Key Terms

• I-Corps – I-Corps employs the scientific method to help researchers discover whether or not there is a market for their product or technology. Pronounced “eye core.”
• Customer discovery – The process of hypothesizing who your market is and what their needs are, interviewing some of those potential customers, and redefining what the market and the needs are based on conversations with potential customers (gathering data)
• Customers – People you will interview to discover more about the market, also referred to as interviewees (you will not be “selling” or discussing your product or technology, just asking questions and listening)
• Business Thesis – A hypothesis about how and why your technology or innovation creates value in the real world and who wants it
• Entrepreneur in Residence (EIR) – Entrepreneurs who have started, raised funding for, and successfully exited companies. These individuals bring valuable experience, networks, and knowledge to the I-Corps program. The LVG team will make connections to EIRs for follow-on work when and where their domain expertise is most impactful.
• Office Hours – Required, individualized time for teams to meet with our instructors or EIRs to ask questions, get feedback and guidance, and work on presentation materials
• Team – Consists of one to four people. Individuals can act as teams for the purpose of our regional program. This simply means that you will not have others to share responsibilities. If you decide to participate in the NSF’s National I-Corps Program, teams will need to consist of at least three people, with one person in each of the following roles – technical lead, entrepreneurial lead, and industry mentor – as explained below.
• Technical lead (TL) – Typically a faculty member who is the technology inventor and serves as principal investigator, or a postdoctoral researcher who has deep expertise in the core technology
• Entrepreneurial lead (EL) – Typically a graduate student or postdoctoral researcher who leads the team and is committed to commercialization
• Industry mentor (IM) – An industry expert with business/entrepreneurial experience who is independent from the technology development and team. You won’t need one to participate in Discovery, but you will be required to have one if you want to apply to participate in the National I-Corps program. 
• Pivot – Analyzing the feedback received through customer discovery and deciding to pursue another market or making major changes to your product or technology in order to better meet market needs