Open2012 first-year-review-innovation-program
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Transcript of Open2012 first-year-review-innovation-program
First-year review of a new living-learning entrepreneurship and innovation program for Honors College freshmen and sophomores at the University of Maryland
James Green, Director – Entrepreneurship Education, Mtech & Hinman CEOs Program Jay Smith, Director – Entrepreneurship & Innovation Program
Jaclin Warner, Coordinator – Entrepreneurship & Innovation Program
Agenda• Genesis and Goals • Student Recruitment-Selection• Living Community• Learning Curriculum• New Venture Creation• Lessons Learned
Entrepreneurship and Innovation Program (EIP) eip.umd.edu
Genesis & Goals • The Entrepreneurship and Innovation Program (EIP) is a
two-year, freshman-sophomore living-learning program serving approximately 70-75 students per class year– Launched in fall 2010 to meet surging demand for
undergraduate courses and programs in entrepreneurship and innovation at UMd and throughout the country
– Help build students’ entrepreneurial skills in opportunity discovery, creativity, innovation, and venture creation
– Awarded Honors College-EIP citation upon completion
• Joint program of the University of Maryland Honors College and the Maryland Technology Enterprise Institute (Mtech) of the A. James Clark School of Engineering
~ 1,000 students/class year = ~ 4,000 students (1/6 of total undergrads)
Fall2010
Fall2010
Fall2011
Expansion of Honors College Thematic LLPs
70-75 70-75 70-75 70-75150-200 400-500FreshmanCohort
UMd Strategic Plan Alignment• GOAL 1: THE UNIVERSITY WILL IMPLEMENT A NUMBER OF INITIATIVES TO IMPROVE THE QUALITY OF
UNDERGRADUATE EDUCATION. OUR PROGRAMS WILL BE COMPREHENSIVE AND CHALLENGING, WILL MATCH OR EXCEED STUDENTS’ LEARNING GOALS, AND WILL SERVE THEM WELL AS A FOUNDATION FOR THE WORKPLACE OR ADVANCED STUDY AND FOR A MORE FULFILLING LIFE.
• GOAL 2: THE UNIVERSITY WILL ATTRACT A LARGER POOL OF APPLICATIONS FROM ACADEMICALLY TALENTED STUDENTS, ENROLL MORE STUDENTS FROM UNDERREPRESENTED GROUPS, ENROLL AN INCREASINGLY STRONGER GROUP OF FRESHMAN AND TRANSFER STUDENTS, AND BECOME THE SCHOOL OF CHOICE FOR MORE OF THE HIGHEST ACHIEVING STUDENTS GRADUATING FROM MARYLAND HIGH SCHOOLS.
• GOAL 3: THE UNIVERSITY WILL SET HIGH EXPECTATIONS FOR STUDENT SUCCESS AND WILL ACT TO ENSURE THAT UNDERGRADUATE STUDENTS MEET THEIR EDUCATIONAL GOALS IN TIMELY FASHION.
• GOAL 4: PRIMARILY THROUGH THE LEADERSHIP OF THE STUDENT AFFAIRS DIVISION THE UNIVERSITY WILL CREATE A NOURISHING CLIMATE THAT PROMOTES THE PERSONAL GROWTH OF STUDENTS AND ENCOURAGES THEM TO PARTICIPATE IN THE WEALTH OF SHARED SOCIAL, ATHLETIC, CULTURAL, AND TRADITIONAL ACTIVITIES THAT PROMOTE A SENSE OF COMMUNITY AMONG THE STUDENT BODY.
Living-learning programs can have significant impact on
“students’ perceived openness to new ideas and concepts.”
(Inkelas, Johnson, et.al. 2006)
Funding
• Total $235,000 / year– Provost/Honors College: $175,000– A. James Clark School of Engineering $25,000– Mtech $35,000 (in-kind operational support)
• $1,567/ student at 150 student capacity– ½ of Hinman CEOs per student rate
• Facilities remodeling funded additionally by Resident Life
Maryland Technology Enterprise Institute
Education- Hinman CEOs- Entrepreneurship & Innovation Program- Hillman Entrepreneurs- Entrepreneurship courses- Tech Startup Boot Camp - Business Plan Competition- Tech. Entrepreneurship Minor
Venture Development- TERP Startup Lab- Venture Accelerator (VA)- Tech. Advancement Program On-campus Incubator (TAP)- 2nd Stage Incubator (TVB)
Industry Partnerships- Product R&D (MIPS)- International Incubator (MI2)- Biotech Scale-Up and Education (BREP)- Manufacturing (UMMAP)
Entrepreneur Office Hours, MIPLRC, Mentoring, Seed & Venture Funding, Venture Fairs
~$28 billion impact since 1983
Entrepreneurship & Innovation Ecosystem
Mtech.umd.edu
Gap in Mtech Education Offerings
2011: Technology Entrepreneurship Minor
69 freshmen applied for the Hinman CEOs program (2008)
• LIVE with aspiring and active entrepreneurs
– Dynamic residential experience– Incubator setting– On-demand mentoring and coaching
• LEARN in a vibrant experiential environment
– Courses, seminars, competitions, workshops, internships, and volunteering
• LAUNCH real companies– 25% of students launch revenue-
generating new ventures while still in the program
– All develop skills and relationships to launch and manage startups and corporate ventures throughout their career
EIP is based on Mtech’s award-winning Hinman CEOs LLPthe Nation’s 1st Living-Learning Entrepreneurship Program
Hinman CEOs launched in 1999 to foster undergraduates’ entrepreneurial spirit, create a sense of community & cooperation for student entrepreneurs, & develop leaders
Senior Mtech Leadership Support
Jay A. Smith, Director25+ years international business innovation and entrepreneurship
• Educator– Joined University of Maryland June 2010– 5 yrs. Assoc. Prof. Kagoshima (National) Univ., Japan
• Program endowed by founder of Kyocera, KDDI, Kyoto Prize
• Entrepreneur: Co-Founder Tokyo-based Internet Co• Advisor: Management consultant - NY/NJ & Tokyo• Finance: Sr. VP Investment Banking – Jefferies & Co., SF • BA, Rutgers – Honors in Economics & Physics • MBA, Harvard Business School
Jaclin (Jackie) WarnerCoordinator
• Rejoined University of Maryland Dec. 2010• Coordinates EIP operational functions, marketing
initiatives, curricular support, and related activities • Held roles in advising, academic and student affairs,
and project coordination at UMCP, UMUC, and Bowie State
• BA & MA in sociology from Stanford University• MBA, Darden Graduate School of Business, UVa.
– Launched Batten Institute Incubator company
EIP Student Profile• Freshman & Sophomore Cohorts
– 70~75 students per class year (140~150 total at full load) (vs. 90 Hinman CEOs)
– 70% from Maryland (vs. 74% for University overall)– Currently 2/3 Male, 1/3 Female – Singers, Dancers, Musicians, Athletes, Designers, “Hackers”
• Diverse majors, double-majors, double-degrees – Business (~35%) , Engineering (~35%) – Arts, sciences, and humanities (~30%)
• Honors students - highest academic performers at UMD– Sophomore, junior, senior credit standing– High credit loads in challenging majors– 17 % Banneker Key academic scholarships– 28% had 4.0 GPA after first semester, 25% 4.0 GPA in third semester– 60% had 3.5 or above in first semester, 90% had 3.0 or above
• Aspire to start ventures/be entrepreneurial/innovative in careers
Student Recruitment-Selection:Multi-Step Entry Process
~25,000 Apply to UMd
by 11/1 Early Decision Date
~10,000Accepted to UMd
~3,000
Invited to Honors College
~2,500 Stu
dents
Rank LLP Preferences
LLP Directors Invite
based
on Profiles , Targets
Students Matriculate
No Separate Application
EIP looks for desire, goals, entrepreneurial experiences/drive, leadership, diversity.
Near 100% of 1st preference acceptance to date (33% yield)
Increasingly AttractiveYear: 1st Pref. EIP2010 1842011 2402012 290 (est.)
High School Outreach
• Open houses• Banneker/Key Days• Maryland Day
Young Scholars Program!
• Campus Visits• Email/advertising• Student-student
Online Resources
• eip.umd.edu • [email protected] , mail list• Twitter: eipumd• Facebook:
– Entrepreneurship & Innovation Program page – EIP group
• Mtech.umd.edu (Mtech info)• honors.umd.edu (Honors College info)
– listserv.umd.edu/archives/umhonors.html
EIP MissionTo foster an entrepreneurial spirit, create a sense of community and cooperation, and develop ethical and innovative leaders.
Entrepreneurship as means to:
• Personal Development – Self-knowledge, Self-discovery – Self-expression, Self-actualization
• Academic and Professional Development– Applying entrepreneurial mindset and innovation to all academic
and professional pursuits– Leaders and change makers in their fields
• Venture Creation and Development– Launching business at university or afterward– Create positive change in the world
“I believe that we can use television and film to be an influence for good; that we can help to shape the thoughts of children and adults in a positive way.”
Jim HensonUMd ‘60
Creativity Leverage Impact⋅ ⋅
Living Community
Building the Living Community• All students required to reside in the program residence hall for their
freshman and sophomore years. – Unique among Honors LLPs – Invaluable to community building – Requirement based on Hinman CEOs experience
• Program offices, some classrooms and other facilities in residence hall – Retrofit of existing spaces– Facilitates mentoring and coaching– Creates an incubator-like setting
• Coordinate with Resident Life & Resident Facilities at multiple levels– Activities: Senior staff, community director, residence director, RAs – Issues: Resident room assignments, rights, responsibilities, adjudication– Facilities redesign planning process - primarily funded by Res. Facilities
La Plata Hall, North Campus
New Fall 2011: Honors College Community (EIP, GEMS, ILS, UHP)
College Park ScholarsCommunity
(Mtech HQ)
(TAP Incubator)
+ Air Conditioning
Built 1968
EIP Residents - Floors 2-4
EIP, ILS, HC Resident Life Offices - Floor 1
Newly Built Work/Study Team Rooms
Learning Curriculum• Experiential-learning model which includes:
– Living-learning community – Honors-level courses and seminars– Guest speakers, case studies, simulations, workshops– Creativity and design projects– Team-building/leadership development activities– Business competitions and venture creation activities– Internships, volunteer activities on campus and in DC area– Hinman, EIP alums as teaching assistants
• 15 credits required for completion of the program – 9-credit series of 4 courses created exclusively for EIP student cohorts across
their first four semesters– 6 credits (2 courses) honors seminars– 1 credit HEIP 100 discontinued from fall 2012
Entrepreneurship & InnovationProgram (EIP)
Entrepreneurship & InnovationProgram (EIP)
Internships w/ Startups
& VCs
Internships w/ Startups
& VCs
Seed FundSeed Fund
Facilities & EquipmentFacilities & Equipment
International
Perspective
International
Perspective
Tools & Resources Tools &
Resources
Events & Competition
s
Events & Competition
s
Entrepreneur Office Hours
Entrepreneur Office Hours
Law & Accounting
Services
Law & Accounting
Services
Student Leadership Opportuniti
es
Student Leadership Opportuniti
es
Small Group
Discussions
Small Group
Discussions
Alumni ProgramsAlumni
Programs
AcademicsAcademics Philanthropy
Philanthropy
Coaching & Mentoring
Coaching & Mentoring
Surround the Student
Plus 2 Honors Seminars or I-Series courses (6 credits), totaling 15 credits (from fall 2012)
Core Curriculum
(1 section) (3 sections)
(3 sections) (2 sections)
Course Assignments
HEIP 143 Foundations of Entrepreneurship & Innovation (1 credit, 1 section of 70-75)• Lecture, Guest Speakers, Discussions, Video• Admired Company• Business Ethical Conflicts/Issues• Leader in your life• Expectations for 2030, Desired 2030• Life Cards• Leadership Style Assessment (Bateman Snell)• Entrepreneur Interview• Entrepreneurial Plan (Timmons Spinelli)
HEIP 144 Contemporary Issues in Entrepreneurship & Innovation (3 credits x 3 sections 10-28 students)• Lecture, Discussion, Projects, Video• Sources of Innovation (Drucker)• Attend events & competitions (BPC, DOE, SVC)• Campus problem solving (bottlenecks, process)• Marketing an intangible (brand value, ideavirus)• Redesign the alphabet (lateral thinking)• Product development case (United Beverages)• Rapid prototyping a solution (IDEO)• Final: Innovative solution to important issue
HEIP 240 Exploring International Entrepreneurship & Innovation (3 credits x 3 sections 10-28 students)• Lecture, Guest Speakers, Discussions, Video• Skype sessions • Case studies• Business simulations (Go Venture)• Cumulative team international project
– Business concept with international aspect(s)– Opportunity and market analysis– Business model, marketing, operations– Financials and implementation plan
HEIP 241 EIP Capstone: Creating Enterprise with Social Impact (2 credits x 2 sections 25-38 students)• Lecture, Discussion, Projects, Guest Speakers• 8 Case studies: Walmart, White Dog• Reaction and opinion papers• Attend events & competitions• Cumulative team double/triple bottom line project
– Business concept with international aspect(s)– Mission, Opportunity and market analysis– Business model, marketing, operations– Financials and implementation plan
FALL Spring
Fres
hman
Soph
omor
e
Venture Creation
• In-class team projects develop skills, ideas• Mentoring and coaching to help students in
founding and managing start-ups • Venture creation events and support activities• Companies are 100% student-owned
– No equity sharing with university– No fee for participation in the program
• ~10% of students involved in developing ventures• On-campus and DC area internships
Support Programs and Activities
• Networking Events• EIP Start-up subgroup/workshops• Entrepreneur office hours• TERP Incubator• UMd School of Law legal services team• Mtech Impact Seed Fund (Up to $50,000/year)
– Business concepts that provide social impact– $500-$5,000 for R&D, prototyping, legal, marketing
Lessons (Being) Learned
• Dual Parentage Benefits/Challenges• Resident Life - historically separated
– Communications challenges– Mixed EIP/non-EIP floors
• Building constraints• IP issues: disclosure, co-claimant, first-to-file• Students’ different majors, skills and goals• Ongoing adjustments based on feedback/results
– ~10% attrition: housing, course load, priorities
Assessments
• Student quick intro survey (at entry)• Course evaluation (mid-course, semester)• Program longitudinal survey (annual)• Report to provost (annual)
Longitudinal Survey
98% agreed or strongly agreed
eip.umd.edu
Additional Resources
• eip.umd.edu (general EIP info)• [email protected]• Twitter: eipumd• Facebook:
– Entrepreneurship & Innovation Program page – EIP group
• Mtech.umd.edu (Mtech info)• honors.umd.edu (Honors College info)
– listserv.umd.edu/archives/umhonors.html
eip.umd.edu
EIP: A Great Place to LaunchENTREPRENEURSHIP & INNOVATION PROGRAM
• Honors College + Maryland Technology Enterprise Institute (Clark School of Engineering)– New Honors College Living-Learning Program launched Fall 2010– Mtech: $28 billion impact on the Maryland economy since 1983– Based on Mtech’s award-winning Hinman CEOs living-learning program for juniors and seniors
• Develop entrepreneurial spirit, community, cooperation, and ethical, innovative leaders– Educate: Experiential learning, leadership, management, creativity, case studies, internships – Create: New products/services, new businesses, seed funding, coaching, mentoring – Connect: Speakers, events, competitions, group activities, professional networking
• For any entering Honors College student interested in entrepreneurship and innovation– Diverse Majors: Business, Engineering, Sciences, Psychology, Math, Government, Linguistics– Both for business start-ups as well as for being entrepreneurial & innovative in any organization
• Students & program reside together in La Plata Residence Hall (freshman & sophomore requirement) – Jay Smith: Harvard MBA, BA Rutgers (Econ+Physics) 25yrs. Int’l venture biz, consulting, finance, ed.– Jaclin Warner: U Va. MBA, MA/BA Stanford (Sociology) Grad/Undergrad student advisor– David F. Barbe: Johns Hopkins PhD (EE), Director Mtech, Award-winning entrepreneurship educator
Entrepreneurship and Innovation Program (EIP) eip.umd.edu