Entrepreneurship by necessity has always accounted for much startup activity. Toddi Gutner has a piece in the Dec 23rd Wall Street Journal highlighting recent grads launching firms and also some of the structures and assets that the campus presents to entrepreneurs. Kauffman, Babson, Y Combinator, business plan classes, etc. The article is worth reading, here is a snippet:
Andrew Levine knew he wouldn’t find a job in investment banking when he graduated with an M.B.A. from the University of Miami in 2008. Wall Street was in the midst of a financial collapse. So instead the 24-year-old focused his efforts on launching a start-up. “I figured that starting my own company was the best use of my time while I waited for the market to thaw,” says Mr. Levine.
Faced with an unemployment rate of 16% for 20- to 24-year-olds, a growing number of recent college and grad-school graduates are launching their own companies, according to anecdotal evidence from colleges, universities and entrepreneurship programs around the U.S.
For his part, Mr. Levine built upon a business plan for a niche social-networking company he had created for an entrepreneurship class the prior year.
Posted in Business Plans & Competitions, Campus Eco-System, Entrepreneur Profiles, Entrepreneurship Programs, Students
Tagged Babson, business plan, campus entrepreneurship, entrepreneurship education, Kauffman Foundation, student entrepreneur, Toddi Gutner, Y Combinator
The Globe and Mail in Toronto (where my friend Richard Florida offers his blog) has a great column by Michael Parkatti and Michael Marrone, current Y Combinator participants. For a bit on Y Combinator click here.
The one of the reason’s that we follow Y Combinator is because it is on the leading edge of new funding/advising models. The column is enjoyable and provides some insights into the paths of two young entrepreneurs (which include much time on campus). They will be writing columns each week during their three months in Cambridge at Y Combinator.
From their column:
For those unfamiliar with Y Combinator, it can be roughly described as a Venture Capital firm that provides seed funding for startups. However, their obvious corollaries with the traditional venture capital industry end there.
From a first-time founder’s perspective, Y Combinator is exactly the sort of program that provides the means to achieve our ambitions. On top of the seed investment, they also provide many of the intangibles (product advice, connections, ready access to hundreds of potential investors) that first-time entrepreneurs usually lack. In exchange they receive a small percentage of equity from each founding team. For the current three-month session (June to August), 22 teams have converged on the Boston area.
For two Canadian guys from St. Albert, Alberta and Belleville, Ontario who are long on ideas and short on connections, it’s exactly the opportunity we were looking for to take our startup to the next level.
I was fortunate to grow up in Chicago in the 80s/90s and was even more fortunate that my mom’s business partner’s husband (got that?) was an executive with the Chicago Bulls. We got to go to lots of playoffs games and see the Bull’s win 6 NBA crowns. Everyone in Chicago wanted to ‘Be Like Mike.’
According to Vauhini Vara of the WSJ, lots of people at Harvard now want to ‘Be Like Mark.’ Mark Zuckerberg that is, as in Facebook. Vara has a nice piece that explains that Harvard is new to the entrepreneurship game (compared to MIT, Carnegie Mellon, Stanford, etc.) and that Facebook’s explosion has led to a cultural change on campus.
The piece profiles a handful of Harvard campus entrepreneurs and their ventures and explains how the school has had to revisit many policies regarding student run businesses over the past few years. From the piece, Continue reading