PHILADELPHIA, April 3, 2019 /PRNewswire/ -- Students and faculty are able to collaborate with professionals to create never-before-seen digital products at the Institute for Business and Information Technology's new Digital Innovation Foundry (DIF) at Temple University's Fox School of Business.
The Capgemini Digital Innovation Lab at the Foundry opened Monday, March 18, with the help of $1.27 million in funding from corporate and individual donors. DIF, hosted by the Institute for Business and Information Technology (IBIT) at the Fox School, empowers students and faculty from across the schools at Temple University to work with technology industry professionals to create digital prototypes that they can integrate into the global market.
Through the opportunities at the DIF, students, alumni and professionals are able to assess the effectiveness of their products in overcoming challenges in the business world, and faculty are able to conduct design research.
"The mission of the Foundry is closely aligned with our focus on digital innovation and transformation so we are pleased to invest in the new Capgemini Digital Innovation Lab at Temple University," says Jonathan Brassington, the head of Capgemini Invent and an IBIT Advisory Board member.
The DIF is unlike the traditional business incubator model in that it allows teams of students, professors and industry professionals to collaborate on long-term digital innovation projects that focus on the technology first, while working with a meld of academic research and creative thinking.
"The Foundry is another example of the dedication at the Fox School to create opportunities for collaboration between students, alumni and professionals and to support the innovation and creativity, which will empower our students and alumni to become tomorrow's leaders," says Interim Dean Ronald Anderson, the Fox School of Business and the School of Sport, Tourism and Hospitality Management.
Students from any of Temple's 17 schools will be able to work first-hand with businesses undergoing digital transformations.
"DIF is a way to ensure we're sending our graduates out into the corporate world with an experience of collaborating across disciplines," says IBIT Advisory Board member and alumna Sondra Barbour, former executive vice president at Lockheed Martin Corporation and board member at 3M.
Several board members made remarks at the foundry's opening:
- Niraj Patel, managing director at DMI: "Technology will transform every industry." The foundry is "an initiative that will engage all of Temple's disciplines to produce digital innovation."
- Andrea Anania Stewart, IBIT board member: "The Digital Innovation Foundry has a practical, well-thought-out plan to engage students, industry, and faculty."
Bruce Fadem, advisory board chairman, lead the effort to create the foundry and several businesses that hold advisory board seats at IBIT were involved in creating the foundry, including Alexion, AmerisourceBergen, Emtec, NBCUniversal, Pfizer, QVC and Scholastic.
"Having been on the corporate side for 30-plus years primarily as a Chief Information Officer, I'm well aware that the pressure to constantly make sure there's a return on investment is very large," Fadem said. "So for corporations to be able to take advantage of a facility that already exists, this is a great opportunity."
For more information about the Digital Innovation Foundry, contact Matthew Coughlin, associate director of communications at 215-204-6083 or Matthew.Coughlin@temple.edu.
About the Fox School of Business
Temple University's Fox School of Business is the largest, most comprehensive business school in the Philadelphia region and among the largest in the world, with more than 9,000 students, 220 full-time faculty and 60,000 alumni around the globe. The Fox School has a proud tradition of delivering innovative, entrepreneurial programs for the past 100 years. With facilities that provide access to market-leading technologies, the school fosters a collaborative and creative learning environment. Coupled with its leading student services, the Fox School ensures that its graduates are fully prepared to enter the real-world job market. Learn more at fox.temple.edu. Follow us on Twitter, Facebook, Instagram and LinkedIn.
Associate Director of Communications
Fox School of Business
SOURCE Temple University's Fox School of Business