A STEM Commercialization Plan is a written document that describes how a new and/or an existing STEM concept, prototype, process, idea or technology (or a combination of multiple STEM concepts, processes, ideas or technologies) may be applied, or further developed to provide a solution to a marketplace or societal problem, need or opportunity. A STEM Commercialization Plan essentially provides a written “science & technology proof of concept” to support an innovative product or service concept or idea. A STEM Commercialization Plan includes both a persuasive science and technology assessment and plan and a discussion of the concept’s likely commercial feasibility and viability.
A STEM Business Plan is a written document that describes how to apply a new or existing technology to create a new product or service or enhance an existing product or service with new features or capabilities that can be successfully developed into a real-world business opportunity and “taken to market.” Thus, a STEM Business Plan provides a written “business & financial proof of concept” to support an innovative product or service that may be taken to market. A quality STEM Business Plan will not only include plans for taking a product to market, but should also include the student’s assessment of the viability of the science and technology supporting the product or service idea.
Key Instructional Resources for Students
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- Video – Are You Ready for the Future? (5:43)
- Video 1 – Why students are asked to do a STEM Plan (2:39)
- Video 2 – What, specifically, students are asked to do to develop their STEM Plan (4:59)
- Video 3 – Working through Mileposts 1-3 (4:41)
- Video 4 – Working through Mileposts 1-8 (11:38)
- Video 5c – Working through Mileposts 9-12 (5:29) (For STEM Commercialization Plans)
- Video 5b – Working through Mileposts 9-12 (5:34) (For STEM Business Plans
Printable Instructional Materials
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- Ohio Roadmap to Future Jobs & Prosperity
- How to Navigate the Believe in Ohio STEM Plan Instructional Roadmap – Mileposts 1-8
- Student Step by Step Instructions for Determining the Commercial Feasibility of Your Plan & Developing the Plan Itself
- Student Instructions for Writing and Formatting Their STEM Plan
- Ohio Roadmap to Future Jobs & Prosperity – Mileposts 1-8 – Printable Student Worksheet
Printable Templates
- STEM Commercialization Plan MS Word Template
- STEM Business Plan MS Word Template
- Preparing a Three Year Financial Projection (will open as an Excel template)
Examples of past ‘highly rated’ STEM Plans for student review
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Judging Rubrics
Inspirational & Explanatory Resources for Students
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Additional “Roadmap” videos for students:
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- Milepost 0 – The Challenge of the Future
- Milepost 0 – Introduction to Entrepreneurship
- Milepost 0 – Think, Innovate, Change
- Milepost 1 – Finding Problems, Seeing Opportunities
- Milepost 2 – Proposing Solutions
- Milepost 3 – Using Technology to Execute a Solution
- Milepost 4 – Who Can Benefit From Your Solution?
- Milepost 5 – Who Are Your Competitors?
- Milepost 6 – What Value Do You Bring to the Market
- Milepost 7 – Will Your Idea Generate Revenue?
- Milepost 8 – What Will It Cost to Get Started?
- Milepost 8 – What Are the Operating Costs?
- Traffic Light – Does Your Idea Get a Green Light?