much more about business and finance than I ever could have imagined."
Malik and Monsour said they are pleased with the success of the program in its first year and look forward to improving upon it in years to come. In addition to enlarging the program to include opportunities for more students at a greater number of companies, they hope to increase the amount of time interns spend interacting with their corporate mentors. To introduce more students to the program, this year's interns will participate in a panel discussion during the upcoming academic year.
Xia, for his part, looks forward to telling interested students about his Preparing to Lead experience and helping the program to grow.
Sep 10, 2007 by Bob Monsour
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Harnessing the Power of Entrepreneurship is a series of workshops designed to appeal to faculty and students from a wide variety of departments on campus, as well as alumni and community members. The theme of the series is the application of entrepreneurial approaches in areas other than starting companies: government, higher education, non-profit organizations and NGOs, large corporations, and regional economic development. The workshops will feature a speaker or panelists who will describe innovative approaches that they have implemented in their specific area as a basis for a discussion with the workshop participants.
The series will be led by longtime entrepreneur and business school professor Julian Lange '65, a professor of entrepreneurship and public policy at Babson College. Professor Lange is currently serving as the inaugural Dean's Visiting Professor in Entrepreneurship in the Princeton University Center for Innovation in Engineering Education. The series, sponsored by the center, is free and open to the public.
The sessions will be held from 4:30-6:00PM on the dates and at locations listed below, followed by a reception where speakers, panelists, and workshop participants may continue the discussion informally.
Date: Thursday, October 4, 2007 Location: Bowen Hall Auditorium
Speaker: Craig R. Benson, Former Governor of New Hampshire; Co-Founder, Cabletron Systems
Craig Benson is the first high-technology entrepreneur to be elected to a U.S. governorship. Making government more entrepreneurial was a major initiative of Governor Benson's administration. Governor Benson will share his views and experiences on topics including making government more transparent, encouraging government employees to take risks, leveraging technology to serve citizens' needs, and fostering public/private partnerships.
Date: Thursday, October 11, 2007 Location: Friend Center Convocation Room
Speaker: Peter Kellner '91, Co-Founder of Endeavor and founder & Managing Director of Richmond Management
Peter Kellner will provide insight into Endeavor's impressive 10-year record of accomplishment in identifying high-impact entrepreneurs in emerging and developing countries and supporting their efforts to create jobs and significant businesses. Topics include capital investment, multiplier effects, education and training, and sustainable development.
Date: Thursday, October 18, 2007 Location: Bowen Hall Auditorium
Speaker: Francis P. Pandolfi '65, Consultant to NGOs/Non-Profit Organizations; Former Chief Operating Officer, U.S. Forest Service; Former Chief Executive Officer, Times-Mirror Magazines Corp.
Francis Pandolfi is a Princeton alum with deep experience in leading companies and organizations in both the private and public sectors. His presentation will focus on the application of entrepreneurial principles to NGOs and non-profits as a means of helping these organizations achieve their objectives. Topics discussed will include the process of defining and implementing the objectives of non-profits and NGOs, the development and use of metrics, the role of technology in leveraging resources, and future directions, trends, and initiatives.
Date: Thursday, November 8, 2007 Location: Bowen Hall Auditorium
Panelists: Princeton Dean of the College Nancy Malkiel; Princeton professor of genomics David Botstein and director of the Lewis-Sigler Institute for Integrative Genomics; Princeton computer scientist and director of the Center for Information Technology Policy Edward Felten
Professor Julian Lange '65 will moderate a panel of experts who will provide their perspectives on the technological, organizational, and policy issues that must be addressed to enable entrepreneurial initiatives in higher education. Panelists will be drawn from fields including biotechnology and life sciences, computer science and engineering, and university administration.
Date: Tuesday, November 13, 2007 Location: Friend Center Convocation Room
Speaker: Walter E. Skowronski, President, Boeing Capital Corporation; Senior Vice President, The Boeing Company; Former Senior Vice President of Finance & Treasurer, The Boeing Company
Walter Skowronski will offer his perspective on applying the principles of entrepreneurship and entrepreneurial thinking to large, technology-driven companies. Topics will include fostering innovation, identifying, developing, and managing significant projects within the overall corporate mission, and building sustainable initiatives to promote corporate entrepreneurship.
May 11, 2007 by Hilary Parker
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When entrepreneur Ken Kay started his first business, he didn't have a proven product. He didn't have any customers. But he did have an undeniable passion, which he shared in a May 8 panel discussion at Princeton.
Jumpstart members Bill Martin, Ken Kay, and Mario Casabona. Photo by Steven M. Schultz
"I felt excited," said Kay, who ultimately sold the business to Microsoft Great Plains and now chairs the Jumpstart New Jersey Angel Network of private investors. "I had control over my own destiny. If you're considering being an entrepreneur, you have to have a similar passion. For you, there's no other choice - you have to do this."
Kay shared his story and offered advice to audience members at the event, "From Founders to Funders: Nurturing the Next Generation of Entrepreneurs," which was sponsored by Princeton's Center for Innovation in Engineering Education and Jumpstart. He was joined on the panel by fellow Jumpstart members Bill Martin, the co-founder of the Raging Bull online finance community, and Mario Casabona, who developed anti-jamming technology for GPS systems that was bought by Honeywell in 2004.
Engineering professor and serial entrepreneur Ed Zschau '61, who has taught the University's popular "High-Tech Entrepreneurship" course for 19 semesters, moderated the conversation. In his introduction, he emphasized that many things must be "right" - including the situation, the people, the plan, the community and the resources -- if a start-up business is to be a success.
Through comic anecdotes (Casabona initially intended to develop jamming technology for GPS, until he learned it was illegal - hence his subsequent anti-jam product) and tales of taken and missed opportunities, the panelists confirmed Zschau's point. But their varied approaches to vastly different markets demonstrated that there are many right ways to launch a winning business.
Despite their diverse backgrounds, the panelists' careers paths do share some parallels. All of them worked at large corporations before venturing out on their own - Kay at Squibb Corporation (now Bristol-Myers Squibb), Casabona at the Raytheon Company and Martin at Goldman Sachs - which gave them business experience and taught them what works and what doesn't. And, after selling their businesses, all became angel investors to provide capital to early-stage companies.
Angel investing is a new and growing method to finance start-ups, which, in contrast to the more firmly established venture capital funding, often takes a more flexible approach to setting targets for financial returns. The panelists cautioned that most -- but not all -- angel investors lose money.
"There are a million things that can go wrong" when investing in unproven ideas and products, Martin said. In an attempt to avoid many of these pitfalls, he advised would-be investors to stick to industries and markets that they know well when deciding which companies to fund.
When Zschau opened the discussion to the audience, the panelists were met by a barrage of questions from students, alumni and members of the local business community. The inquiries ranged from a request for the best book to read about entrepreneurship (there isn't one, the panelists concurred) to a query about the merits of pursuing venture capital funding versus "bootstrapping it."
While Kay, Casabona and Martin couldn't offer the audience members a sure-fire way to start a venture that captures the attention of angel investors and takes the economy by storm, they encouraged attendees to follow their dreams as early as possible. Though it may be easier to make the necessary sacrifices to start a company while relatively young, it's never too late to launch a great idea, Kay added.
May 7, 2007 by Bob Monsour
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Twelve entrepreneurial ideas competed for the attention of five judges in the first ever Startup Spotlight. The event, run by students, showcased student ideas from across the campus. After all was said and done, the judges awarded top honors to Rethos, a web-based business that fosters social entrepreneurship, and the brainchild of Alexander Salzman '07. Second and third place honors were awarded to EcoVolve, presented by Jason Aramburu '07, and Greekr, presented by Eric Keller GS, respectively.
The winner receives entry into the DFJ East Coast Venture Challenge, a business plan competition open to students at all the Ivy League schools, NYU, and Carnegie Mellon University. Teams will compete at Columbia Business School on Monday, May 21st for $250,000 in seed stage funding. Second and third place winners in the Startup Spotlight are eligible for selection as wild card entries into the event.
The event, inspired by the Innovation Forum held earlier in the year, was conceived, developed, and produced by Joseph Perla '09 just 23 days earlier, an entrepreneurial endeavor in itself. In his opening remarks at the event, Perla described part of his motivation. "When I first came up with the idea for the Startup Spotlight, I had asked a few people for their thoughts. Most of them said that there wasn't enough time. That made me even more determined to make it happen."
The format for the event was a series of 4-minute pitches, performed on a stage in McCormick 101. "Pitchers" were not allowed to use powerpoint slides, putting all the pressure on the presenter's ability to convince the judges of the feasibility of their idea.
(left to right) Tom Vander Schaaff (Edison Venture Fund), Bill Bridgers (Zon Capital Partners), Eric Keller GS (Greekr, 3rd place), John Parker (Rho Ventures), Jason Aramburu '07 (EcoVolve, 2nd place), Ken Kay (Jumpstart NJ Angel Network), Alexander Salzman '07 (Rethos, 1st place), Joe Falkenstein (NJTC Venture Fund). Photo by Steven M. Schultz
The panel of five judges, four venture capitalists and an angel investor, were impressed with the range and talent of the group. "For a group of mostly undergraduate students, I was quite impressed with the depth of their ideas and their ability to communicate them effectively to us", said Ken Kay, chair of the Jumpstart New Jersey Angel Network.
The complete list of participants and the names of their companies follows (in the order of presentation):
Apr 20, 2007 by Hilary Parker
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Great leaders envision the future and create what they see by making decisions for the long run rather than short-sighted choices, Amazon.com senior vice president Jeff Wilke '89 told a Princeton audience April 18.
Wilke, who holds a B.S.E. in chemical engineering from Princeton, illustrated the power of this forward-looking approach using examples from Amazon's wildly successful transformation from online bookstore to Internet retailer of just-about-everything. His talk, "Tough Choices: Leadership is All About the Long Run," was the fourth and final event in the "Leadership in a Technological World" lecture series, sponsored by the Center for Innovation in Engineering Education.
Focusing on the long run is not a conventional tactic in today's business environment, Wilke said. And so, the onus was on Amazon's leadership to convince investors of their strategy's strength. A 1997 letter to shareholders written by Amazon founder and CEO Jeff Bezos, who earned his B.S.E. in electrical engineering and computer science at Princeton in 1986, did just this -- and inspired Wilke to join the company.
"By the third paragraph, the letter literally gave me chills," Wilke said as he shared highlights from the memo.
"Because of our emphasis on the long term, we may make decisions and weigh tradeoffs differently than some companies," Bezos wrote. "Accordingly, we want to share with you our fundamental management and decision-making approach so that you, our shareholders, may confirm that it is consistent with your investment philosophy..."
Even this openness did not stop the barrage of news articles in the late 1990s that predicted the downfall of the company many pundits dubbed "Amazon.bomb," which Wilke presented in a multimedia collage that drew laughter from the audience. The focus on the long run led Amazon's leaders to make choices that were potentially risky short-term, but which have clearly paid off, Wilke said. These include decisions to include customer reviews of products on Amazon.com, invite other retailers to sell items on the website, and dramatically increase inventory selection.
Just as making decisions for the long run can herald success, a failure to do so can lead to disaster, Wilke said. Such a lack of foresight can be blamed, in part, for the current crisis in the nation's production and retention of talented scientists and engineers, he said. The decisions made by individual leaders and plant managers to move manufacturing operations to lower-wage countries overseas may have made sense at the time when taken alone, but together they have taken a dramatic toll on America's competitive edge, according to Wilke.
"The aggregate of these choices is a long run outcome that should make Americans very nervous," he said, calling for a commitment from current and future leaders in industry, government and academia to support education in mathematics, science and engineering. Wilke echoed sentiments shared by Xerox chairman and CEO Anne Mulcahy at Princeton April 5 (see story).
Mulcahy's talk was the third in the lecture series, which was supported by the William Pierson Field lectureship fund. The series, which will continue next year, also included addresses by former Lockheed Martin Co. Norman Augustine '57 *59 (see story) and David Crane '81, CEO and president of NRG Energy (see story).
Apr 9, 2007 by Hilary Parker
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When handling a present-day crisis, don't forget to invest in the future, Anne Mulcahy, the chairman and chief executive officer of Xerox Corp., told a packed house April 5 at Princeton.
In a lecture titled "Leadership Lessons Learned on the Firing Line," Mulcahy shared the insights she gained as she assumed the helm of Xerox in the midst of a corporate crisis, and the practices she used to lead the remarkable turnaround of the multibillion-dollar corporation.
Mulcahy's talk was the third event in the "Leadership in a Technological World" lecture series, sponsored by Princeton's Center for Innovation in Engineering Education.
"We prepare students to lead by providing exposure to real-life leaders -- leaders who understand technology, great leaders, experienced leaders, leaders with courage and integrity," said H. Vincent Poor, dean of Princeton's School of Engineering and Applied Science. "Anne Mulcahy is recognized as this type of great leader."
When she became the head of the company in May of 2000, Mulcahy said, Xerox faced precipitously declining revenues, falling profits and debt just under $19 billion. At the same time, the faltering corporation was plagued by flagging customer and employee satisfaction.
Mulcahy said she learned quickly to be bold in her decision-making but humble about asking for help, turning to Warren Buffett, one of the most successful investors of all time, for advice.
"Business is a lot simpler than most people make it look," he reassured her.
Armed with Buffett's support, but not his investment (Buffett told her he doesn't invest in technology companies), Mulcahy took a back-to-basics approach to the company's budget and businesses -- but she never stopped investing in the future.
In the past three years, the company has brought 100 new products and technologies to the market, and 70 percent of its revenue comes from products and technologies that were introduced in the past two years, Mulcahy said. The company has met or exceeded earning expectations in 17 out of the last 18 quarters.
"If there is a line between failure and success, it is certainly about the quality of your people and the innovation they bring to the market," Mulcahy said, drawing a parallel between Xerox's corporate crisis and the national shortage in the production of great engineers and scientists.
The growing technological prowess of other countries, especially China and India, can be viewed as good news for a competitive economy, according to Mulcahy. But the failure of the United States to nurture its own technological infrastructure will cause significant problems, she said, noting that federal funding for mathematics, science and engineering has declined by one-third since 1970.
Business, government and the educational system must collaborate to counter this trend, she said, in part by making the talent base more inclusive. Mulcahy praised Princeton for its focus on diversity, innovation and education, and said she looked forward to partnerships between Xerox and the University, where her son is currently enrolled as a sophomore.
The lecture series concludes April 18 with a talk by Jeff Wilke, a senior vice president with Amazon. The series is underwritten by the William Pierson Field lectureship fund.
Mar 13, 2007 by Teresa Riordan
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Princeton University's engineering school has named Greg Olsen, a pioneer in the sensors industry and in space travel, as its first "entrepreneur in residence."
The position gives students and faculty members access to advice and ideas from a highly successful business founder and adds momentum to the growing number of entrepreneurial activities at the school, said H. Vincent Poor, dean of the School of Engineering and Applied Science.
Olsen said that a company he co-founded, Sensors Unlimited, benefited greatly during its early days from collaborations with Princeton's researchers in material science. Christopher Dries, who received his Ph.D. from Princeton, went on to become the vice president of research and development at Sensors, which is located in Princeton.
"Sensors Unlimited got a lot of help from Princeton and there is a nice trade going on already between Princeton and entrepreneurship," Olsen said. "I just want to keep that going."
Sensors Unlimited developed optoelectronic devices such as sensitive near-infrared and shortwave-infrared cameras for NASA and other clients. Goodrich Corporation, a Fortune 500 aerospace and defense company, acquired Sensors in 2005 for $60 million in cash.
"Having Princeton interact with industry is a really great thing," said Olsen. "It's good for the companies; it's good for the students; it's good for the University. I'm looking forward to doing whatever I can to get research out of Princeton University and into the world."
Olsen's appointment is with Princeton's Center for Innovation in Engineering Education, in collaboration with the Princeton Institute for the Science and Technology of Materials (PRISM).
Olsen went into space with much fanfare in October 2005 as one of the world's first private citizens to become a self-funded astronaut. He traveled on a Russian Soyuz rocket for a 10-day visit to the International Space Station. Since then he has been devoting much of his time exhorting American students to pursue careers in science and engineering.
He admits that he himself was not always a stellar student. "Actually, in high school I was on the brink of juvenile delinquency," he said.
But in college he became serious about his studies -- graduating from Fairleigh Dickinson with two bachelor's degrees and going on to the University of Virginia for his doctorate in materials science.
Upon getting his Ph.D., Olsen became a research scientist, first at the University of Port Elizabeth, in South Africa, and then at RCA Laboratories (now Sarnoff), where he developed a photodetector made of the exotic metals indium-gallium-arsenide.
Although he lacked business experience, Olsen thought he could produce detectors faster and more cheaply than RCA could. So in 1984 he co-founded his first company, Epitaxx, which manufactured emitters and detectors for fiber optics.
"I just sort of morphed from being a bench research scientist into an entrepreneur," he said.
His new position at Princeton is itself entrepreneurial. "Since this is the first time we have had an entrepreneur in residence, Greg will be defining the position," said Poor. "He is such an agile and innovative thinker that we have great expectations."
Olsen said that he would be making himself available to University researchers and students to offer one-on-one advice. But, in general, he offered the following as his main principles of entrepreneurship:
Mar 5, 2007 by Teresa Riordan
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The second annual Innovation Forum at the School of Engineering and Applied Science Feb. 27 showcased emerging technology ranging from a novel laser eye surgery technique to a new way to improve security on the Internet.
Photo at right: Craig Arnold, who presented research on tunable low-cost adaptive optics, talks with John Ritter, director of the University's Office of Technology Licensing (right), and Sharad Malik, director of the Center for Innovation in Engineering Education (center). Photo by Frank Wojciechowski
Eleven University researchers each delivered a three-minute "pitch" to a near-capacity crowd of investors, students and community members. After the formal presentations, researchers discussed their innovations at a reception, where posters explaining the research were displayed.
"It's all about cross-pollination," said Bill Martin of JumpStart New Jersey, a local angel investor network that invested $4 million last year in early stage entrepreneurial endeavors. The Innovation Forum was co-sponsored by JumpStart, Princeton's School of Engineering and the University's Office of Technology Licensing.
"I have seen an enormous growth in these types of activities at the University," said John Ritter, director of the Office of Technology Licensing. Ritter said that every year his office receives from 85 to 100 disclosures of inventions from University researchers and executes from 15 to 25 licensing agreements.
Some of the presenters included:
Szymon Suckewer, professor of mechanical and aerospace engineering, who presented a new way to correct near-sightedness using an ultra-short pulse laser. Suckewer said that the technique was an improvement over Lasik surgery because it offers more precise, less-invasive cutting.
David Wood, assistant professor of chemical engineering, who presented research on effective screening systems for the discovery of compounds that bind to hormone receptors and thus may help identify treatments for diseases such as breast cancer or pinpoint environmental toxins.
Craig Arnold, assistant professor of mechanical and aerospace engineering, who discussed a new adaptive optic element. "It is simple, low-cost and has advantages over existing technologies in piezoelectrics," said Arnold.
Douglas Adamson, a researcher at the Princeton Institute for the Science and Technology of Materials (PRISM), who presented research supported by a grant from Hallibruton Energy Services on a new, more efficient way to create polymersomes - tiny polymer balloons that have a wide range of commercial uses, from drug delivery to cosmetics.
Sudhakar Govindavajhala, a postdoctoral researcher in the department of computer sciences who as part of MulVAL Technologies is applying automated logic analysis tools to identify vulnerabilities in computer networks. In 2006 MulVAL, established by Andrew Appel, professor of computer science, was one of nine University projects to receive a New Jersey Council of Science and Technology "gap funding" grant. "Our mission is to change network security from being reactive to being proactive," Govindavajhala said. "The point of MulVAL is to discover security holes before they become a problem."
The Innovation Forum is part of EntrepreneurshipWeek USA. For a full list of presenters, you can download the series of 1-page overviews (pdf).
Dec 20, 2006 by Bob Monsour
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This year, through the Norman D. Kurtz '58 Fund for Innovation in Engineering Education, the Center for Innovation in Engineering Education is pleased to offer funds to support "engineering students pursuing projects that offer exposure to engineering applications outside the classroom". Listed below are the students, the projects, and the project advisers for those projects awarded funding for this academic year.
Dec 6, 2006 by Hilary Parker
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The truth about carbon emissions in the United States is far more than inconvenient, it's terrifying, David Crane, the chief executive officer and president of NRG Energy, told a standing-room-only crowd Dec. 5 at Princeton.
"The time to debate the cause of global warming is over," said Crane, whose company owns power plants and is the nation's 10th largest producer of electricity. "The time to decide what to do about it is now."
This is particularly true, Crane said, because the U.S. is poised to decide in the next two years whether to increase dramatically the number of coal-fired power plants throughout the country. If erected, the plants would add the equivalent of the combined carbon emissions of France and Spain to the U.S. greenhouse gas output, already the largest in the world.
Crane's talk, "Global Warming, Not Al Gore's Movie: What are we doing about it? What are you going to do about it?" was the second event in the "Leadership in a Technological World" lecture series, sponsored by the Center for Innovation in Engineering Education.
"As the leader of an energy company, David is on the front lines of this issue from a social, political, economic, and technological perspective and we welcome the opportunity to learn," said Dean of Engineering H. Vincent Poor in his introduction.
A 1981 graduate of Princeton who also holds a degree from Harvard Law School, Crane served as the CEO of United Kingdom-based bulk power generation company International Power PLC before taking the reins at NRG.
The power-generating sector emits 37 percent of the greenhouse gases in the nation, according to Crane, who previously characterized his industry's traditional stance on global warming as "See no carbon, hear no carbon, speak no carbon." Calling himself a modern muckraker, he said power generation companies have a responsibility to deal with global warming as "a moral issue."
Regardless of whether other power executives agree with his stance - he noted his viewpoint hasn't earned him invitations to industry cocktail parties - Crane said everyone must face three engineering challenges. The first is to capture and sequester carbon emissions that are separated, pre-combustion, from coal. The second is to capture and mitigate the emissions from existing power plant flues. Third, and equally important, is to approve and build the next generation of nuclear plants.
Crane challenged Princeton students to address these issues and said they are uniquely positioned to do so given their educations and proximity to leading experts in the field of global warming. He praised the strength of the University's faculty roster, which includes such world authorities as mechanical and aerospace engineering professor Robert Socolow, who received a round of applause from the audience when Crane pointed him out in the first row.
After outlining NRG's plans to address the challenges ahead, including a goal to add enough capacity to one of the company's existing nuclear power plants to offset the carbon emissions equivalent of Bulgaria, Crane called on attendees to do much more than shrink their personal "carbon footprints," which is a person's total contribution to carbon emissions through energy consumption and other activities.
Despite the attention received by "An Inconvenient Truth," former Vice President Al Gore's film about global warming, Crane said the movie may not have gone far enough in pushing personal responsibility for solving the problem.
Just as John F. Kennedy and Martin Luther King Jr. offered visionary leadership for Project Apollo and the civil rights movement, Crane said the next generation of leaders must educate and inspire not only the nation, but the world, to unite in a quest to stem carbon emissions and global warming.
"It's time to proactively exercise your rights as an informed citizen," he said, challenging each member of the audience to do their part to change the world.
The lecture series continues April 5, 2007, with a talk by Anne Mulcahy, chairwoman and chief executive of the Xerox Corporation. The series is made possible by generous support from the William Pierson Field lectureship.
Oct 26, 2006 by Hilary Parker
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American entrepreneurs and venture capitalists should cast their eyes toward India, Princeton graduates Randolph Altschuler '93 and Sumir Chadha '93 said in a panel discussion Oct. 25.
Altschuler, co-founder of the outsourcing company Office Tiger, and Chadha, senior managing director of Sequoia Capital India, painted a picture of the Indian economic landscape that was optimistic, but tempered with the realism of hard experience.
"It's almost like every sector is booming," Chadha said, though he warned of pitfalls hidden in the "huge amount of economic optimism" that has taken India by storm.
The event, "Creating New Ventures in India: Experiences, Opportunities and Challenges," was part of a Technology Entrepreneurship Series co-sponsored by Princeton's Center for Innovation in Engineering Education and the Jumpstart New Jersey Angel Network. It was moderated by engineering professor Ed Zschau '61, who teaches the University's popular high-tech entrepreneurship course.
Former roommates at Princeton, and later classmates at Harvard Business School, Altschuler and Chadha shared similar thoughts on business in India, despite having taken different approaches to the market. Altschuler, who majored in German literature, co-founded Office Tiger in 2000 with classmates Joseph Sigelman and Ravi Srinivasan. Chadha, a computer science major, plunged into the country that same year as a venture capitalist.
The forward-thinkers were some of the first to realize the possibilities in outsourcing to India, but their successes did not always come easily.
"The infrastructure in India is still pretty poor," Altschuler said. "But you can build your own infrastructure much easier [now than six years ago]."
Both Office Tiger and Sequoia are battling high rates of turnover among employees, and dealing with the Indian government is a challenge, the panelists said. Furthermore, labor and real estate costs have skyrocketed in Bangalore, Delhi and Bombay, leading many companies to set up shop in smaller and less-developed cities.
These challenges notwithstanding, Altschuler and Chadha said that taking advantage of the business opportunities in India - from coffee shops to accounting services to software design - will help, rather than hurt, individual companies and the U.S. economy as a whole.
"I actually think it is going to make us much stronger," Chadha said. "It creates new markets and new opportunities as the Indian markets develop."
Improved telecommunications also are extending business opportunities to many other parts of the globe, including rural parts of the United States, said Altschuler.
The entrepreneurship series will continue early next year, date to be announced, with an Innovation Forum where Princeton scientists and engineers will present research with commercial potential to an audience of students, entrepreneurs and investors.
Oct 20, 2006 by Hilary Parker
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Great leaders help create other great leaders, Norman Augustine '57 *59 told a Princeton audience Oct. 19 as he did just that, sharing his insights on leadership to inaugurate the engineering school's "Leadership in a Technological World" lecture series.
Augustine, the former chairman and chief executive officer of Lockheed Martin Corp. with leadership experience in industry, academia, government and the non-profit world, earned his bachelors and masters degrees in aeronautical engineering from Princeton. Calling him a leader who embodies Princeton's informal motto, "in the nation's service and the service of all nations," Dean of Engineering H. Vincent Poor said Augustine was the perfect choice to kick-off the new series, which is sponsored by the Center for Innovation in Engineering Education.
"The main goal of the center is to educate leaders, both engineers and non-engineers, who can lead what is becoming increasingly a technological world," Poor said.
Using positive and negative examples to illustrate twelve necessary "ingredients" for true leadership, Augustine touched on everything from the Boston Celtics basketball team to a fatal decision that led to the 1986 Challenger space shuttle disaster. Attributes including integrity, vision, courage and selflessness come together in diverse combinations in leaders who have a positive impact on the world, he said.
"You don't necessarily know (great leadership) when you see it in advance, but you'll sure recognize it when you see it in action" he said, humorously pointing to a 1978 photograph of Microsoft Corp.'s founders, which included a boyish looking Bill Gates.
Humor may have peppered his talk, but Augustine was serious as he discussed the challenges, particularly ethical ones, faced by leaders in today's world. Honesty is always the best policy, he said, even when it has short-term negative repercussions. He told of a time at Lockheed when he received an anonymous envelope containing a competing company's upcoming bid for a major contract; he informed the competitor and refused to alter his own bid, which ultimately lost.
People always face difficult decisions with incomplete information and conflicting advice, he said. Whether they become great leaders depends on how they rely on their own skills, and the talents of others, to rise to the occasion.
"Often, the difference between victory and defeat is very small," Augustine said.
The lecture series continues at 5 p.m. on Dec. 5 with a talk by David Crane '81, president and chief executive officer of NRG Energy Inc.
Oct 15, 2006 by Teresa Riordan
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Sharad Malik, George Van Ness Lothrop Professor in Engineering , has been named director of Princeton's Center for Innovation in Engineering Education (CIEE).
The freshly minted center begins its second academic year with an ambitious agenda that includes two lecture series, an internship initiative, and innovative curriculum offerings for undergraduates and graduate students.
H. Vincent Poor, dean of the School of Engineering and Applied Science at Princeton, said that he had high expectations for the center under Malik's stewardship.
"Sharad is a stellar talent in his field of research, in the classroom, and as a leader," said Poor. "He embodies the very qualities that CIEE aspires to nurture in students."
Malik said that CIEE's primary role is to serve as an incubator for new ideas in engineering education. The center is pioneering new interdisciplinary approaches to teaching engineering as well as new approaches to the teaching of core technological concepts to non-technical majors.
"One of our goals is to help equip students -- whether they are engineers or non-engineers -¨C with the skills they will need to be technologically astute leaders of the future," said Malik. "We need to cultivate and grow the pathways between the Engineering School and the greater University. All students on campus should have access to the rich opportunities that the Engineering School offers and engineering students should be working shoulder-to-shoulder with their colleagues elsewhere on campus as they tackle real-world problems."
Malik's research expertise is the computer-aided design of electronic systems. He serves as associate director of the Gigascale Systems Research Center, a project jointly funded by DARPA and MARCO (an industry consortium) to address the long-term research challenges faced by the semiconductor industry. Malik has been honored three times with the Undergraduate Engineering Council's Excellence in Teaching Award.
Among CIEE's curriculum initiatives are:
The center also seeks to highlight popular existing courses, such as "High-Tech Entrepreneurship" class taught by Ed Zschau, visiting lecturer with the rank of professor, and "Entrepreneurial Engineering," taught by Dan Nosenchuck, professor of mechanical and aerospace engineering.
The center is sponsoring two lecture series this academic year. On Oct. 19, Norman Augustine, former chairman and chief executive officer of Lockheed Martin Corp., will deliver the inaugural talk in a new lecture series titled "Leadership in a Technological World." And in partnership with the Jumpstart New Jersey Angel Network, the center will host a lecture series on technology entrepreneurship. The first lecture, on Oct. 25, will be a panel discussion of entrepreneurial experiences and opportunities created by the emergence of India as a technology power.
Malik emphasizes that the center's mandate is to be experimental.
"Some initiatives will succeed and some will fail but we will always be trying new things," he said.
Oct 15, 2006 by Teresa Riordan
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Bob Monsour, a technology entrepreneur, former angel investor and philanthropist, is the new associate director for external affairs at the Center for Innovation in Engineering Education (CIEE).
Monsour's role at the center, which was established last year, is to expand relationships between academia and industry. In particular, he is spearheading two lecture series, an internship program and a blog.
"It's a wonderful opportunity to be a bridge between the people at Princeton who are doing intellectually stimulating research and the people in industry who know how to transform brilliant ideas into real-world technology," said Monsour.
One of Monsour's priorities is to expand and strengthen ties between employers and Princeton Engineering students through internships. In a survey that Monsour conducted in August, engineering undergraduates expressed enormous interest in internships and listed firms in areas ranging from aerospace to pharmaceuticals as their top choices of employers.
"Internships are a win-win proposition," said Monsour. "For students they are a no-risk way to explore real life. They offer employers the opportunity to see whether a talented undergraduate might make a good fit as a future hire."
Monsour also is helping to organize two lecture series. On Oct. 19, Norman Augustine, former chairman and chief executive officer of Lockheed Martin Corp., will deliver the inaugural talk in a new series titled "Leadership in a Technological World." And in partnership with the Jumpstart New Jersey Angel Network, CIEE will host a lecture series on technology entrepreneurship. The first lecture, on Oct. 25, will be a panel discussion of entrepreneurial experiences and opportunities created by the emergence of India as a technology power. The event, which includes a reception, will be free and open to the public.
Monsour himself knows a thing or two about the white-knuckle thrills of the entrepreneurial life. In 1983, he was one of the founders of Stac Electronics, which later developed a compression software product called Stacker that doubled disk capacity -- a revolutionary feat in the days of 20-megabyte disk drives.
While Stacker seemed an overnight sensation, in fact the company had struggled through typical startup tribulations during its early years.
"The PC boom was underway, and we knew we would have a role in it but we just didn't know what that role would be," Monsour recalled. "At first we were a company in search of a product and then we became a technology in search of a market."
Monsour and the other founders threw themselves and their assets into the company (in Monsour's case, he borrowed cash from his parents and maxed out three credit cards). He said he knew the tide had turned when Stacker won several major honors, including the coveted PC Magazine Technical Excellence award, catching the eye of Microsoft, which went on to develop its own compression product.
Soon, however, a David and Goliath patent battle developed between little Stac and big Microsoft. In the end David won and the jury ordered Microsoft to pay Stac $120 million.
In the years since he left Stac, Monsour has been an angel investor (he was one of the founding members of JumpStart New Jersey) and has been extensively involved in his son's school, Princeton Academy of the Sacred Heart, serving as vice chair of the board of trustees.
Monsour recently established a blog on the CIEE homepage that is already generating a buzz. Monsour posts excerpts of articles about entrepreneurship and innovative ways to teach engineering, offering up a dollop of commentary when appropriate.
Recent posts include snippets of articles about introverted CEOs, the trend toward interdisciplinary education in engineering education, and the role of optimism in entrepreneurship. This last post quotes Jeff Bezos, a Princeton Engineering graduate, as saying that "optimism is an essential quality for doing anything hard -- entrepreneurial endeavors or anything else."
Monsour started the blog to illuminate the dynamic nature of engineering and innovation. "It's fun, and I'm glad for the attention it's getting. But blogs work well only if they are kept alive with new content. I guess I am optimistic about my ability to keep it fresh."
To read Monsour's blog, learn more about the Princeton Engineering's internship program, or to find the schedule for the two lecture series, visit the CIEE web site.
Sep 19, 2006 by Teresa Riordan
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Norman Augustine, former chairman and chief executive officer of Lockheed Martin Corp., will deliver the inaugural talk in a new lecture series titled "Leadership in a Technological World." His lecture, "The Elements of Leadership," is scheduled for 4:30 p.m. Thursday, Oct. 19, in the Friend Center Auditorium.
Augustine started a distinguished career in the aerospace industry and government service after earning his bachelor's and master's degrees from Princeton in 1957 and 1959. He served in the Office of the Secretary of Defense in the 1960s and was undersecretary of the Army and acting secretary of the Army in the 1970s. He became chairman and chief executive of Martin Marietta Corp. in 1987 and became president of the newly formed Lockheed Martin in 1995, retiring two years later as chairman and chief executive. He also has served as chairman of the American Red Cross and the National Academy of Engineering, in addition to service on the boards of many other corporations and organizations.
Augustine received the National Medal of Technology in 1997 and the Public Welfare Medal in 2006. Most recently, he chaired a National Academies of Science panel on U.S. competitiveness, which produced a highly influential report, "Rising Above the Gathering Storm: Energizing and Employing American for a Brighter Economic Future."
The lecture series, sponsored by Princeton's Center for Innovation in Engineering Education, continues in December with a talk by David Crane, president and chief executive of NRG Energy Inc.
Made possible by generous support from the William Pierson Field lectureship
Sep 18, 2006 by Teresa Riordan
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Three entrepreneurs and a venture capitalist specializing in technology companies in India will speak on October 25 at a panel jointly sponsored by Princeton University's Center for Innovation in Engineering Education (CIEE) and the Jumpstart New Jersey Angel Network.
The panel, titled "Creating New Ventures in India: Experiences, Opportunities, and Challenges," will be moderated by venture capitalist and entrepreneur and professor, Ed Zschau, who has developed and teaches the highly successful course on high-tech entrepreneurship at Princeton.
The panelists are:
"We would like to get beyond the clichés about outsourcing and bring an understanding of what's really happening from entrepreneurs who are directly involved," said Bob Monsour, CIEE's associate director for external affairs. "The panel discussion will cover all facets of the entrepreneurial experience in India."
The panel discussion will be from 5:00 to 6:30 p.m. and will be followed by a reception. The event, which is free and open to the public, will take place in the auditorium of the Friend Center at the School of Engineering and Applied Science.
The panel is part of a Technology Entrepreneurship Series sponsored by Princeton's Center for Innovation in Engineering Education (CIEE) in collaboration with the Jumpstart New Jersey Angel Network. Other sponsors are Morgan Lewis Counselors at Law, Amper, Politziner & Mattia, the New Jersey Technology Council, the Princeton Entrepreneurs Network, the Princeton Entrepreneurship Club, the Bendheim Center for Finance, and Princeton University.
The next event in the series will be an Innovation Forum in early 2007 that will feature Princeton scientists and engineers discussing their early-stage entrepreneurial ventures.
May 24, 2006 by Teresa Riordan
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Mickey Drexler, chief executive officer of J. Crew, will give the keynote address at a daylong conference on entrepreneurship on Friday, June 2, at the Friend Center for Engineering Education on the Princeton campus.
The conference, organized by an alumni group, the Princeton Entrepreneurs' Network, will feature panels and workshops on running a business and raising capital. Special topics also will include legal issues, technology trends and not-for-profit management.
Notable panelists include John Quigley, founder of Nassau Capital; Jared Polis '96, founder of Blue Mountain Arts and Pro Flowers.com; and Diane deCordova '83, founder of Strategic Business Development Partners Inc. and former director of strategic alliances at Yahoo. H. Vincent Poor, dean of the School of Engineering and Applied Science, will deliver opening remarks.
The conference also features the conclusion of the Entrepreneurs' Network annual business plan contest. Six finalists will compete for a $10,000 prize to be awarded by a panel of successful venture capitalists and entrepreneurs for the best business plan.
The conference will run from 8 a.m. to 7:30 p.m. Drexler's address will begin at 10:15 a.m. Prior to joining J.Crew in 2003, Mr. Drexler spent eighteen years at Gap, Inc., where he was named president in 1987 and CEO in 1995. While there, Drexler and his team increased the company's annual sales from $400 million to $14 billion.
The conference is co-sponsored by the School of Engineering and Applied Science and the Bendheim Center for Finance. For more details and registration information, please visit www.princetonen.org.
May 2, 2006 by Teresa Riordan
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Longtime entrepreneur and teacher Ed Zschau and three other Princeton graduates will share their insights and expertise in raising venture capital at a forum from 5:30 to 6:30 p.m. Thursday, May 4, in the Friend Center auditorium.
Zschau, a 1961 alumnus and a visiting professor teaching the course "High-Technology Entrepreneurship" at Princeton, will be joined on the panel by Karen Drexler '81, co-founder of Amira Medical; Jim Furnivall '80, general partner of Canaan Partners; and Kef Kasdin '85, general partner at Battelle Ventures and at Innovation Valley Partners. The forum is titled "Funders and Founders: Perspectives on Raising Capital."
The discussion will be followed by a reception where students, faculty, entrepreneurs, venture capitalists and angel investors will meet informally to discuss ideas and exchange knowledge and advice. The lecture and reception are free and open to the public.
The panel is part of a lecture series sponsored sponsored by Princeton's Center for Innovation in Engineering Education (CIEE) in collaboration with the JumpStart New Jersey Angel Network.
CIEE is a new center within the School of Engineering and Applied Science at Princeton. Created in 2005, CIEE strives to set a new standard for engineering education by emphasizing interdisciplinary collaboration, societal context and leadership in addition to fundamental engineering principles.
UPDATE: For those unable to attend, view the video of the panel session (1 hour, 7 minutes, Requires RealPlayer, high-bandwidth).
Apr 13, 2006 by Teresa Riordan
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Fifteen Princeton scientists and engineers will talk about their early-stage entrepreneurial ventures at an Innovation Forum at 5:30 p.m. Thursday, April 20, in the Friend Center Convocation Room.
John Ritter, director of the Office of Technology Licensing, will open the forum with an overview of technology transfer at Princeton. Bill Martin of the JumpStart New Jersey Angel Network, a group of private venture capitalists, will moderate the event, which is open to the public.
Researchers will give short presentations describing ventures that spring from Princeton's science and engineering laboratories. Among the presenters:
* Jeffry Stock, professor of molecular biology and chemistry, will talk about coffee extracts that may one day alleviate Alzheimer's disease.
* Ivan Glesk, senior research scientist in electrical engineering, will discuss a compact holographic data storage system.
* William Happer, professor of physics, and his students will present their work on manufacturing miniature atomic clocks.
* Niraj Jha, professor of electrical engineering, will discuss research on nanotubes that may revolutionize an important type of microchip.
At a reception following the event, forum presenters will be on hand to answer questions about their ventures and display posters that graphically explain their work.
The forum is sponsored by the School of Engineering and Applied Sciences' Center for Innovation in Engineering Education, the JumpStart New Jersey Angel Network and the University's Office of Research and Project Administration.
UPDATE: A collection of one-page summaries of the technologies presented at the forum can be downloaded here (pdf, 532kb). And be sure to read this great follow-up story.
UPDATE 2: On May 1st, three of the technologies presented at the Innovation Forum received funding from the New Jersey Commission on Science & Technology, as administered through Princeton's Office of Technology Licensing. The three are:
Feb 14, 2006 by Hilary Parker, Staff Writer
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"Building a Pre-IPO Company in the Face of Recession, War and Google" - the talk Steve Papa offered on Thursday at the Princeton University Friend Center - could have well been titled "How to Turn a Princeton Beer Can Into the Fastest-Growing Information Access Software Company."
Mr. Papa, a 1994 graduate of Princeton University and founder and chief executive officer of Endeca, delivered his talk as part of a technology entrepreneurship lecture series that is co-sponsored by the Center for Innovation in Engineering Education at Princeton and the Jumpstart New Jersey Angel Network.
"This lecture series is important to our overall educational mission of preparing leaders who integrate a broad understanding of technology and how it can improve our lives," said Vincent Poor, director of CIEE. "Of course, we are delighted to co-sponsor this lecture series with Jumpstart NJ as we are eager to strengthen our ties to the regional business community and to foster entrepreneurial ventures."
Prior to Mr. Papa's talk, students and entrepreneurs networked in the Friend Center, swapping business cards and business tips. Attorneys and biotech marketing managers mingled with university faculty and students.
Ken Kay, chair of Jumpstart NJ, said he hopes collaborations between Jumpstart NJ and the university will ultimately provide the opportunity for entrepreneurs to leverage the creativity and innovation coming out of the university, which he said has historically been closed off from the business world.
Just as Endeca's mission "is to help people find, analyze and understand information in ways never before possible," Mr. Papa made his company's technology accessible but, more important, he shared Endeca's history and his own insights into successful entrepreneurship.
Weaving his tale from a combination of humorous anecdotes and photographs, historical timelines and business pointers, Mr. Papa's ability to make information understandable was evident. As he shared the fact that the need for new search technology first started when Endeca's co-founder was searching for a Princeton reunions beer can on eBay, he showed photographs of the firm's first few offices in sublet apartments and basements with bright orange acid waste pipes overhead. His humorous touch offered insight into his success without the historical revisionism he said is often found in lectures by successful entrepreneurs.
For all his high-tech accolades, though, Mr. Papa offered lessons that rang of plain old-fashioned business sense. "People, placed in the right role, make all of the difference," he said, emphasizing the importance of building relationships. In addition to having the right people, he emphasized the importance of trying to do things the right way, such as his company's decision to make its first customer - Fidelity Investments - a success before seeking a second customer. The plan obviously worked - Endeca is now close to crossing the 300-customer mark. Since 1999, Endeca has weathered many a storm that sent other technology companies under - the collapse of the Internet bubble, massive layoffs in the tech industry and the international uncertainty stemming from the wars in Afghanistan and Iraq. In 2004, the three largest retailers in America at the time - Home Depot, Wal-Mart and Kmart - all went live with Endeca technology, and in 2005, Esther Dyson PC Forum named the company "Best of Show."
So while he emphasizes the importance of sound business practices that stand the test of time, Mr. Papa is also the epitome of an innovative entrepreneur. "Do not abdicate to experience," he told the audience. If he had, Endeca would not have become the success it is today - the fastest-growing information access software company. "I had three years' experience and a lot of audacity in June of 1999," he said. "Ignorance, as well - it's easier to be audacious when you're ignorant of all the challenges."
Feb 9, 2006 by Teresa Riordan
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The way Steve Papa tells it, his company has survived just about everything but a plague of locusts.
Papa, B.S.E.'94, returned to campus in February to regale a near-capacity audience in the Friend Center auditorium with the trials and tribulations of building Endeca, his extraordinarily successful information technology search company.
Things started easily for the company in 1999 - perhaps too easily, according to Papa.
"It was the dot.com craze," said Papa. "We raised $1 million in three days." Soon the company had its first customer, Fidelty Investments.
But then came the dot.com crash, the 9/11 terrorist attacks, and an anthrax scare that landed Endeca on national news.
It would be 13 months before Endeca got its second customer. Slowly and steadily the company built up to the 300 customers it has today, most of them federal agencies or brand-name companies like Walmart and Home Depot.
In telling the history of Endeca, Papa offered a blueprint for others embarking on new business ventures. Among his suggestions:
Papa's talk was the second in a Technology Entrepreneurship Lecture Series jointly sponsored by Princeton's Center for Innovation in Engineering Education (CIEE) in collaboration with the Jumpstart New Jersey Angel Network. J. Christopher Dries *96, *99, vice president for research and development at Sensors Unlimited, gave the first lecture of the series last November, titled "Boom, Bust, and Bounce . . . Anecdotes of Life in a Small, High-Tech Business." On May 4, the third lecture in the series will feature a panel discussion between three Princeton alums. The panelists will be Karen Drexler '81, who co-founded and served as CEO of America Medical; Jim Furnivall '80, general partner of Canaan Partners; and Kef Kasdin '85, a general partner at Battelle Ventures.
Nov 21, 2005 by Teresa Riordan
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Princeton University's Center for Innovation in Engineering Education (CIEE) has partnered with Jumpstart New Jersey Angel Network to launch the Princeton-Jumpstart Lecture Series on Technology Entrepreneurship.
This lecture series will invite distinguished business leaders to speak to the Princeton University and local business communities in order to promote and nurture entrepreneurship and new venture creation. The lectures are tailored to an audience of new, potential, and seasoned entrepreneurs. Lectures will be followed by a reception where students, faculty, entrepreneurs, venture capitalists and angel investors will meet informally to discuss ideas and exchange knowledge and advice.
"This lecture series will strengthen connections between students, faculty, entrepreneurs and investors in the region," says Ken Kay, Chairman of Jumpstart. "I hope some potential entrepreneurs will be inspired to pursue their dreams."
For Princeton students, this lecture series offers a unique educational opportunity. "Learning how innovators use technology to make a difference in society is an important part of the engineering education at Princeton," says Maria Klawe, Dean of the School of Engineering and Applied Science.
The inaugural lecturer will be Dr. Christopher Dries, Vice President for Research & Development, Sensors Unlimited. Dr. Dries received his M.A. and Ph.D. degrees from Princeton. In 2002 he became a partner at Sensors Unlimited and was appointed Vice President for Research and Development. In this capacity, he is responsible for all research and development activity including contract and internal research and new product development. His lecture, "Boom, Bust, and Bounce ... Anecdotes of Life in a Small, High-tech Business" will take place on Tuesday, November 29 at 5:30 p.m. at the Friend Center Auditorium.
About the Center for Innovation in Engineering Education
The Center for Innovation in Engineering Education (CIEE) is a new academic center within the School of Engineering and Applied Science at Princeton. CIEE was created in February 2005 with the purpose of setting a new standard for engineering education, emphasizing interdisciplinary areas, societal context, and leadership.
The center is creating new courses and strengthening existing ones that go beyond purely technical subjects to provide students a broader understanding of the global economic, environmental and cultural forces that shape and are shaped by technology. At the same time, the center is improving students' technical education by exposing them to real engineering projects throughout their four years, through internships, entrepreneurial opportunities and multidisciplinary courses.
About Jumpstart New Jersey Angel Network
Jumpstart is a private, member-led angel group that invests in early-stage technology companies in the Mid-Atlantic region. As the leading angel group in New Jersey, Jumpstart members include many successful entrepreneurs, business executives and professional investors (including venture capitalists) in the region.
Jumpstart believes that wealth creation starts with a strong relationship between angel investors and entrepreneurs. All Jumpstart angels invest personally in a venture. Jumpstart angels do not pool funds to invest as a group. The result is a strong, personal bond between the angel and the entrepreneur.
Nov 17, 2005 by Steven Schultz
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Responding to a national need to rethink the teaching of engineering, Princeton has created the Center for Innovation in Engineering Education, an initiative to better prepare all students--both engineers and non-engineers--to be leaders in an increasingly complex, technology-driven society.
The center is creating new courses and strengthening existing ones that go beyond purely technical subjects to provide students a broader understanding of the global economic, environmental and cultural forces that shape and are shaped by technology. At the same time, the center is improving students' technical education by exposing them to real engineering projects throughout their four years, through internships, entrepreneurial opportunities and multidisciplinary courses.
"Our plan is to set a new standard for engineering education," said H. Vincent Poor, the director of the center and the George Van Ness Lothrop Professor in Engineering. "We want to inject more engineering into the liberal arts and inject more of the liberal arts into engineering."
"Engineering and applied science are going to play a key role in determining what happens to the world during the next 25 years," said Maria Klawe, dean of the School of Engineering and Applied Science. "The difference between technology that makes the world a better place and technology that creates additional problems will depend on our ability as a society to educate leaders who are well versed in both technical and nontechnical fields."
The creation of the center is one of the key initiatives to emerge from the engineering school's strategic plan, "Engineering for a Better World: The Princeton Vision," which it adopted in May 2004. Poor was appointed director of the center in February 2005, and its first curriculum innovations are starting this fall.
The center's initial projects are to:
In all these efforts, the center will seek to attract students from a wide variety of backgrounds and bring an international and interdisciplinary perspective to their education.
William Wulf, president of the National Academy of Engineering, said the center's agenda addresses important issues confronting the U.S. engineering profession, including the need to expose students to real engineering problems in all four years. "If there were one thing I would change in all engineering curricula, it would be exactly that--giving students more experience with the practice of engineering," Wulf said.
The center's plan to foster connections between engineers and non-engineers also is crucial, Wulf said. "As engineers, we create solutions to human problems. We do it within a set of constraints that are not just issues of size, weight and power consumption. If you ignore the human dimension, you are not going to get as good a solution."
New curriculum choices
The center's efforts began this fall with the introduction of a course called EMP, which combines engineering, math and physics. In conventional engineering programs, students spend their first year taking required foundational courses that provide little exposure to real engineering problems. The new Princeton course, which involves 10 faculty members from seven departments, addresses the fundamentals in tandem with hands-on projects that show students where their preparations are leading. Labs, for example, deal with problems of energy consumption, robotic sensing and digital image transmission.
"The idea here is to integrate the subjects so students see the connections," said Poor. "They can transfer something they learned in math to physics, and back and forth. Those ideas will then improve their engineering work, which, coming full circle, will motivate and deepen their understanding of math and physics."
The center is starting from a solid base in its effort to reach beyond students majoring in engineering. With nearly two-thirds of all Princeton students already taking at least one engineering class, a goal of 90 percent is ambitious but attainable once the school introduces more interdiscipinary courses, according to Poor.
"Everyone receiving a first-rate education--everyone who wants to make a positive difference--has to understand the technologies that are going to affect the future of the world, as well as the public policy and other societal choices that are to be made in concert with technological developments," he said.
The center also will broaden the education of engineering students by working with businesses to create summer internships, which will expose students to the real applications of their learning and allow them to bring new perspectives back to the classroom.
At the same time, some Princeton engineering classes will adopt more elements of the business world, with a particular focus on invention and entrepreneurship. The center will build on the success of courses such as "High-Tech Entrepreneurship" led by longtime entrepreneur and former Harvard Business School professor Ed Zschau. For example, Daniel Nosenchuck, a professor of mechanical and aerospace engineering, has created a course in which teams of engineering majors and humanities majors will work together to analyze markets and design products, which will be judged and possibly adopted by executives from major consumer products companies.
Taken together, the center's initiatives are intended to advance another major goal: increasing the diversity of engineering students. Among the many cultural barriers and stereotypes that have limited the diversity of the pool of people who chose careers in engineering, a persistent problem has simply been the way engineering is taught, said Klawe. "We lose students who have outstanding technical skills but are not willing to devote their entire educations to the study of technology for its own sake," she said. "These students want to use their skills to make a difference in the world. The Center for Innovation in Engineering Education will help them do that."
Feb 3, 2005 by Steven Schultz
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Entrepreneurs, from beginners to veterans, gathered on the Princeton campus Feb. 2 to network and trade stories in an event intended to promote entrepreneurship and forge closer ties between the local business community and the University.
For two hours Wednesday evening, Princeton's Friend Center for Engineering Education was buzzing with conversations as University students and faculty mixed with budding entrepreneurs and experienced business leaders from New Jersey. The event, called "Meet the Entrepreneurs" was sponsored by the School of Engineering and Applied Science and the Princeton Institute for the Science and Technology of Materials (PRISM).
"We want to be a hub -- nationally, but especially in the local area -- for people who are interested in technology and its impact on society to come together and learn from each other," said Maria Klawe, Princeton's dean of engineering.
"Princeton is lending its leadership to create an environment where entrepreneurs can come and get the advice they need to get their businesses off the ground," said Joseph Montemarano, director for industrial liaison at PRISM and an organizer of the event. "This sort of networking is common in Silicon Valley, and we would like it to be a fixture in New Jersey as well."
The event featured 14 successful entrepreneurs, from the creator of software for testing and troubleshooting integrated circuits to the founder of a company that delivers individualized lesson plans for K-12 education via the Internet. Several of the entrepreneurs had developed technology invented at Princeton.
Klawe said that ensuring vigorous interactions with business and industry is a key element of the engineering school's recently announced strategic plan, and that the school is committed to holding more such events. "We want to help people develop the skills and knowledge they need to take technology and innovation and transfer them into something of commercial and social value," Klawe said.
After an informal gathering over hors d'oeuvres, the more than 100 participants sat at tables while the successful entrepreneurs rotated between the groups and fielded questions. At one table, the founder of a local start-up company and several Princeton students fired questions at entrepreneur Ken Kay, who sold his successful software company to Microsoft and is chair of Jumpstart New Jersey Angel Network, a group of investors who fund early-stage companies.
Informal gathering
Kay advised the young entrepreneurs to focus on building long-term relationships with potential investors and partners rather than relying on make-or-break business plan presentations. "In the end, it's about people getting comfortable with each other," Kay said.
Phil Southard of Plainsboro, who founded a company called AgriData Systems, said the evening was far more productive than he imagined was possible. "The one-on-one time is terrific," he said "It's great that the University cares about the entrepreneurial community because entrepreneurs sometimes feel like the little guy, and it's nice to have the support."
Several undergraduate and graduate students said they were taking their first steps toward entrepreneurship. "I'm one of those people who always wanted to start my own business, said Peter Kwan, a graduate student in electrical engineering. "For me and many students, it's a mysterious process. How do you go from the bench in the back of a lab and move forward and lead a successful business? An event like this will help me figure out how to do that."
Darren Hammell, a 2001 Princeton graduate who helped found the company Princeton Power during his senior year, agreed that starting a business can be scary for students. "Now, looking back, it's not that it wasn't very hard work, but it's probably not harder than many things undergraduates do," he said. "I would like to convey to people that it is very possible."