University of Texas, El Paso

UTEP enrolls approximately 15,000 students (14% White, 69% Hispanic, 2.4% African- American, 10% Mexican Nationals).

The Director of University Studies and the Director of the Centers for Entrepreneurial Development, Advancement, Research and Support (CEDARS) attended the grant conference. The UTEP grant announcement press release states:

“For more than 10 years, UTEP has offered several outreach programs designed to foster business development, from the Franchise Center to the Family Business Forum. The university also offers a program – Secondary Education in Entrepreneurial Development – designed to bring UTEP expertise into the classroom, giving area high school students the basic tools to go into business. UTEP also offers an internship program designed to help students work in the business setting and see entrepreneurship in action.”

The press release also states that the initial proposal outlines plans to create a Center for Hispanic Entrepreneurship on campus. The center would house an urban student entrepreneurship corps who would work individually and in teams with the City of El Paso, the chambers of commerce and other organizations to research ways to stimulate El Paso’s economic growth.

The College of Business Administration at UTEP has developed outreach programs and activities to satisfy both academic and community entrepreneurial needs through the organization of the Centers for Entrepreneurial Development, Advancement, Research, and Support (CEDARS). Outreach organizations and activities include:

ArkLaTex Collegiate Entrepreneur Awards The regional awards and the North American Collegiate Entrepreneur Awards are recognition of exceptional entrepreneurial skill and creativity among undergraduate students enrolled in colleges, universities, or other post-secondary institutions. The awards were begun in 1988 by Saint Louis University's Entrepreneurship Center.

Border Region Modeling Project The Border Region Modeling Project is an independent research unit within the Department of Economics & Finance. Headed by Dr. Tom Fullerton, the Border Region Modeling Project houses the 210-equation Borderplex Econometric Forecasting Model. Geographic coverage provided by the model encompasses El Paso, Texas; Ciudad Juárez, México; Ciudad Chihuahua, México; and Las Cruces, New Mexico. Sectoral coverage provided by the model includes demography, employment, personal income, retail sales, residential real estate, transportation, international commerce, water consumption, and cross border manufacturing. Short-term cyclical forecasts generated using the model are published every year during the fourth quarter. Long- term trend projections generated with the model are published every year during the third quarter. The Border Region Modeling Project also publishes a refereed technical report research series that investigates borderplex policy and development issues.

Kauffman Campus Initiative Participants 1 Family and Closely Held Business Forum UTEP's Family and Closely Held Business Forum brings in national speakers quarterly for its members and provides training in strategic and financial planning, interpersonal relationships (especially among family members in the business) and other business topics that concern forum members. The forum's goal is to help El Paso's family businesses work toward continued success as the families and businesses move into successive generations.

IPED The Institute for Policy and Economic Development provides leadership and coordination at the University of Texas at El Paso in order to provide objective analysis and interpretation of public and private policy research, to address issues of importance to the people of the Paso del Norte and Camino Real and to insure economic development proceeds in a rational and sustainable fashion.

SEED The primary objective of Secondary Education in Entrepreneurial Development (SEED) is to infuse entrepreneurship education into the curriculum of secondary schools.

SBEEP The program is created specifically for minority business leaders wishing to expand and strengthen their strategic position as a small business owner. Its main goal is to develop and improve the management and business decision skills of all participants in a five-day intensive session at The University of Texas at El Paso in the "Sun City." Minority business entrepreneurs will be challenged with an array of topics covering current and future business issues and opportunities that will provide them with leverage to expand their dynamic global workplace and position them with expanded visionary goals for this new millennium.

The Center for the Study of Western Hemispheric Trade The Center for the Study of Western Hemispheric Trade at the University of Texas at El Paso was founded in 1995 to promote and study trade between and among Western Hemisphere countries. Constituents for the Center include the business community, government policymakers, workers, professionals, and students. The Center provides a variety of international business and economic research to government agencies, the private sector, and academic community regarding the impact of economic developments on foreign and commercial policy in the region.

The Center for Women in Business The Center for Women in Business was introduced in the spring of 2000. The Center's pilot program is "Building Better Business Women." The program is designed to educate and help women grow professionally and personally. The goal of the program is to enhance participants' business skills through education, networking and idea exchange. The sessions prepare participants to better lead and manage in a multicultural and global environment by providing access to successful business people, university faculty, current technology and up-to-date management tools.

Kauffman Campus Initiative Participants 2 The Franchise Center No other university or corporation has developed a certification program with the intense instruction from franchise professionals, franchise professors and frachisors. The Franchise Center also has the Franchise Resource Library and gives two 2 1/2 day seminars for the Franchise Management Certification Program.

The Small Business Institute The Small Business Institute offers personalized, confidential consulting services to small businesses. These services will be conducted by teams comprising senior business students under direct faculty supervision.

UTEP is ranked in the top 50 colleges and universities by Entrepreneur Magazine. The Kauffman Foundation has awarded UTEP an Entrepreneur Internship Support grant, and an Entrepreneur Internship Program grant in the last two years.

Kauffman Campus Initiative Participants 3 University of Wisconsin-Madison

UW enrolls approximately 41,500 students (87% White, 4% Asian American, 2% Hispanic, 2% African American).

The Dean of Academic Affairs at the College of Engineering, the Ford Company Distinguished Chair in Management and Human Resources, and the Director of the Weinert Center for Entrepreneurship attended the proposal conference. The grant press release states:

“Provost Peter Spear and School of Business Dean Michael Knetter initiated the planning project, which seeks to stimulate entrepreneurial values, skills and knowledge, particularly involving technology and social issues.

The project will focus on encouraging resourcefulness and creativity in finding and actively using opportunities, and will also emphasize on social entrepreneurship - for example, the creation of a new rural cooperative for sustaining natural prairie wildlife. It envisions taking UW-Madison's existing programs in technological entrepreneurship to a new level; focusing, for example, on the launch of a start-up company based on a new scientific breakthrough or the development of a new product. The project encompassess both research and teaching activities. "I am pleased UW-Madison's initial vision made it to the next level," says UW-Madison Chancellor John D. Wiley. "This campus has already created exceptional cross- campus entrepreneurship initiatives not present at other schools. This project will help us spotlight social entrepreneurship, tackle new frontiers in technology entrepreneurship and explore how we can deepen entrepreneurial values across the whole campus."

Helping to craft the proposal and playing key roles in the planning process are the following UW-Madison deans: Elton Aberle, College of Agricultural and Life Sciences; Gilles Bousquet, International Studies; Phillip Certain, College of Letters and Science; Robin Douthitt, School of Human Ecology; Kenneth Davis, Law School; Michael Knetter, School of Business; Paul Peercy, College of Engineering; and Charles Read, School of Education. Faculty and staff in each school are also involved.

The proposal was developed by a team comprised of Professor Anne Miner, executive director of INSITE (Initiative for Studies in Technology Entrepreneurship); Professor Ramon Aldag, executive director, and Larry Cox, director, of the business school's Weinert Center for Entrepreneurship.”

UW has an extensive array of entrepreneurship-related programs and activities across a variety of schools and colleges.

 The Business School houses the Weinert Center for Entrepreneurship, which is dedicated to teaching, research, and service pertaining to entrepreneurial management and enterprise development. The Center offers a graduate concentration in entrepreneurship and is home to the Weinert Applied Ventures in Entrepreneurship (WAVE) program. The WAVE program provides students with a year-long practicum in starting and growing

Kauffman Campus Initiative Participants 4 entrepreneurial business. Students work with local businesses, and can also apply for Weinert Venture Funds to launch their own businesses.  The SBI Case program matches local businesses with student Small Business Development teams.  The Forum program assembles a panel of experienced entrepreneurs and venture experts to review, critique and counsel students’ and other entrepreneurs’ preliminary business plans.  The Family Business Center offers resources to families committed to growth and perpetuation of family enterprises, providing access to top professionals with expertise in succession planning, financial management, estate planning, family dynamics, business planning, human resources, banking, law and insurance.  The Small Business Development Center offers comprehensive services and resources for small businesses.  The College of Engineering houses the Office of Engineering R&D and Technology Commercialization, which is the primary contact point for business, industry and government to access technical capabilities in engineering.  The Technology Enterprise Cooperative (UW-TEC), housed in the College of Engineering is a campuswide organization that gives faculty and students the opportunity to experience the technology-based entrepreneurial process firsthand.  The UW office of Corporate Relations’ goal is to “create and strengthen mutually beneficial relationships between the private sector and the university, with special emphasis on technology transfer, continuing education and providing well-educated students and graduates.”

UW is ranked among the top 25 entrepreneurial programs by Entrepreneur Magazine. In 2002 Kauffman awarded UW a National Consortium of Life Science Entrepreneurship grant.

About INSITE

The Initiative for Studies in Technology Entrepreneurship (INSITE) seeks to enhance the University of Wisconsin’s impact on technology entrepreneurship in two ways.

INSITE:

1. Facilitate, create and transmit fundamental research related to technology entrepreneurship 2. Facilitate and encourage leveraged curriculum and program development related to technology entrepreneurship

Kauffman Campus Initiative Participants 5 The field of technology entrepreneurship includes new venture creation, financing new ventures, strategic management of technology, legal and regulatory influences on innovation and venture creation, and related policy issues.

UW faculty in Agriculture and Life Sciences, Business, Economics, Engineering, Law, Letters and Sciences and related fields have helped create INSITE. We are part of the University of Wisconsin's strategic Cluster Hiring Initiative designed to devote a critical mass of faculty to critical areas that would not be addressed through existing departmental structures.

More information on other cluster initiatives can be found here.

Related UW Organizations

INSITE complements the rich family of University of Wisconsin units that support, enhance, and conduct research on fundamental issues in technology entrepreneurship.

Many of these groups offer support and classes for active entrepreneurs or consultation for university faculty and staff seeking to launch or enhance technology-based businesses

Small Business: The First Step

Thinking about going into business? Spend one evening getting a clear picture of what it's really like to run a small business. Assess your own strengths and weaknesses as a business owner. Learn how to analyze the potential for your business. Discover what information you need and where to find it. This program is designed for people who have not yet started a business.

You will learn how to answer these questions:

 Do you have the right personality, skills and life situation to start and manage a business?  Do you have a good business idea that will meet a customer need and make a profit?  What kind of investment will be necessary to start your business?

Instructor: Barry Roberts, Education Program Manager of the SBDC, and SBDC staff present these workshops.

Limit 25; 0.3 CEU; $35

Small Business: The Fundamentals

Starting a business? Success in small business depends on hard work, good fortune, and business knowledge. Attend this eight-session course to develop your management skills. Experts in law, accounting, banking, insurance, management, and marketing cover the fundamentals of small

Kauffman Campus Initiative Participants 6 business management. Gain knowledge about growth stages and problems, marketing, promotion and advertising, legal issues and requirements, record-keeping, accounting and financial management, financing, insurance and risk management, and business plans.

Session One

Small business and the owner/manager Look at critical issues for small business managers; Examine the growth stages of a business; Focus your efforts with a business plan; Prepare for the future of your business. Instructor: Neil Lerner, director, UW-Madison Small Business Development Center

Session Two

Marketing: developing your overall strategy Determine the 4 P's of marketing for your business: Product, Price, Placement and Promotion. Examine external factors crucial to your business success; Understand your customers needs and wants. Instructor: Rick Morgan, Morgan Marketing Partners

Session Three

Promoting your product or service Determine the best methods of promoting your business; Measure the success of your promotional efforts; Develop a promotional budget; Develop a promotional message that works for your business. Instructor: Jacqui Sakowski, Sakowski Consulting

Session Four

Legal issues and requirements Determine the best legal entity for your business and how your choice affects your liability and taxes; Review unemployment compensation, independent contractors, intellectual property; discrimination; vicarious liability and deceptive advertising. Instructor: Mike Morris, attorney, Neider & Boucher, SC

Session Five

Insurance and risk management Determine your insurance and risk management needs; Evaluate the insurance counseling you receive. Instructor: Rollie Boeding, state risk manager, WI Department of Administration

Kauffman Campus Initiative Participants 7 Managing employees Discover best hiring methods; Motivate your employees for peak performance; Give feedback appropriately. Instructor: Robert Lenburg, Human Resources Group

Session Six

Record keeping and accounting Determine what types of financial records you must keep; Understand the basic concepts of accounting; Select an accountant and maximize your relationship. Instructor: Mary Ash, senior manager, RSM McGladrey, Inc.

Session Seven

Finance your business Learn about sources of financing for your business and meeting the requirements of financing sources; Reduce your financial risk; Selecting and working with a bank. Instructor: Kim Meadows, first vice president, M&I Bank

Session Eight

Financial management and taxes Discover what useful information is in your financial statements; What are the tax ramifications of owning your own business. Instructor: Mary Ash, senior manager, RSM McGladrey, Inc.

The Real Story: Testimonial from a small business owner Discussion Leader: Barry Roberts, program manager, Small Business Development Center

Limit 40; 2.0 CEU; $199 ($159 for each additional enrollee from same organization

Developing a Business Plan

A written business plan helps you control your business rather than letting it control you. Attend this workshop to learn the business planning process and start writing your plan. Discover how to target your market, analyze competitors, and examine your strengths and weaknesses. Learn how to set goals and develop financial projections. At the end of the five sessions, you should have a first draft of your plan. Includes a comprehensive business planning text valued at $20!

Who Will Benefit

Entrepreneurs, business owners, and potential business owners who are planning to go into business, or have been in business less than three years but have never written a business plan, this workshop is for you.

Kauffman Campus Initiative Participants 8 How You Will Benefit

In this workshop, learn step-by-step how to write your business plan. Discover how to find the information you need, how to target your market, and how to develop financial projections. By the end of the workshop you should have a first draft of your business plan. But most importantly, create a business plan to build your business right and enhance your likelihood of success.

What You Will Learn

What is a Business Plan?

 The components of a business plan  Uses for a business plan  Business description  Preparation for environmental analysis

Competitive Analysis

 Who are your competitors?  What products/services do they provide?  What are their strengths and weaknesses?

Customer Analysis

 Who are your key customers and prospects?  What products/services do they purchase?  How much do they buy?

Internal Analysis

 What are the strengths of your company?  What are the weaknesses of your company?  Key management profiles

Goals and Strategies

 Marketing and operational goals  Marketing/company strategies  Action plans/timetables

Financial Assumptions

 Balance sheet assumptions  Income statement assumptions

Kauffman Campus Initiative Participants 9  Sales and revenue assumptions

Executive Summary

 What it is used for  What to include

Instructor: Joan Gillman (MBA, University of Wisconsin Madison) has extensive experience counseling and teaching small business owners to start and manage their businesses successfully. Joan is the author of the class text: Business Plans That Work.

Limit 30; 1.2 CEU; $199

PROGRAM REGISTRATION

This information will be emailed to the UW-Madison SBDC and processed by the registration office. You should receive a written confirmation/invoice within a week. The confirmation will include an application for parking if you wish to reserve parking for your programs.

If you have questions on how to use this form, call 608/262-8082. If you have any questions regarding your registration or confirmation, please call 608/262-3909.

Please enroll me in the following courses:

For Startup Businesses Small Business: the first step Section 7401 - $35; Monday, Sep. 29 Section 7402 - $35; Tuesday, Nov. 18

Small Business: the fundamentals Section 7405 - $199; Tuesdays and Thursdays, Sep. 23-Oct. 16 Section 7406 - $199; Tuesdays and Thursdays, Oct. 28-Nov. 20

Developing a business plan Section 7407 - $199; Thursdays, Sep. 25-Oct. 23 Section 7408 - $199; Thursdays, Oct. 30-Dec. 4

Small Business Tax Expo (0350) Aug. 27 call 608-262-3909 to register

For Established Businesses Strategic Marketing Series (2400) - $399 (all 4 sessions) or individual sessions:

Kauffman Campus Initiative Participants 10 Marketing: building brand and profits (2401) - $179; Oct. 22, 2003 Secrets of successful direct marketing (2402) - $89; Oct. 29, 2003 Effective marketing communications (2403)- $89; Nov. 5, 2003 Internet marketing: best practices (2404) - $89; Nov. 12, 2003

Customer Service in Today's World (2407) - $399 (all 3 sessions) or individual sessions: Customer service-the NEXT LEVEL (2408) - $179; Oct. 8, 2003 Customer service communication skills (2409) - $179; Oct. 15, 2003 Writing skills for customer service (2410) - $89; Oct. 22, 2003

Human Resource Legal Series (1400) - $240 (all 3 sessions) or individual sessions: Employment: hiring and firing (1401) - $89; Oct. 14, 2003 Writing your employee handbook (1402) - $89; Oct. 21, 2003 Top 10 most common HR mistakes & hot topics (1403) - $89; Oct. 28, 2003

Successful selling (2405) - $265; Oct. 29, Nov. 5, 12, 2003

Successful sales management (2406) - $179; Nov. 18, 2003

Financial Management Series (0351) - $320 (all 4 sessions) or individual sessions: Basics of financial management (0352) - $89; July 29, 2003 Using financial statements (0353) - $89; July 31, 2003 Budgeting & profit planning (0354) - $89; August 5, 2003 Managing cash flow (0355) - $89; August 7, 2003

Financial Management Series (0358) - $320 (all 4 sessions) or individual sessions: Basics of financial management (0359) - $89; Oct. 28, 2003 Using financial statements (0360) - $89; Nov 4, 2003 Budgeting & profit planning (0361) - $89; Nov.. 11, 2003 Managing cash flow (0362) - $89; Nov. 18, 2003

Kauffman Campus Initiative Participants 11 QuickBooks essentials (0356) - $199; Oct. 30, 2003 Using QuickBooks effectively (0357) - $99; Nov. 6, 2003

Internet Business Series (8400) - $320 (all 4 sessions) or individual sessions: Creating a smart “web business plan” (8401) - $89; Oct. 14, 2003 Building an effective web presence (8402) - $89; Oct. 21, 2003 Best tactics for promoting your website (8403) - $89; Oct. 28, 2003 Buying & Selling on eBay (8404) - $89; Nov. 4, 2003

Leadership Solutions Supervisory Leadership Series (5400) - $499/Series (all 3 sessions) or individual sessions: Essentials of leadership & transformational coaching (5401) - $179; Nov. 13, 2003 Communication and delegation skills (5402) - $199; Nov. 20, 2003 Managing conflict (5403) - $179; Dec. 4, 2003

Special Business Programs SHRM learning system (3400) September 3 to November 19, 2003 $995 - SHRM members $1095 - non-SHRM members

Profitable consulting (6401) - $99; Oct. 16, 2003

Project management essentials for small business (6403) - $179; Nov. 13, 2003 Introduction to using Microsoft Project (6404) - $199; Nov. 20, 2003

Voice Power: speak with the voice of authority (6405) - $249; Oct. 23, 2003

Women in Business Programs Perspectives for Success Breakfast Series (4400) - $82.50 (all 4 sessions) or individual sessions: Building high-value professional relationships (4401) - $27.50; Oct. 1, 2003 Three steps to the best work of your life (4402) - $27.50; Oct. 15, 2003 "Coffee, tea, or plug-in adapter?" Are you serving it right? (4403) - $27.50; Oct. 29,

Kauffman Campus Initiative Participants 12 2003 Why did I marry you anyway? (4404) - $27.50; Nov. 12, 2003

Whether you want help with the basic skills of running a business, or need special technical assistance, UW-Madison's Small Business Development Center is your business education resource. We've helped create successful business stories since 1979. Our staff of experienced business professionals teach seminars, answer telephone questions and perform one-on-one counseling for business owners in Dane, Columbia and Sauk counties.

Small Business Answer Line -- Local Madison area: (608) 263-7680 Statewide toll free: (800) 940-7232 Have a specific business-related question? Need to know resources that are available to assist you? Our business counselors answer questions from 8:30 am to 4:30 pm, Monday through Friday, free of charge.

Seminars (608) 263-7680 The UW-Madison SBDC offers a full range of business management seminars for both established businesses and start-up companies. Our seminars offer excellent value; fees cover the cost of materials and instruction. For more information regarding these year-round courses, choose from a link below.

 Start-up Business Solutions  Established Business Solutions  Leadership Solutions  Women in Business  Special Programs

Business Counseling (608) 263-7680 For established businesses that need additional help, you can rely on UW-Madison SBDC Business Counselors. At no charge, our counselors will help you understand how to solve specific business problems or capitalize on business opportunities. UW-Madison SBDC Business Counseling is funded by the Small Business Administration and is free of charge.

For more information write: Small Business Development Center (UW-Madison SBDC) 975 University Ave, Madison 53706 or call (608) 263-7680

Our Mission To enhance the success of small business owners and managers in our three county service area of Dane, Sauk and Columbia counties and encourage growth in our economy.

We strive to achieve this mission by providing practical, customer- focused management education, training, counseling and networking.

Kauffman Campus Initiative Participants 13 Our Vision To be known throughout the business and economic development communities as one of the most innovative and successful programs assisting small business.

The UW-Madison SBDC will be a valuable resource for business, recognized by the business community as a major contributor to the economic health of our service area.

The reputation and excellent work environment of the UW-Madison SBDC will help attract and retain the very best people as service providers and support staff. UW-Madison SBDC services will have a positive impact on all who come in contact with them.

Kauffman Campus Initiative Participants 14 Wake Forest University

Wake Forest is a private Research/Doctoral Extensive University with approximately 6,400 students (12% minority, of which 7% are African American).

The Dean of the College, the Director of Foundation Relations, and the Benson-Pruitt Professor of Business (who is also Director of the new Center for Undergraduate Entrepreneurship), attended the grant conference. The grant press release states:

“Our professional schools and faculty provide a strong foundation in entrepreneurship teaching, research and outreach from which to build a program,” said Wake Forest president Thomas K. Hearn Jr. “We believe Wake Forest possesses a unique ability to develop a model for making entrepreneurship part of the campus culture at a liberal arts university.”

“Page West, Benson-Pruitt Associate Professor of Business and director of Calloway School’s center, says part of the motivation for further development of the university’s entrepreneurial resources is a response to student interests.

I have had students from economics, psychology, physics and the arts come to me for advice about starting up their own new ventures,” said West. “In fact, many entrepreneurial endeavors are centered on the liberal arts disciplines, such as staging a new theater production or museum event, creating public policy to encourage economic development, creating new educational programs targeting at-risk students, or leveraging science research into practical applications. So, entrepreneurship is no longer relegated to business programs alone. Our students from all over campus have a high level of interest and energy in entrepreneurship.

Undergraduate students at Wake Forest have won first place in the Central Atlantic Global Student Entrepreneur Awards twice, in 2001 and 2003. Wake Forest has offered an annual Presidential Scholarship in entrepreneurship since 1987.”

WFU has a wide variety of entrepreneur-related activities in both the Calloway School of Business and Accountancy (BS, and one MS degree programs) and the Babcock Graduate School of Management, which houses the Angell Center for Entrepreneurship.

The university’s new Center for Undergraduate Entrepreneurship (to be launched in Fall 2003) will be housed at the Calloway School. The center will target the many undergraduates in the natural sciences, information systems, and computer science who are also interested in learning how to start new ventures that leverage their disciplinary training. They will receive formal education in intellectual property, venture capital, inventing, and entrepreneurship as well as problem-solving and team-building. Partnered with business students trained in entrepreneurial education, they will form E-teams that will develop new ventures based on scientific inventions.

The Babcock School is internationally recognized for the quality of its entrepreneurial programs:

Kauffman Campus Initiative Participants 15  Academic Program The Babcock School offers a primary and secondary concentration in entrepreneurship. Among the 17 course offerings are: New Venture Creation, Family Business Dynamics, Fast-Growth Management, Business Plan Practicum, Financing the Entrepreneurial Venture, New Product Introduction, Business-to-Business Marketing, Internet Marketing, Principles of E-Business, and Value Creation. More than 90% of all full-time students take one of these entrepreneurship electives and more than 70% take two or more. Faculty who teach these courses come from a diverse group of 15 full-time, part-time and executive faculty.

 Funding Entrepreneurship Primary endowment funding for the Angell Center comes from Winston-Salem area entrepreneur Don Angell and the Angell Foundation. Significant program funding comes from the Ewing Marion Kauffman Foundation and the Price Institute for Entrepreneurial Studies.

 Summer Entrepreneurial Internships Internships provide students with first hand experience by allowing them to work directly with entrepreneurs and venture capitalists. In 2001, Babcock added three internships within the social entrepreneurship domain. Interns receive course credit upon completion of an original teaching case with teaching notes based on their experience — a requirement that helps students bridge the theory-to- practice gap that can exist in MBA programs. Funding is provided through company support and by contributions from the Price Institute for Entrepreneurial Studies, the Angell Foundation and the Ewing Marion Kauffman Foundation. Program participation has grown to 16 interns and five faculty advisors.

 Family Business Center This program is one of the most successfully launched university-based family business centers. Participation includes five sponsoring organizations and 30 member companies representing more than 100 family members. Each year, the Family Business Center holds six or more programs that help our members create stronger families and more successful businesses. Recently, affinity roundtables were created to help participants explore in greater depth issues faced by senior generation and junior generation family members.

 Babcock Elevator Competition This exciting national business plan competition literally takes student entrepreneurs literally from the ground floor to the boardroom. Staged at Wachovia Bank, teams present their plans to venture capitalists during two, two-minute elevator rides. The top six teams advance to full presentations made to an expanded group of venture capitalists. Winners receive a return trip to present their plans to a venture capital partnership group appropriate for their venture funding. More than 25 teams competed in the 2001 event.

 KACE Competition The Kauffman/Angell Center for Entrepreneurship National Case- Writing Competition is an outgrowth of Babcock's successful teaching case competition. Students prepare original teaching cases with teaching notes based on their summer internships. The inaugural competition, funded by the Ewing Marion Kauffman Foundation, was held in January 2001. Participating schools included Harvard, Northwestern, Notre Dame, Chicago, Michigan, Nebraska and Wake Forest. The winning

Kauffman Campus Initiative Participants 16 case was from Northwestern. The competition was the winner of the Irwin-McGraw-Hill Innovation in Entrepreneurship Pedagogy Award, presented by the Academy of Management.

 Medical Technology Transfer This program includes summer entrepreneurial internships (11 in last three years), Management Consulting Practicum projects (8 in last three years) and special initiatives such as FastTrac Tech (a 12-week program for individuals who want to launch new technology-based ventures). The Angell Center's relationship with the WFU Office of Technology Asset Management is excellent, and we continue to intensify our contributions to the commercialization of their inventions.

 Babcock Entrepreneurial Fellows Fellows are 30 professional (or "serial") entrepreneurs, venture capitalists, angel investors, service providers and chief executive officers. Fellows support the mission of the Angell Center by:  Enabling entrepreneurs and service providers to support specific Angell Center initiatives.  Serving as a resource for classroom discussions and student-focused activities.  Supporting (as mentors, advisers, investors, etc.) students, alumni, and individuals who are embarking on entrepreneurial activities. During 2000-2001, Fellows contributed by:  Playing an integral role in the start-up of two student-led and three alumni-led organizations  Serving as mentors to more than 50 students  Participating in 33 classes as visiting lecturers  Offering their organizations as sites for 13 entrepreneurial internships  Judging business-plan and case-writing competitions  Team teaching a course in entrepreneurship

 Babcock Entrepreneurs More than one-third of Babcock's full-time students are members of this student organization. Activities are extensive and include Babcock Entrepreneur's Roundtable, speaker series, company visits, attendance at conferencesand participation in venture capital competitions. The Angell Center provides financial support from funds received through a Small Business and Technology Development grant.

 Fast Trac Tech This 12-week program was designed by the Council for Entrepreneurial Development for individuals who want to launch new technology-based ventures. Attendance has included employees, students and faculty from Wake Forest University Baptist Medical Center, R.J. Reynolds Tobacco Company and Procter and Gamble. Classes were held at Babcock and led by area entrepreneurs, medical school personnel, service providers, Babcock Entrepreneurial Fellows and executive/adjunct faculty.

 Triad Entrepreneurial Initiative The Winston-Salem Alliance is providing $1.1 million during the next three years to fund a comprehensive program to develop an entrepreneurial culture within the North Carolina Piedmont Triad (Winston-Salem,

Kauffman Campus Initiative Participants 17 Greensboro, High Point). The Angell Center plays a significant role in this initiative by providing educational, mentoring and incubation programs for nascent entrepreneurs.

 Venture capital and angel investor projects. We provide student assistance to angel investor groups, North Carolina venture capital firms and their portfolio companies. This initiative has resulted in projects that offer great experience for students to interact with high-tech businesses and their financial backers.

New Initiatives:  Babcock Demon Incubator The incubator's mission is to foster entrepreneurial education at Wake Forest and an entrepreneurial spirit in the Triad by providing personalized services and relationships to growth-oriented, early stage ventures. The incubator offers office space and Internet access for growing businesses. It will house three to five start-up businesses, with tenants admitted on a rolling basis throughout the year. Each business that enters the incubator will have approximately 12 months to grow and find a permanent location. The goal for the incubator is to launch businesses that have the potential to create significant economic impact in the Triad through jobs and business investment. Among the businesses to be housed in the incubator will be winners of the Triad Entrepreneurial Initiative's annual business plan competition.

 National Consortium of Entrepreneurship Centers The Angell Center will coordinate and host the national director's conference in September 2001. The consortium's purpose is to expand the domain of entrepreneurship through cooperation among university-based programs.

 Social Entrepreneurship Initiative This innovative program will harness the resources of the Wake Forest University in partnership with local non-profit agencies to build bridges in the Winston-Salem community. Social entrepreneurship programs will enhance the ability of local nonprofit organizations to be innovative in serving their constituencies.

This spring, Entrepreneur magazine ranked the Babcock School among the nation’s top 12 entrepreneurship programs and first among entrepreneurship faculty. The Kauffman Foundation has awarded WFU a number of grants in the last two years, including $47,300 to the Calloway School to support development of the Center for Undergraduate Entrepreneurship; $35,000 to support the Entrepreneur Internship Program; a National Consortium for Life Science Entrepreneurship, and an additional $10,000 grant to support internship activities. Wake Forest is currently in the midst of a $600 million capital campaign. Last November, John Chambers, president and CEO of CISCO systems, donated $1 million to the university to aid student entrepreneurial endeavors in e-commerce and the Internet.

Babcock Graduate School of Management – MBA

Programs

Kauffman Campus Initiative Participants 18 Academic Program The Babcock School offers a primary and secondary concentration in entrepreneurship. Among the 17 course offerings are: New Venture Creation, Family Business Dynamics, Fast-Growth Management, Business Plan Practicum, Financing the Entrepreneurial Venture, New Product Introduction, Business-to- Business Marketing, Internet Marketing, Principles of E-Business, and Value Creation. More than 90% of all full-time students take one of these entrepreneurship electives and more than 70% take two or more. Faculty who teach these courses come from a diverse group of 15 full-time, part-time and executive faculty.

Funding Entrepreneurship Primary endowment funding for the Angell Center comes from Winston-Salem area entrepreneur Don Angell and the Angell Foundation. Significant program funding comes from the Ewing Marion Kauffman Foundation and the Price Institute for Entrepreneurial Studies.

Summer Entrepreneurial Internships Internships provide students with first hand experience by allowing them to work directly with entrepreneurs and venture capitalists. In 2001, Babcock added three internships within the social entrepreneurship domain. Interns receive course credit upon completion of an original teaching case with teaching notes based on their experience — a requirement that helps students bridge the theory-to-practice gap that can exist in MBA programs. Funding is provided through company support and by contributions from the Price Institute for Entrepreneurial Studies, the Angell Foundation and the Ewing Marion Kauffman Foundation. Program participation has grown to 16 interns and five faculty advisors.

Family Business Center This program is one of the most successfully launched university-based family business centers. Participation includes five sponsoring organizations and 30 member companies representing more than 100 family members. Each year, the Family Business Center holds six or more programs that help our members create stronger families and more successful businesses. Recently, affinity roundtables were created to help participants explore in greater depth issues faced by senior generation and junior generation family members.

Babcock Elevator Competition This exciting national business plan competition literally takes student entrepreneurs literally from the ground floor to the boardroom. Staged at Wachovia Bank, teams present their plans to venture capitalists during two, two-minute elevator rides. The top six teams advance to full presentations made to an expanded group of venture capitalists. Winners receive a return trip to present their plans to a venture capital partnership group appropriate for their venture funding. More than 25 teams competed in the 2001 event. KACE Competition The Kauffman/Angell Center for Entrepreneurship National Case-Writing Competition is an outgrowth of Babcock's successful teaching case competition. Students prepare original teaching cases with teaching notes based on their summer internships. The inaugural competition, funded by the Ewing Marion Kauffman Foundation, was held in January 2001. Participating schools included Harvard, Northwestern, Notre Dame, Chicago, Michigan, Nebraska and Wake Forest. The winning case was from Northwestern. The competition was the

Kauffman Campus Initiative Participants 19 winner of the Irwin-McGraw-Hill Innovation in Entrepreneurship Pedagogy Award, presented by the Academy of Management.

Medical Technology Transfer This program includes summer entrepreneurial internships (11 in last three years), Management Consulting Practicum projects (8 in last three years) and special initiatives such as FastTrac Tech (a 12-week program for individuals who want to launch new technology-based ventures). The Angell Center's relationship with the WFU Office of Technology Asset Management is excellent, and we continue to intensify our contributions to the commercialization of their inventions.

Babcock Entrepreneurial Fellows Fellows are 30 professional (or "serial") entrepreneurs, venture capitalists, angel investors, service providers and chief executive officers. Fellows support the mission of the Angell Center by: Enabling entrepreneurs and service providers to support specific Angell Center initiatives. Serving as a resource for classroom discussions and student-focused activities. Supporting (as mentors, advisers, investors, etc.) students, alumni, and individuals who are embarking on entrepreneurial activities. During 2000-2001, Fellows contributed by: Playing an integral role in the start-up of two student-led and three alumni-led organizations Serving as mentors to more than 50 students Participating in 33 classes as visiting lecturers Offering their organizations as sites for 13 entrepreneurial internships Judging business-plan and case-writing competitions Team teaching a course in entrepreneurship

Babcock Entrepreneurs More than one-third of Babcock's full-time students are members of this student organization. Activities are extensive and include Babcock Entrepreneur's Roundtable, speaker series, company visits, attendance at conferencesand participation in venture capital competitions. The Angell Center provides financial support from funds received through a Small Business and Technology Development grant. Fast Trac Tech This 12-week program was designed by the Council for Entrepreneurial Development for individuals who want to launch new technology-based ventures. Attendance has included employees, students and faculty from Wake Forest University Baptist Medical Center, R.J. Reynolds Tobacco Company and Procter and Gamble. Classes were held at Babcock and led by area entrepreneurs, medical school personnel, service providers, Babcock Entrepreneurial Fellows and executive/adjunct faculty. Triad Entrepreneurial Initiative The Winston-Salem Alliance is providing $1.1 million during the next three years to fund a comprehensive program to develop an entrepreneurial culture within the North Carolina Piedmont Triad (Winston-Salem, Greensboro, High Point). The Angell Center plays a significant role in this initiative by providing educational, mentoring and incubation programs for nascent entrepreneurs. Venture capital and angel investor projects. We provide student assistance to angel investor groups, North Carolina venture capital firms and their portfolio companies. This initiative has

Kauffman Campus Initiative Participants 20 resulted in projects that offer great experience for students to interact with high-tech businesses and their financial backers.

New Initiatives:

Babcock Demon Incubator The incubator's mission is to foster entrepreneurial education at Wake Forest and an entrepreneurial spirit in the Triad by providing personalized services and relationships to growth- oriented, early stage ventures. The incubator offers office space and Internet access for growing businesses. It will house three to five start-up businesses, with tenants admitted on a rolling basis throughout the year. Each business that enters the incubator will have approximately 12 months to grow and find a permanent location. The goal for the incubator is to launch businesses that have the potential to create significant economic impact in the Triad through jobs and business investment. Among the businesses to be housed in the incubator will be winners of the Triad Entrepreneurial Initiative's annual business plan competition.

National Consortium of Entrepreneurship Centers The Angell Center will coordinate and host the national director's conference in September 2001. The consortium's purpose is to expand the domain of entrepreneurship through cooperation among university-based programs. www.NationalConsortium.org Social Entrepreneurship Initiative This innovative program will harness the resources of the Wake Forest University in partnership with local non-profit agencies to build bridges in the Winston-Salem community. Social entrepreneurship programs will enhance the ability of local nonprofit organizations to be innovative in serving their constituencies.

Entrepreneurship Traditional entrepreneurship programs focus attention on preparing students to launch their own businesses after graduation. We find that emphasis is too confining for our students, and we define entrepreneurial education broadly to include many career paths—new business ventures, corporate ventures within existing companies, service providers (venture capitalists, consultants, attorneys) working with new ventures, social entrepreneurship within the nonprofit sector, and family and closely-held businesses.

Almost every Babcock student benefits from taking one or more courses in entrepreneurship. Learn to view the world as a series of opportunities. Develop your own model to help you evaluate opportunities regardless of the setting. Be prepared to take action by knowing how to build, develop and manage your own new-venture team. These are exciting times in which we live. Prepare yourself for the opportunities.

Required Courses: Business Plan Practicum or Management Consulting Practicum Starting a new venture is risky and often ends in failure. An effective tool for entrepreneurs who want to reduce risks and better ensure success is a convincing business plan. A business plan serves two purposes. It acts as a roadmap for managers and helps to secure financing. This

Kauffman Campus Initiative Participants 21 course focuses on the critical components of a business plan. The major course assignment is to prepare a business plan for a business opportunity chosen by the student.

Entrepreneurship One of the following:

Family Business Dynamics If you are not directly involved in your own family's business, most likely you will be as a professional manager, accountant, lawyer, psychologist or employee. This course explores the business, personal and interpersonal issues associated with a family-owned and managed company. We examine such issues as (1) your role in a family business, (2) strategic family and business planning, (3) succession planning, (4) family business conflict resolution and (5) estate planning.

Fast-Growth Management The most challenging, exciting, and rewarding experiences for the entrepreneur is the growth of her/his new venture. However, achieving operational success poses daunting challenges to your management and analytical skills. This course first helps students to learn to anticipate the challenges that entrepreneurial companies face during periods of fast growth. The course also provides students with concepts, techniques, and skills needed to respond to the challenges of managing fast growth. It is intended for students interested in start-up companies, as well as new business ventures within existing organizations.

Financing the Entrepreneurial Venture New venture formation and small business have been major forces in the growth and vitality of the global economy, and the flow of innovation and new jobs. This course is about financing high potential ventures. Specific topics include (1) techniques for evaluating new venture opportunities, (2) strategies of starting versus buying an existing firm, (3) valuation of closely held companies, (4) venture capital and other financing sources, (5) aspects of organizational form, taxes, and securities regulations, (6) techniques of structuring and negotiating a deal, and (7) ethical issues. Students study a variety of businesses through readings, case studies and guest lectures.

New Product Introduction This course gives students hands-on experience in the process by which new consumer products are introduced and marketed. Instructors provide the new product idea. Beginning with research to identify a viable target segment and a positioning strategy, students proceed from the estimation of sales and profit potential to the development of a marketing plan. The instructors, who include professional advertising and brand management practitioners, function as management consultants. Students work in teams to prepare short oral and written reports of weekly progress. The course ends with team presentations to a "board of directors" composed of managers and executives from local companies.

Recommended Electives:

Kauffman Campus Initiative Participants 22 Advertising Management MBA students whose career plans involve making marketing-mix decisions need to understand advertising management. In addition to advertising, this course addresses elements of a marketing communications program such as promotions, direct mail, publicity, packaging, and point of sale material. The objectives are: (1) to increase students' understanding of important issues in planning and executing marketing communications campaigns; (2) to introduce students to theories and models that will improve their abilities to make marketing communications decisions; and (3) to acquaint students with contemporary research in marketing communications.

Business-to-Business Marketing This course encompasses management activities that enable a supplier firm to understand, create and deliver value to other businesses, governments and institutional customers. There are four guiding principles of business-to-business marketing: make value the cornerstone, focus on business processes, emphasize doing business across borders, and accentuate working relationships and business networks. This course provides students with a basic understanding of the concepts of business-to-business marketing. It helps them develop critical analysis and problem-solving abilities with respect to business market management. Classes are set in a seminar format, featuring the discussion of articles and analyses of management cases.

Internet Marketing

Marketing Research This course includes topics such as information systems, syndicated data services, secondary and primary data collection, and data analysis and interpretation. Student groups follow the process of developing, implementing, and managing a market research project. Particular emphasis is placed on projects involving primary data collection.

Marketing Strategy & Planning This is a decision-oriented course concerned with solutions to problems of product, price, promotion, and distribution channels. Students are expected to locate their own marketing plan projects and to prepare a professional marketing plan. The course makes extensive use of case studies and instructional methods include slides, examples, and videotapes.

Operations Strategy This course deals with ways of understanding a firm's operations strategy in the context of how it affects other functional areas and the firm as a whole. It provides exposure to the concepts of operations strategy and how operations strategy is used as a competitive weapon. Specific topics include capacity strategies, technology strategies, vertical integration and sourcing strategies, facilities strategies, matching process technology with product/market requirements, and building the competitive potential of the operations function in an organization.

Principles of E-Business

Kauffman Campus Initiative Participants 23 Project Management This course investigates the increasing use of projects and the unique style of administration required to manage them. Projects considered include R&D studies, campaigns, construction and emergency operations. Topics include the selection of projects, creativity and technological forecasting, the role of the project manager, how to organize and plan a project, negotiation and conflict resolution, budgeting and cost estimation, project scheduling (PERT/CPM), resource allocation among multiple projects, project monitoring and information systems, controlling projects, auditing projects, ways of terminating projects, and running projects in multi-cultural settings.

Value Creation Value creation, in the context of financial management, is the process by which companies earn returns on the capital invested in excess of the cost of that capital. A manager's financial goal is to maximize the creation of economic values. This course explores operating and financial strategies for creating value and links those strategies to valuation models for planning and controlling results. Three prominent models are used to compute valuations including EVA, CFROI and the Ferner Model. Readings are assigned from such well-known authors as William Fruhan, Alfred Rappaport, and Bennett Stewart, author of Quest for Value, the text used in this course.

Other Entrepreneurship Courses Offered

Entrepreneurship & Venture Formation During the past several decades entrepreneurship has taken an elevated role throughout the world. Eastern Europe, for example, views the revitalization of entrepreneurship as crucial to establishing a free market economy. This course explores key characteristics of the entrepreneur and contrasts these characteristics to those of a manager of a large bureaucratic organization. Who is the entrepreneur? How does one become a successful entrepreneur? How can the entrepreneurial spirit remain viable in established organizations? How does one manage the growth phases of an entrepreneurial firm? Students consider these issues through the writings of important authors, discussion with visitors, and case analysis involving of successful and unsuccessful entrepreneurs.

Financing The Entrepreneurial Venture New venture formation and small business have been major forces in the growth and vitality of the global economy, and the flow of innovation and new jobs. This course is about financing high potential ventures. Specific topics include (1) techniques for evaluating new venture opportunities, (2) strategies of starting versus buying an existing firm, (3) valuation of closely held companies, (4) venture capital and other financing sources, (5) aspects of organizational form, taxes, and securities regulations, (6) techniques of structuring and negotiating a deal, and (7) ethical issues. Students study a variety of businesses through readings, case studies and guest lectures.

Entrepreneurship

Kauffman Campus Initiative Participants 24 Entrepreneurship is an eclectic field, drawing from such areas as strategy, economics, psychology, and business functional domains (marketing, finance, and operations). Entrepreneurs are concerned with the relentless pursuit of opportunities and the goal of this course is to teach students to identify and act on new opportunities. By the conclusion of this course, students should understand their potential roles as entrepreneurs and have the skills to systematically analyze new opportunities for commercialization.

Product/Service Innovation Management II This course focuses on innovation in both services and manufacturing, and the role of technology in innovation. The course is based on the premise that the provision of better products and services will be a growing source of global competitive success. Topics may include product/service strategy, the acquisition and transfer of technology, protection of intellectual property, product/service development and launch, entrepreneurship and intrapreneuring, and the integration of innovation with technology and marketing.

Faculty

Bernard L. Beatty Associate Professor of Management. BS, Ohio State University; MBA, DBA, Harvard University. CPA, CMA, CIA, CFE. Dr. Beatty's research and teaching interests are in entrepreneurship, control and the implementation of strategy. He also studies international cases dealing with general management. He is a forensic accountant, and has been named Babcock Educator of the Year five times

Jack D. Ferner Lecturer of Management. BA, University of Rochester; MBA, Harvard University. CMA. Mr. Ferner teaches courses in entrepreneurship, finance, accounting and strategy. He is a valuation expert of small businesses, intellectual property and antitrust damages. He is the author of Successful Time Management and serves on the editorial board of the Case Research Journal. Mr. Ferner also is a director of TempGuard and is a strategic planning consultant for Garner Food Co., The Children's Home, Thermaco and others. He is a past recipient of the Babcock Educator of the Year award

Stanley W. Mandel Director of the Angell Center for Entrepreneurship and Executive Professor. BSME, Tulane University; MBA, Northwestern University; PhD, Texas Tech University. CPA. PE. Dr. Mandel's teaching and research interests include entrepreneurship, strategy and family business. He has participated in the start-up of several organizations within the retail, financial services, health-care, consulting and nonprofit sectors. Dr. Mandel also advises and serves on the boards of many student- and alumni-led start-up companies involving electronic commerce, biotechnology, venture capital and retail services

Tom L. Ogburn Jr. Director of the Angell Center for Entrepreneurship's Family Business Center and Executive Professor of Management. BA, Davidson College; MBA, University of North Carolina at Chapel Hill.

Kauffman Campus Initiative Participants 25 Mr. Ogburn's academic interests include strategy, marketing, entrepreneurship and family business. He was vice president of public issues and served in a number of domestic and international marketing and marketing research positions during a 25-year tenure with R.J.Reynolds Tobacco Co. He is president of The Ogburn Group Inc. and Tom Ogburn Creations and is a founding partner of Teachers at Play LLC.

Kauffman Campus Initiative Participants 26 Washington University in St. Louis

WU is a Doctoral/Research Extensive private university with approximately 12,700 students (27% minority or foreign students).

The Director of Foundation Relations, the Chancellor, and the Director of the Skandarlaris Entrepreneurship Program at the Olin School of Business attended the proposal conference. The university press release states:

“The Kauffman Campuses Initiative provides us with an outstanding opportunity to build upon the strengths of our entrepreneurship initiatives which were created through the generous investment of Robert and Julie Skandalaris," Wrighton noted. Several components of the Skandalaris Entrepreneurship Program have been funded through an endowed gift from the Skandalarises.”

The following activities currently form the foundation of the Olin Entrepreneurship experience.

 Introduction to Entrepreneurship - “The Startup Game” - Provides an overview of the scope and knowledge needed for entrepreneurship and introduces a framework for identifying and developing new ventures into high growth ventures. The structure of the course follows the evolutionary process of the new venture: idea assessment, formation of the entrepreneurial organization, entrepreneurial finance, and transformation into a high growth venture. This is a course for credit towards a degree.

 Venture Capital and Private Equity - Discusses how private equity funds are raised and structured and how private equity investors analyze investment opportunities, interact with the management of the companies they finance and exit investments. This is a course for credit towards a degree.

 The Business Plan and Venture Capital - “The Hatchery” - Teams of students work on their own idea or one from an outside entrepreneur to write business plan capable of presentation to investors and venture capitalists. Lectures, guest speakers and mentors aid the teams along the process. This is a course for credit towards a degree.

 Executive MBA - Introduction to Entrepreneurship - This is a six-session course that provides an overview of the early stages of the business start-up cycle. The course allows students to integrate and practically apply much of what they have learned in their other courses at Olin, including accounting, finance, marketing, strategy, economics, organizational behavior, and operations. The course is both case and experiential in its approach, with the aim to have team dynamics support the four major goals for the course: To identify characteristics for promising start-up industry environments and markets, to understand the process of early stage company formation and some of the options open to founders, to understand some of the team dynamics and behaviors that might occur in a startup, and to experience the process of fund raising between investors and early stage companies.

Kauffman Campus Initiative Participants 27  Accelerating Company Formation - Combines many aspects of the Startup Game and Hatchery courses to provide a framework that accelerates the enterprise development process. Open to external clients, this course is geared toward individuals, teams and service professionals interested in company formation, funding and growth. Customized courses are also available.

 Entrepreneurial Internship Program - This program, initially subsidized by the Kauffman foundation, allows students to learn and gain experience in an entrepreneurial setting, and offers the startup a contributing employee without adding a financial strain to the organization.

WU is ranked by Entrepreneur Magazine as one of the top 25 programs in the nation. WU has received an Entrepreneur Internship Program Renewal grant, a National Consortium for Life Science Entrepreneurship grant, and an Entrepreneur Internship Program Social and Traditional grant from the Kauffman Foundation in the last two years.

Entrepreneurship Washington University in St. Louis is selected to participate in Kauffman Campuses Initiative to expand entrepreneurship education across campus July 30, 2003 — Washington University is among 15 universities across the country selected by the Ewing Marion Kauffman Foundation of Kansas City, Mo., to participate in the Foundation's Kauffman Campuses Initiative, a new program aimed at making entrepreneurship education a common and accessible campus-wide opportunity. The new Kauffman program builds on an emerging trend among colleges and universities to expand entrepreneurship education beyond business schools so that entrepreneurship training and experiences are available across the University's schools and academic departments and to students of diverse disciplines.

Olin School of Business launches "Olin Cup" entrepreneurship competition at Washington University in St. Louis; emphasis on life sciences, medicine, technology start-ups

Contact: Robert Batterson (314)935-5202; [email protected] St. Louis, MO., March 28, 2003

The Olin School of Business has launched its new "Olin Cup" entrepreneurship competition with an emphasis on life sciences, medicine, and technology start-ups, as well as other student started ventures. Start-up companies will vie for $70,000 in seed capital funding for their new businesses. Entrepreneurs and students can now review the program guidelines and register for the competition online at: http://www.olin.wustl.edu/cel/olinCup/register.cfm. The business school's Skandalaris Entrepreneurship Program sponsors the competition.

Ken Harrington, director of the Skandalaris Entrepreneurship Program at the Olin School of Business, says that one of the primary goals of the new Olin Cup competition is "cross-campus collaboration" between the top-ranked business and medical schools at Washington University and among the vibrant and diverse business community leaders in the St. Louis area. St. Louis is becoming known for the growth of its burgeoning life and plant sciences industries, spurred on by the region's new Danforth Plant Sciences Center and Washington University, as well as

Kauffman Campus Initiative Participants 28 expansion of the world famous Missouri Botanical Garden.

"We're looking to create an open forum for team formation," says Harrington. "A business start- up idea can be submitted from anywhere in the University or community and funding will be made available to teams having only one Olin student or recent alumnus on the team. But we are also actively searching for sponsors and corporate partners who are interested in the promotional aspects of our program, including prominent representation on the new Olin Cup website."

This year, the new Olin Cup competition will award seed funding to the winning teams in two divisions. $50,000 will be awarded for "high opportunity ventures" (businesses with the potential to be venture-capital funded) and $20,000 for "bootstrap ventures" (businesses started primarily by customers quickly adopting a new product).

Judges and team mentors for the Olin Cup competition will be selected from the St. Louis community as well as nationally, Harrington says, and will be matched with Olin's business school teams.

"The new Olin Cup competition will also be a great forum for local business incubators to direct people with immature business plans submitted to them," says Harrington. "Start-up companies can use this as a way to both refine plans and fill out their teams."

The annual Olin Cup Competition was founded in 1987 at the Washington University business school and to date has resulted in the formation of over 56 new businesses by Olin business students. There are currently over 60 colleges and universities in the United States hosting business plan competitions.

Editors Note: The Olin School's Skandalaris Entrepreneurship Program is one of the Top 25 business school entrepreneurship programs nationwide, based upon Entrepreneur Magazine's comprehensive rankings. In addition, it is a member of the Kauffman Foundation National Consortium for Life Science Entrepreneurship.

Number of students studying entrepreneurship triples at Olin School of Business at Washington University in St. Louis Media assistance: Robert Batterson - (314) 935-5202 Source: Kenneth A. Harrington's Web page - (314) 935-4512 [St. Louis, Mo., April 2002] - Since the year 2000, the number of students studying in the entrepreneurship program at the Olin School of Business at Washington University in St. Louis has tripled under a major expansion of the program. Some 450 Olin undergraduate and MBA students now participate in the program - up from just 150 in the program two years ago. A major reason for the increase is the school's Skandalaris Program in Entrepreneurial Studies established last year. Kenneth A. Harrington is the director of the program.

Harrington has jump-started the entrepreneurship program by expanding the number of internships at local start-ups, increasing the number of course offerings, adding more events - like venture capital forums - and doubling the number of the Olin School's "Hatchery" projects, where teams of Olin students work with outside entrepreneurs to develop new business plans.

Kauffman Campus Initiative Participants 29 The program has also received a substantial infusion of cash to support entrepreneurship projects, including a major gift of $3 million from Robert and Julie Skandalaris in 2001.

Just some of the student entrepreneurship projects under way at Olin this spring include:

"Luminomics" - a company formation of four Olin MBAs and Washington University genetic researchers focused on generating animal models for heritable human diseases;

"Memory Search" - that teams three Olin MBAs and the Washington University Center of Technology Management (CTM), in conjunction with four engineering school professors, to investigate the best direction for commercializing and deploying patent-pending technology that substantially shortens the data retrieval time for disk drives; and

"Drug Delivery Technology" - teaming three Olin MBA students with a Washington University Medical Center researcher to develop potential applications and delivery of new medications.

Harrington says that Olin is committed to making its entrepreneurship program one of the finest in the country and plans to focus on life sciences and technology. He brings a wealth of experience to Olin with over 25 years in the telecommunications and information technology industries. Previously, Harrington was a senior executive for five start-up companies and has been actively involved with turn-around and roll-up consolidations in the technology industry. He holds an MBA from the Wharton School at the University of Pennsylvania.

Computer Science and Engineering

A key trait of our department is its focus on interdisciplinary studies and collaborations. We foster an environment that encourages idea sharing, values the efforts of every individual, and offers personal attention. You'll also discover a spirit of entrepreneurship in our department: Working on projects that push the technology envelope has prompted many of our students to become involved with, or actually lead, successful start-up companies and openly share their research. We select faculty for their expertise, as well as for their enthusiasm for research, and their interest in teaching and mentoring.

BSBA Courses MGT 400K: Introduction to Entrepreneurship (The Start-Up Game) This course covers the life dynamics surrounding the early stages of starting a business. Based upon a series of "experiential simulations," students will be involved in both individual and team competitive gamesmanship situations that replicate real world start-up environments. Students will learn to identify characteristics of promising start-up industry environments and markets; to understand the process of early stage company formation and some of the options open to founders; to understand some of the team dynamics and behaviors that might occur in a startup and to have some fun. Prerequisites: junior or senior standing with priority given to seniors and permission of instructor.

MGT 431: The Business Plan and Venture Capital (The Hatchery) Working in teams of three to four students, a business plan for a new business idea or a business

Kauffman Campus Initiative Participants 30 seeking expansion will be written. Students work on ideas of their own, or those of an outside entrepreneur. Students present and defend the plan to the entrepreneur (where applicable) and to the Hatchery Advisory Board at the end of the semester. Prerequisite: BSBAs with junior standing.

MBA/PMBA Core Courses: A concentration track in entrepreneurship may be followed by completing 9 semester credit hours, 4.5 hours of which must be in the following courses:

MGT 500K: Introduction to Entrepreneurship (The Start-Up Game) This course provides an overview of the scope of knowledge and activities needed for entrepreneurship, and introduces a framework for identifying and developing ideas into high growth ventures. The structure of the course follows the evolutionary process of a new venture: idea assessment, forming the entrepreneurial organization, entrepreneurial finance and transitioniing to the high growth enterprise. The course is designed for students who are interested in understanding entrepreneurship, forming companies or investing in startup ventures. Even if the student is not interested in starting a venture of his or her own, understanding the entrepreneurial process will enhance productivity even in large organizations. This course is strongly recommended for students interested in participating in the Hatchery, since it provides an opportunity to conduct a feasibility analysis of the idea and to form a team to pursue the idea further in the Hatchery. Students may not receive credit for both this course and MGT 514A.

MGT 531: The Business Plan and Venture Capital (The Hatchery) In the "Olin Hatchery" course, students write a business plan and present it to a panel of investors and venture capitalists. Students may work on ideas of their own or those of an outside entrepreneur. Students may work in teams of up to four students. Students working on their own idea must get written permission of the instructor in order to enroll. Most of the work will be done independently. There will be several workshops on various aspects of writing a business plan: venture capital, marketing, and communication and presentation skills. These seminars will be taught by practitioners and faculty. In addition, each team will also be assigned a mentor from the business community. Students will be required to meet with the instructor at regular intervals for progress reports and consultation. Grades in the class will be based on the quality of the business plan analysis and the written and oral presentations. The class is open to sophomore (permission of instructor required), junior and senior BSBAs and first and second year MBAs.

FIN 531: Venture Capital and Private Equity Private equity funds are an important source of financing for new ventures and buyouts of established companies. Asymmetric information and the need for monitoring and control are among the reasons private equity has evolved as a substitute for other financing sources, such as bank loans and public debt and equity issues. This course will discuss how private equity funds are raised and structured and how private equity investors 1) analyze investment opportunities, 2) interact with the managements of the companies they finance, and 3) exit investments. Students will be expected to have some proficiency in financial valuation. Prerequisite: completion of at least one of the following: FIN 523, FIN 549F, FIN 523B, Financial Statement Analysis or consent of the instructor.

Kauffman Campus Initiative Participants 31 EMBA Courses MGT 719A, MGT 919H: Entrepreneurship Examines the concept of entrepreneurship as both a set of personal behaviors that can be implemented in creating and sustaining new business ventures as a sole proprietor or as an effective leader inside an established corporation. Also reviews the whole set of issues inherent in any entrepreneurial area. Analyzes problems and considerations involved in establishing, planning, organizing, and operating new business ventures.

MBA Concentration Track In addition to the core courses above, students must complete 4.5 hours in the following courses to follow an entrepreneurship concentration track. Course descriptions may be found on Elective Course Descriptions (*PDF 98k).

 Entrepreneurship (MGT 514A) - 3.0 hours  Electronic Commerce and Internet Marketing (MKT 500A) - 1.5 hours  New Product Strategies (MKT 553B) - 1.5 hours  Compensation and Incentives (MEC 532) - 1.5 hours  Intellectual Property Law (MGT 500B) - 1.5 hours  Managing Technological Innovation and Growth (MGT 500I) - 1.5 hours  Negotiation and Conflict Management (OB 561) - 1.5 hours

Kauffman Campus Initiative Participants 32