Category Archives: Campus Eco-System

@TechCrunch Highlights Growth of Midwest Innovation Economy (And Case’s Rise of the Rest)

Beyond being born and raised in Chicago and spending many years on campuses in the Midwest (BA, MBA), I worked in the tech community during the Internet Bubble and love the Midwest’s continued growth. That said, the optimistic story in TechCrunch by Jonathan Shieber, seems to be a throwback to 15 years ago with the added focus on Case’s idea of the ‘rise of the rest.’ (BTW, we were the Silicon Prairie back then — Divine Interventures, May Report, Halo – Starbelly, etc)

As the most populous city in the region, it’s no surprise that Chicago is the fastest growing hub in “Silicorn Alley” in the development of its investment ecosystem. In the first eight months of 2014 Chicago saw $6 billion in exits through public offerings and sales, including the recent sales of TrunkClub to Nordstrom, and Apartments.com to CoStar Group.But beyond the windy city, startups are cropping up across the Midwest’s silicon plains.

There is some interesting data in the article and mentions of institutions such as 1871 and Lightbank which have helped build strong infrastructure. The article does not mention the rise of the U of C Entrepreneurship infrastructure and the companies that have gone through the campus (the topic of my dissertation) and relies on quotes from power brokers such as the Pritzker clan and abstract ideas from Andreessen (a product of the University of Illinois) to strengthen the rise of the Midwest argument before returning to the Case Rise of the Rest pitch.

The article is worth reading on a number of levels, but it is worth remembering that Chicago and the Midwest were working on this long before the coasts acknowledged the ‘rise of the rest.’

News from the World of High Growth Student Startups | GrubHub | Packback Books | #Entrepreneurship #Dissertation

Been awhile lots of research and busy with new opportunities at George Mason Universities. The Campus is indeed the frontier. Three items from the frontier…

University of Chicago Booth School high growth startup GrubHub has filed for an IPO. From winning the Edward L. Kaplan New Venture Challenge to raising millions in venture capital, Matt Maloney‘s startup has been on the move.

Big celebrations in Chicago and at 1871 as a student startup from Illinois State, Packback Books, appeared on Shark Tank last week. They closed a deal with Mark Cuban. The company, founded Kasey Gandham, Mike Shannon and Nick Currier offers short term, pay per use digital textbook rentals. Kind of like renting a movie from itunes etc. Big changes in #highered #textbook market!

My dissertation, The Campus as Frontier for Entrepreneurship: High Growth Student Startups at U.S. Universities, will be completed in April 2014. The dissertation will include a case study, a database of high growth student entrepreneurs, their firms, and universities. Additionally, the work will propose 5 archetypes of high growth student entrepreneurs and will suggest a frontier framework for evaluating U.S. higher education and its value. I look forward to sharing this work as I complete by PhD from GMU’s SPP.

 

 

 

 

@GeorgeMasonU Alumni @GloboxRentals Launch International Film Kiosk Startup

{DISCLOSURE: I have worked closely with this startup and am mentioned in the article below and am pictured} Great piece on Mason born and Mason Alumni run startup Globox Rentals, a kiosk DVD rental service making top international films available to various consumer markets. The team recently placed its first 10 kiosks, including one in the Johnson Center — the student union @GeorgeMasonU. From Rashad Mulla of the College of Humanities and Social Sciences:

This “Globox” movie rental kiosk, which stands over 8 feet tall, is the pride and joy of Asad R. Ali and Sammy Kassim, the entrepreneurs at the heart of the brand new international film rental company, “Globox Rentals.”

Globox makes movies available for rent through vending kiosks, much like the multi-billion dollar rental service Redbox, but with one big difference: Globox specializes in new and popular international cinema, from more than 100 countries worldwide. This summer, Globox launched its first 10 kiosks, located in the Johnson Center, at various international grocers in Virginia Fairfax, Falls Church, Mt. Vernon, Woodbridge, and Arlington and a 7-Eleven convenience store in Bowie, Md.

“There are a lot of good international titles, content, and movies out there,” Kassim explained. “There just wasn’t an easy avenue for most of the customers and consumers to get that content.”

Today, the Globox team consists of co-founders Ali who studied in both the School of Management and the Department of Economics and Kassim BS ’11, Management, and fellow Mason alumni Ricky Singh BS ’11, Information Systems and Operations Management and Brittany Hill BA ’12, Art and Visual Technology. The Alexandria, Va.-based company appears to be riding a wave of momentum heading into the fall. But to get the ball rolling, Ali and Kassim had to put in a lot of work, and make a couple of unconventional decisions that required passion, drive and, simply put, bravery.

via College of Humanities and Social Sciences | News: World Cinema at Your Fingertips: Young Alumni Start “Globox Rentals” Business.

Google and Their Programs in the Education Space | #highered $GOOG #edtech

Emily Lucas of LifeHack.org has a nice post highlighting some of Google’s many initiatives in the education space.  From STEM and Social Entrepreneurship to Faculty Research and Marketing Competitions — Google is in the space. (Yes Brin and Page are two of the top 10 student entrepreneurs of all time). The entire post lists a bunch of their programs, below is a snippet and one of their interesting offerings. From LifeHack:

As one of the world’s premier companies, Google has truly affected the way everyone accesses information and how people learn online. To further encourage and nurture the leaders of tomorrow, Google has created many different educational programs for all ages. Educational programs at Google are not just informative. They also provide funding for underprivileged and minority students who otherwise would not have had the opportunity to study computer science. This gives so many young students the ambition and dream to pursue a potential career in the burgeoning field of computer science.

Zeitgeist Young Minds Awards

This annual Google competition is aimed at entrepreneurial and ambitious 18-24-year old entrants from all over the world. To enter, the participants make a YouTube video explaining how their project or innovation will impact the world. After the participants are narrowed to 12, they attend Google’s Zeitgeist Conferences in Europe and North and South America. World leaders come to these conferences to raise awareness and discuss how to address the world’s problems.

via Google and Their Educational Programs.

Has Online Education Won Wonders Daniel Pianko @UniVenturesFund

Just received the latest University Ventures letter with a piece, “You Won”, by Daniel Pianko. He explains that his tenured professor brother has acknowledged the future is online and that #highered is going to get whipped by educational equivalents of Amazon and Uber:

As colleges and universities face off against new technology, how does this game compare with the one retailers and taxi drivers have been playing?

It’s true that three million American students – nearly 1 in 6 enrolled at colleges and universities – are earning degrees entirely online, without setting foot on campus. But they are doing so at accredited universities (nearly all regionally accredited). Students haven’t fled the system for an Uber- or Amazon-alternative. Overall enrollment is up 18% over the past 5 years. And new private sector universities (i.e., publicly traded companies like Apollo Group, parent of University of Phoenix), which had seemed on a path to market domination, have experienced enrollment declines.

At the same time, my brother sees clouds on the horizon. As Ben Nelson, the founder of the Minerva Project, explained to me, about 100,000 students at the University of California and California State University systems take Psychology 101 each year. Psychology 101 is a first year lecture class with, on average, over 200 students in each class. That’s 100,000 students, at an average of $1,500 of revenue per student per class. So Psych 101 generates $150M in revenue at a cost of delivery that can’t possibly exceed $50M. As a result, the California systems generate $100,000,000 of gross margin (i.e., profit) on Psych 101 – a contribution that is used to support other activities in the systems. What happens, my brother rightly and fairly asks, when new entrants like StraighterLine and UniversityNow push the price UC and CSU can charge for Psych 101 to the actual cost of delivery? What will UC and CSU have to cut?

That last question… what goes away? Is that the only question? How about… what can get added that people will pay for? Or are their new customers for the traditional goods (face to face interactions, dorms, extra curricular activities?). There is lots of opportunity out there!

Student Entrepreneur $10M Revenue Run Rate: Extrabux CEO Jeff Nobbs | Sramana Mitra

I love when data for my research arrives in my email inbox. Thank you Sramana Mitra, Jeff Nobbs of Extrabux, and USC!:

Sramana: Jeff, let’s start with the beginning of your story. Where are you from? What are the circumstances that led up to the Extrabux story?

Jeff Nobbs: I am from San Diego. I was born in Northern California and spent two months there before I decided it wasn’t for me! I grew up in San Diego and went to college at USC in Los Angeles. While I was at USC, I started Extrabux with my co-founder, Noah, a guy who lived two doors down from me in the dorms. We started it as a side project while we were at school, and it stayed that way for a few years.

Our junior year we entered Extrabux into our university’s business plan competition. We ended up winning the USC business plan competition and we got $25,000. That was the first stamp of credibility that we received and the first bit of money that we got to start building our team.

via Student Entrepreneur to $10M Revenue Run Rate: Extrabux CEO Jeff Nobbs Part 1 | Sramana Mitra.

The Dark Side of #EDTECH & #MOOCS

Thinking about the negative implications of innovation and technology on campus. From Marc Perry at Chronicle of Higher Education:

Companies, colleges, and columnists gush about the utopian possibilities of technology. But digital life has a bleaker side, too. Over the weekend, a cross-disciplinary group of scholars convened here to focus attention on the lesser-noticed consequences of innovation.

Surveillance. Racism. Drones. Those were some of the issues discussed at the conference, which was called “The Dark Side of the Digital” and hosted by the University of Wisconsin at Milwaukee’s Center for 21st Century Studies. (One speaker even flew a small drone as a visual aid; it hit the classroom ceiling and crashed.)

After a week of faculty backlash against online education, including the refusal of San Jose State University professors to teach a Harvard philosophy course offered via edX, the down sides of digital learning emerged as a hot topic, too.

In a talk dubbed “Courseware.com,” Rita Raley, an associate professor of English at the University of California at Santa Barbara, described how societal and technological changes had “reconditioned the idea of the university into that of an educational enterprise that delivers content through big platforms on demand.”

via Scholars Sound the Alert From the ‘Dark Side’ of Tech Innovation – Technology – The Chronicle of Higher Education.

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