Innovation to Commercialization (I2C) Fellowship
2016 I2C SUMMER FELLOWSHIP
June 13- August 5, 2016
The Innovation to Commercialization (I2C) Fellowship is a student-centered and highly selective program being administered biennially by the Innovation and New Ventures Office (INVO) and sponsored by McCormick School of Engineering, Kellogg School of Management, Pritzker School of Law, Feinberg School of Medicine, and Weinberg College of Arts and Sciences. This opportunity offers graduate students (Master's, PhD, MBA, and JD candidates) first-hand experience in handling intellectual property as it pertains to academia. Whether a student is innovative and/or entrepreneurial, this fellowship is a practical way to be exposed to the entire commercialization process. Regardless of experience level, all students at the participating schools are encouraged to apply for one of the 9 paid fellow positions. The program runs for 8 weeks during the summer.
CLICK HERE FOR THE 2016 I2C APPLICATION
*Application Deadline is extended to May 1, 2016.*
I2C In the Press
I2C 2016 SUMMER FELLOWSHIP FAQs
What is INVO?
The Innovation and New Ventures Office moves Northwestern technologies to the marketplace in order to have real-world impact. This may be accomplished through partnerships with corporations or the creation of startups. INVO manages all aspects of Northwestern’s intellectual property, which includes technology assessment, marketing, license negotiations, and compliance management. INVO also advises Northwestern faculty on a commercialization path that is specific to their needs. In addition, when needed, INVO helps develop commercial plans for faculty research that ultimately might result in acquisition of early-stage capital or a successful license agreement. For more information, please visit our website at http://www.invo.northwestern.edu.
What is unique about the new I2C Summer Fellowship?
INVO has hosted a number of student interns in the past in an ad hoc manner. This new fellowship provides a mechanism to formalize the involvement of students and financially supports the students who are interested in learning more about innovation and commercialization. McCormick, Kellogg, Pritzker, Feinberg, and Weinberg are sponsoring their own summer fellows.
What kind of experience will each fellow receive? What are some potential projects?
The I2C fellows will have an opportunity to work on the commercialization of various Northwestern technologies. Projects vary from year to year. Some I2C fellows are interested in using the fellowship as a way to explore Northwestern technologies and potentially start a new venture, while others are interested in gaining exposure to the legal and business aspects of commercializing a university technology.
Experiences for each fellow varies. However, general project types include:
- Identify and screen new inventions disclosed by Northwestern inventors
- Perform preliminary market and valuation analysis
- Perform prior art research and test patentability for new technologies
- Provide recommendations for IP strategy
- Create preliminary marketing material to distribute to potential technology licensees
- POTENTIAL PROJECT: Assess a faculty-centered or area-specific portfolio of related inventions (e.g. medical devices, nanotechnology, electronics, materials, or therapeutics)
- Market Northwestern innovations externally
- Identify potential corporate partners for licensing
- Canvass corporate interest in specific technology sectors
- Provide marketing recommendations based upon technology sector
- POTENTIAL PROJECT: Develop marketing strategies for individual or portfolio-based inventions
- Develop business plans and identify managers and potential investors
- Prepare elevator pitches for founders
- Help expand investor and angel network for INVO
- Provide recommendations based upon market, financial, commercialization and risk factors
- POTENTIAL PROJECT: Assist existing Northwestern startup with some business aspect or help faculty think through the translation of their discoveries into the commercial space
What qualifications do I need to apply for the fellowship?
If you are a Northwestern graduate student from McCormick, Pritzker, Kellogg, Feinberg, or Weinberg, you are eligible to apply. We do not require any specific scientific, business, or legal expertise to apply, but some knowledge and/or experience is preferred. All fellows will go through a training program to fill in some of the knowledge gaps. If you are a PhD candidate, you MUST submit a letter of approval from your PI stating that he/she understands that you will not be in the lab for eight weeks over the summer and cannot receive a stipend from the PI's research grant even if research is conducted during weekends or nights.
How do I apply?
Complete the application here. Then, submit your CV and recommendation letter (optional, but recommended) to Sonia Kim (firstname.lastname@example.org). PhD candidates must submit a letter from their advisor stating that they understand the full-time commitment of the I2C program.
I2C Contacts by Schools
- Sunny Russell, Levy Institute for Entrepreneurial Practice email@example.com
- Ajit Tamhane, PhD, Senior Associate Dean for Planning & Graduate Studies, firstname.lastname@example.org
- David Diamond, Assistant Dean, Center for Career Strategy & Advancement, email@example.com
- Steve Anderson, Associate Director of Integrated Graduate Program, firstname.lastname@example.org
- Gretchen Talbot, Assistant Dean Research & Graduate Studies, email@example.com
When will the I2C fellows be selected?
INVO will interview and select the final fellows within a month of the submission date. Fellows will be expected to accept or reject the fellowship within one week of our offer. Kellogg, McCormick, Feinberg and Weinberg have each agreed to support 2 I2C Fellows. Pritzker will support 1 Fellow.
Can I work on more than one type of project?
Yes. All fellows will be expected to work on several projects over the summer and will have an opportunity to be exposed to multiple stages of innovation and commercialization.
Does the fellowship continue into the academic year?
At this point, I2C is a summer fellowship. However, if there is mutual interest from INVO and the fellow, the fellow may be allowed to continue working on projects during the school year. However, no stipend will be awarded. Instead, each school may offer the option of course credit for independent study.
What is the stipend?
Each fellow will be paid a stipend of $6k by their respective school.
What is the expected fellows’ schedule?
The fellows will be expected to work full-time (40 hours/week) unless other arrangements have been agreed upon by the School and INVO. They will have office space at INVO, which is located at 1800 Sherman Ave, Suite 504 in Evanston. Office hours are typically 9am – 5pm. The mentors of the fellows will vary according to the project and type of fellow. For most, they will be INVO staff. Some of the venture projects may involve working with startups off-site.
**Due to the nature of the PhD program at McCormick, Feinberg and Weinberg, PhD candidates must submit a letter from their advisor stating that he/she understands and approves of the full-time commitment of the fellowship.
What are some important dates for the fellowship?
The only set dates as of now are the start and end date of the fellowship. However, we intend to meet as a group in mid-May to discuss projects in greater detail. We will have training sessions during the first week to familiarize the fellows with INVO and its staff, useful databases and resources, and a high level introduction to the commercialization process as it pertains to academia. Throughout the summer, there will be lunch seminars given by entrepreneurs, VCs, or other professionals who are knowledgeable of the commercialization process.