Objectives and Strategic Plan
Between April 1 and September 30, 2020, the ETIC continued to focus and make progress on several organizational and ETIC-identified strengths. The center's four focused objectives are:
- The strengthening of the ETIC's mechanical, software, and electronic prototyping capabilities in order to better assist entrepreneurs and start-ups to visualize and materialize their technology ideas so they can demonstrate those ideas to investors.
- The creation and advancement of high-impact and experiential student engagement and training programs that raise the business and technical abilities of New York Tech students and entrepreneurs at the ETIC.
- The ability to assist New York State companies at the ETIC with their product or service ideas, business plans, marketing plans, and their technology-based innovations.
- To help and assist ETIC companies to raise early-stage capital from affiliated investment groups through the evolution of ideas and the creation of early phase technology prototypes.
Strategic Plan, 2020–2021
The proposed strategic plan for the ETIC for the next activity period (October 1, 2020 through March 31, 2021) is to:
- Continue to contribute to the economic development of Long Island and the wider New York metropolitan region and to foster and fund through the NYSTAR funding, the success of newly established programs at the ETIC including the iNTEREST Program, the E.R.R.S.E.L.A. Student Engagement program, the Student Entrepreneurship Program, the Technology Internship Preparation Program (TIPP), the Technology Skills Workshop Program, the Technology Design Challenge Series, the Technology Hackathon Series, and the ETIC E-Cycle Program.
- Operate the above programs simultaneously each semester and provide the ETIC with a vehicle and business model to recruit and engage entrepreneurial minded students, student entrepreneurs, and students with existing New York State businesses.
- Create original online educational training video material for our students, entrepreneurs, and industry partners and affiliates in order to increase technological knowledge and skill sets for those mentioned and to expand the reach of our ETIC programs throughout the region and state.
- Foster new ideas and innovation and to provide entrepreneurs with new and recycled prototyping materials.
- Challenge students and entrepreneurs through design competitions to solve global problems using engineering methodologies.
- Work with industry experts to prototype and commercialize those ideas, and to work with ETIC business consultants to help ETIC entrepreneurs from New York State start-up companies through their efforts.
- Attract government and other investor support through the SBIR program and new strategic partners and angel investment groups currently involved with the ETIC companies and student entrepreneurs.
- Spawn innovation in science, technology, and engineering by engaging startups and established companies with students and faculty.
- Boost workforce development by giving startups access to a skilled employment base of New York Tech students through the ETIC TIPP program.
- Support startup group training and individual consulting sessions using technology, legal, tax, insurance, business, marketing, communications, and accounting experts.
- Supply startups and the wider industry community with state of the art technologies and laboratories, equipment, prototyping and other supplies and services.
- Promote, advertise, and market ETIC resources to the wider community to attract the next great innovations.
- Lead the ETIC to serve as a model incubator in entrepreneurship and venture business practices.