Entrepreneurship and Innovation Group offers a broad range of entrepreneurship-related activities across the university, the metro area and the state.
The group serves as a central point of entry for the ASU community to explore entrepreneurship and innovation and learn about the wide range of entrepreneurship-related classes, programs and resources available throughout the university and within the state’s entrepreneurial ecosystem.
EIG also helps entrepreneurs launch their for-profit, nonprofit and more-than-profit ventures through programs such as the Edson Student Entrepreneur Initiative and the Arizona Furnace Technology Transfer Accelerator, which provide funding, incubation space and mentorship to high-potential startups.
In addition, EIG helps grow ASU’s entrepreneurial ecosystem by providing opportunities for students, faculty and staff with an interest in entrepreneurship to come together and share ideas and resources. The group also works to build Arizona’s entrepreneurial ecosystem with community-wide initiatives such as the Alexandria Co-working Network, a statewide network of collaboration spaces in public libraries.
Faculty can be matched with experienced entrepreneurs and seasoned business executives based on their specific needs and required time commitments. Approximately 100 mentors are currently participating in EIG’s mentor programs.
SBIR/STTR Grant Support
The Small Business Innovation Research (SBIR) program and Small Business Technology Transfer (STTR) program provide funding for early-stage technology ventures that are still too high-risk to attract funding from private investors. Both programs are coordinated by the U.S. Small Business Administration and offer applicants a three-phase development cycle:
- Phase I – Awards of up to $100,000 for approximately six months support exploration of the technical merit or feasibility of an idea or technology.
- Phase II – Awards of up to $750,000, for as many as two years. During this time, R&D work is performed and the developer evaluates commercialization potential. Only Phase I award winners can apply.
- Phase III – Period during which Phase II innovation moves from the laboratory into the marketplace. No SBIR funds support this phase. The small business must find private or non-SBIR federal agency funding.
EIG supports faculty SBIR/STTR applications by providing research, writing and submission support, along with making critical connections to large corporate partners.