Albert Szent-Gyorgi, who won the Nobel Prize in 1937 for discovering vitamin C, once said “Discovery consists in seeing what everyone else has seen and thinking what no one else has thought.”
When it comes to innovation, or its cousins invention and discovery, we tend to think of it as a process of discovering solutions. In fact, it is more often a process of discovering the right problems. Tom Kelley, of IDEO, talks so eloquently here about the value of finding the right problem in talking about how IDEO's designers were able to discover a new problem in what was essentially an old and mature market, kid's toothbrushes.
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Elevator pitches are a great way to share some of the ideas that have been brewing here at the Biomedical Engineering Entrepreneurship Academy.
One of the first and easiest ways to prototype a potential venture is the well-crafted elevator pitch. With this in hand, anyone can get great feedback from potential customers, mentors, advisors, investors. Sure, you can communicate alot more detail with more time, but that leaves less time to listen and learn. Below are the BMEA2011 elevator pitches—all based on research being conducted in university labs around the country:
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This morning our 2011 Biomedical Engineering Entrepreneurship Academy comes to close. 45 university research scientists from across the country, full professors to first year grad students, arrived on Monday morning with their research and the desire to see it become a reality. After an intensive week of work, they're pitching their proposed businesses for the first time and to a jury of potential investors.
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