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High Growth Student Startups at US Colleges and Universities Campus as Frontier: High Growth Student Startups at US Colleges and Universities A dissertation submitted in partial fulfillment of the requirements for the degree of Doctor of Philosophy at George Mason University By David J. Miller International Master of Business Administration University of Chicago, 2001 Master of Science School of Oriental and African Studies, University of London, 1996 Bachelor of Arts University of Michigan, 1995 Director: Zoltan J. Acs, Professor School of Public Policy Summer Semester 2015 George Mason University Arlington, VA Copyright 2015 David Joshua Miller All Rights Reserved ii DEDICATION This is dedicated to my family. iii ACKNOWLEDGEMENTS George Mason University, a young university, has attracted a great many talented people in its short existence and I have benefited directly. Richard Florida and Roger R. Stough were invaluable in my understanding of place, innovation and entrepreneurship. A. Lee Fritschler has been a trusted guide through US higher education. Zoltan J. Acs, my chair, has challenged and supported this research from the beginning and has been central to its evolution and completion. The broader faculty, including Connie McNeely, Janine Wedel, Phil Auerswald, David Hart, and others offered a variety of perspectives from which to explore entrepreneurship at US colleges and universities. Moreover, the open, innovative culture across Mason and the DC region has allowed me to share my ideas, data, and findings with students, faculty, alumni and others. Student entrepreneurs, faculty, program administrators, alumni, and supporters at US colleges and universities are the topic of this research and their openness and willingness to discuss and share their experiences have been all important to this work. Lastly, deep gratitude is due to my family for their perpetual support of education and its pursuit. My wife has borne the weight of much of this journey and made the completion of this research possible and fun at the same time. iv TABLE OF CONTENTS Page List of Tables ................................................................................................................... viii Abstract .............................................................................................................................. ix Chapter 1: Campus as Frontier ...........................................................................................1 1.1 Introduction .................................................................................................................1 1.2 Research Background .................................................................................................3 1.3 Research Problem and Question .................................................................................7 1.4 Goals of Research .....................................................................................................11 1.5 Methodology .............................................................................................................12 1.6 Organization of Dissertation .....................................................................................13 1.7 Conclusion ................................................................................................................13 Chapter 2: American Exceptionalism, Higher Education and Entrepreneurship ..............15 2.1 Introduction ...............................................................................................................15 2.2 American Exceptionalism .........................................................................................15 2.2.1 Turner’s Frontier Thesis of American History ...................................................16 2.2.2 The Process of the Frontier .................................................................................20 2.2.3 The Culture and Imagery of the Frontier ............................................................21 2.2.4 Contributions to American Exceptionalism ........................................................23 2.3 History of US Higher Education ................................................................................24 2.3.1 The British Model ...............................................................................................24 2.3.2 The German Model .............................................................................................26 2.3.3 Reform of the Foreign Models ............................................................................28 2.3.4 Hybridization of Foreign Models: Clark Kerr’s “Multiversity” .........................32 2.3.5 American Mutation: Business and Entrepreneurship Education ........................33 2.3.6 The Evolution of Business Education in the United States ................................35 2.3.7 The Rise of Entrepreneurship Education ............................................................37 2.3.8 Contributions to Higher Education Literature ....................................................42 2.4 Entrepreneurship .......................................................................................................43 2.4.1 Is the Entrepreneur the Correct Unit? The Need for Multiple Lenses ................43 2.4.2 Nascent Entrepreneurs and Emerging Organizations .........................................44 2.4.3 Entrepreneurs, Firms, and Processes ..................................................................45 2.4.4 Contributions to Entrepreneurship Literature .....................................................49 2.5 Conclusion ................................................................................................................50 v Chapter 3: Exploring the Phenomena of High Growth Student Startups ..........................51 3.1 Introduction to Research Problems, Question and Methods .....................................51 3.2 Research Problem and Question ...............................................................................52 3.3 Methodology and Data Collection ............................................................................53 3.3.1 Qualitative Methods and Data Collection ...........................................................54 3.3.2 Quantitative Methods and Data Collection .........................................................60 3.3.3 Introduction to the Database ...............................................................................61 3.4 The Development of the Database ............................................................................64 3.4.1 Variables Included ..............................................................................................65 3.4.2 Student Founder Variables .................................................................................66 3.4.3 High Growth Student Firm Variables .................................................................67 3.4.4 College and University Variables .......................................................................72 3.4.5 Sources of Data ...................................................................................................75 3.4.6 Limitations of the Database, its Data, and Variables ..........................................76 3.5 Campus Pathways of Student Founders ....................................................................77 3.6 A Proposed Framework for the Campus as Frontier for Entrepreneurship ..............78 3.7 Conclusion ................................................................................................................80 Chapter 4: Database of High Growth Student Entrepreneurs, Their Firms, and Their Colleges and Universities ..................................................................................................82 4.1 Introduction ...............................................................................................................82 4.2 Variables, Sources, Data and Limitations in this Database ......................................85 4.3 Student Founders: Data and Findings ....................................................................91 4.4 Student Firms: Data and Findings .........................................................................94 4.5 Colleges and Universities: Data and Findings ........................................................104 4.7 Conclusion ..............................................................................................................109 Chapter 5: The University of Chicago: Rockefeller and Harper’s Frontier.....................114 5.1 Introduction .............................................................................................................114 5.2 The University of Chicago ......................................................................................115 5.3 Charles Rainey Harper and the University of Chicago’s DNA ..............................118 5.4 The University of Chicago, Business Education and Entrepreneurship .................123 5.4.1 The Entrepreneurship Program at Chicago’s Booth School of Business .........126 5.4.2 The Chicago New Venture Challenge (NVC) ..................................................128 5.4.3 Polsky Center for Entrepreneurship and Innovation .........................................141 5.4.4 UChicago Tech and Intellectual Property .........................................................146 5.4.5 Entrepreneurial Networks .................................................................................149 5.5 Student Entrepreneurs on the
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