Category Archives: Campus Eco-System

Entrepreneurial Nuggets | Adirondack Jack | Wave Extinguisher at Ripley’s | Cheap Lego Drones | Warby Parker Makes Public School Hip

Alibaba founder Jack Ma bought 28,000 acres of forestland in the Adirondacks for conservation purposes… While billionaire founders and CEOs conserving land in NY is not new, the fact that a Chinese innovators is there too is interesting. Read the story about Jack and his $23 million dollar buy.

Warby Parker, the hip, social impact oriented eye glass firm founded by Wharton

Ripley's Believe It or Not! Cartoon of the day 6/26/15.

Ripley’s Believe It or Not! Cartoon of the day 6/26/15.

students has partnered with New York City Public Schools and will provide up to 20,000 pairs of glasses to kids in need.

GMU’s Seth Robertson and Viet Tran were feature in Ripley’s Believe It Or Not Cartoon of the Day for their Wave Extinguisher — it puts out fire with sound waves!

We love Parrot drones at Mason — they are fun for students to learn on. The company announced 13 new drones this week for less than $189! One with a Lego attachment!

Commonbond, an innovative student loan company started at Wharton in 2012, sold its first bonds to Wall Street investors. By targeting specific students and graduates (originally Wharton grads), the firm offers lower rates to lender and loan products with specific attributes to investors.

Do College Drop Outs Thrive?

The WSJ ran the headline, College Dropouts Thrive in Tech, a couple of weeks ago (sub required). The article highlights well known dropouts (Jobs, Zuckerberg) and Thiel Fellowship winners, even referring to one as a wunderkind (a concept I reference in my forthcoming research on student entrepreneurs at US colleges and universities).

From the piece ,

Messrs. Weinstein and Kramer live at Mission Control with 10 others, including two women; half are under 21 years old. Three, including Messrs. Weinstein and Kramer, are Thiel Fellows. The house was originally leased by fellowship organizers for grant winners; other young entrepreneurs moved in as some initial residents left.

More dormitory than frat house, there is more working than partying at Mission Control. Residents come from varied backgrounds with diverse interests, but share some common traits: a brush with early success, disillusionment with the education system, an irreverent world view and healthy self-confidence.

The housemates share their schedules through a Google calendar and conduct group chats on Facebook Messenger, alerting each other to events like Wine-and-Cheese Wednesdays, Freestyle Fridays, and house dinners. There are impromptu all-night sessions of role-playing games such as Werewolf, but the most popular activity is tinkering with technology

I pulled the above quote because my research investigates whether the campus offers frontier like attributes that support innovation and entrepreneurship. The picture painted above provides some insight, but the data set — 2 Thiel fellows — is too small and not sure how representative these folks are of ‘dropouts.’

My data, which includes many students in the information industries — ranging from software and saas to e-commerce and search engines, includes notable dropouts, but most of the students that created high growth ventures while in school do in fact graduate.

Interesting commentary on the article over at Y Combinator Hacker News.

More to come. I will be defending my PhD in mid-July.

Competition Myth @PeterThiel @ISI | #Conformity Kills | #students #highered

Was fortunate to have one of our GMU School of Business supporters send us a really strong piece by Peter Thiel at The Intercollegiate Review on being true to oneself and your own vision of truth/value rather than that of those around you.

The article is a strong indictment of conformity and mediocrity across a whole host of areas — both micro and societal — and the dangers it presents. Good read for students and others trying recharge and find a truer, self-defined path. (Hint of Earl Nightingale in the article — wonder if Thiel is familiar with The Strangest Secret)

A few strong excerpts,

This is, I think, the big problem with competition: it focuses us on the people around us, and while we get better at the things we’re competing on, we lose sight of anything that’s important, or transcendent, or truly meaningful in our world.

later,

The problem is not one of brainpower: we are talking about fiercely intelligent people with degrees from the nation’s most prestigious institutions. No, the real problem is conformity, a fear of stepping outside the bounds. This is the issue I had to confront in myself when, after years of competing, I achieved my goal of working at a major law firm—and realized it was the last thing I wanted.

This problem of conformity runs deep. Already in the time of Shakespeare the word ape meant both a primate and to imitate. The Aristotelian concept of biology held that man differed from the other animals in his greater aptitude for imitation. This is how we learn language as children: we imitate. This is how culture gets transmitted. But imitation can also go badly wrong. It leads to crazed peer pressure; it leads to the various insane bubbles our society has experienced. If there’s going to be progress, if there’s going to be new thinking in any direction, it requires something very different.

WSJ On What College Can Teach Aspiring Entrepreneurs #highered

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.

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.

@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.