This paper outlines our experiences in the implementation and evolution of the Product Realization Process (PRP) in industry sponsored capstone team design projects with an emphasis on developing business plans. Particular emphasis is placed on the incorporation of innovation and entrepreneurship since the Innovation Center was established two years ago. In 1996 we began using the PRP in our capstone courses with 6 projects from 3 companies. We now implement over 60 projects each year. The total number of companies that have sponsored projects is now over 80. Approximately 10 projects per year are related to innovation and entrepreneurship and include elements of market studies, patent searches, intellectual property investigations, cost estimating, manufacturing and the development of a business plan. This paper will address the following: • The evolution to multidisciplinary projects; • The enhancement of the conceptual design process to emphasize innovation; • The migration from a one semester course to a two semester sequence; • The development of partnerships with faculty and students in the School of Business and the Law School; • The parallel phases in the projects that include technical development and the development of a business plan.

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