Physics Entrepreneurship Program Curriculum

  • PHYS 491 & 492 Modern Physics for Innovation, 6 credit hours, fall & spring semesters
  • LAWS 5341 Commercialization and Intellectual Property Management, 3 credit hours, fall semesters only
  • LAWS 5366 Venture Finance & Transactions (2 credit hrs) OR BAFI 444 Entrepreneurial Finance (3 credit hrs), spring semesters only
  • 400-Level PHYS Course, 3 credit hours, any semester
  • Approved Restricted Elective, 6-10 credit hours; any semester
  • PHYS 651* Thesis, 6-9 credit hours, can begin in any semester


Note: International students are highly recommended to enroll in supplemental english communication programs.

*Full-time status requires registration for a minimum of 9 semester hours per semester or at least 1 semester hour of PHYS 651.

Course Descriptions:

PHYS 491 & 492: Modern Physics for Innovation I & II

The objective of the course is to provide an understanding of science–with emphasis on physics–as a basis for successful innovation, launching new high-tech ventures, and real-world problem solving. The course examines technology forecasting, physical limitations of present solutions to a “need”, and the use of science for innovation, including opportunity identification, identifying alternative approaches to a “need”, and due diligence.

Case studies will be used to illustrate recent commercially successful and unsuccessful physics-based venture creation, and will illustrate characteristics for success.

Prerequisites include an undergraduate degree in physics, physical chemistry, math, or engineering with a substantial background in math and physics.

In order to provide maximum flexibility for students, the course is taught at night and meets once per week.

Approved Restricted Elective

A course in science, engineering or technology innovation/entrepreneurship appropriate to an individual student’s program of study. Course must be approved by the Physics Entrepreneurship Program Committee.

Internship and Thesis

Students are required to write a thesis in order to graduate with a Master of Science in Physics, Entrepreneurship Track. The thesis must be based on a project of significant time investment on the part of the student and must be grounded in the real world (e.g., not an hypothetical exercise). Thus, each PEP student is required to work as an intern, employee, or entrepreneur, typically with a start-up, existing company, early-stage investment firm, or an affiliate of a research organization. The duration of this work must be at least one year, with one semester typically reserved for work entirely outside of the classroom (usually the fourth and final semester). Because of time constraints and market uncertainties, STEP students are encouraged to begin their internship or job search as early as possible. Students typically start internships in the spring semester.

The PEP thesis must contain robust science/technology and commercialization sections. Otherwise there are no specific requirements for content, however all theses must be written under supervision of a thesis adviser.

An oral examination (defense) of the master’s thesis is required. This examination is conducted by a committee of at least three members of the university faculty, and includes a general oral examination of topics that have been agreed-upon by the committee in discussions with the student. The candidate’s Thesis Advisor customarily serves as the chair of the examining committee. The other members of the committee are appointed by the Faculty Director of the PEP program. The examining committee must agree unanimously that the candidate has passed the thesis examination. Because theses are made public immediately upon acceptance, they should not contain proprietary or classified material. When the research relates to proprietary material, the student and Advisor are responsible for making preliminary disclosures to the sponsor sufficiently in advance to permit timely release of the thesis, and these plans should be disclosed when the thesis is submitted to the School of Graduate Studies.

Internship Duration

Because of the nature of start-ups and technology commercialization, a student’s internship may consist of several projects with different organizations, some lasting as little as a few weeks. However, long-term (i.e., one year) internships are most desirable in order to develop meaningful relationships with mentors and industry connections.

Internship Pay

STEP students, by United States labor law, must be paid for all work that is done unless it can be shown that “the employer that provides the training derives no immediate advantage from the activities of the trainees, and on occasion the employer’s operations may actually be impeded” (reference:TRAINING AND EMPLOYMENT GUIDANCE LETTER NO. 12-09). Students are paid for their work through various methods, such as direct pay from the sponsor, research grant, or economic development grant (i.e., Third Frontier Internship Program). Other arrangement such as equity and intellectual property may be negotiated on a case-by-case basis, within applicable laws.