Did you know we have an online event about corporate innovation coming up? Join the Transform track at TNW2020 to explore how big companies stay relevant with new tech trends emerging every day.

Today’s college students – dubbed Generation Z – are beginning to make their mark on the workplace with a distinctly unconventional and often irreverent approach to problem-solving. In my day-to-day interactions with our students, I find that this group doesn’t only ask “Why?” they ask “How can I fix that?” And their curiosity, independence, energy, and assertiveness are transforming the entrepreneurial space.

These post-millennials are less like the bumbling geeks from the cast of the HBO comedy “Silicon Valley” and more in the spirit of a focused problem-solver like a young MacGyver, who would rather invent and innovate as a means to learning and discovery.

What’s energizing to a university president like me is watching this transformation take place as more and more undergraduates are partnering with public institutions and fueling the next wave of ingenuity.

Entrepreneurship 101

A 2011 survey by Gallup found 77% of students in grades 5 through 12 said they want to be their own boss and 45% planned to start their own business. Today, many of those students are now in college.

For example, when I first met Hunter Swisher as an undergraduate plant pathology student at Penn State, he was busy turning scientific turfgrass research that he learned about in class into a commercial product and startup company.

Swisher saw commercial potential in his professor’s research and worked closely with him to transfer that knowledge into a possible viable product. Swisher connected with the university’s startup incubator and vast alumni network, put in the work, and became a CEO of his own small business before he walked across the stage at commencement in 2016. Today, his company Phospholutions has five employees and counting and their treatment is being used on more than 50 golf courses in 10 states.

Swisher is not alone in pursuing his entrepreneurial dreams while still in college. He is just one of many entrepreneurs starting their own companies by leveraging resources at their colleges and universities.

Penn State, Indiana University , University of North Carolina , Georgia Tech , University of Michigan , Ohio State , and other leading public institutions all have thriving entrepreneurial centers that are available to all students, as well as community members and businesses. Penn State alone has opened 21 entrepreneurial spaces across Pennsylvania , and in just two years, we’ve engaged with more than 4,500 students.

Moving scientific discoveries into a breakthrough business opportunity is powering economic growth and creating jobs. Consider that nationally – in 2017 alone – the Association of University Technology Managers reported:

$68.2 billion in research expenditures

1,080 startups formed

24,998 invention disclosures

15,335 new U.S. patent applications filed

7,849 licenses and options executed

755 new products created

Undergraduate students at public universities are fueling this trend

Traditionally, higher education has focused their investment on faculty entrepreneurs, hoping to find a breakthrough like the next Gatorade (University of Florida) or Lyrica (Northwestern University). Since universities don’t own the rights to undergraduate intellectual property, there has been less incentive to support these efforts.

Until now.

While we universities are taking a risk on students without a guaranteed immediate return on investment, we think the potential outcomes – for example in alumni support and building our local economies – are worth it.

With their minds set on this entrepreneurial future, a common narrative has emerged that students are skipping college to start their own businesses. In reality, 8 in 10 students believe college is important to achieving their career goals. 63% of those same students – all between the ages of 16 and 19 – said they want to learn about entrepreneurship in college, including how to start a business.

Land-grant and public institutions are contributing to the practical education that can contribute to economic growth and development. Indeed, generally speaking, talent-driven innovation was identified as the most important factor by the Deloitte-U.S. Council on Competitiveness .

Through skills training and engaged entrepreneurial experiences, students are realizing the profound impact they can have by solving a problem as well as overcoming obstacles, failures and flops – all under the umbrella of university guidance and resource support.

Innovation is inspiring and a wise investment

Research and education have always opened doors that benefit the nation we serve. Today, public colleges and universities are well-positioned to transform our economy and infuse it with innovation and energy. As chair of the Association of Public & Land-grant Universities (APLU) newly formed Commission on Economic and Community Engagement (CECE) , I’m working with universities and our government partners to identify key areas crucial to maximizing the impact of public research universities.

By the end of this year, tens of millions of Generation Zers will enter the workforce. The challenge for higher education will be how to help the world of business to better harness the many talents, energy, and inquisitiveness that Generation Zers bring to the table. The many partnerships that universities have formed with entrepreneurial students serve as an important first step toward this goal.

Editor’s note: this piece has been updated to reflect accurately Phospholutions’ current commercial agreements.

This article is republished from The Conversation by Eric J. Barron , President, Pennsylvania State University under a Creative Commons license. Read the original article .

The biggest tech trends of 2021, according to 3 founders

2020 was a year of rapid adaptation. Companies quickly, at times haphazardly, pivoted as fast as possible to new digital solutions that would keep supply chains functioning, employees and teams connected, and products accessible to customers.

In most cases, companies found that this quick switch accelerated their rate of new tech adoption and experimentation. Plans on the backburner to ‘eventually’ see how blockchain, IoT, or AI could be leveraged were suddenly added to the list of starters.

2021 will be a year of refinement. Companies are now wiser about what works and what doesn’t, and will yet again be experimenting with how they can use newly adopted tech to refine processes and innovate in ways not thought of before.

Techleal’s Rise Program is focused on providing fast-growing Dutch scaleups with the tools they need to take on the global market. We spoke with three of their cohorts to find out what new trends they see on the horizon this year.

Using tech to enhance digital relationships with customers

Online supermarket app, Crisp , started out on a mission to bring fresh products directly from producers to their users’ doors. Not only would ingredients be fresh, their bet was that the convenience and time-saving benefits that online shopping could bring would attract families who wanted to spend less time at the supermarket and more time with their loved ones.

Of course, when social distancing concerns became a major factor in consumer behaviors, Crisp was already ahead of the game. As CFO Michiel Roodenburg explained to TNW,

This enhanced capability has allowed them to not only make the shopping experience faster and more convenient; it’s also helped them go beyond simply meeting customer expectations.

“Using data in a smart manner allows us to combine convenience with inspiration,” Roodenburg said. “Users want to buy their usual products as quickly as possible and we can help them by suggesting these. In addition, we offer a layer of inspiration with an offering that is new but equally relevant.

“For example, in our recipe section, our offering is automatically adjusted to make it more relevant. We’ve seen that this also increases the average order value, positively impacting the logistical cost ratio, which is very important in the online food business.”

This has also helped them streamline different aspects of the customer experience.

“Tech enables our service team to effectively communicate with consumers. For example, by automatically categorizing questions or suggesting useful answers that the employee uses to send a richer answer.”

For companies that want to experiment with new strategies this year, Roodenburg suggests:

Easing the transition to the new normal with AI

Just like our shopping habits have changed, so have our work habits. While the quick switch to remote working was a struggle for many in the beginning, with over a year of Zoom meetings under our belts, some have now gotten used to the comforts of a home office, skipping the morning commute, and having extra time to spend with families.

The question is when the time does come for everyone to go back to the office, will we actually want to go back to the normal nine to five?

As Judith Huisman, co-Founder of Meetingselect, said, “Nothing can ever completely replace face-to-face meetings,” especially when it comes to team building, brainstorming, or branding activities.

Companies will therefore need to find the balance between in-person and more flexible work options. But this can also bring new opportunities for those willing to adopt new tech.

Meetingselect is at the crossroad between businesses and the hospitality industry, making it easier for organizations and enterprises to provide external meeting spaces, group bookings, and workplace solutions to their employees while helping hotels and venues attract more customers to their meeting spaces.

As Huisman explained, this requires a more strategic use of meeting data and AI-powered automation.

Looking to the future, when we can begin traveling again for work, Meetingselect is now working on a new feature that will help companies calculate “The Best Place to Meet” in terms of Total Travel Time, Total Travel Cost, and CO2/carbon footprint reduction, and ease the process of flexible workspace and co-working space bookings.

Digitizing workplace knowledge and learning

One of the biggest challenges manufacturers have faced over this past year has been the breakdown and fragmentation of communication lines. With warehouses and other facilities working at limited capacity due to social distancing measures, supervision and guidance for workers has been limited. As Willemijn Schneyder, CEO of SwipeGuide explained, this experience revealed a serious gap:

Not only is this a communication issue, it’s a safety issue. With the technology manufacturers are working with constantly evolving, workers need to be kept up to date with new operational procedures, safety measures, and potential hazards. Ironically, the learning process used to teach workers how to operate high-tech machinery is still low tech, with PDF-based instructions being the norm.

Much like a CMS, Swipeguide’s platform allows users to create, drag and drop, edit, publish, update, and share instructions with their workforce in real-time. This also allows companies to capture data on these instructions including usage, scoring, and feedback from workers. Best of all, it’s available on or offline and can be easily adjusted to different language and device preferences by users ⁠ — meaning workers can easily access instructions wherever they are.

Schneyder believes this transition to digital workplace learning is just the beginning.

Ready to step up your game, but don’t know where to start?

As Schneyder told TNW, “We would tell any company to look at their product and ask themselves: ‘how does our solution help connect people to the resources they need and make them more effective in a world dominated by remote work and new technology?’

“Once you’ve answered this, you can begin to position your product within any digital transformation at scale. We believe that when you focus on empowering the human elements first, the sky’s the limit.”

This post is brought to you by Techleal

How to choose a startup accelerator — no matter what’s happening in the world

Accelerators form an integral part of many entrepreneurs ’ journeys. By definition, an accelerator is a fixed-term program that usually lasts anything from three to 12 months. These programs offer a series of benefits, including education , mentoring, and networking . Some may offer investment to startups and on occasion, accelerators will take equity in the companies they accelerate.

With more than 7,000 of these programs spread out across the globe, entrepreneurs truly are spoilt for choice. But faced with this insane amount of possibilities, how are you supposed to choose the right one? It’s easy, focus on yourself. Hear what other startups have gained, how they’ve made the most of accelerators, and then choose the right program based on your current needs.

There are plenty of success stories that prove the extent to which accelerator programs can benefit a business . For example, the sharing economy giant Airbnb is arguably one of the most high-profile companies to have gone through a startup accelerator.

If you’re now at the stage of your business journey when you’re thinking about possibly joining an accelerator, it’s important to research the market and find a program that suits your business needs — just because a program has had success stories doesn’t automatically mean it’s the right fit for you.

No entrepreneur should enter into an accelerator program lightly; you need to really think about what will be expected of you as a participant and be clear on what you will personally get out of the program .

You also need to — given the current circumstances and business upheaval brought about by COVID-19 — consider whether it’s worth entering into a commitment of this magnitude during a global pandemic .

Before digging in

Now, it doesn’t take a genius to figure out that the best way to know what startups need and could get from accelerators is to speak to actual founders whose startups have gone through an accelerator. Luckily for me, TNW is a founding partner of the DMS accelerator program, and this meant I had easy access to a host of alumni who were able to share their experiences and insights.

Before we move on to this, though, it’s probably a good idea to share some context about the program and to help you get a better understanding of the journeys of the startups I spoke to.

Basically , Data Market Services is an equity-free program that aims to overcome growth obstacles facing startups operating within a fragmented European data market — helping founders with pain-points such as privacy law, intellectual property, and investment opportunities. It’s also worth pointing out that it’s funded by the European Commission.

As part of the program , 50 startups receive free entrepreneurial training , acceleration, and mentoring for six months. Before the pandemic, 60% of the program took place online, with the remaining 40% spent attending startup events across Europe. Now it’s 100% online, meaning founders receive mentoring and the opportunity to promote their business and network with potential partners from the comfort of their own homes.

Then finally, the top 10 startups are invited to an exclusive DMS Bootcamp composed of workshops and mentoring sessions. All of this is recorded and businesses will walk away with a promotional video — which can be a cost-effective way to bolster marketing efforts.

But now let’s move on to the good stuff.

Signing on the dotted line: What you need to know

All in all, DMS seems to have struck a good balance for its cohort companies but founders still need to consider why they want to join the specific program before applying.

The thing to note here is that much of what you had to think about as a founder in the pre-COVID-19 era still applies:

Take time to ask yourself why you want to join a specific program . For example, are you just after brand-building opportunities or do you merely see it as an opportunity to show off in the industry ? If it’s the latter, you should probably reconsider.

Don’t make the mistake of underestimating the commitment required from you and your team and once you’re clear on this make sure it fits around your other responsibilities. No one likes a distracted founder — and especially during times of uncertainty.

If the program you’re interested in offers funding , it’s likely that the accelerator will like to see some type of return. Figure out who the investors are , what kind of portfolio they have, and why they’re interested in backing a business like yours.

Last, but by no means least, make sure you and the organizers are on the same page when it comes to success metrics. There’s absolutely no point in working together if you’re not working towards a common goal or objective. Your company is your baby so don’t jeopardize your growth .

First up, the classics: Networking and learning

Jörg Schädlich, co-founder of Memoresa , a Berlin-based platform seeking to make it easier for people to manage their digital estate, went into the DMS program with a clear objective in mind .

He says his company joined to make new contacts with investors , companies , partners, and other startups .

“We also wanted the possibility of having so many experts in the program to learn new skills in the coaching sessions and to get new input and ideas to help us achieve our goals,” he adds.

Things paid off for Memoresa. “Thanks to the helpful coaching sessions we got the chance to learn more about specific subject areas like fundraising , marketing strategies , or getting input about our business models,” noted Schädlich.

I’d say Schädlich and Memoresa is the classic approach, enter a program to get new connections to help you with challenges outside your strengths. But just having a goal isn’t enough, it also matters how you approach reaching it.

Whatever you do, don’t half-ass it

Mark Ferencvari, a co-founder of Inventori Solutions , a Hungary-based blockchain-powered smart logistics and supply chain platform, says the activities proved useful for his company .

In his case , the program helped him get a better understanding of his business operations and to make smarter strategic decisions with his team .

Good mentorship can spell the difference between success and failure. Being able to leverage the expertise of experts on the program proved incredibly valuable for Ferencvari.

“The more a founder interacts with the mentors, the more they can get out of this program ,” said Ferencvari. Ultimately, it’s entirely down to you, the founder , to make the most out of the opportunity at hand.

Basically, you reap what you sow. It’s not enough just to show up, make sure you push for the results you’d like to see.

Stage what now?

Early-stage businesses often grapple with the same issues: finding product-market fit, getting access to paying customers, and finding investors willing to take a chance on a product with little, or no, traction.

The challenges founders face during the early days are vastly different from those seen by entrepreneurs seeking to raise a Series B or scoping potential expansion markets.

Mindful of this, Antonio Irusta, co-founder of SDX Network , a Madrid-based startup that leverages blockchain technology to analyze third-party data, joined the DMS accelerator because he wanted to get a vision of the different stages and actions required to scale a startup effectively.

The mentorship he received during the program was priceless: “Having access to experts for one-on-one advice on how to achieve your business goals and execute in specific domains was essential in helping us grow.”

So sit down and think about where your company is at and what are the most important challenges for you to solve now and what help do you need from the accelerator at this point.

For many, staying in business has been the main priority and while it may seem far-fetched to join an accelerator during such uncertain times, some would argue otherwise.

Gonçalo Ribeiro, co-founder and CEO of YData , a Lisbon-based startup helping AI adopters improve and generate their data, believes the decision to join an accelerator during COVID-19 should take into consideration where the business is at. In a way, it seems the same pre-pandemic selection criteria still apply.

“It depends a lot on the accelerator,” he notes, adding “the founders should be aware of their company stage and what they are looking for in an accelerator.”

For example, continues the founder, many accelerators focus heavily on business development, which might be suffering as a result of the pandemic. With this in mind, it’s important that founders refine their approach in order to choose the best program that meets their business needs at this particular moment in time.

Going online… a waste of time?

Like Ribeiro mentioned, you need to be aware if this is the right time for your startup to join an accelerator — and how it’s affected by the pandemic .

While going down the route of a traditional offline accelerator may provide more face-to-face interaction with stakeholders, there are also benefits to joining an online alternative.

Dr. Martin Dinov, the CEO and co-founder of Maaind , a London-based AI and neurotechnology startup seeking to improve mental wellbeing and cognitive performance, is quick to refute the idea that online programs are ineffective.

“Online accelerators work too. The trick, more so than physical in-person programs, is to actively make an effort to reach out to the organizers and fellow attendees,” adds Dr. Dinov.

It’s important to try and recreate the offline experience in a way that seems natural and organic.

Indeed, having some initial reservations about joining an online program is understandable but Javad Hatami — the CEO and co-founder of Builtrix , a Lisbon-based startup that helps companies understand and reduce energy consumption by analyzing their energy data — said it shouldn’t be a deterrent: “I believe the virtual format has enormous benefits for founders to learn at their own pace.”

Additionally, Hatami says that the program helped him understand the challenges that come with building and scaling a data-based startup and how to avoid these critical mistakes.

On another note, and something that will surely prove helpful in the future, he says the accelerator helped him fine-tune his investor pitching skills.

So if you’re in an online program, don’t be afraid to initiate follow-ups and be proactive about getting more out of the mentors you come in contact with. Don’t think about whether anything might come across as awkward or too pushy — everybody has entered into this to help each other improve, so get the most out of it.

Time to take stock and act

To say that 2020 has been a challenging year for businesses across the globe would be a massive understatement and while the future remains uncertain there’s no denying that data will remain king across every industry.

With this in mind, there’s never been a better time to take stock of your current business situation — and who knows — you might realize this is the perfect time for you and your company to join an accelerator to move forward.