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Michigan I-Corps@LTU launched to mentor students, innovators and entrepreneurs

Release Date: February 3, 2014

SOUTHFIELD, Mich. – Lawrence Technological University has launched a real-world, results-oriented mentoring program to help students, faculty, alumni, innovators, entrepreneurs and companies advance new product ideas and establish new business opportunities.

Michigan I-Corps@LTU, established with funds from the Coleman Foundation and the Kern Family Foundation, is part of a statewide program designed to foster and grow an innovation ecosystem throughout Michigan, and provides participants knowledge about what it takes to successfully commercialize their ideas and focus on meeting customer needs.

The first nine-week session kicks off on Saturday, Feb. 8. Each innovation team will
• Be matched with an industry mentor.
• Develop a greater understanding of its product and how it can benefit customers.
• Find customers and markets.
• Discover what it takes to commercialize a product and the barriers to adoption.
• Save years and money by developing a structured business model
• Expand its network.
• Be eligible for a $1,000 cash prize for the best team.

“I was impressed with the process, which allowed me to thoroughly examine the core elements of my business model, with specific emphasis on the value proposition, customer requirements and market segments,” said Gordon Maniere, an I-Corps participant who has worked with LTU faculty and students to refine his technology and business model.

“If you’re ready to really advance your innovation, to truly understand who will buy your product and what kind of business you can build, then this is the program for you,” said Paul Garko, team leader for the Michigan I-Corps@LTU Program. “We are offering a nine-week program on Saturdays so that busy students and working professionals can advance their ideas and innovations.”

For more information, see www.ltu.edu/i-corps or contact i-corps@ltu.edu.

Lawrence Technological University, www.ltu.edu, is a private university founded in 1932 that offers more than 100 programs through the doctoral level in its Colleges of Architecture and Design, Arts and Sciences, Engineering, and Management. PayScale lists Lawrence Tech among the nation’s top 7 percent of universities for return on undergraduate tuition investment, and highest in the Detroit metropolitan area.  Lawrence Tech is also listed in the top tier of Midwestern universities by U.S. News and World Report and the Princeton Review. Students benefit from small class sizes and experienced faculty who provide a real-world, hands-on, “theory and practice” education with an emphasis on leadership. Activities on Lawrence Tech’s 102-acre campus include over 60 student clubs and organizations and a growing roster of NAIA varsity sports.