The Texas Master of Science in Technology Commercialization
The University of Texas at Austin McCombs School of Business
THE MSTC MISSION The Master of Science in Technology Commercialization Degree Program addresses an old problem: How to create a culture of innovation which continually produces disruptive products from emerging technologies and gets them to market first. Corporations with cultures of innovation gain competitive advantage and create wealth for their shareholders. Companies like Apple and Google have achieved this status; consumers prefer their products, college graduates seek employment with them, and investors favor their shares. Corporations send “fast track” employees to the MSTC Program with the following goals in mind: • Assess the economic viability and market potential of new technologies using our proprietary “Quicklook™” methodology. • Create new products from emerging technologies. • Recognize opportunities to acquire companies with disruptive technologies. • Develop paradigm-shifting products from emerging technologies and gain “first mover” advantage in global markets.
PERSPECTIVES AND SKILL SETS DEVELOPED BY THE MSTC PROGRAM Whereas the MBA is a general management degree with a broad offering of courses, the ten courses of the MSTC Program are highly integrated and strategically focused on product development from idea to market. During the MSTC Program students evaluate recently developed technologies, write and present business plans to fund them, and develop operational plans to launch them in new products. Students have the opportunity to assess technologies developed at The University of Texas at Austin or by their employers. A number of the technologies developed in the Program have resulted in subsequent commercial ventures for the corporations sponsoring their employees. During the Program students develop a mindset that emphasizes market validation, entrepreneurial behavior and contributing in high performance teams. MSTC graduates know how to: • Determine the market opportunity for a new technology, including market size and target markets. • Write and present a business plan for new technology based products. • Determine the financial resources needed to launch a venture based on a new technology.
MSTC PROGRAM OVERVIEW
• Converse with attorneys on the intellectual property needed to protect a new technology.
Designed for working professionals, the MSTC is a one-year program. Students have the option to attend class in person in Austin or online. Courses are held on Friday evenings, Saturday mornings and afternoons on alternating weekends so that corporate employees do not miss time away from their jobs. Utilizing state of the art technology, online students see and hear the MSTC class and are seen and heard by the professor and in-class students. In addition, classes are recorded so students can review the concepts presented or watch missed sessions. Each of the three semesters begins with a “launch” week. The third semester launch week is an international trip; most students use vacation time to attend these.
• Provide a detailed plan for the launch of a new product. • Write a complete plan for the commercialization of a new technology. • Develop strategies for commercializing disruptive innovations. • Develop persuasive business plans for obtaining funding approval for new technology based products. • Understand the issues related to introducing new products across multiple business units.
Host MSTC Information Sessions for your Employees
CAREER PATHS Typically, MSTC students from the corporate sector choose the MSTC because they want to continue to be involved in technology and new product development. Many come from engineering backgrounds, and they like hands on involvement with products. For them, developing a disruptive product from an emerging technology and managing its launch into the market represents a major win. As a result of the skill-set that is acquired throughout the course of the MSTC Program, MSTC graduates operate in both the technology commercialization space and related areas that rely on this skill-set. Job titles of previous graduates are listed in four major categories below. Technology Commercialization
Corporate Strategy and Business Development
Mergers and Acquisitions
Director of Technology
VP for New Business Development
Director of Product Development
Chief Innovation Officer
Head of Strategic Business Development
Director of Mergers and Acquisitions
Director of Product Management
Business Development Manager
Director of Product Innovations
Manager of Technology Scouting
Market Development Manager
Product Line Manager
Head of Technology Commercialization
Chief Acquisition Strategist
Product Marketing Manager
Chief Visionary Officer
New Product Development Manager
Chief Licensing Officer
Director of Technology Incubator
Many employees in their late twenties are likely considering returning to school to earn a master’s degree. The MSTC Program is specifically designed so that employees can continue to work full time and earn the MSTC. The MSTC Program would welcome the opportunity to hold an information session at your facility and discuss the MSTC Program with interested employees.
Customize the MSTC Program for Your Needs The MSTC Program encourages corporations to send teams of 4-5 employees to the Texas MSTC Program so that their employees can work on their technologies. Employees would assess the market potential of their company’s technologies, prepare business plans for the best ones and design an operational plan for launching the chosen technologies. This is the highest value add proposition the MSTC Program has to offer: Companies not only get a trained cadre of technology professionals but also plans for launching technologies into the market place. Employee retention is increased as well. Dr. Gary M. Cadenhead, Director of the MSTC Program, is available to discuss this option.
Create an Innovation & Technology Commercialization Program for Your Company The goal of the Innovation & Technology Commercialization Program is to build a cadre of innovation leaders capable of rapidly identifying new technologies with market potential and taking them to market in innovative products. Technology commercialization has become increasingly important as a source of both wealth creation and competitive advantage. This unique certificate program is offered through the Texas Executive Education Program at McCombs.
BUILD A RELATIONSHIP WITH MSTC
Company Technology Analysis
The McCombs School invites you to build a relationship with the MSTC Program. Four options for doing so are described below, and they are not mutually exclusive. In addition, each has a high return on investment. The MSTC Program welcomes your participation.
MSTC students work on actual technologies and become skilled in determining if they have market potential. We invite you to submit your technologies as potential candidates for this tremendous learning opportunity. Students get to work on exciting technologies, and you get objective assessments of the market potential of some of your technologies.
Hire Student Interns Both to gain experience and to supplement income, many MSTC students would welcome the opportunity to serve as interns and work 20 to 30 hours per week. They represent an excellent value opportunity as they are carefully selected, very bright, and affordable. Visit McCombs Career Services for more information. http://www.mccombs.utexas.edu/career.aspx For more information on how your company can build a relationship with the Texas MSTC Program, please email the MSTC Marketing Coordinator, Vanessa Manley. firstname.lastname@example.org
MSTC PROFILE MSTC students are typically more experienced than MBA students, including those in EMBA programs. While the MSTC Program continues to favor students with experience in commercialization, a few very bright students with little or no work experience are DEMOGRAPHICS
admitted. MSTC students work in teams on many assignments, and we have found that teams containing experienced professionals benefit from younger team members with other skills and perspectives.
CLASS OF 2011
CLASS OF 2012
Cohort Class Size
CLASS OF 2013
% With Advanced Degrees
% In Class
Average Years of Work Experience
INTERNATIONAL REPRESENTATION Students from around the world seek to be admitted to The University of Texas at Austin. Technology commercialization is important to many countries, and few universities offer a similar degree. As a result, the MSTC Program evaluates applicants from many countries.
The recent classes include students from the following countries: Bulgaria, Canada, Chile, China, Colombia, El Salvador, Greece, India, Iran, Korea, Malaysia, Mexico, Taiwan, Uganda, Vietnam, China, Columbia, Ecuador, India, Korea, Mexico, Russia, Spain, Taiwan and Vietnam.
Assessing Technologies for Commercial Viability
Commercialization Strategies & Venture Planning
Creating Executable Plans for New Ventures
Converting Technology to Wealth
The Art & Science of Market Driven Entrepreneurship
Technology Enterprise Design & Implementation
Marketing Technological Innovations
Technology Transfer in the Global Economy
Financing New Ventures
Managing Product Development & Production
Creative & Innovative Management Managing Technology & Business Risks
OVERVIEW OF MSTC CURRICULUM Combining academic rigor and real-world practical experience, the MSTC faculty is uniquely qualified to teach in the program. All the professors are at the leading edge of their discipline, actively involved in new business and product development as trainers or consultants and passionate, engaging teachers. The course content is robust and
sharp and empowers the students to become intrapreneurs within their organizations or to launch their own ventures. The integrated ten-course curriculum focuses on developing products from new technologies and taking them to market.
The Texas MSTC reserves the right to change any information presented in this publication without notice. Specific degree requirements, policies, tuition, fees, curricula, etc. should be discussed with appropriate advisors prior to acceptance and/or registration. Applicants are encouraged to contact the Texas MSTC office for current admissions and program information. As a matter of policy, The University of Texas at Austin does not discriminate among applicants or participants on the basis of race, religion, sex, national origin or disability. ÂŠ2012 The University of Texas at Austin. All rights reserved.