What is Innovation Corps (I-Corps)?
Innovation Corps (I-Corps) is a program designed to foster
entrepreneurship by guiding researchers and academics through the process of translating their
innovations into viable commercial products. Developed by the National Science Foundation (NSF), I-Corps aims to bridge the gap between fundamental research and practical application. It provides training, mentorship, and funding to enable participants to assess the commercial viability of their technologies.
Customer Discovery: Identifying and understanding potential customers.
Value Proposition: Defining the unique value that the product or service offers.
Business Model Canvas: Mapping out the business model, including revenue streams and key partners.
Training and Education: Participants learn essential entrepreneurial skills and methodologies.
Mentorship: Access to experienced mentors who provide guidance and expertise.
Funding: Seed funding to support initial customer discovery and market research efforts.
Networking: Opportunities to connect with industry experts, investors, and other entrepreneurs.
Who Can Participate in I-Corps?
The I-Corps program is open to researchers and academic faculty who have received NSF funding for their projects. Additionally, graduate students and post-doctoral researchers can participate as part of a team. The program encourages diversity and inclusion, welcoming participants from various disciplines and backgrounds.
Commercialization: Transitioning research innovations into market-ready products.
Startup Formation: Establishing new ventures and
startups.
Funding Opportunities: Increased chances of securing additional funding from investors and grants.
Enhanced Skills: Improved entrepreneurial and business skills for researchers and academics.
Encouraging collaboration between academia and industry.
Promoting the commercialization of cutting-edge research and technologies.
Fostering a culture of innovation and entrepreneurship within academic institutions.
Driving economic growth through the creation of new businesses and jobs.
Conclusion
Innovation Corps (I-Corps) is a transformative program that equips researchers and academics with the skills and resources needed to bring their innovations to market. By focusing on customer discovery, market validation, and business model development, I-Corps helps bridge the gap between research and commercialization, fostering a vibrant entrepreneurial ecosystem.