Idea Factory
…where it all begins
What it is: The Idea Factory is an open collaborative forum for students to bring their latest ideas for a venture – to change the world, make a fortune or test an innovation – no matter what stage it is in, and receive guidance from their peers and successful entrepreneurs about how to take the next step. We are lucky to have Professor Ed Zschau, of the Keller Center for Innovation in Engineering Education, as our head moderator. For each session, Professor Zschau will be accompanied by various accomplished alumni and entrepreneurs whose experience and advice will be invaluable in the development of each student’s idea. Moderators will often vary; please refer to the Idea Factory emails sent through the E-Club mailing list several days preceding each Idea Factory, for they will include a list of moderators who will be attending that session, as well as any important updates or changes.
How it works: The Idea Factory is open to any Princeton student who has an idea for a new product, service, company or venture and wants guidance on what his or her next step should be in developing it. The idea can be in any stage. It could a brand new idea that you’ve started looking into or even one that you’ve been working on for a couple years but have perhaps hit a roadblock. We’ll start with you presenting your idea briefly and summarizing how far you’ve taken it and the questions or issues you’ve encountered so far. You don’t need anything fancy, but you should have organized your thoughts enough so people can understand what you’re pursuing. After that, Professor Zschau, our weekly guest moderators, and your peers will help you think through how you might develop your idea to the next stage. This will be an informal, collaborative and interactive environment (no lectures involved). Our focus will be helping you to “take the next step” with the idea you’re serious about pursuing.
Why we’re doing it: Lots of great venture ideas never see the light of day because people don’t know how to convert their inspirations into reality. This is a setting to help you figure out what’s next for yours. In our first four test sessions, we have helped over 50 students refine their ideas and work towards taking the next step.
When & Where: Sessions will be conducted throughout the year, typically on Thursday afternoons (5:30–7:00) in Frist 207, with the specific dates and times posted on the Princeton E-Club website. Reminders concerning the Idea Factory will be sent through the Princeton E-Club mailing list a few days before each session, as well as any important changes or updates.
How do I attend an Idea Factory Session? Just show up! No advance notification is required. However, the number of seats is limited and the room often fills up quickly, so arriving early is recommended. Did we mention that we serve free pizza and drinks?
Can I attend even if I don’t have anything to present? Absolutely. The Idea Factory is an open forum that is governed by the moderators; however, most of the ideas and feedback are from the students themselves. Your contributions are valuable and often necessary in the development of the ideas of your peers.
Can I discuss ideas I heard in Idea Factory outside of session? Only with the presenter’s explicit permission. Please keep in mind that these ideas have often not yet been patented, and the careless sharing of such sensitive information may result in valuable ideas being stolen by others. The Idea Factory relies on the fundamental trust that whatever is discussed during the session is to remain within those boundaries, unless otherwise stated by the presenter.