Weinert Center for Entrepreneurship USASBE 2009 Agenda Documentation of the following: Innovativeness and uniqueness Quality and effectiveness Completeness and comprehensiveness Sustainability Transferability.
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Weinert Center for Entrepreneurship USASBE 2009 Agenda Documentation of the following: Innovativeness and uniqueness Quality and effectiveness Completeness and comprehensiveness Sustainability Transferability Weinert Center for Entrepreneurship Weinert Center for Entrepreneurship In School of Business Primary focus is on MBA’s. We also offer an undergraduate major and have Ph.D. students Affiliated with campus-wide programs and activities – – – – INSITE Kauffman Grant Entrepreneurship Association Badger Angels Network Part of relatively small MBA program -- 120 students per year Hundreds of students in MBA classes, but only 10 majors admitted each year Weinert Center Faculty/Staff Dan Olszewski Center and WAVE Director Ramon J. Aldag Executive Director Jon Eckhardt Professor, Management and Human Resources Phil Greenwood Faculty/Associate Phil Kim Janet Christopher Academic Specialist Rebecca Buckman University Services Program Associate Lori Cross Faculty/Associate Professor, Management and Human Resources Ankur Malhotra Faculty/Associate Anne Miner Professor, Management and Human Resources, INSITE/SMILES Barry Gerhart Chair, Management and Human Resources Department Affiliated and Core Faculty Mason Carpenter Jan Heide M. Keith Weikel Professor in Leadership Irwin Maier Chair of Marketing Cynthia Devers Kenneth Kavajecz Professor, Management and Human Resources Department Professor, Finance, Investment and Banking Gregory DeCroix Professor, Operations and Qing Liu Professor, Marketing Information Management Antonio Mello Randall Dunham Keenan A. Bennett Chair of Industrial Management Donald Hausch Dickson-Bascom Professor of Business Professor, Finance Hollis Skaife Professor, Accounting and Information Systems Masako Ueda Professor, Finance and Investment Banking Weinert Advisory Board Andy Albert Managing Director/Operating Partner Svoboda Capital Partners LLC Laurie Benson CEO Inacom Chris Hornung CEO Next Testing Steve Jacobson President Fairway Independent Mortgage Co. Aaron Kennedy Founder Noodles and Company Jack Lavin Former CEO and President Arrow Financial Services Tom Pyle Chairman The Pyle Group Mike Smith CEO Avelle, the new Bag, Borrow or Steal Irwin Smith Senior Managing Director Nakoma Capital Management, LLC Neil Thall Former CEO Aldata Solution, Inc. David Walsh Partner Foley & Lardner, LLP WAVE Advisory Board Joe Boucher Neider & Boucher Mike Mathews Ruedebusch Development and Construction Scott Braucht Scott Braucht & Assoc. LLC Dan Neely Networked Insights Laura Francis Promega John Neis Venture Investors of WI John Komives Lakeshore Group Bruce Neviaser Continuum IP Chuck Oehler The Oehler Group Kay Plantes Plantes Company Neil Peters-Michaud Cascade Asset Mgt. Paul Reckwerdt TomoTherapy Terry Sivesend Poseidon Probes LLC. Greg Lynch Michael Best & Friedrich Innovativeness and Uniqueness Dan Nichols Anchor Bank Peter Zaballos Frazier Technology Weinert Center Role Faculty / Staff Development Research Secondary Outreach/Economic Development Fundraising PrimarySTUDENTS Current & Past •Competitive Analysis of other programs •Presented at National Conference of E-ship Centers •E-mail to WClub alumni re scholarship in E-ship •Student Competitions • VCIC • Burrill • WI Governor’s • SDSU • Moot •50+ guest lecturers/year •Published E-Resume •Newsletter Books for Board and expansion UW Research Park •100% giving from •Created database of grad class in 2007 Dane Co. Top 200 •Created a •WARF, Badger “Friends of the Angel Capital Center” email list •Spring ‘07 trip to Seattle Network & other (~500) •Fall ‘07 trip to Chicago campus linkages •Proactive job •Undergrad major •Business School search for local survey shows E-ship firms (WARF start•Open more e-ship has above average up manager) courses across campus salaries 5 years out Going Forward •Improved marketing materials ─ Website •Improved integration of lock-step courses ─Print •WEB 2009 •Student start-ups (TBD) •Start-up mentoring service- MERLIN •Internship •Advertising •New opportunities via Career Center and ─Facebook undergrad ─UW Alumni residence hall Advisory Board Assoc. •Spring ’09 Trip TBD ─W Club Alumni •Improved networking opportunities between students and alums •Facebook/ Linkedin groups Students are Admitted Directly to the Weinert Center -- Benefits Interview all applicants that pass initial screen, preferably in person Helps assure real interest in, passion for, and promise for entrepreneurship Know students from Day 1 and do intensive interviewing and surveying to learn more about specific goals, concerns, perceived areas of strength or weakness Can better structure sequence of course offerings Second years can serve as mentors Work on internships Investment Fund The Weinert Applied Ventures Fund and Neviaser Entrepreneurial Fund are available to make investments in existing firms and promising student start-ups Currently up to $100,000 per investment Jim Weinert Dan Neviaser WAVE Funded Start-Up Businesses Year 2007 Name Description WindLift Wind-Powered Pumping System Sandbox International Innovation Focused Consulting Firm 2006 GetIPIC (a.K.a. Card) Identity Theft Protection 2005 Ratio Drug Delivery Patch for Prescribed Meds 2002 Fluent Systems Wireless Feedback System Alto Vino Wine Distributorship Power Designers Power Systems Equalizer Technology SciBiz Commercialization of Intellectual Property Agave Group Entrepreneurial Consulting Cascade Asset Management Computer Systems Recycling Errand Solutions Internet Concierge Business Gala Design Protein Expression Technologies UCLID Software (ExTract Systems) GPS Mapping Conversion Software 2001 1999 1998 WAVE Funded Start-Up Businesses Other WAVE Start-Up Businesses Curriculum WAVE Practicum I & 2 Higher level, integrated, and expanded coverage of material from other courses Close interaction with WAVE board Three projects: – Work with individual or business to deal with entrepreneurial issues -sometimes from University Research Park – Work with Wisconsin Alumni Research Foundation – Work on own projects WAVE Practicum I & II -- Wisconsin Alumni Research Foundation (WARF) Class Speakers for Fall 2007- Spring 2008 John Neis, Venture Investors Bruce Neviaser, Continuum Jim Weinert, Founder, Weinert Center Pete Zaballos, Frazier Technology Paul Reckwerdt - TomoTherapy JJ Vosskamp - Cascade Asset Mgmt Laurie Benson - Inacom Deven McGlenn, Neoclone Bill Skeens, Prairie City Bakery Chris Hornung - Next Step Per Anderson, Metavante Jay Loewi-QTI Group Judy Faulkner-Epic Systems Joan Gillman, Wisconsin School of Business Rimas Buinevicius -Sonic Foundry Laura Frances, Promega Charlie Flad, Sun Prairie Police Dept. Heather Hilleren, GreenLeaf Market Ben Hobbins, Lake Resources Group Dan Howell, Mesirow Financial Steve Jacobson, Fairway Independent Mortgage Kevin Phelps, UW Bookstore Chad Sorenson, Sologear Kavi Turnbull, WAVE Student Elizabeth Wewerka, Lady Moxie Chris Dueringer, US Bank Joe Boucher, Neider & Boucher, S.C. Elizabeth Wewerka, Lady Moxie Robert Creighton, WindLift George Arida, Venture Investors Ian Gurfield, Ian’s Pizza Rock Mackie, TomoTherapy Sue Alt, Kitchen Hearth Amanda White, Community Car Tim Gill, Netconcepts Ben Hobbins, Lake Resources Group Shannon Davis, Virchow Krause & Co. Joe Pieper, Associated Bank Ruth King, The Profitability Channel Carol Schroeder, Orange Tree Imports Kevin Phelps, WI Book Store Mark Bennett, Total Training Solutions Michelle Collins-founder Svoboda Collins Chuck West-UWEX Mary Burke-Former WI Sec. of Comm./TREK Bike John Schuster-YS&M Beth Donley, Stemina Sherwin Greenblatt , Bose Founder Mark Bennett, Total Training Solutions Tom Burke, Primorigen BioSciences Dave Casimir, Casimir Jones Andy Cohn, WARF Scott Daigger, Sandbox International Todd Wendrick, Sandbox International Bryan Esch, DeWitt Ross & Stevens Craig Fieschko, DeWitt Ross & Stevens Ralph Kauten, Quintessence Biosciences Ankur Malhotra, Matador Consulting Pat McGraw, Amcore Bank Sonya Newenhouse, Madison Environmental Group Brent Newport, aKa Card Dan Nichols, Anchor Bank Ray Zemon, Shopbop Henry Wilde, WI Department of Commerce Peter Weber, UW Student Outside Elective Courses Agriculture and Applied Economics AAE 520 - Community Economic Analysis AAE 575 - Economics of Innovation & Technology Accounting ACCT IS 603 - Financial Statement Analysis ACCT IS 620 – Fundamentals of Taxation ACCT IS 701 - Financial Reporting I Consumer Science CNSR SCI 561 - Direct Retailing Economics ECON 464 - International Trade & Finance ECON 671 - Energy Economics Educational Leadership and Policy Analysis ELPA 841 - Legal Aspects of Higher Ed ELPA 870 - The Politics of Education Educational Psychology Ed Psych 761 - Statistical Methods - Applied to Ed II Engineering CIV ENGR 423 - Air Pollution Measurement & Control ENVIR ST 810 - Energy Analysis Seminar ME 370 - Energy Systems Laboratory ME 466 - Air Pollution - Measure & Control ME 549 - Product Design Environmental Studies ENVIR ST 809 - Energy Analysis & Policy Seminar ENVIR ST 810 - Energy Analysis Seminar Finance FINANCE 635 - Security Analysis FINANCE 721 - Investment Theory & Application FINANCE 726 - Valuation & Corporate Investment Decisions FINANCE 740 – Analysis – Fixed Income Securities General Business GEN BUS 765 - People, Planet, Profit: Expl Sustainability & Bus GEN BUS 765 - Business & the Social Side of Sustainability Law LAW 731 - Constitutional Law I LAW 744 - Administrative Law LAW 753 - Intro-Intellectual Property Law LAW 802 – Civil Procedure II LAW 817 - Business Organizations I LAW 953 - Bus Org Smr: Law & Entrepreneurship LAW 991 - Directed Reading Management and Human Resources MHR 703 - Global Issues in Management MHR 765 - Technology Entrepreneurship MHR 765 - Strategic Management in the Life and Engineer Sciences MHR 734 - Venture Creation Business Plan Development MHR 799 - Reading & Research Management Marketing MARKETING 705 - Consumer Behavior MARKETING 710 - Marketing Research MARKETING 715 - Marketing Communications MARKETING 724 - Strategic Global Sourcing MARKETING 725 - Marketing Channels MARKETING 730 - Product & Price Management MARKETING 737 - Developing new Products MARKETING 765 - New Product Development MARKETING 765 - Supply Chain Integration through ERP Systems MARKETING 765 – Emerging Issues in New Product Development Math MATH 340 - Matrix & Linear Algebra Operations and Technology Management OTM 671 - E-Bus. Technology, Strategy & Application OTM 710 - Operations Research I OTM 711 - Operations Research II OTM 770 - Quality & Productivity Improvement OTM 861 - Strategic Management & Qualitative Planning Public Affairs PUB AFFR 841 - Smr International Business & Government Real Estate REAL EST 730 - International Real Estate Transportation and Public Utilities TRAN PU 725 - Public Utilities Meeting Entrepreneurs World-Wide Seattle International Trips Chicago California Unique Entrepreneurship Extension Second Wisconsin Entrepreneurial Bootcamp (WEB) – WEB focuses on three domains of technology entrepreneurship, including how to: – 1. Imagine, create and assess opportunities. (Using multiple lenses such as viable business models and intellectual property issues.) – 2. Develop resources for organization & strategy. (Form teams, seek funding). – 3. Use accounting and finance (As language and assessment tool). For all content areas, WEB offers specific opportunities to: *Develop the student's ability to use practical tools *Deepen the student's conceptual ability to explore fundamental links between tech and business *Broaden the student's factual knowledge about technology strategy and entrepreneurship. Second Wisconsin Entrepreneurial Bootcamp (WEB) Students Competitions COMPETITION AWARDS MBA International Business Case Competition 1st Place Pac-10/Big Ten Case Competition 2nd Place Wisconsin Governor’s Business Plan Contest 1st, 2nd Place Venture Capital Investment Competition, Austin, TX 1st, 2nd, 3rd Place International Business Plan Competition, Lincoln, NE 1st Place Lee Kwan Yu Global Business Competition, Singapore 1st Place G. Steven Burrill Technology Business Plan Competition, UW-Madison Nelson Institute Green Entrepreneurial Venture Recognition Tong Prototype Contest, UW-Madison NASDAQ/Qualcom Business Plan Competition, San Diego, CA Moot Corp Business Plan Competition, Austin, TX 1st, 2nd & 3rd Place, Honorable Mention 1st Place 1st Place 1st, 2nd Place 2nd & 6th Place, Outstanding Presentation Oregon State New Venture Competition, Eugene, OR 2nd Place University of Cincinnati Spirit of Enterprise MBA Business Plan Competition 2nd Place Elevator Pitch Olympics at the Wisconsin Early Stage Symposium 1st Place Students The true test is the success of our students. The following slides will introduce them to you and show the statistics regarding their placement over the past three years. Survey shows that entrepreneur students from our program seven years after graduation averaged $130,000 compared to $107,500 for all Wisconsin School of Business masters degree alumni seven years post-graduation. WAVE Student Placement at Graduation 2006-2008 Small/Mid-Sized Company Founded Start-Up Service Provider Large Company Ranked #13 in U.S. & #1 in Big Ten in 2008 Innovativeness and Uniqueness Selection directly into program Work on outside projects in all classes Dual advisory boards WAVE investment fund Spring and winter trips WAVE Practicum Personal, individualized attention Financial support for all Weinert Center students Other activities and programs such as WEB, dorm space, student incubator Quality and Effectiveness Satisfaction of graduates – all 2008 graduates made financial contributions to the center Success of start-ups Internship success Placement success Salaries and equity More applicants than any other center Businesses and individuals helped by center Assistance in development of entrepreneurship and related infrastructure in the Madison area. Entrepreneur Magazine/Princeton Review ranking Active alumni involvement Completeness and Comprehensiveness Full range of course offerings in the Weinert Center, School of Business, and across campus Links across campus to INSITE, Kauffman grant, Entrepreneurship Association Kauffman support to grow entrepreneurship at UWMadison, across the UW system, and statewide Sustainability Endowment WAVE Fund Kauffman funding, including leadership by Chancellor Martin $85 million Wisconsin School of Business naming grant Two very supportive advisory boards Continuing curriculum refinement, development, and coordination Links to WARF and University Research Park Strong, active alumni base Ongoing fundraising and alumni involvement activities Transferability Our mission is consistent with the USASBE mission which is to advance knowledge and foster business development through entrepreneurship education and research. Leading entrepreneurship faculty continue to do research, teaching, and advancement of entrepreneurship. Extensions across campus provide evidence of transferability. Questions? Thank you for the opportunity to show the USASBE more in-depth details of our program!