A nice, thorough piece by Anna Prior of the Wall Street Journal on what aspiring entrepreneurs can gain through their choice and management of their college experience. From the WSJ:
Going to college and starting a business can be expensive propositions. Business owners loaded with student debt may end up in a big financial hole—their families may have tapped out their resources helping to pay for school, leaving them unable to contribute to the business, and the entrepreneurs themselves may face a tough time qualifying for traditional business loans or other types of financing.
That’s why experts say it’s critical that potential business owners need to think about how much debt to take on and how to pay back student loans, right from the get-go.
There are many great topics, including what to study and where to go, in this article. Many of the topics similar to what I uncover in my forthcoming research.
Glad to see this article and I hope more students, families, and schools leaders and taking this issues into consideration as they consider higher education options and entrepreneurship.
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.
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.’
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.
Posted in American Exceptionalism, Campus Eco-System, Disruption in Higher Education, Frederick Jackson Turner, Frontier Thesis, Research
Tagged entrepreneurship, GrubHub, IPO, Packback Books, Shark Tank, startups
Received a thoughtful email from Greg Hahn at Boise State University the other day telling me about their new Venture College. Sounds very exciting and it seems they have buy in and support from the entrepreneurial community in Boise. Can’t wait to hear about their incoming class. From Venture College’s homepage:
Venture College prepares students to launch businesses or nonprofits. This new, non-credit program is open to all full-time students in any major , especially non-business students. Students who successfully complete the program receive the Boise State University Venture College Badge.
Start-up is Fall 2013. While the application deadline has passed, we are accepting applications for the wait list. If you would like to submit an application and be added to our wait list click here to apply. We expect to notify wait list applicants on May 15 as to whether or not there is room in the program.
Interestingly, when you visit the Why Venture College page you read this…
Boise State is taking a leadership role in developing models to teach the skills necessary to succeed in the 21st century. We are challenging traditional educational strategies and piloting new methods for superior, relevant education. One of the new models is Venture College, a skills-based program that will prepare our students, especially non-business students, to launch enterprises of economic and social value, some while they are still students.
Venture College will provide self-paced, on demand access to knowledge, intensive mentoring and an opportunity to compete for resources needed to start a business.
Venture College is a unique university-wide initiative independent of any academic college and structured as a concurrent, non-credit program for degree seeking students. This independence from traditional course, credit and accreditation requirements frees Venture College to deliver an innovative and rigorous non-traditional experience for those students, regardless of discipline, who have a passion for starting their own businesses or working in new ventures.
Pretty exciting, glad to have learned about Venture College at Boise State and we’ll see what the Broncos come out with and what the playbook looks like in August 2013 when the first class begins.
via Venture College | Green light your dreams.