The impact of the National Science Foundation’s Innovation Corps (I-Corps) on academic innovation and entrepreneurship

Abstract

Abstract In 2011, the U.S. National Science Foundation created the Innovation Corps (I-Corps) program in an effort to explore ways to translate the results of the academic research the agency has funded into new products, processes, devices, or services and move them to the marketplace. The agency established a 3-tier structure to support the implementation of the I-Corps concept. Selected I-Corps teams consisting of the principal investigator, an entrepreneurial lead, and an industry mentor participate in a 7-week accelerated version of the Lean Launchpad methodology that was first developed by Steve Blank at Stanford University. Participating teams engage in talking to potential customers, partners, and competitors and address the challenges and the uncertainty of creating successful ventures. I-Corps sites were set up to promote selected aspects of innovation and entrepreneurship ecosystems at the grantee institutions. I-Corps Regional Nodes were charged with recruiting I-Corps teams in a larger geographical area as well as stimulating a new culture of academic entrepreneurship in the institutions in their area of influence. This Topical Review describes the experiences and the impact of the New York City Regional Innovation Node, which is led by the City University of New York, in partnership with New York University and Columbia University. Graphic abstract