Why entrepreneurship? For the community Historically (1990-2011), Ventura County recognized as having one of the highest startup densities per capita (Kauffman Foundation, Nov 2013) Two of the most effective start-up hubs to the north (Santa Barbara) and south (Santa Monica) – opportunity to fill vacuum AND leverage network connections State of CA economic policy hostile to large and growth-stage companies, making entrepreneurship an economic imperative Contribution to the local / regional economy by fostering start-up and (down the road) job creation For Cal Lutheran Open new career pathways for Cal Lutheran students Entrepreneurship education is different – start-ups are not smaller versions of big business Opportunities for collaboration across disciplines at Cal Lutheran Opportunities for research Differentiation from competitors
Westlake Center ~9,000 sq foot facility Hybrid co-work, office, classroom and event space Designed for collaboration In Westlake Village, 20 minute drive from main Thousand Oaks campus, in a commercial office space On two borders: Southern end of CA Central Coast Northern end of LA Basin Close to the freeway
Westlake Center is our lab Classrooms Conference Rooms Events Co-Work (fee) Available Resources
Living the Boulder Thesis Boulder Thesis says…… We found… 1. Entrepreneurs Lead Entrepreneurs too widely dispersed, being a start-up community leader isn’t easy. Finding leaders from non- entrepreneurial sources. Our definition: Leaders Start Stuff 2. Long-Term Commitment Difficult for everyone, not just feeders. Surprisingly, adversity can force a long-term view. 3. Inclusive Trying. Audience leans older than expected. Most meetings open to everyone. Hard to be completely inclusive until you have enough leaders. 4. Continuous EngagementDependent on finding leaders. > Not the end! 5. Give first Extremely important at the start. 6. Embrace weirdness/start traditions (especially weird ones). E.g…
Entrepreneurship Center Business Model Value Proposition Customer Relationships Customer Segments Channels Key Resources Key Activities Key Partners Cost Structure Revenue Sources Huddle Campus Government Universities Service Providers Large Companies Sponsors Entrepreneurs Students Investors Mentors Events Programs Education (Duh!) Research Facility The Right Mentor Teachers Connectors In Person, as often as possible Direct, as often as possible Job Creation Wealth Creation Knowledge Creation Local Economic Vibrance Societal Advancement Tuition Donors Grants Co-work Rent Event Fees Space Rental Space Operation Faculty Salaries Admin Salaries
Strategic Initiatives: Academic Commitment from the top Curricular – School of Management BBA/MBA Entrepreneurship Concentration MS/MA Entrepreneurship – Rest of Campus: Entrepreneurship Minor – Not locked into one teaching method Co-Curricular – Mentor Center – need an app for this – Internship Extra-Curricular – Student Entrepreneurship Club – New Venture Competition – University Partnerships (Engineering) Research – Liberal Starts: Entrepreneurship for the humanities & fine arts
Strategic Initiatives: Community Start-up (Huddle Campus) – Co-work – Acceleration (~12 weeks) – Incubation (up to 1 year) – Mentor Center – Entrepreneurs in Residence Hosted Events – Entrepreneur Speaker Series – Startup Weekend – Entrepreneurship Summit – Meetup Groups Ruby Drones Many others – Industry and Community Events ACG LAVA IEEE Seminars Capital Sources – Grant Seed Fund (Foundation) Gifts from donors Grants to founders Gifts from exits – Investment Fund University spin-out’s All of SoCal – Sponsors Need: – More engineers – More spaces like ours – Makerspaces – Downtown
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