Facebook Offers Outlet to University Researchers

According to recent reports, Facebook is making funding available to the most creative researchers at the most elite universities, basically offering a potential of breaking the bureaucratic log jam the is involved in much of the research funding universe. Ideally this type of initiative will look beyond the usual suspects (Harvard, MIT, Stanford, etc) as the company itself had to look well beyond elite university students to grow.

From USAToday,

Facebook’s secretive lab Building 8 has signed a collaboration deal with 17 universities to speed up the research cycle for hardware and software.

Building 8, headed by former Defense Advanced Research Projects Agency chief and Google executive Regina Dugan, has entered into a “Sponsored Academic Research Agreement.”  That means Facebook can get new research projects launched in weeks, bypassing the nine to 12 months it usually takes, Dugan said in a Facebook post

This is just another example of the most innovative firms (often with roots on the campus) are going back to the campus to find creators, innovators and entrepreneurs.

 

UK Science Calls for Support of Undergrad Founders and Entrepreneurship Education

While it has a decidedly scientific bent to it, the Council for Science and Technology (a UK government agency) has sent a letter to Prime Minister at 10 Downing St. arguing for more improving entrepreneurship education.

The letter, with a direct nod to MIT, is signed by Sir Mark Walport and Professor Dame Nancy Rothwell, and can be found here.

Prime Minister Theresa May has responded here.

For my take on the campus ecosystem.

 

More Funding Going to Student Founders | @JFiance @TheHouseVC

News from UC Berkeley and Georgetown University highlight what my research suggests: students are building some of the most innovative, impactful and valuable firms in the world and their experiences on campus matter (see Campus as Frontier)

From Gtown in DC: Ted Leonsis, billionaire owner of the Washington Capitals and active venture investor, made a $1 million donation to the Georgetown Entrepreneurial Initiative earlier this month with the funds dedicated to seed funding for student ventures that are working to “address problems in the world.” The fund will likely give out $100,000 per year according to the Washington Business Journal.

Out West: University of Cal Berkeley has become thehousefund_logo_backgroundthe target of a small, niche venture investing fund being run by 24 year old Jeremy Fiance, a Berkeley grad. You can read more about the fund directly from Jeremy on his post to medium.com.

Our story is part of a much bigger movement happening on campus right now as student entrepreneurship has evolved into a growing and integral part of the Berkeley experience. To cite just a few Berkeley initiatives, there are eight accelerator programs focused on specific stages and vertical industries, over 40 clubs across engineering, design, and entrepreneurship, two entrepreneurship centers, a design institute, a maker space, the world’s largest ever collegiate hackathon, and much more.

The House Fund is built by and for Berkeley founders. We’re doubling down on our belief in Berkeley by contributing a significant portion of our returns and resources back into the ecosystem. Stay tuned for another big announcement on that front in the coming months.

One more piece on the House Fund and Jeremy from the Business Insider.

 

Cupid’s Cup 2016 | @UofMaryland @UnderArmour #KevinPlank

In completing my research on high growth ventures created by students the case of Kevin Plank (Under Armour) and the University of Maryland was part of my data collection and highlights many of the ideas uncovered. Cupid’s Cup, the annual business competition sponsored by Plank and Under Armour, completed its final round Thursday April 7 on the campus of the University of Maryland. (At the time of this post you could watch the event here)

As usual, the finals featured a passionate speech by Plank and an awesome, psyche up video by Under Armour. Plank’s message about Under Armour and his vision for Baltimore are big (backed by investment on the Baltimore waterfront — see the plans for Port Covington). I would not doubt this guy and his team. Btw, I must confess I bought Under Armour stock ($UA) a number of years ago and have been pleased with their performance.

The judges for the final round included Plank, Arianna Huffington, Dan Gilbert and Wes Moore — truly an accomplished group across a variety of fields/industries.

The 6 presenting finalists were – Javazen, Plova Chewing Gum, Wolf & Shepherd, MyBestBox, SixFoods and Headbands of Hope. The winner was Javazen – the hybrid green tea and coffee drink developed by students at the University of Maryland.

Headbands of Hope creates headbands for kids undergoing cancer treatment; mybestbox is a monthly subscription box promoting healthier lifestyles, Plova gum cleans your teeth between brushings, Six Foods makes bug chips that kids seem to like, and Wolf & Shepherd make dress shoes that perform like athletic shoes.

Nice diversity of ventures, all generating revenue and entering vibrant markets and making impact. Look for more from these teams. Coverage of the Kevin Plank’s Cupid Cup in the Balitmore Business Journal. For the official Cupid’s Cup website.

Some @PeterThiel Content | Videos and Articles

Like many, I’ve been fascinated by Peter Thiel for a few years, really hitting my radar with his Thiel Fellowship a few years back when he asked innovators to leave the campus and pursue their innovations (here are all the fellowship winners). I was fortunate enough to Peter-thiel-paypal-historysee him in Conversations with Tyler at George Mason University in 2015.

His background, from founding PayPal (PYPL | NASDAQ) and funding Facebook (FB | NASDAQ) to his fellows and Zero to One (his book), its clear this guy is one of the most intelligent and insightful people out there (at least among those sharing their thoughts publicly) so it’s no surprise that he has been so successful. Here is some Thiel content.

I share the The Competition Myth by Peter Thiel with all of my students.

Excellent long video interview with Bill Kristol. Really covers a diverse set of topics from Facebook to the major problems with higher education – really going after the ‘racket’ of higher ed with some incredible truths (last 25 minutes or so). Really great long interview (I watched it over 5 sessions)

Video of Peter Thiel discussing Mark Zuckerberg’s impact in specifics. Good short video (6:30).

Well? Pretty thoughtful, insightful guy huh? Feel free to send any great Thiel content you come across.

BTW, interested on my views of higher education, founders and innovation? Check out Campus Frontier: High Growth Student Startups at US Colleges and Universities.

 

 

 

Books for Innovators and Entrepreneurs | #Sprintbook #CleanDisruption

I started reading Tony Seba‘s Clean Disruption of Energy and Transportation — I decided to read more books in 2016, now that the Phd on student entrepreneurs is done.

A few weeks ago while in Tokyo I heard Tony speak and spent some time with him after his talk. While I’ve followed solar, Tesla, and the like from a distance, the deep dive with Tony and his book has converted me.

With detailed statistics and crucial discussions of new disruptive business models, Tony presents a vivid potential picture of the near future. Speed and scale of change will rival anything we’ve seen in recent years. The ramifications of this change are massive — could keep you up for days on end thinking about the end of oil and all that will entail — just let your mind go for a moment. Check out Clean Disruption — at least download the first chapter or watch some of Tony’s videos.

The other book I am quickly reading is Sprint: How to Solve Big Problems and Test New Ideas in Just 5 Days. Its comes from key team members at Google Ventures —  Jake Knapp, John Zeratsky, Braden Kowitz. While I’ve just started it, its clear it fits in the lean startup, sprint_coverstartup weekend, hackathon, design thinking, maker revolution that we are witnessing. And to be honest, how could anyone interested in innovation and problem solving, not want to learn some of the frameworks, techniques etc employed by Google / Alphabet (GOOG | Nasdaq)

The notion/ethos that action, experimentation, questions, and speed truly matter in effective problem solving, innovation and entrepreneurship is where we are. (As a side note — this is going to cause increasingly dramatic problems for higher education in the coming years)

Sprint, from the get go, includes nice graphics and appears to be a clear, detailed map for mere mortals to follow. The challenge for most of us will likely be brain power, commitment, courage, resources, and collaborators. But I look forward to experimenting with this roadmap with our innovators at Mason and others. Will update more when I get deeper into this one, but it looks like it could be a nice starting point to play with and explore in the coming months.

Here are some reviews of Sprint by Jake Knapp, John Zeratsky and Braden Kowitz:

Goodreads  and Upstart and Financial Times (what never read it — then please do acquaint yourself with the FT)

Forbes Billionaires and Student Entrepreneurs

Each year Forbes The World’s Billionaire list is released and its as clear as a punch in the nose that student founders build some of the most important, impactful and wealth creating ventures in the world. Here are a few from the 2016 World’s Billionaires list.

Bill Gates (1), Mark Zuckerberg (6), Larry Page and Sergey Brin (12 & 13), Phil Knight (24), Michael Dell (35), Elizabeth Holmes (435), and Kevin Plank (527) are some of the student founders on the list. Facebook and Microsoft appear to have the ability to field basketball squads from members of the list.

The basic Forbe’s  billionaire story provides an overview of the shrinking and churn of the list… number of billionaires is down as more moved out than in and total wealth and average wealth are down from 2015.

0228_billionaires-collage_500x500