Pitching a groundbreaking idea and gaining support for that idea are highly prized professional skills, and students from The Hoeft Technology & Management (T&M) Program, a joint university minor within Gies College of Business and The Grainger College of Engineering, recently tested their abilities on a global stage. Competing with undergraduates from around the world, they developed bold ideas poised to transform the transportation industry, proving that innovation isn’t just about vision; it’s about making others believe in it, too.

Hosted by the University of Illinois and held in Austin, TX, the 10-day International Business Plan Competition immersed students in the art and science of developing a business model around an innovative idea. This year, it focused on the transportation sector-- everything from aerospace and micro-mobility to logistics and commercial transportation. The event also included site visits to NASA, Tesla, and the Port of Houston. The competition brings together students from top universities in Hong Kong, Brazil, and Germany. The students are grouped into multinational teams for the competition.

“Working with five students from universities from around the world allowed me to interact with diverse perspectives and learn about different cultures and customs,” said Isabel Zhou, a junior double majoring in accountancy and information systems, who was part of this year’s winning team. 

Added Sangeetha Jayaraman, a junior majoring in finance + data science, “The competition’s mentors helped me understand the entrepreneurial mindset and how people from other parts of the world conduct business and interact with one another,”

Students followed a rigorous startup development process, from market research and financial modeling to prospective customer interviews. Each day brought new deliverables as they followed the steps to launching a startup, culminating in a business pitch to a panel of judges.

“The goal is to give students experience collaborating with a global team to develop a business plan for a high-tech innovation,” said Samantha Koon, director of The Hoeft Technology & Management Program. “It is one of the many ways we open their eyes to their own potential and skills. We erase the notion that a founder has a specific personality type.”

The Hoeft T&M program, with about 60 students per cohort, is grounded in experiential learning, including three global immersion opportunities each year. They also may travel to Brazil in March and Japan in May.

“It’s a powerful experience to step out of the classroom and see what corporate culture looks like and what it means to work in their field of study in another part of the world,” said Koon. “Since its inception, The Hoeft T&M Program has focused on how to marry co-curricular activities with the classroom experience to create more well-rounded students who are able to jump into big projects in industry positions more quickly.”

The power of interdisciplinary collaboration

The Hoeft T&M Program empowers graduates from Gies Business and Grainger Engineering to excel in multi-functional roles, such as project or product managers. It equips them to speak the language of their counterparts in engineering or business, a highly sought-after skill.

Students are hand-picked through a competitive application process. Sophomore engineering and business majors apply to the program, which consists of seven required courses completed during their junior and senior years. This curriculum includes four unique interdisciplinary T&M courses that all students take. Additionally, the business students take three engineering courses focused on product materials and mechanics, and the engineering students take three business classes covering corporate finance and new product marketing. Since it was established in 1995 through a generous gift to the university from Leonard C. (BS ’47) and Mary Lou Hoeft, about 1,200 students have completed the program. Every T&M graduate from the Class of 2024 reported a successful first-destination outcome, and T&M alumni report 15% higher average starting salaries compared to their peers from their respective colleges.

“The business students learn that they don’t need to know everything an engineer does to launch a startup,” said Sandra Corredor, an associate head of business administration at Gies, who teaches the program’s capstone project. Corredor was named one Poets&Quants’ Top Undergraduate Business Professors in 2024. “They discover what they need is a team with skill sets that complement one another.”

“It’s imperative for engineers to have one right answer, which is not how to approach a marketing problem,” said Ravi Mehta, a professor and associate head of business administration who teaches New Product Marketing to Hoeft T&M’s engineering students. “They learn to break down problems and make decisions based on their own experiences and perspectives. What starts as a required class for them turns into a subject they love because it teaches engineers a different mindset.”

Immersive experiences and career exploration

One of the signature events of the program is the annual Professional Development Trek because it creates opportunities to engage with alumni and connect to diverse industries. The newly admitted cohort of students visits corporate affiliates such as Abbott, Boeing, Caterpillar, and Synchrony, participating in factory tours and small group discussions.

“I have always been passionate for technology and saw The Hoeft T&M program as the perfect opportunity to explore its intersection with business,” said Alexa Stolyarov, a junior majoring in finance. “I was also drawn to the cohort model, which has allowed us to build a strong sense of community and collaboration. Taking courses alongside the engineering students has broadened my perspective and challenged me to think in new ways.”

The Hoeft T&M curriculum and design continually evolves to ensure business students gain relevant exposure to modern engineering challenges, and vice versa, said Geoffrey Love, academic co-director of the program. “Our goal is to enhance Gies Business students’ expertise by giving them a deeper understanding of engineering concepts so they can collaborate more effectively and productively with data scientists and computer scientists across an organization.”

Learning new ways to solve problems

What differentiates The Hoeft T&M Program is its long-established international roots and emphasis on practical application. It is structured so each cohort works together for two full years, instead of just a course or two. The bonds formed within the cohort improve student performance while in the program and serve as the foundation of an incredibly active and supportive alumni base.

“Whether it’s learning the complexities of circuits or working on a capstone project, T&M provides students with thought-provoking assignments that replicate what I saw in my first industry role,” said Gies Business alumnus Ken Weiss (FIN ‘22), who transitioned from an internship with corporate sponsor Synchrony to a full-time position in 2022.

“These projects give students a true sense of what they’re likely to walk into on their first job and beyond,” said Corredor. “These classes are always dynamic – students are not afraid to speak up, ask questions, and challenge each other. They learn how to work together and respect each other.”

In a joint class with engineers – TMGT 366: Product Design & Development – Gies junior Ariana Mizan noticed distinct differences in how each major approaches problem-solving. Their first assignment, to design a robot that embodies love, challenged both.

“We all were confused about how to approach the prompt but ended up having so much fun together,” said Mizan, who is majoring in strategy, innovation, and entrepreneurship. “I thought engineers would be rigid thinkers, but initially it was the business students who wanted to immediately create a plan and assign tasks. Working together, we realized we all have creative potential and can think in an abstract way.” 

The result was robots that were diverse and imaginative, ranging from cute and cuddly to functional and symbolic.

Opening doors to diverse career paths

“Beyond the classroom, we have created an immersive experience where students spend time in corporate boardrooms and on production floors so they can see their majors in action in settings they may not usually have access to,” said Koon. The program introduces them to multiple career pathways, broadening their perspectives and helping them make informed decisions about their first jobs and beyond.

“The Hoeft T&M Program has prepared me to think of big ideas that can directly solve a niche problem for a specific community,” said Mizan, whose goal is to work at the intersection of business, technology and law, building on what she’s learned about social entrepreneurship. “The beauty of this experience is that I haven’t pigeonholed myself—so many doors are opening up to me.”

Added Stolyarov, who plans to pursue consulting, “No matter where my career takes me, I know that the collaboration and interdisciplinary skills I’ve developed in T&M will be invaluable in working with clients and teams from diverse backgrounds.”