07-27-2024
It's common for products and processes to be modified continuously to solve problems, improve quality of life or enhance efficiency and sustainability. Some are changed to disrupt markets and move up the value chain.
Some products and processes improve through incidental changes, which rarely require a structured approach to commercialization. The product is already on the market. In contrast, innovation is more than just modifying processes. It’s creating something new; it's structural. It’s about transforming an idea into a marketable product that can change lives.
“A lot of times in our office, we'll say, is that incremental, evolutionary, or revolutionary?" says Brooke Beier, Senior Vice President of Purdue Innovates. Beier helps entrepreneurs on the journey to transform groundbreaking ideas into market-ready products. In short, her office supports technology commercialization.
Tech commercialization involves navigating various stages such as patenting, startup incubation and strategic market development. This process ensures that innovations don't just remain in the lab but become tangible products that drive economic growth and solve real-world problems.
With over 650 patents filed and more than 300 startups launched, Purdue is a powerhouse of innovation and entrepreneurial success. Purdue Innovates, the engine behind this success, provides the crucial early-stage support, resources and expertise needed to commercialize innovations.
For a deeper dive into how Purdue facilitates this journey, watch the webinar "From Concept to Commercialization: Bringing Innovations to Market with Purdue." below. The session features Beier and Dr. Mohammad Rahman, Inaugural Chair in Management at Purdue’s Daniels School of Business. They answer the question what does commercialization mean? They highlight commercialization steps, Purdue Innovates’ support and the MBT program's role in training tech leaders
The Master of Business and Technology (MBT) program at Purdue equips professionals to integrate technology and business through hands-on curriculum, capstone projects and industry collaborations. With 4 key areas, including technology commercialization, the program offers various electives to customize the coursework.
Recognizing the need to bridge the gap between theory and practice, Purdue Innovates and the MBT program have formed a partnership to provide the next generation of innovators and entrepreneurs with training, networking opportunities and industry connections. Dr. Rahman captures the essence of the ideal MBT student: “MBT is targeted toward training students who are going to be leading and disrupting different industries with new products, new startups or perhaps reinventing the existing companies like a new startup.”
If you are passionate about innovation, the MBT program at Purdue could be the perfect fit for you. Gain the skills needed to turn your ideas into impactful innovations. It’s like having your own personal Shark Tank experience, with experts guiding you through every step. Discover how Purdue University is driving innovation and making a difference in the world.
Learn more about the industry, including growth, job roles and skills.
If you would like to receive more information about pursuing a business master’s at the Mitch Daniels School of Business, please fill out the form and a program specialist will be in touch!
