Why UT Dallas and the Institute for Innovation and Entrepreneurship (IIE)?

  • A key part of the UT Dallas vision and strategy of being an innovative university is to:
    • Offer community engagement especially with industry
    • Enable job creation through innovation and intrapreneurship
    • Help spawn new businesses within companies and also new startups

What Can the IIE Intrapreneurship Initiative Offer to Established Companies?

IIE can:

  • Perform innovation audits and analyses
  • Provide solutions to gaps between ideas and performance
  • Consult with companies on best-practice solutions
  • Consult with companies regarding employee education in processes for innovation and intrapreneurship
  • Facilitate innovative partnerships to access UT Dallas intellectual property (IP)
  • Leverage UT Dallas technologies, ideas, and IP from all UT Dallas schools, departments, centers and institutes
  • Introduce you to students with the entrepreneurial spirit for hire or internships

What is Corporate Entrepreneurship or Intrapreneurship?

Intrapreneurship is:

  • Entrepreneurial behavior inside established companies which typically occurs in mid-size and large corporations
  • Creating structured processes for entrepreneurial behavior within an established company
  • Recognizing and acting on the ongoing need for new processes, structures and changes in culture

Why Do Companies Need Intrapreneurship?

  • Intrapreneurship is critical to profitable growth.
  • Intrapreneurship creates a pipeline of new ideas
  • Intrapreneurship establishes a culture of innovation
  • “A large organization that becomes complacent and loses sight of the benefits of having an entrepreneurial streak built into their massive global systems can find themselves disrupted in short order.— David Armano, executive VP, Global Innovation and Integration at Edelman

What is Innovation?

There are two major categories of innovation:

  • Disruptive Innovation
    • Discontinuous (or disruptive) innovations are radical because they make a deep impact on society at large, and can change lifestyles and buying patterns, generating huge returns for the company.
    • These kinds of innovations can be dangerous and exciting — they can make or break companies.
    • The key to winning is knowing what is coming next and being positioned to cash in on the change!
  • Continuous Innovation
    • A minor change in an established product or service is called a continuous innovation — there is nothing radical about it. The reason for the innovation is to:
      • Address customer critiques of the established product
      • Make the established product “better” than competing products
      • Create a new variation on the theme so that the core product has even wider appeal.