Regional Collaboration Julie Messing & Elizabeth Sinclair Kent State University Students Drive Entrepreneurial Growth Through…

Looking Through a Different Lens Academic Institutions as Vehicles for Economic Development Training, Education and Programs Focused on Developing and Growing Businesses Result: Student Entrepreneurs = Entrepreneurial Growth

Building Student Entrepreneurs Create Awareness and Enthusiasm for Entrepreneurship Empower Students to Become Change Agents in Shaping Our Economic Future Through Entrepreneurial Development Experiential Learning Opportunities Connections with the Business Community

Regional Collaborative Programs at KSU Entrepreneurship Extravaganza Entrepreneurship Immersion Week – Entrepreneurship Education Consortium Young Business Scholars Program

Entrepreneurship Extravaganza Six Annual E-Extravaganzas Over 800 participants in 2010 Students, Entrepreneurs, Vendors Goal to Grow to Multi-Day Regional Event

E-Extravaganza Goals Create Awareness Promote opportunities available through the Center Build connections between: High School students to college environment Community to university’s campus Entrepreneurs to students and campus Build Networking Opportunities View Entrepreneurship as a Viable Career Option

E-Extravaganza Overview General Session MDS Speaker Exhibitors Innovation Showcase Breakout Groups Workshops Keynote Speaker & Panel Panel Discussions Roundtables Seasoned Entrepreneurs Kent State University Students

Michael D. Solomon Speakers Series Longest-Standing Component of CEBI Formal Lectures and Fire-Side Chats Great Source of Entrepreneurial Energy on the KSU Campus

Exhibitors & Showcase

Workshops Leveraging the SBA Protecting Your Idea Marketing on a Shoe String Budget

Keynote & Panels Keynote: Entrepreneur Success Factors Utilizing your Entrepreneurship Support Network Minority Business Success Stories

Roundtables Various Entrepreneurs Students

E-Extravaganza Outcomes Created awareness of entrepreneurial opportunities across campus Connected student entrepreneurs with support resources in the region Participants understand entrepreneurship as a valuable career option

Lessons Learned Top 10 Pieces of Advice Start early! Specific/timely surveys to measure event results Put extra effort into Innovation Showcase = larger benefit of new ideas Secure speakers and presenters early Large publicity source Focus on publicity and/or PR over advertising

Lessons Learned Keep registration simple and follow-up with registrants Roundtables are very successful Wide range of speakers (include potential benefactors) Find champions in each key area Take care of your volunteers!

Entrepreneurship Education Consortium (EEC) The EEC is a 501(c)3~ Non-Profit Corporation Collaborative Effort by Nine Universities and Colleges in Northeast Ohio Purpose of the EEC is to Promote Entrepreneurship Education and Stimulate Entrepreneurial Activity within the Region Received the National Innovative Pedagogy Award at USASBE in 2010

EEC Collaborative Goals We realized that we could accomplish much more together than individually. EEC collaborative goals: Cooperate in the education and development of regional student entrepreneurs Encourage students to stay in the region after graduation and either start new enterprises or work in regional entrepreneurial opportunities Empower our students to be change agents in shaping the economic future of our region and Ohio First Blended Team in 2009

Signature Program ~ Entrepreneurship Immersion Week Intensive Week Long Summer Entrepreneurship Academy~ seven academic sessions Students are taught by unique combination of academics and practitioners ~ several guest speakers Each school’s team develops a new product or service idea ~ innovation At the end of the week, teams present their ideas and plans to a panel of outside judges for prize money ~ competition

Immersion Week Outcomes 2007 Winning Team from Case Western has started venture called Fresh Fork Market ~ raised over $250,000 for their venture Winning Team filed a provisional patent on their idea and formed an advisory board to assist their launch Several teams from 2008 – 2011 are working on their ideas Students are making an impact with peers Positive public relations throughout the region

Lessons Learned Keep your focus! Make sure that everyone “has skin in the game” Make certain that the group members can concentrate on the cooperative side rather than on the competitive side Create a separate entity Keep your Dean/Principal informed Bring in competent outside help when necessary

Young Business Scholars Program (YBS) Summer program for high school sophomores and juniors interested in majoring in business in college One-week business camp on the KSU campus 21 students in first program

YBS Program Goals Provide high school students with practical information about university business programs Better prepare students to enter college as business majors Provide an opportunity for students to experience college life Create an opportunity for students to earn an incentive to pursue a business degree in higher education

YBS Program Overview Daily Classes with Business Faculty Week-Long Entrepreneurial Project Social Activities Campus Life Students stay in KSU dorms, eat in dining facilities, experience student life Scholarship Opportunities Made available to students for only a deposit of $50 to ensure affordability

YBS Classes Faculty representatives from each department/functional area Hands-on, interactive approach Goal: Help students who are interested in “business” to better understand the different options and specializations within business

YBS Project Week-Long Entrepreneurial Project Teams of students from different schools KSU undergraduate student coaches Entrepreneurial focus links together all different functional areas of business Structured, hands-on exercises to help students develop business plan Presentations on final day for judges from the business community Winning team receives scholarships

YBS Outcomes Students gained a better understanding of the available opportunities in the business field Students’ interest in pursuing a career in business increased Students’ final projects were evaluated by the community judges as being exceptional in quality Several students expressed increased interest in attending KSU

Lessons Learned Work with high schools and parents Teachers can help identify students Parents are the true target market Work with the school’s schedule – parents make decisions early Two coordinators Requires a lot of coordination on both the academic and logistic sides Separate coordinators helps to spread the burden and work more effectively

Lessons Learned Involve College Students Student coaches and chaperones were one of the highlights for participants College students learned almost as much as high school students did Have Backup Plans Events/meals take more or less time than expected Surprises happen – ex. no ice in the ice rink!

Thank you! Contact Information: Julie Messing Elizabeth Sinclair Center for Entrepreneurship Assistant Dean & Business Innovation College of Business (330) (330)