New MA in Music Entrepreneurial Studies

As it becomes clear that students and society want more entrepreneurship and innovation, higher education obliges. Azusa Pacific University, keying on its location near Los Angeles, has announced a new Master of Arts in Music Entrepreneurial Studies. From APU

“Given the immense growth of independent music in all genres and the lack of innovation in traditional record labels, we see a huge opportunity for independent artists to compete directly with major label music acts,” said Henry Alonzo, MBA, director of the Music Entrepreneurial Studies Program and assistant professor in the School of Music. “By exploring independent study and work internships within the music industry and collaborating closely with experienced industry professionals, candidates learn to run their careers in music as a small business, which is invaluable in today’s market.”

An expanding music industry ensures higher employability and profitability rates for music entrepreneurs, and for aspiring music professionals, the Los Angeles area is an optimal location to gain industry experience. According to the Bureau of Labor Statistics, the L.A. metropolitan area represents the second highest rate of employment for musicians and singers, as well as music directors and composers, and the number one rate of employment and profitability for sound engineers. APU’s close proximity to Los Angeles gains program candidates easy access to the central hub of entertainment innovation in the U.S.

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Is Small Biz the Future?

In some discussions with an esteemed entrepreneurship researcher, I wondered what we are missing as analysts, researchers, educators, citizens, economic beings in today’s US? After some reflection, we began to discuss whether the drive to find, support and exploit innovation (the Schumpterian type) we had overlooked/missed the importance of small business? Traditional, local, stable small business? Had our global, consumer, and technological marvels drawn us away the humble, democratic supporting small business operators? (Reminder: I am reading David Potter’s People of Plenty).

I had begun thinking about this during Spring 2017 when I taught an undergraduate course in Small Business. Beyond accounting, finance, marketing — this course included a focus on family business, franchising, legacy (generational time horizons) and some other small business specific issues — topics that innovators, startup weekend participants, hackers, and sharks —  pushing to disrupt the world —  don’t generally talk or think about. Much of it was refreshing and more substantive and tangible when compared to our lean wielding, customer interviewing founders.

The reality is, many of the students we teach in class and work with in our extra and co curricular programs — competitions, accelerators — are building small ventures.

We also see a trend towards students working with their hands — from 3D printing and electronics to sewing and graphic design. These great new opportunities, evidenced by makerspaces and labs of all sorts, dovetail well with my epiphany on the importance and role of small business.

The Christian Science Monitor has a really interesting piece on manual labor being a hot new job for middle class students. My own foray into mechanical typewriters and work with a variety of founders highlights the shortage (and now high cost) in some fields where manual labor is required. Schuyler Velasco offers a fascinating Economy story on manual labor and visits the North Bennet Street School in Boston

Miranda Harter, a 2016 NBSS graduate, worked in retail inventory before enrolling in the school’s jewelry program. She’d be tasked with cataloguing accessories in an online database, mind-numbing work that put what she was missing in her career literally at her fingertips. “I was looking at these beautiful pieces of jewelry come across my desk, and I thought, I want to be making these things,” she remembers.

Ms. Harter now works full-time for a local jeweler in Somerville, and the owner allows her to use the space to make and sell her original pieces. It’s already proven more stable than her old job, which she lost during the Great Recession. “I’m working solid regular hours, I have a weekend, a boss who appreciates me,” she says. “That’s not something I experienced a lot in the retail world. To me, it seems like an honest profession, and more recession-proof. People are always getting married.”

Ms. Fruitman at NBSS says 30 is the average age of the student body, which means an “awful lot” of it is made up of career transitioners like Harter. “They’ve done college or some college, it wasn’t for them, or maybe they’ve even been out there working and realized that whatever it is they’re doing just isn’t satisfying.”

Fruitman is also describing herself. Before becoming a furniture maker, she majored in theater at Emerson College and worked as a photo stylist until the work dried up.

“I was at the point where I really wanted to do something that was tangible,” she says. “I didn’t know you could do this. I went to college because that’s what everybody does. And that’s what I was expected to do.”

Ocejo heard similar stories while profiling barbers, butchers, and high-end cocktail bartenders in Manhattan.

Richard Ocejo, a sociologist and the author of the new “Masters of Craft: Old Jobs in the New Urban Economy,” is featured in the piece. I am definitely going to download a sample on my Kindle app.

George Mason Bees / Social Entrepreneurship

As part of my job I work with innovators from across society and the economy. People working on solving problems big and small.

I’ve been fortunate to work with the Mason Honey Bee Initiative (HBI) for a few years (helping them complete a crowdfunding campaign in 2013) and six months ago the Center for Innovation and Entrepreneurship at the George Mason School of Business, partnered with the College of Science and took over the Mason Honey Bee Initiative.

This program has many elements — from pollination courses to work teaching women in latin american to become bee keepers in order to make a living to provide for their families.

It is an exciting time for our Center and for the HBI as evidenced by recent media coverage..

A story by Michael Gaynor from the Washingtonian outline’s HBI and German Perilla’s efforts to find queen bees that are more resistant to colony collapse syndrome. More:

The honeybee has been facing a crisis brought on by parasites and pesticides. From 2015 to 2016, 44 percent of the commercial bee population died—a dire statistic considering that more than two-thirds of food crops rely on bees for pollination.

To save the species, Perilla is on the hunt for “the perfect queen.” He’s mating bees from the most robust hives to create a genetic standout that can birth a hive resistant to pests and disease.

But the Honey Bee Initiative is about more than science. Perilla’s students have traveled to the Amazon to teach beekeeping to women entrepreneurs in poor areas. Others studying anthropology, education, public policy, and even art have done projects. This year, engineering students took part in a campus hackathon, building a custom “smart hive” to better monitor the bees.

Another media piece, from Northern Virginia Mag, that explains HBI’s work with Covanta to reestablish meadow space in Fairfax County, VA on the property of a landfill. From the article by Eliza Berkon;

There are 12 colonies of honeybees at the landfill traveling in a 2-mile radius around the Lorton site as they forage, Perilla says. Both Fairfax County and Covanta, the private company that transfers waste into ash at the landfill, are funding the project.

“This is the first time we are trying to convert a landfill into a productive ecosystem,” Perilla says. “The hope is to at least double the population, have productive apiaries and have a little more acceptance of the people regarding the perception that they have of a landfill.”

DMV 100 Student Meetup | SkyFarm Interactive | #studentfounders

We attended an amazing meetup and student pitch event on Thursday March 30 at the DMV100_sign_entranceGoogle offices in DC near Union Station — the 100 student DMV meetup.  There were students from Georgetown, American University, George Washington University, Catholic University, Gallaudet University, the University of Maryland, George Mason University, Johns Hopkins University, Howard University and the University of the District of Columbia.

Our colleagues at AU and GWU did the heavy lifting in organizing this meetup and pitch event, as did our hosts from the Google Policy Office.

Eight student ventures from 8 different schools pitched a range of new ventures — from a convenient, dave_100_pitch‘on-the-go’ makeup kit to solar energy in Africa — problems were identified, solutions offered, and market sizes assessed. There was energy and passion in the room and it highlighted how active today’s students are and how responsive our best universities are to the demands of students and the entrepreneurial economy.

David Martell, a finance student at Mason presented his firm,  SkyFarm Interactive, and his vision of a new family friendly digital world — a Disney for today and tomorrow. SkyFarm Interactive, and its main character, Duncan the Silly Duck, can be found in the iTunes sticker store!

Campus as Entrepreneurial Ecosystem: the University of Chicago

Even though the University of Chicago does not have a school of engineering, it has become a leading startup university. Groupon, GrubHub, Braintree Financial and other high growth, student created firms have come of of the University of Chicago in recent years and the end is nowhere in site.

Check out my new paper: The Campus as Entrepreneurial Ecosystem: the University of Chicago to learn more about Chicago and how the US campus has become the hottest entrepreneurial ecosystem around. Here is a snippet:

In March 2016, Forbes Magazine released its list of the world’s billionaires. Simply perusing the 100 richest people in the world suggests that student entrepreneurs from US colleges and universities have impacted the world as much as any cohort on the list. The outsized impact of students that began the firm formation process on campus is glaring. Bill Gates, co-founder of Microsoft, is #1 in the world, with Mark Zuckerberg of Facebook at #6 while the Google founders come in at #12 and #13 (“The World’s Billionaires,” 2016). Just a short leap away is Phil Knight of Nike at #24 and Michael Dell at #35 with Paul Allen, who left Microsoft in the early 1980s after co-founding the firm with Gates, at #40 spot globally (“The World’s Bilionaires,” 2016). There are many others on the list that trace their wealth to student created firms at US universities. While there is a diversity of founders and fields of studies from a range of years and universities, their ventures were begun on a campus entrepreneurial ecosystem in the US.

 

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.