Pedagogy is the correct use of instructional techniques to achieve teaching outcomes, or styles of teaching. One style of teaching companies to create wealth through innovation was founded by George Kozmetski who made a fortune as a defense contractor and then became the Dean of the University of Texas at Austin business school. At the business school George founded the pedagogy behind the IC2 [that is pronounced as IC squared, meaning Innovation, Creativity and Capital] Institute, the institute with an innovation and business support program that has gained results in over 5 countries, for hundreds of companies.
In Suwon, the program is headed by Dr. Joel Momberger and a highly qualified staff. The team are a talented bunch and the program has bilingual capacity. Some of the staff have been so impressed with the achievements of the program that they have begun the post graduate program from the University of Texas at Austin that forms part of the program offered to SMEs.
As of August 2009, the program had screened 91 technologies, made 20 market research reports, had 12 technologies accepted for business development in the United States, made 7 results for business development in the United States and trained 35 people. This figure is conservative as the program is about to graduate the second year of applicants.
The program has six phases:
Phase 1: Recruitment of applicants,
Phase 2: Screening and selection,
Phase 3: QuickLook report,
Phase 4: Mod 6 Training (this is part of the University of Texas at Austin graduate practical innovation program)
Phase 5: Presentation Competition,
Phase 6: Business Development.
Here are a few of the business development results. Each of the company's stories is quite unique and so were the solutions...
DGS Co. Ltd.
DGS Co. Ltd. Were assisted by the program to sell their coated clips for automatic braking systems to Hyundai. The clips are now fitted to all Hyundai Kias.
Fastech
The IC2 program also assisted Fastech, to displace their Japanese competitor. Fastech make production line automation equipment for the likes of semiconductor factories and such.
Wheel Corp
IC2 made an interesting gain with clamp manufacturers, Wheel Corp. The company makes clamps and was removed from their market by a cheaper competitor. After disappearing to add a research and development perspective to their product that became their competitive edge, Wheel Corp was assisted back into the original market that closed to them on account of price. Theirs is a clean illustration of a simple principle giving a competitive edge and a clean illustration of what the program can help companies with.
Joel Momberger, Director of the program in Suwon, is passionate about what he does. Joel said, "Governer Kim had the vision to realize that the program really would create jobs and wealth." With 37,000 SMEs and 42 Universities in Kyeonggi province looking for ways to develop business and innovate, Joel Momberger has a busy job.
The program charges no success fees and they take no equity in the companies that they assist. This is the primary difference between the program and a venture capitalist. Joel also said that this has given them a great position as transparent advisors to the companies. The program, while it accommodates a lot of technology companies and technological innovations, is actually not sector focused.
The core value of the program is to 'take SMEs and give them muscle tissue to be self sustaining,' said Joel Momberger. Joel used to work for a number of star companies and he has also acted as a head of Oracle. Joel truly believes in the program and his passion for it could be heard throughout the interview.
The program is hoping to offer extended support to graduated companies soon and perhaps a longer business cycle. The progam also wants to build a network of continued help for companies and those able to do so would not face discouragement. The next round of applicants will meet international assessors in Suwon this month.
