Entrepreneurs in residence
The students from Centre for entrepreneurship (SFE) have impressed both Inven2 and the inventors of the technology they have been working with. That's the conclusion when the first group of participants in the ”Entrepreneur-In-Residence”-program have acchieved their Master's degree.
From the left: Christian Müller, Cristhian Arturo Hidalgo and Pål Bjering Torgersen. (Photo: SFE)
Cristhian Arturo Hidalgo, Pål Bjering Torgersen and Christian Müller was among the first Master students from Centre for Entrepreneurship (SFE) to participate in the ”Entrepreneur-In-Residence”-program, which was started in cooperation with Inven2 in the fall 2011.
The three students had studied technology at universities in Germany, Mexico and Norway before they started their Master in innovasjon og entreprenørskap at SFE. In their last year, they chose the six month's internship at Inven2 in stead of the ordinary three month long internship. Having accieved their Master's degree, the new Master candidates are very satisfied with the program they have been a part of.
- We have gained valuable experience learning and doing market analysis and business strategy as well as through the interaction with expert business developers, people in the industry and the inventors of the technology during the commercialization efforts, says Cristhian Hidalgo.
Real life inpredictability
The entrepreneur students have worked with a technology developed at Department of Informatics called CacheCast; a system made to optimize data transferrence in large networks.
- The CacheCast technology turned out to not bee quite ready for commercialization, so our internship has turned out a bit different than first planned. We worked more like business developers than management team, but the inpredictability of working with a real life project has given us unike experience of a kind you don't normally get in your studies, says Christian Müller.
- In my opinion, partnering ut with the industry will be usefull for both students, SFE and Inven2. Practical experience will always be an important supplement to theoretical learning and should be incorporated in as many courses and studies as possible, whether it is through internships or by working with case studies from real companies. It has also been a good opportunity for us to become familiar with the innovation environment in Inven2, says Paul Torgersen Bjering
Hidalgo, Torgersen and Müller have had Kristin Sande Reid at Inven2 as mentor during the internship, and she thinks they have done a very good job.
- They have taken leadership and have had all the business contact in this project in the Entrepreneur-In-Residence period. They have developed the business plan, conducted several investor meetings in addition to having a dialogue on cooperation or licensing of the technology with the largest market players in the field. They have had a steep learning curve, and their efforts have impressed both Inven2 and the inventor, says Sande Reid.
Hidalgo, Torgersen and Muller have collaborated on writing a thesis on TTOs in Norway (Technology Transfer Offices), and the experience from working with CacheCast makes an important part of the discussion in the thesis. At present they are waiting on feedback from industry about whether CacheCast is a system they would like to try out.
CacheCast requires a partnership with one of the big firms in the field of design and production of network equipment to pay off. If the industry shows interest, it is up to Inven2 and potential investors to decide if they want if they want Hidalgo, Torgersen and Müller to keep working on the project.
The three Master's candidates are also involved in other projects. For example, Torgersen and Müller works with the development of Music Impro App, a music application for the disabled we have previously featured on the SFE website.