Oct. 15, 2007 | 6:47 pm

Students get cash to make the Next Big Thing

A new center at Northwestern uses corporate grants to help students invent prototypes in class.

The Center for Entrepreneurship and Innovation, inspired by NU’s InNUvation, brings together NU’s medical, law, business and engineering students in classes that combine problem-solving with marketing. Although most are graduate students, some honors undergraduates are involved.

The center offers its first class, Medical Innovation, this fall. Director Michael Marasco says he hopes the center will get into nanotechnology and computer science too.

Student teams attack problems in areas such as neurosurgery to imagine effective products. Grants ranging from $10,000 to $15,000 will help teams develop their prototype.

“The funding is from companies who are interesting in promoting entrepreneurship,” Marasco said. “They’re excited about this idea.”

After building a prototype, students devise a business plan to market the product.

Marasco said the program lets students from different fields work with one another, but also will create something that might change current industries.

“The program will allow students to do more than just study a topic,” he said. “The program will allow students to do something revolutionary.”

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