A $20 million joint venture between campaign donors and the University to supercharge student innovation has attracted more than 1,700 participants in its inaugural year. And not just engineering and business majors but entrepreneurial minds from all 17 schools and colleges as well as the alumni community.
Not surprisingly, projects so far have run the gamut, from a portable medical ventilator and electric boat motor to a crowdfunding platform for tuition and a mentoring program for young women of color. Positive social impact is a signature component.
Untethered to a single school or college, Innovate@BU seeks to instill in students a keen understanding of business innovation, cultural engagement, and social entrepreneurship so that, no matter their field of study, they graduate knowing what it takes to convert an idea into something concrete.
A central part of the vision was integration with new and existing innovation programs such as BU Spark! at the Rafik B. Hariri Institute for Computing and Computational Science & Engineering, the start-up clinics at the School of Law, the Engineering Product Innovation Center, and the BU Arts Initiative. Competitions were created to motivate student creativity, along with meaningful programming ranging from skill-building workshops to a summer accelerator. Modest grants were offered to worthy projects.
The Nerve Center
Anchoring Innovate@BU is a spacious new student innovation center. Located in the heart of the Charles River Campus, it’s known as the BUild Lab IDG Capital Student Innovation Center in recognition of generous support supplied by IDG Capital, led by alumnus and Trustee Hugo Shong (COM’87). It’s a multipurpose space where student innovators can form partnerships, research, find mentors, network, hold meetings, practice pitches, learn how to manage risk and failure, and ultimately push their project across the finish line.
The upcoming agenda for Innovate@BU includes a more formal mentoring program, a University-wide minor in innovation and entrepreneurship, further alumni outreach, additional challenges and hackathons to inspire student ideas, and increased engagement with the innovation community in Greater Boston.
“Innovation happens when we transcend disciplines and silos,” says Executive Director of Innovate@BU Gerald Fine. “We want to encourage collaboration across campus and in the community.”