Category Archives: Research

Does the Campus Play a Role in the Creation of High Growth Student Startups? #Hackedu #Dissertation @GeorgeMasonU

I am in the final weeks of finishing my dissertation. My research question investigates the role the campus plays in the opportunity recognition and startup processes of high growth ventures created by students at US universities and colleges.

From Microsoft, Nike, and Dell to WordPress, Groupon, and Under Armour, many innovative and world changing firms have been conceived in the minds of students on the campuses of US universities and colleges.

My data suggests that the campus does play an important role and that in recent years entrepreneurship infrastructure on campus have had an increased impact. The challenge is that there is a wide range of campus assets available and as with all assets, the value extracted is dependent on the person in possession of said asset. My data also suggests that certain campuses produce high growth firms/entrepreneurs with regularity and that the numbers are increasing.

Looking forward to sharing more. I may post some chapter drafts in the coming days for people to take a look at. Thanks.

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.

 

 

 

 

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.

A Self-Publication Gold Rush? | Disrupting Higher Education | The Chronicle of Higher Education

Amazon is playing a role in disrupting academic publishing. From Marc Bousquet at the Chronicle of Higher Education (h/t Paul Rogers)

En route to a professorship of rhetoric and writing at the University of Texas at Austin, Clay Spinuzzi published scholarly monographs with the MIT Press 2003 and Cambridge University Press 2008. Last January, right on schedule, he brought out a third book, Topsight: A Guide to Studying, Diagnosing, and Fixing Information Flow in Organizations. His publisher this time? Himself.

Using the Amazon CreateSpace Independent Publishing Platform and a couple of thousand dollars in freelance graphic design and copy-editing, Spinuzzi will make back his financial investment after 300 copies are sold. That’s because he’ll earn exceptionally high royalties: Around $7 for every digital copy, a little more for each print-on-demand paperback. If he sells just 1,500 copies, he’ll earn $10,000. If he gets to the academic equivalent of best-sellerdom—15,000 copies—he’ll easily clear more than $100,000.

Those numbers flow from Amazon’s revolutionary royalty structure. For self-published e-books priced under $2.99 or more than $9.99, Amazon pays a 35-percent royalty. But for those priced between those benchmarks, authors can clear 70 percent for themselves. The sweet spot is designed to keep prices within the range that traditional publishers expect for mass-market and many trade paperbacks­­—and to keep Amazon from underpricing its own traditional wares.

Later in the piece,

Of course, even in the narrower world of textbooks and other works for lay or crossover readerships, the possibility of a cash payout isn’t the only advantage to self-publishing. Spinuzzi cites swift turnaround, freedom to experiment, and greater creative control of layout, images, and content: “I got away with a lot of things that traditional publishers wouldn’t allow,” he says. “Something as small as referencing Scooby-Doo can really set the tone for a book, making it friendly and accessible, and I didn’t want to give that up.”

In the end, those advantages may have more and more influence upon young scholars, for whom the digital-humanities movement has begun to at least modestly undermine the centrality of the monograph in scholarly communication.

Today’s digital humanists increasingly share not only the apex of our analysis but all the constituent elements of our research—unedited oral history in various languages, for instance; edited, arranged, and translated clips; slides; searchable raw data; sorted data; collected primary texts; annotations of primary texts; and so on. This digital, multimodal, social, dynamic scholarship is truly unsuitable for (merely) print, as Jerome J. McGann and others at the University of Virginia’s Institute for Advanced Technology in the Humanities proved long ago with projects like the Rossetti Archive and the Sixties Project.

I am excited to be experimenting with some of the tools/technologies as I finish up my dissertation over the next few months.

via A Self-Publication Gold Rush? – Commentary – The Chronicle of Higher Education.

Forget Angels, Try Your Parents or Piggy Bank – The Accelerators – WSJ

Nice piece by Vivek Wadwha the echoes Scott Shane’s Illusions of Entrepreneurship.

My team at Duke University worked with Raj Aggarwal of University of Akron and Krisztina Holly at the University of Southern California to research the backgrounds of 549 entrepreneurs whose companies had made it past the begging-for-seed-money stage and were generating real revenue. We found that only 9% had raised any angel capital, and 11% had raised venture capital after they had grown. There was some overlap between these two groups.

In other words, nine out of ten successful startups did it all on their own.

Where did the funding come from for those companies that failed to attract an outside investment? For the vast majority—70%—of successful entrepreneurs starting their first companies, it was from personal savings. A much smaller number raised money from business partners, bank loans, friends and family, and other sources.

via Forget Angels, Try Your Parents or Piggy Bank – The Accelerators – WSJ.

Rise Revisited | Martin Prosperity Institute | @Richard_Florida

Richard Florida’s Rise of the Creative Class has been reissued for its 10th anniversary. I have been lucky enough to get to know Richard (@Richard_Florida) and work with him a bit over the past 7 years on variety of projects. He is a truly brilliant social scientist and great thinker. Richard is currently at the University of Toronto as the Director of the Martin Prosperity Institute. From Insight:

The Rise of the Creative Class introduced Creative Class theory. Florida’s occupational typology examines the labor force through a four-part system: the Creative Class, Service Class, Working Class and Farming, Fishing and Forestry class. Rather than measuring education, an occupational measure is more closely related to productivity than education is. Creative Class workers “produce new forms or designs that are readily transferable and widely useful – such as designing a consumer product that can be manufactured and sold; or composing music that can be performed again and again” (The Rise of the Creative Class Revisited, pg. 38). Briefly, Creative Class workers are paid for their thinking and problem solving skills, while Service Class workers are paid to perform routine work directly for, or on behalf of, clients. Working Class workers are paid to maneuver heavy machinery and perform skilled trades, while Farming Fishing and Forestry workers are paid to extract natural resources from the ground or seas.

In the United States, while 72.2% of adults with a bachelor’s degree or above are members of the Creative Class, only 59.3% of the entire Creative Class holds a college degree. This is because higher education is not a prerequisite for one to be creative, and many Creative Class workers do not hold higher academic credentials. While having a bachelor’s degree or above means you are more likely to be in the Creative Class compared to the other three classes, when looking at the entire Creative Class as a whole, only just over half of the labor force holds the credential. Steve Jobs and Bill Gates are examples of creative workers, who while not holding an advanced degree, still possessed skills that are essential to economic growth and innovation within a city.

via Insight: Rise Revisited — Knowing and Doing | Martin Prosperity Institute.

University Efforts Grow in Support of Student Entrepreneurship | Chronicle of Higher Education

I was fortunate to speak with Beckie Supiano of the Chronicle of Higher Education as she put together a piece on the efforts of various universities to support student entrepreneurs. From Supiano’s To Develop Student Entrepreneurs, Colleges Incubate Their Idea (sub required):

Beyond student demand for entrepreneurship training, worries about the weak job market are driving colleges’ response. Teaching students to start their own businesses is one way to give them a leg up after graduation. And some institutions see a responsibility to foster job creation more broadly, especially in their own backyards. To that end, they are increasingly offering majors and minors, incubators and accelerators, business-plan competitions and internships—anything from a single academic course or co-curricular program to an array of opportunities—for interested students.

Lots of great information and coverage of many incredible programs and student entrepreneurs. I am quoted and referenced near the end of the piece. Supiano writes,

“The campus is the new frontier for entrepreneurship,” says David J. Miller, director of entrepreneurship at George Mason University’s Center for Social Entrepreneurship. For his Ph.D., he is researching the conditions that allow college students to start successful firms. He is using the historian Frederick Jackson Turner’s theory of the American frontier.

Like the frontier, colleges provide assets, Mr. Miller says: space and human resources. They offer an unregulated atmosphere with no one person or entity fully in charge. And they are diverse places, both in the traditional sense and in that they bring together scholars from many disciplines.

Turner thought the frontier set the stage for America’s success as a nation. Now colleges are trying to make that kind of mark on entrepreneurship.

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