Innovation by Design is a pioneering methodology for creating multi-party University/industry collaborations to hatch breakthrough ideas that may lead to new intellectual property (IP), products, and services.

 Rather than starting with existing University intellectual property (IP) and then seeking the market need, IBD collaborations start with identification of a compelling market need and development of a viable business model before tapping the unique intellectual resources within the University and its industrial partners for the appropriate technology to address the identified need.

IBD collaborations may lead to the creation of new IP that will be jointly owned by a quasi-endowed fund of the University of Minnesota Foundation and its corporate/industrial partners.