Elizabeth holds a Ph.D. in Computer Science, has been an adjunct professor at the University of Minnesota for over 10 years, and has initiated 2 software businesses as an employee of 3M Company’s Corporate Research lab.
The 1st 3M business was a software product that automated 85% of the assignment and scheduling decisions in dispatching field service technicians, and provided 40% productivity improvements for dispatchers and 20% for technicians. One unique concept was using the built-in simulation mode that had been designed to support test efforts, as a marketing tool that allowed potential customers to run their historic data through the product to demonstrate actual productivity improvements. This demonstration of the actual product working on customer data led the second customer to offer $5 million for the product. That business was part of the Imation spin-off from 3M.
The 2nd 3M business was a product-line extension into assignment and scheduling of nurses for home health care. The product line approach reused about 95% of the business assets, from the 6 software patents to the product itself, with only UI and data field modifications to accommodate the differences between the markets. Elizabeth identified the second market by reviewing the patent agreement between 3M and Imation, recognizing markets relevant to this technology, and then selling the business opportunity with the shortest time-to-market to 7 vice presidents. She obtained $1 million to launch, and the business eventually moved into 3M’s Health Information Systems subsidiary.
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