Transcript Comprehensive Engineering Entrepreneurship David Barbe Professor ECE Executive Director, MTECH University of Maryland • A.

Comprehensive Engineering
Entrepreneurship
David Barbe
Professor ECE
Executive Director, MTECH
University of Maryland • A. James Clark School of Engineering
• MTECH is a unit of the Clark School of Engineering
• It operates programs that:
– Build a robust tech entrepreneurship culture
– Support new technology ventures
University of Maryland • A. James Clark School of Engineering
Tech Entrepreneurship Activities
• For faculty, graduate and undergraduate
students in engineering and science
• Comprehensive
• Experiential
• A variety of entry points
University of Maryland • A. James Clark School of Engineering
Tech Entrepreneurship Activities
Students
Faculty
Young
Firms
Mature
Firms
Hinman CEOs
Tech Entrepreneurship Courses
Ideas
Concepts
Technologies
Tech Startup Boot Camp
Business Plan Competition
Venture Accelerator
Technology Incubator
University of Maryland • A. James Clark School of Engineering
Sustainable
Ventures
Hinman CEOs Program
Outline:
• Background
• Selection Process
• Typical Group
• Community
• Assistance
• Student Company Examples
University of Maryland • A. James Clark School of Engineering
Background: Hinman Campus
Entrepreneurship Opportunities
(CEOs) Program
 Concept of former Dean of Engineering, Bill Destler
 Funded by Brian Hinman, alumnus of A. James Clark
School of Engineering and successful entrepreneur
• attract students with an strong entrepreneurial spirit
• create a sense of community and cooperation among
like-minded students
• impact the way they think about their careers and
destinies
• Prepare them to start businesses
University of Maryland • A. James Clark School of Engineering
CEOs Selection Process
Apply on-line in the Spring for
following year (Dates are tied to
housing contract deadlines)
– Targeted at Juniors and Seniors
of ALL MAJORS
– Exceptional Sophomores are
considered
– 3.0 minimum GPA
– Entrepreneurial assessment
based on essay and interview
University of Maryland • A. James Clark School of Engineering
Typical CEOs Group
• 80-100 Undergraduate Students
• 50% technical majors –
engineering, computer science,
life and environmental sciences
• 50% business majors and other
non-technical majors
• 20-25% female
• >50% Diversity Population
University of Maryland • A. James Clark School of Engineering
CEOs Community
• All CEOs live in a special section of a
residence hall
– Live, learn, study, play, team, start-and-try
ventures
University of Maryland • A. James Clark School of Engineering
CEOs Community - Incubator-like
Setting
• State-of-the-Art
Technology
- Wireless technology
- Videoconferencing
- Cell phone connection
to desk set phone
- Computer labs
- Business software
- Copiers, fax
University of Maryland • A. James Clark School of Engineering
CEOs Incubator-like
Setting
• Working Spaces
University of Maryland • A. James Clark School of Engineering
CEOs Incubator-like
Setting
• Meeting Spaces
University of Maryland • A. James Clark School of Engineering
CEOs Building Community and
Teams
• Facilitates Close
Interactions
• Facilitates Teambuilding
University of Maryland • A. James Clark School of Engineering
CEOs Assistance - Seed Fund
Grants and Internships
• NCIIA Sponsored Seed
funding to help build
Prototypes
• Kauffman Foundation –
Internships
• Local funding
University of Maryland • A. James Clark School of Engineering
CEOs Assistance - Mentoring
• Program Directors are primary
• Network of outside mentors
Karen Thornton
mentors a student
team
Brian Hinman gives
advice to students
University of Maryland • A. James Clark School of Engineering
CEOs Education
• Introductory Entrepreneurship Course
– First semester junior year
– Three credits
• Weekly seminars/workshops
– Four semesters
– Two credits/semester
University of Maryland • A. James Clark School of Engineering
CEOs Student Company
Examples
• Squarespace, Inc
• Arkhon Technology Solutions, Inc
• 57th Street Advertising, LLC
University of Maryland • A. James Clark School of Engineering
Squarespace, Inc.
“Squarespace picks up where blogging software left off. This is
the sort of software the internet has been crying out for.”
— The Wall Street Journal
“Simply blows the doors off what .Mac is offering right now.”
— BusinessWeek
•
Squarespace provides a managed web service that allows
individuals to piece together a professional web site
starting directly from their content. Files, pictures, and
text can be placed directly into the Squarespace platform,
which will then structure and publish a professional web
site that an individual or business can manage entirely
from the web.
•
Anthony Casalena (Founder and CEO) – Hinman CEO
(Computer Science Major, 2005 graduation)
Funding
•
TEDCO Award - $50,000
•
1st Place, University of Maryland Business Plan
Competition - $15,000
http://www.squarespace.com
University of Maryland • A. James Clark School of Engineering
Arkhon Technology Solutions, Inc.
•
Arkhon Technology Solutions is a technology consulting firm
that operates within the Washington, DC Metropolitan area. The
firm provides computer and telecommunications networks to
small- and medium-sized businesses throughout the area, with
20 clients at the end of 2004.
•
Arkhon’s goal is to become the market leader in technology
consulting to small to medium sized businesses in the
Washington, DC Metropolitan area. Arkhon intends to be a firm
that clients will be able to come to for all their technology
needs. The company is dedicated to providing the highest
quality service in the industry to their clients.
•
Matt Weinstein, President and Founder of Arkhon Technology
Solutions, has a strong background in information technology
industry, including sales, professional services, and content
production. Hinman CEO, Computer Engineering, graduation
2005.
Revenues and Funding
•
$10,000 seed money invested by the founders to launch
•
All subsequent revenue generated from client contracts to fuel
company growth
•
Total revenues in 2004 approach $350,000
http://www.arkhon.com
University of Maryland • A. James Clark School of Engineering
57th Street Advertising, LLC
•
•
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57th Street Advertising, LLC is a direct-mail-based advertising
company based in the Greater Baltimore-Washington
Metropolitan Area. 57th Avenue serves the advertising needs of
restaurants in the city of College Park through
MenuTeaser™, an exclusive advertising publication distributed
to both College Park residents and University of Maryland
students.
Borna Ghavam, co-founder, is a Hinman CEOs student and
junior electrical engineering student in the A. James Clark
School of Engineering.
First Product: MenuTeaser™: A digest-sized, full-color, saddlestitched booklet—packed with local food merchant menus and
related information—mailed to consumers for free. First edition
distributed in Fall 2004 to over 70,000 College Park residents.
Future Products
•
BeautyTeaser™: beauty merchant services lists and fees.
•
AutoTeaser™: automotive care serves and fees.
•
LoveTeaser™: ads and services for local florists, jewelers,
chocolate/candy shops, gift/card shops, and fine dining.
University of Maryland • A. James Clark School of Engineering
Tech Entrepreneurship Courses
• Introduction to Entrepreneurship
– Required course for Hinman CEOs
– (Also offered in the Winter term and a
version as a Summer Course for High
School Students)
• Fundamentals of Technology Startup
Ventures
– Seniors (and graduate students)
• Technology Innovation
– Graduate students and seniors
University of Maryland • A. James Clark School of Engineering
Tech Startup Boot Camp
•
•
•
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Kicks off the academic year
300 students and faculty
National and Regional sponsors
National Model
Basic startup processes
– Evaluating tech ideas
– IP basics and licensing
– Legal fundamentals
– Building a team
– Obtaining financing
– Entrepreneur experiences
• Presented by experienced VCs, service
providers, and tech executives
• Networking
University of Maryland • A. James Clark School of Engineering
Business Plan Competition “New
Venture Challenge”
• Begins between semesters
– exec summaries
• Culmination of the academic year
– Finals in May
• $35K to $50K in prizes raised from sponsors
• Select top 16 based on executive summaries
• Judging panel selects top six for full plans and
presentations
• Networking and mentoring sessions with six finalists
and judges/sponsors during the Spring semester
University of Maryland • A. James Clark School of Engineering
VentureAccelerator
• Substantial Hands-on consultation and advice to selected
Startups, mostly in the incubator:
– Introductions to funding sources
– Preparation of presentations and business-plans
– Strategic planning
– Executive recruitment
• Planned Step-by-step processes for new company formation
– Managed student e-teams conducting:
• Market research
• Business planning
• Marketing
• Financial analysis
University of Maryland • A. James Clark School of Engineering
Technology Incubator
Early stage incubator offering technical & business assistance,
as well as state-of-the-art biotech equipment and modern
office facilities
•
On Campus
- Outstanding environment
•
Applicants are spinouts from the Clark
School, large companies and
government research organizations
•
Rigorous Acceptance Process
- technical and business
•
Residence for up to four years
University of Maryland • A. James Clark School of Engineering
Some Results
• Strong, comprehensive technology
entrepreneurship culture for students and
faculty
• One new UMD tech startup per month
• 50 graduates of incubator program
• Two IPOs: Digene and Martek
• Over 1,800 jobs created
University of Maryland • A. James Clark School of Engineering
Contact Information and Web Sites
[email protected]
www.mtech.umd.edu
www.venturecatalyst.umd.edu
www.hinmanceos.umd.edu
University of Maryland • A. James Clark School of Engineering