(36g) Economic Development Through Entrepreneurship and Technology Innovation: Bringing Together Industry, Academia, and Government

The School of Engineering and Computing Sciences (SoECS) of New York Institute of Technology (NYIT) is launching a new Entrepreneurship and Technology Innovation Center (ETIC).  The ETIC will consolidate and expand the School’s ongoing industry-academic partnerships, foster innovation and promote collaborations between industry, the academic community, professional organizations, and government.  The Center will support the NY region’s economic development by focusing on three critical areas Health Analytics & Bioengineering, IT & Cybersecurity, and Energy and Green technologies. This paper will discuss a case study of a green economic development initiative that involves chemical engineers: the creation of a microgrid pilot installation that utilizes various storage technologies. Process economics and financing via a public private partnership and seed government funding will be presented.  The goal is to infuse the engineering curriculum with real-world problems, and to show how project-based learning, teamwork, and a collaborative environment and direct contact with practitioners, instill in students the key competency and entrepreneurship skills required in today’s rapidly evolving, globalized economy.