The Business Development lab supports the mission of the Business School to aid and inspire students working on innovation at the intersection of STEM and society. The lab collaborates with WPI partners focused on innovation and entrepreneurship facilitating a community of learners where students, faculty, and staff of different disciplines can collaborate on starting a business.
The Business Development Lab is open to all students, faculty, and staff of WPI with limited programs available to WPI alumni and WPI community members. Individuals need to apply to be accepted into the lab. The lab opens a chance for teams to test and develop their ideas with the guidance of a mentor.
Goals of the Lab
- Introducing students in cross disciplinary teams in an entrepreneurship mindset for real life applications
- Enabling students to generate revenue/consulting fees doing what they are passionate about while learning in and out of the classroom
- Lowering the barrier to enter the workplace by allowing students to gain real life experience
How It Works
Applying to the Lab
First, you should have an idea or innovation that has been previously tested. The team knows their market and has a minimum byproduct that can be further tested in the lab. These innovations can come out of Innovation Studio Programs such as MassDigi. When you're ready to apply, you can do so here.
After You've Been Admitted
Teams will be assigned mentors AMP! (Advisors and Mentors Partnerships) that will help the team when developing their idea further. This lab will help your company test your idea further and implement structure to develop a improved product or service.
Once teams implement company structure, test out their ideas, and develop a high quality product or service, you can move on to funding your prototype.
For Interested Teams Without a Tested Product or Service
Teams without concrete and minimally tested products or services are encouraged to apply. Depending on the state of the team’s ideas, teams may be pointed to the OTC (Office of Technology Commercialization) or the Innovation Studio.
Apply to Join the Lab
The Center for Innovation and Entrepreneurship
Are you interested in WPI’s campus-wide approach to innovation and entrepreneurship? The Center for Innovation and Entrepreneurship connects the WPI community with wider partnerships and leaders across industries.