Stemler Participates in CTNext’s Entrepreneurship Retreat
Steve Stemler, associate professor of psychology, participated in the High Value Talents and Innovators’ Entrepreneurship Retreat Oct. 26-27 on campus. The new industry-academic initiative, supported by the CTNext Higher Education Entrepreneurship and Innovation Fund works to increase entrepreneurial education and output among the state’s top researchers. The event was sponsored by Wesleyan’s Patricelli Center for Social Entrepreneurship.
Stemler joined faculty and researchers from the University of Connecticut, Unilever, Quinnipiac University, and The Jackson Laboratory at the retreat. Stemler attended the retreat to learn how his research on testing could have potential real-world applications. He also had many students come up with projects in his Psychological Measurement course that could result in important commercial ventures.
Activities included a combination of instructor talks, attendee presentations, active interactions between participants, and a customer discovery, where participants explored potential product-market fit and a wider business model. Faculty received targeted training modules to help attract and retain high-value researchers and were encouraged to engage in Connecticut’s growing innovation and entrepreneurship ecosystem. The goal of the initiative is to increase the number of successful ventures coming out of universities in the state; launch new products and/or business lines with corporate partners; attract investment and partnership deals for these startups and products; and improve the entrepreneurial ecosystems at these institutions to better attract and retain researchers.
“One thing I took away from the retreat is that as researchers we often get very excited about our own technological/research innovations and assume that people will immediately understand how it fills a need they have,” Stemler said. “I learned that in business ventures, you have to start by really understanding the needs of the people you think will be your potential customers. To do that, it is critically important to interview and really listen to a whole lot of people whom you think will be most interested in your innovation. What I found is that when we engage in that process, we often find that people we thought would find our innovation appealing actually have very different needs. But we can also walk away with more refined ideas for how to apply our innovation, practically communicate about it in a way that resonates with their needs, and which segments of the market will find our innovations useful and which will not.” (Photos by Preksha Sreewastav ’21)
For more information visit the CTNext Higher Education Initiative website.