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Program Overview Fall 2012. Some history… Launched in Fall 2005 Multidisciplinary entrepreneurship education was novel at the time Universities had tried.

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Presentation on theme: "Program Overview Fall 2012. Some history… Launched in Fall 2005 Multidisciplinary entrepreneurship education was novel at the time Universities had tried."— Presentation transcript:

1 Program Overview Fall 2012

2 Some history… Launched in Fall 2005 Multidisciplinary entrepreneurship education was novel at the time Universities had tried it with limited success Few examples of campus-wide programs at Purdue Largest multidisciplinary program in the country

3 Cumulative Enrollment in ENTR & Certificate Recipients Calendar Year

4 Enrollment by College in ENTR Source: Course Rosters (through Fall 2012) – Fall 2012 enrollment data is still fluctuating CollegeCumulativeSpring 2012Fall 2012 #%#%#% Technology89422%6420%5819% Management71518%4313%3010% Engineering57014%5317%8026% Liberal Arts48812%4915%299% Health & Human Sciences 45011%3411%3913% Agriculture3398%3210%279% Undecided/USP2797%196%176% Science2125%217%237% Pre-Pharmacy612%41%4 Other301%00%21% TOTAL %319100%309100%

5 Mission

6 Requirements 5 COURSES 2 CORE: THEORY AND PRACTICE ENTR Intro to Entrepreneurship and Innovation ENTR Marketing and Management for New Ventures 2 OPTION: DISCIPLINE OR INDUSTRY-SPECIFIC Examples: Technology Strategy Entrepreneurship and Business Strategy in Engineering Intellectual Property for Engineers Advanced Presentational Speaking Business Writing for Entrepreneurship 1 CAPSTONE: APPLICATION OF CORE AND OPTION Via courses or experiential learning programs Certificate awarded at completion and noted on transcript

7 Logistics 12 ENTR core sections per semester students each Ideal start time is sophomore or junior year Mix of faculty and lecturers over the years Integration with complementary programs –Entrepreneurial Learning Community –Interns for Indiana –Discovery Park Undergraduate Research Internship

8 How students find out about us Recruiting events –Purdues For Me –Introducing Purdue –Fall Preview Days –OUR Purdue –Destination Purdue Class visits and meetings –Interest Sessions –Introductory Classes –Sophomore Seminars –Engineering Peer Mentors –Ambassador Meetings

9 Real-world focus: Capstones ENTR Capstone: Co-led by practicing entrepreneur or venture capitalist Scott Jones, Boston Technology, Gracenote, ChaCha Don Aquilano, Blue Chip Venture Company Eric Davis, Kylin Therapeutics, In-vivo Ventures Chad Barden, Quadraspec, In-vivo Ventures Dennis Barket, Griffin Analytical/Icx Chris Beltran and Paroon Chadha, Passageways David Castor, Alerding Castor Hewitt Andy Clark, VP Right on Interactive Experiential learning Interns for Indiana Global entrepreneurship

10 Global Entrepreneurship and Innovation Beijing and Hong Kong – May Beijing and Shanghai – May Beijing – May 2008 South Korea – May 2007

11 Women and Leadership Majors represented: Management Communications Nuclear Engineering Photo & Related Media Selling & Sales Public Relations & Rhetorical Advocacy Computer Science Agricultural Economics Elementary Education Chemical Engineering Political Science Retail Management Industrial Engineering Behavioral Neuroscience Psychology Course launched by the Certificate Program and adopted by the Dept. of Communication Launched course in 2008 and mentorship program in 2012

12 Elevator Pitch Competition 6 th annual competition took place in April divisions – ENTR students and Grad/Staff/Faculty/Purdue Research Park & ENTR Alums

13 Speakers and Events Global Entrepreneurship Week Young Entrepreneurs Program Mentoring Program Indiana Venture Club Women Leadership Conferences Learning Community Activities Old Masters Recipient Reception Senior Send-Off

14 Other Activities Student Ambassadors Scholarships Grants/Research Student organization: Purdue Innovations K-12 engagement Speak to classes and groups Notable presence at state-wide events & competitions Networking opportunities through Collegiate Entrepreneurship Opportunities (CEO) program Facebook & LinkedIn groups First cohort of Certificate Program graduates (May 2007)

15 Perceived skills at entry and exit Source: Entry survey n=3101, Exit survey n=556 (through Spring 2012) 2 Below Average 4 Above Average 5 Excellent 3 Average

16 ENTR courses improved my… Source: Exit survey n=556 (through Spring 2012) Agree or Strongly Agree Analytical Skills81% Communication Skills87% Presentation Skills88% Ability to evaluate ideas94% Confidence that I can be an entrepreneur 90%

17 Among graduates… 23% are involved in a venture of some kind 81% are likely to be involved in a startup in the future 96% believe the skills and knowledge gained will be useful in their future careers

18 ENTR Course Evaluations 4 = Agree 3 = Undecided 5 = Strongly Agree 2 = Disagree 1 = Strongly Disagree Source: Course Evaluations – Spring 2012 I can apply the learning in this class to work in my future profession My instructor has an extensive knowledge of this field Collaborative work is a valuable part of this course

19 Satisfaction with Program AverageAbove Average Below Average Excellent Source: Exit survey (through Spring 2012) n=556

20 What did you like most? Being able to gain knowledge outside of my major. I loved sitting in a multidisciplinary classroom with a diverse group of students. It made me think in new creative ways. The amount of time it forced you to speak and step out of my comfort zone. Amazing experience! The relevant course work. I feel like out of all of the class I took at Purdue, these had the most useful coursework. The Capstone Course - Level of interaction with very successful entrepreneurs. The wide variety of outside speakers that shared different ideas. The most beneficial fact to me is coming out of the program with a business plan in hand. I liked the positivity and support surrounding the process of becoming an entrepreneur. All of the extra resources and events. Source: ENTR Exit Survey

21 Accomplishments Students have received national attention and awards - Hong Kong Polytech Business Plan Competition first place - Thiel 20 under 20 Fellowship - Shark Tank, The Big Idea, The Osgood Files, the New York Times… Many students recognized in Purdue Makers campaigns - Global Impact Makers, Difference Makers, Discovery Makers, New Venture Makers, Policy Makers, Innovation Makers, Path Makers and State-ment Makers Finalist for Techpoint MIRA award for educational contribution to technology

22 What weve learned… Target the right students Interdisciplinary collaboration is valuable Education as well as inspiration Need to highlight successes Requires institutional support Flexibility – things change

23 CURRICULUM

24 Requirements – 5 courses Required courses for all students (2 courses, 6 credits) ENTR Introduction to Entrepreneurship and Innovation ENTR Marketing and Management for New Ventures Option courses (2 courses, 6 credits) Within or outside major area of study Each school typically has at least one offering Capstone courses or experiences (3 credits*) ENTR Entrepreneurship Capstone Global Entrepreneurship Interns for Indiana Other approved courses *Students can alternately choose to do 1 option course with two 2 capstones

25 ENTR Course Content What is entrepreneurship? OverviewOpportunity RecognitionAssessment and Feasibility - Definitions - Characteristics of entrepreneurs - Role of innovation in economy - Trends, problems, needs, gaps - Markets - Disruptive innovation - Competition - Basic primary market research and competitive analysis - Intellectual property - Analyses of successes and failures ProcessTeams & LeadershipFinancial Viability - Legal structures for new ventures - Elements of the business model - Organizational culture - Leadership styles - Forecasting and budgeting - Elements of the business plan - Sources of funding

26 ENTR Course Content How do you do entrepreneurship? Business ModelsIdeation & DevelopmentBusiness Environment - How to create, deliver, and capture value - Business strategy - Role of collaboration and partnerships - Brainstorming - Visualization concepts - Prototyping - Testing - Industry forces Suppliers, competitors new entrants - Market forces Segments, switching costs - Macro-economic Capital markets, infrastructure - Global markets - trade and political issues Reaching the CustomerFinancial ManagementPitching to Investors - Customer insights - Primary and secondary research - Distribution - Media and promotion - Financial statements - Ratio analysis - Identifying sources of capital - Development of investor presentation

27 ENTR Course Content What is entrepreneurship like in the real world? Components of a Business Plan Capitalization and Sources of Funding Business Valuation -The value of the business plan -Audience -Pertinent market and financial data - Capital strategy - Financing alternatives - Venture capital formula - Importance of valuation in relation to capital strategy - Valuation methods Building a Management Team NegotiationInnovation and Growth - Personal business plan - Roles and personalities - Leadership traits - Leadership versus management -What investors are seeking -Process to pursue investors -Term sheets - Dynamics of innovation - Basics of intellectual property law - Commercialization process and strategy

28 Examples of Option Courses CourseCollege or Department Business Writing for EntrepreneursEnglish Principles of SellingAgricultural Economics Special Topics on BionanotechnologyAgricultural and Bio Engineering Advanced Presentational SpeakingCommunications New Business Ventures and the Law (no longer offered)Management New Product DevelopmentManagement Biotechnology Lab for EntrepreneursIndustrial Technology Engineering EconomicsIndustrial Engineering Project ManagementOrg. Leadership and Supervision E-RetailingConsumer Science and Retailing Entrepreneurship and Business Strategy in EngineeringCivil Engineering Intellectual Property for EngineersMechanical Engineering

29 Books we use Decision to Become an Entrepreneur Introduction to Entrepreneurship Developing Successful Business Ideas Recognizing Opportunities and Generating Ideas Feasibility Analysis Writing a Business Plan Industry and Competitor Analysis Developing an Effective Business Model Moving from an Idea to an Entrepreneurial Firm Preparing the Proper Ethical and Legal Foundation Assessing a New Ventures Financial Strength and Viability Building a New-Venture Team Getting Financing or Funding Managing and Growing an Entrepreneurial Firm Unique Marketing Issues The Importance of Intellectual Property Preparing for and Evaluating the Challenges of Growth Strategies for Firm Growth Franchising

30 Books we use

31 ENTREPRENEURIAL STUDENTS

32 Andrew Linfoot I didn't have an interest in entrepreneurship before coming to Purdue. Through the certificate program, I was given many opportunities to pursue my business ideas and there was a ton of help available along the way. After being involved in the entrepreneurship program, I am most certain that it is what I was to do for the rest of my life. Chemical Engineering Major, Sophomore Created Kyk Energy A flavorless energy powder that can be added to any drink. Launched OTS Repair (On the Spot Repair) Fast, convenient repair services for bikes on campus. Technicians go to the location. Has competed and placed in Burton D. Morgan Business Plan and Elevator Pitch competitions

33 Alvin Ang B.S. Chemical Engineering, 2011 Works at Bechtel Co-founder of three companies: AListPress, RollOut Green and Dentural –Zinc free, all natural denture adhesive, Competed in 10 different competitions and received $27,500 (placed in nearly half) –Dow Chemical Case –Soy Innovations –Danone Student Innovation –Burton D. Morgan Business Plan Competition –Elevator Pitch Competition Member of winning team in 2011 Hong Kong PolyU Innovation and Entrepreneurship Challenge This program is unique. You will never find such a structured entrepreneurial program that teaches the basics of being an entrepreneur and provides networking opportunities and resources that students need. I met venture capitalists, angel investors, serial entrepreneurs and inventors through this program. I was inspired to go above and beyond talking and start doing.

34 Sally Burns Heuss Purdue Universitys Entrepreneurship and Innovation Certificate is extremely beneficial to the entire student body. Having the opportunity to participate in the program, while also pursuing a degree in my field of interest, played a huge role in my decision to attend Purdue. The ENTR program allows students to have the best of both worlds; getting to learn about starting your own business while simultaneously earning your degree in your specific field. Apparel Design and Technology Major and Art Design Minor, Designs and sells handbags Handbag design intern at JennaClaire Studio Designed bags and now they are their top selling.

35 Tony Coiro I have really enjoyed the Certificate in Entrepreneurship and Innovation Program because the instructors say what they believe, mean what they say and encourage students to dream big. I consider ENTR 200 and 201 instructors my best contacts when it comes to asking business questions or just to bounce off new ideas Physics Major, 2012 Developed an electric motorcycle Participated in the Burton D. Morgan Business Plan Competition and China study abroad program Involved with Indy 500 in the development of an electric vehicle track Co-founded the Electric Vehicle Club and a member of the Purdue Innovations student organization. Head Physicist at Indy Power Systems – hybrid and electric vehicle batteries

36 Jim Danielson The Certificate program has taught me a significant amount of information that I am using to move this product forward. I am looking to start manufacturing small EV parts and selling them. I now know how to start up an LLC and market my idea. Also, the certificate program prepared me for the Burton D Morgan business competition. Electrical Engineering Major Created an electric Porsche 2009 –Uses no gas, is fully street legal and can reach speeds of up to 65mph –Purchased car on Craigslist for $500 and sold its engine parts for $500 –Rebate of $4000 from the Illinois state government brought total cost to only $2000 –Designed with classmate, Sean Kleinschmidt Semifinalist in the Burton D Morgan Business Competition President of the Purdue Innovations Club & co-founder of the Electric Vehicle Club Peter Thiel Fellow - $100,000 and sabbatical from college

37 Neil Mylet B.S. Agricultural Economics Launched LoadOut Technologies in 2009 –A smartphone industrial automation technology to monitor and control processes –Markets include grain terminals, feeding lots, aggregation, manufacturing, etc. Technology named one of the top 50 agricultural inventions in 2011 Featured onTruckingInfo.com, AgriNews, Farm Journal Magazine, iPhone Band, etc. Has 15 interns/recent grads from Purdue working with the company Purdues entrepreneurship program helped me turn my passion for agriculture into a vision for how I could utilize innovation to make a small contribution to the way mobile technology is utilized within the industrial sector. Through numerous speakers, instructors, and fellow students representing an array of different majors young people are provided a small glimpse of what life is like outside of the college bubble.

38 Shaun Greene The ENTR program at Purdue is one of the most helpful experiences that I had in college to prepare me for the "real world." The programs focus on sustainable competitive advantage really helped me to understand how the technical skills I learned in my engineering degree need to be put in the perspective of market opportunities, not just engineering merit. …In just 10 months after graduating and completing the program, I starting working for a company where I've been able to pitch improvement ideas to the president, work on inbound marketing with the marketing department, and give weekly updates on my project's status to the project's investors, while working on a team that I help coordinate. B.S. Electrical Engineering, 2010 Active in many Clubs/Groups –Purdue Science Olympiad –Engineering Co-op Program –Business Studies in London (study abroad) –Undergraduate Research in Power Electronics Currently is a Firmware Engineer for Indesign, LLC Indesign, LLC Plans for the future –I really enjoy the early stages of product development and design where concepts and decisions have the potential to set the project up for success and provide a better solution than anything currently in the market. My personal goals are to provide technology to people that makes things easier and simplifies tasks

39 Daus Aziz Actuarial Science Major, Junior Photographer and videographer Created a behind the scenes video of our annual Elevator Pitch Competition sOsDLiFNzQ&feature=youtu.behttp://www.youtube.com/watch?v=b sOsDLiFNzQ&feature=youtu.be Created a video of Beautiful Purdue Currently used at different recruitment events. RoMwRNEURI&feature=channel_v ideo_titlehttp://www.youtube.com/watch?v=_ RoMwRNEURI&feature=channel_v ideo_title Being a student in Certificate Program has been one of the best decisions that I've made. This program not only acts as a platform on how to make your ideas happen, but also gives you valuable skills & experiences to prepare for your life and career in the world of entrepreneurship."

40 Marisa Strupp I believe my entrepreneurship education really impacted me in the professional world. To be more specific, it has helped me grow confidence when meeting other professionals. Also, my presentation and leadership skills have grown because of the teamwork within the certificate classes. Overall, the program has given me an edge! Public Relations and Rhetorical Advocacy Major & Spanish Minor Served as Vice President at Purdue for The American Advertising Federation chapter The Public Relations Student Society of America chapter Working for BLASTmedia – PR and social media firm Interned since January Working on YouTube research campaigns, social media content and blogging.

41 Sawyer Sparks The Certificate Program has given me the opportunity to hone my entrepreneurial skills. Theres always someone offering great advice. Agricultural Economics Major Minor, Political Science Launched Soy-Yer Dough in 2008 –A gluten-non toxic modeling compound aimed at children with allergies, previously known as Soy-Doh –Has sold over $80,000 containers – customers include the National Geographic Museum –Broke ground for a 6,000 sq. ft. manufacturing facility in his home town in Spring 2010 –Purchases all materials within US Appeared on ABCs Shark Tank Participated in Elevator Pitch Competition, IEDC Collegiate Bootcamp Other businesses –Greene BioFuels, S&T Feeds, BioBLING SunSpa

42 Eric Vong Dave and I were talking one day, and he thought it would be a great idea to start a business that involved an everyday customer product and aid a mission. He didnt have the business background to get something off the ground, and I was able to use what I learned in the entrepreneurship certificate program to help get things launched. B.S. Management Major, 2010 Currently a consultant with IBM Global Business Services Co-Founded SoapBox Soaps in 2009 –with Dave Simnick, a childhood friend For every bar of soap sold, they deliver a bar to a child in need somewhere in the world Works with manufacturer that provides handmade, certified organic soaps Working with the Clean World Foundation to distribute its product domestically and internationally

43 Andrew Wynn Communication Major & OLS Minor Active in student and volunteer organizations –Purdue Exponent and Family Services Serving as a Peace Corps Small Enterprise Development Volunteer in the West African nation of Senegal. –Recognizes the important of innovation and entrepreneurship in the global economy Long term goals include obtaining additional education in International Development & one day working for either the United States Foreign Service or the United Nations The skills and concepts I learned from the Certificate Program will be directly applied to foster innovation and promote the spirit of entrepreneurship in a region desperately in need of economic development. Current systems in many developing nations have created a culture of reliance on handouts by government, charity and non-government organizations to facilitate business. By applying knowledge learned from the Certificate Program, I will encourage sustainability among entrepreneurs and small businesses in growing economies.

44 ENTREPRENEURIAL STUDENTS AND ALUMS

45 THANK YOU FOR MORE INFORMATION OR TO GET INVOLVED, PLEASE CONTACT: NATHALIE DUVAL-COUETIL ASSOCIATE PROFESSOR, TECHNOLOGY, LEADERSHIP AND INNOVATION DIRECTOR, CERTIFICATE IN ENTREPRENEURSHIP AND INNOVATION PROGRAM ASSOCIATE DIRECTOR, BURTON MORGAN CENTER FOR ENTREPRENEURSHIP

46 Certificate Requirements – 5 courses Required courses for all students (2 courses, 6 credits) ENTR Introduction to Entrepreneurship and Innovation ENTR Marketing and Management for New Ventures Option courses (2 courses, 6 credits) Within or outside major area of study Each school typically has at least one offering Capstone courses or experiences (3 credits*) ENTR Entrepreneurship Capstone Global Entrepreneurship Interns for Indiana Other approved courses *Students can alternately choose to do 1 option course with 2 capstones

47 What do we teach? Decision to Become an Entrepreneur Introduction to Entrepreneurship Developing Successful Business Ideas Recognizing Opportunities and Generating Ideas Feasibility Analysis Writing a Business Plan Industry and Competitor Analysis Developing an Effective Business Model Moving from an Idea to an Entrepreneurial Firm Preparing the Proper Ethical and Legal Foundation Assessing a New Ventures Financial Strength and Viability Building a New-Venture Team Getting Financing or Funding Managing and Growing an Entrepreneurial Firm Unique Marketing Issues The Importance of Intellectual Property Preparing for and Evaluating the Challenges of Growth Strategies for Firm Growth Franchising

48 Certificate Program Ecosystem National Collegiate Inventors and Innovators Alliance National Science Foundation Lilly Endowment, Inc. Kauffman Foundation Competitions Elevator Pitch BDMCE -Business Plan Soybean Innovation Certificate in Entrepreneurship and Innovation Program Launching Tomorrows Leaders – enhancing student success in careers Promoting Discovery with Delivery – economic development & entrepreneurship Meeting Global Challenges – addressing grand challenges of humanity Global Study Abroad China Mexico Italy Denmark Ireland Research Funding Academic Excellence Experiential Opportunitie s Student Scholarships Curriculum Development Grants New Courses Global Women & Leadership Entrepreneurial Capstone Engineering 20/20 Community Entrepreneurial Learning Community ENTR Rated Top 5 Course Entrepreneurial Community K-12Alumni Entrepreneurship Boot Camp for Veterans Small Business Development Military Family Research Institute Internships DURI IFI Young Entrepreneur s Program Womens Mentoring Program Economic Development Administration National Science Foundation American Council for International Education Student Groups Purdue Innovations Electric Vehicle Synapse Engagemen t

49 RATE YOUR ENTREPRENEURIAL ABILITY Source: Entry survey n=3101, Exit survey n=556 (through Spring 2012)

50 John Bohlmann The Certificate in Entrepreneurship and Innovation Program helped give me the contacts and presentation experience needed to launch my own technology venture. College is the best time to start a business, and Purdue's Certificate Program proves why. B.S. Computer Science Co-Founder of the Digital Literacy Contest –Participants to compete, find and evaluate information online, beyond the use of Google Created the Digital Democracy Contest –Digital Literacy Contest spin-off that encouraged citizenship among high school students Created Coding Cognitions –A blog dedicated to coding Currently developing a business to improve human & computer interactions (a new way of interacting with mobile devices) Member of the Purdue Innovations Club 2008 Burton Morgan Business Plan Competition Winner Recipient of the MacArthur Young Innovators Award Currently working at Booz Allen and Hamilton

51 Kristeen Hudson and Brian Paplaski Without the Certificate Program, MissionMatchUp would have never gotten off the ground. The program gave our team the fundamental knowledge and confidence needed to start the company, which has been one of the most rewarding things we have done while in college. We would have never pursued this avenue without the encouragement of the Certificate Program faculty. Graduates, May 2009 –Kristeen, B.S. Computer Graphic Technology Employed by Exact Target in Indianapolis –Brian, B. S. Accounting and Finance Employed by Morningstar in Chicago Launched MissionMixUp in 2008 Social networking and fundraising site for people interested in mission trips Participated in the 2009 Certificate Program Elevator Pitch Competition 2009 Winners of the Burton D. Morgan Business Plan Competition

52 Byron Young Management Major & Marketing Minor President of the Society of Minority Managers One of 200 students nationwide chosen as a Career Preparation Fellow by Management Leadership for Tomorrow Working for Target as a merchandise planning business analyst He will analyze trends, forecast inventory and negotiate purchases Interned at Target over the summer Receive the Intern of the Year Award Active in the Lafayette Urban Ministry The certificate program helped me to understand new enterprises, how to think innovatively and how to write business plans, Byron says. That experience, combined with my concentration in marketing, has taught me to be both an entrepreneur and an intrapreneur. Im going to be excited to go to work every day.

53 John Bohlmann The Certificate in Entrepreneurship and Innovation Program helped give me the contacts and presentation experience needed to launch my own technology venture. College is the best time to start a business, and Purdue's Certificate Program proves why. B.S. Computer Science Co-Founder of the Digital Literacy Contest –Participants to compete, find and evaluate information online, beyond the use of Google Created the Digital Democracy Contest –Digital Literacy Contest spin-off that encouraged citizenship among high school students Created Coding Cognitions –A blog dedicated to coding Currently developing a business to improve human & computer interactions (a new way of interacting with mobile devices) Member of the Purdue Innovations Club 2008 Burton Morgan Business Plan Competition Winner Recipient of the MacArthur Young Innovators Award Currently working at Booz Allen and Hamilton


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