This paper offers lessons learned from a partnership between the Texas A&M School of Innovation (I-School) and the Texas A&M Educational Technology program. Taking on the I-School as a "client," online graduate students in an Advanced Instructional Design course spent a semester designing the first of a set of online educational modules aimed to educate inventors, especially those emerging from research institutions, about the process of obtaining funding from outside sources for commercializing their technologies. Key elements of authentic learning experiences include a "real-world relevant project," "collaboration," "meaningful reflection," and a "polished product" (Herrington et al. "Australian Journal of Educational Technology," 19(1), 57-71. 2003). The design of the asynchronous course is discussed in terms of how it reflects these elements of authentic learning experiences. In addition, the experience of participating in this client-based authentic learning experience within an asynchronous, online course is discussed from the instructor, student, and client perspectives.