Science, Entrepreneurship, and Innovation Corps in Mexico City
I remember not long ago when I-Corps was simply a startup within the National Science Foundation (NSF) designed to help academic teams of scientists and engineers commercialize their research and become startups themselves.
In the space of three short years the I-Corps program has grown to help over 100 academic teams launch new companies.
Yesterday, some of the founders and leaders of the NSF I-Corps program gathered with Mexican officials to discuss how the I-Corps program could stimulate innovation and drive economic growth for Mexico. The room was tightly packed with leading academics and entrepreneurs from the Mexico-U.S. Entrepreneurship and Innovation Council, the U.S. State Department, CONACYT, FUMEC, INADEM, as well as the U.S. Ambassador for Mexico and the Secretary of Economy.
Since the launch of I-Corps the world has witnessed what happens when you put cutting-edge science, engineering breakthroughs, and some of the best investors and company builders in a pressure cooker for seven weeks. Companies are getting built, financed, and even aquired, which is why I am not surprised that the Mexican State department is jumping on board and funding an I-Corps pilot program, scheduled to start January 2015.
The mission of the I-Corps program is to help solve an age-old problem: how can you turn basic research into a commercially viable business? Errol Arkilic, Founder of the I-Corps program, M34 Capital, and independent board director for Neon highlighted this point by teasing apart the difference between scientific discovery and innovation:
“Innovation is about creating new value for customers, and should not to be confused with the novelty of cool science.” -Errol Arkilic
I-Corps relies on the lean startup methodology developed by leading entrepreneur and investor in Neon, Steve Blank. The program uses classic hypothesis testing (familiar to scientists) to build knowledge that can inform bridging the so called “valley of death.” Most importantly the approach ensures that when teams reach the other side there are customers waiting that actually want to buy the products they have developed.
As we sat 7,000 feet above sea level in Mexico’s capital the conversation was passionate, honest, and insightful. While I-Corps has proven to be successful in the United States, there is no guarantee that this success will be replicated in Mexico. There are known challenges around adopting a program that demands that teams accept failure, abandon academic hierarchy and tradition, and devote time away from their typical university commitments.
The lean approach, the business-model canvas, and the Minimal Viable Product all introduce structure into the curriculum, designed to minimize the chance that promising technologies fail as businesses. But there are no silver bullets. There is still blood, sweat, and tears required from the program builders and advocates and courage and commitment from academic teams.
Having survived the I-Corps program I know that you cannot succeed alone. You need advisors, partners, and friends, people who have trodden the path ahead of you. Yesterday it was humbling to see that this is even true for countries. I am proud to see I-Corps reach international scale and I am excited to witness this new collaboration unfold.
Buena Suerte Mexico!
