One of the goals of AIME is to provide economic development for the state of Alabama through the commercialization of intellectual property (research) developed at state universities. Such efforts may aid existing Alabama companies and create new Alabama-based startup companies. The Emerging Technology Partnership (ETP):
- Is the first formal activity within AIME to commercial its intellectual property;
- Utilizes a combined team of marketing, health care, strategy, and IS faculty;
- Involves graduate students from 2 marketing classes, 1 business strategy class, and independent study graduate students from healthcare and MIS;
- Projects include evaluation of market potential for new products, competitive analysis of ETP itself, and the creation of consistent, repeatable and effective business processes leading to the creation of new businesses; and
- Is sponsored through a $120,000 ADECA/EpSCoT Grant.
ETP Projects
Folia Project
A team of students conducted market research to identify potential product markets, business partners, and market valuation. The results of this research were included as an integral portion of a research grant proposal submitted by the chief scientist, which was then funded by venture capitalists.
Cytologics Project
A team of students performed a competitive industry analysis. As this is a foundation technology, the team assessed potential product markets based on future demographic trends related to an aging population and disease profiles. The team also identified various business capitalization alternatives, identifying potential strategic business partners/competitors, and licensing agreements.
Limited Flow Drinking Cup Project
Student project teams are working with ETP to bring this new product to market. The teams are working to determine the most appropriate market for initial product entry, determining a competitive pricing strategy and efficient distribution channels. Teams have conducted focus groups with health care personnel to determine factors associated with product selection for acute care, rehab, long-term care, and home healthcare facilities.