Is that a Corporation on Your Campus?

Here is an article from the WSJ (free via AOL) that explains that corporations are learning what campus entrepreneurs have known for a long time — campuses are incredible places to do business. Express Scripts Inc., a pharmacy-benefits manager with almost $18 billion in annual sales has put its headquarters on the campus of the University of Missouri — St. Louis. Express Scripts is one of the first U.S. firms to locate its headquarters on a college campus. Makes sense huh? Any campus entrepreneurs in St. Louis going to make money selling to Express Scripts or its employees?

Where Have I Been?

Last week was a crazy week. I was in NY in the early part of the week with Richard when he appeared on the Colbert Report. Then for the later part of the week I was in Jacksonville, FL with the amazing people of Tallahassee for their Chamber of Commerce Annual Conference. I spent time with their young professional group (Access) and also with the wider audience. The week was great, but threw me for a loop in terms of time and energy.

The Ripple Effect of FedEx Founder Fred Smith — Yale University

As mentioned in a previous post, it is business lore that Fred Smith received a C on an economics paper when he was at Yale. The paper was the idea of FedEx. Smith explains the growth of the C myth. Look at what an effect his entrepreneurial endeavors (begun on Yale’s campus) are now having on the growth of Memphis. From the WSJ,

Many large companies have distribution centers in Memphis to maximize delivery time frames. But a growing number of smaller companies like KCC are now moving to Memphis or adding a branch there to serve their customers faster. Small businesses are realizing that having a centralized distribution center in a city like Memphis can give them a competitive advantage. And it also provides a marketing opportunity, as companies pitch the logistical efficiency to potential clients.

“You’re basically one plane and one truck away from being in your customer’s house in many instances,” says Jim Cook, chief financial officer of allbusiness.com, a small-business resource Web site, and co-founder of Netflix Inc., an online DVD-rental business that depends on efficient distribution centers. Mr. Cook, who has served as a consultant to several businesses on supply-chain logistics, says the potential advantages include increased sales, customer loyalty and satisfaction.

Over the past two years, more than two dozen small businesses have either relocated or expanded in and around Memphis, according to the Memphis Regional Chamber.

Fred Smith is clearly not the first campus entrepreneur to remake a region (silicon valley, seattle, and austin — have all benefited from the incredible feats of some campus entrepreneurs), but its interesting that Fed Ex, with it focus on physical capital and goods, could never have been realized in New Haven, CT.

Zino Society Business Plan Competition

I am just learning about this competition, the Zino Zillionaire Investment Forum, but it appears pretty unique. Put on by a group of angel investors with a spin (they are based out of seattle). 28 companies will enter their competition and the $150,000 will be awarded in three categories. According to their site,

Zino is a premier membership, business and social network that connects accredited investors with entrepreneurs seeking funding. ZINO Society cultivates camaraderie in the world of wine and business with extraordinary people and experiences, crafting insider events, access to vintners, chefs and unique venues.

With more than 225 active members, ZINO Society is not your traditional angel investment group. ZINO Society’s unique investment meetings and social events provide entrepreneurs an opportunity to showcase their businesses, and investors and business leaders a chance to a network and invest in a relaxed and supportive environment.

If their site is to be believed, this is not your run of the mill business plan competition. Anyone know anything about this one?

The Indus Entrepreneurs – Business Plan Contest — Hyderbad

One of the reasons sometimes given for India’s success in high-tech has been the great ‘trans-national’ networks that Indian scientists and entrepreneurs created both in the US, in Europe, and in India. Annalee Saxenian has written on this topic. Many of the networks grew out of campuses in the US and in India. The Indus Entrepreneurs (Hyderbad Chapter), a legendary ‘transnational Indian network,’ and the Indian School of Business have called for entrants for their 3rd Annual TIE-ISB Connect Business Plan Competition.

This competition has six tracks, ranging from ‘mobile convergence’ to ‘new media and entertainment.’ Check it out and let us know what you find.

Google’s Opportunity for Campus Entrepreneurs

I recently started using Google’s iGoogle service. It is kind of like MyYahoo (which I stopped using years ago), but only done with Google’s expertise and design — so it is great. One of the best parts is the choice of little ‘gadgets’ (I call em widgets) that you can use to pick content. Well, anyone can make the gadgets (I am even considering making a campus entrepreneurship one) and Google is now supporting those who appear to do it well. Check out this story from Information Week on the funding Google is making available to these gadget makers/entrepreneurs.

How do  I know this is a great opportunity for campus entrepreneurs? Read this snippet;

“We’ve been hearing from a lot of gadget developers that they’d like to spend more time developing if they could, and we’ve been thinking about ways to help them do that,” said Sep Kamvar, engineering lead for personalization, in a blog post. “To that end, we’re happy to announce Google Gadget Ventures, a new pilot program that will help fund third-party gadget development and gadget-related businesses.”

The great thing about is a campus is — there is lots of time. Whether you are a researcher, student, professor, etc schedules are typically very open. (Perhaps it is the administrators who really have no time). This ‘freedom of time’ is one of the elements of the campus ecosystem that is most beneficial to campus entrepreneurs.

Is U of Florida the next Stanford or MIT

According to a piece in Business Week, the University of Florida (which has dominated hoops and football lately) is making a run at being a high-tech startup powerhouse as well. While it has trailed behind better known tech leaders such as Stanford, Berkeley, CIT, and MIT, for decades, lately the University of Florida has been making great strides. From the article,

Isolated in Gainesville, the university failed to create a single startup from faculty discoveries a decade ago. By the 2004-05 school year, though, its spin-off tally was up to 13. The Big Three still outdid Florida, with leader MIT generating 20, according to the latest annual survey by the Association of University Technology Managers (AUTM). But Florida whizzed past all the rest of the 228 survey respondents, including such better-endowed universities as Johns Hopkins and Harvard. The payoff is tangible: Florida’s license income jumped from $11 million 10 years earlier to $40.3 million, more even than MIT or Caltech. Its office of technology licensing is now a profit center.

Gators as high-tech entrepreneurs? Anyone down in Gainesville care to weigh in?

Choosing the Right Campus?

Does location matter? In my day job, we spend a lot of time looking at variations in place. In fact we helped out with a recent Fast Company Magazine feature called Fast Cities? Perhaps we should think about fast campuses?

Where is the most action taking place? New technologies, openness to new ideas, foods, & entertainment products? What about campuses where there are lots of outgoing, intelligent people? Does size matter? What about urban vs suburban vs rural? Is it a surprise that top b-schools such as Harvard, Chicago, Kellogg, Stanford, Columbia etc. are located in major economic hubs? Does anyone think about this before they choose and MBA program or a campus?

1600 Enter Arab BPlan Comp — MIT/Berytech

From Berytech (an incubator in Lebanon) the announcement of the winners of the The MIT Arab Business Plan Competition. Described as “a first of its kind in the Arab region, this competition was designed to encourage all entrepreneurs in the region to start their own company and ultimately create a nest of leading firms in the Arab world. It also brings to the Arab world all the MIT expertise in entrepreneurship and in running such competitions.”