Manufacturing Readiness: Lifting the veil for entrepreneurs

Manufacturing is a cornerstone of societal prosperity; entrepreneurial endeavors can be the nexus of manufacturing innovation and new manufactured products. Entrepreneurs frequently underestimate the capital and timing requirements of setting up Manufacturing and Supply Chain operations. Moreover, MR is overlooked in entrepreneurial programs. MR speaks the language of investors; understanding an innovation’s readiness can generate investments needed to mature ideas. In many cases, nascent ventures must align their focus with that of prime contractors and market segment leaders in order to gain needed funds. A common language describing MR makes communication among innovation participants possible. Entrepreneurs need the means to select and/or partner with manufacturers — 84% of Kickstarter’s top projects shipped late in large part due to low MR. This paper will address educational gaps and outline legacy and modern tools for MR strategies and currently used teaching approaches for entrepreneurs, including those in life sciences.

Sharon Ballard, EnableVentures
Juha Saukkonen, Jyvaskyla Universtiy of Applied Sciences
Radu Costin Diaconescu, SWIE
Jeff Skiba, Medical Devices Services
Jussi Nukari, Jyvaskyla Universtiy of Applied Sciences
Dan Suhr, Independent Platform, LLC

Track: Topics in I&E