Engineering and business professionals seem to live in separate worlds. These two groups speak different languages and approach problems from different perspectives.
Engineers do not typically receive training on the vital aspects of launching a product. Additionally, the management of cash flow and product marketing are not generally in engineering curricula.
The US Small Business Association (SBA) states that 30% of new businesses fail in the first two years and over 50% do not survive the first five years. Of those that survive, only 30% are profitable. According to data from SCORE, an organization that gives small businesses free advice and consultation, some of the top reasons why small businesses die or fail to thrive is poor management skills, lack of a business plan, and lack of experience and knowledge. Making and selling products or services often requires the right kind of person with the right tools to turn concepts into a viable business.
The Texas Tech Certificate in Technology Entrepreneurship (CTE) aims to give you the right tools. The purpose of the CTE program is to help you develop a cross-disciplinary perspective of technology using both engineering and business skills. You will have the chance to prepare for the interactions that will inevitably be part of your future work environment. The program offers classes that will give you the basic vocabulary needed to work with business professionals. You can then put yourself to the test as you study and work beside business students to find opportunities and create solutions.
You must be a sophomore or junior and have at least a 2.75 GPA to participate in this program.
To find out more about the specifics of this program, check out the course requirements below, take a look at the Rawls College of Business CTE page, download the program’s brochure, or see your advisor.
Prerequisite: Minimum 2.75 GPA. Concepts and terminology of accounting and financial reporting for modern business enterprises and the relationships between accounting information and business activities. Additionally, the course activities and processes, suppliers and customers, organizational subunits, and time periods ad these relate to organizations in changing environments. May not be used to satisfy business major degree requirements. (For engineering students only).
Generates and refines entrepreneurial process, opportunity discovery, and entrepreneurial thinking skills; develops the knowledge base for entrepreneurial idea assessment and problem-solving skills required for application to the recognition of viable opportunities.
Focus on engineered goods and services. Entrepreneurial and intrapreneurial thinking. Business models, planning, funding for new technical products, services, and ventures. Intellectual property, ethics. Team-oriented project. Required for Technical Entrepreneurship Certificate.