An MBA capstone that's out of this world: Commercializing NASA patents

Abstract

Capstone classes can help MBA programs achieve student learning goals and meet accreditation standards. However, such programs often fail to build the skills they are intended to develop. Technology transfer projects can be an effective way to build these skills while creating a positive economic impact. This article describes Crummer Graduate School of Business at Rollins College's MBA program's integrative capstone experience that partners with NASA to allow student teams to commercialize unused or underutilized NASA patents to develop new products and create business startups using a 4Ps model. First, students examine Patents for intellectual property that could be transferred to new applications with commercial potential. Next, they develop a knowledge network of Partners who could assist them to commercialize the technology. Then, students identify Prospects for the proposed commercial use of the technology. Finally, they Package a newly developed, market-ready product with strategy, financial, sales and marketing plans, and pitch these to angel investors who might fund the startup and assist them in starting the business. This article details the 20 steps in the 4Ps model and discusses student outcomes, as well as the business focus of the 29 teams that have completed the course since 2012. Benefits, challenges, and advice for delivering the 4Ps model are discussed.