BOSTON COLLEGE IES empreendedoras e relação com o mercado Liz Reisberg April 2010

BOSTON COLLEGE What is entrepreneurship in higher education? Is this about IESs generating revenue? Making a profit? Finding innovative ways to provide higher education? A different kind of teaching? Cost management? 2

BOSTON COLLEGE Why are you really here? 3 Are you waiting for me to tell you how your institution can make more money? Sorry!

BOSTON COLLEGE Entrepreneurship Alternative sources of revenue Developing new markets Improving competitive position 4

BOSTON COLLEGE Higher education is not free Government pays Students pay Someone makes donations or investments Institutions generate revenue 5

BOSTON COLLEGE Higher education is not free There are limits to government funding Government funds may be limited to public institutions There are limits to what private institutions can charge directly to students What are other sources of revenue? 6

BOSTON COLLEGE Alternative sources of financing Student loans – Commercial loans – Government subsidized loans – Institutionally-managed loans Financing helps to expand the potential “market” 7

BOSTON COLLEGE Alternative sources of financing Philanthropists – Individuals, corporations, or foundations committed to education Computer Science at The University of Texas at Austin Receives $30 Million Challenge Grant from Bill & Melinda Gates Foundation and will name the building the Bill & Melinda Gates Computer Science Complex Investors – Individuals, corporations, or foundations committed to socially-responsible investment snapshot/Anhanguera_Educacional_Participacoes_SA

BOSTON COLLEGE Alternative sources of financing Sale of services or product 9 Visit the Department of Animal Science U.Conn Dairy Bar! Available Flavors Banana Chocolate Chip Black Raspberry Cake Batter Cherry Vanilla Chocolate Chocolate Chip Chocolate Chip Cookie Dough Chocolate Fudge Crunch Chocolate Peanut Butter Swirl Coffee Coffee Espresso Crunch Husky Tracks Jonathan Supreme Maple Walnut Mint Chocolate Chip Oreo Pistachio Red Raspberry Sorbet Strawberries n' Cream Toasted Almond Amaretto Vanilla

BOSTON COLLEGE Alternative sources of financing Sale of services or product 10 Welcome to NECI Dining The celebrated teaching restaurants of New England Culinary Institute offer a glimpse behind the scenes at one of America's leading training grounds for tomorrow's celebrity chefs. Visit our restaurant and our bakery in Montpelier, Vermont's charming capital city, and experience our unique "learn by doing" educational philosophy in action. With menus that change with the seasons, the resources of Vermont's farms and fields, and the passion of our students and chefs, our restaurants offer a wonderful culinary experience for every occasion.

BOSTON COLLEGE Alternative sources of financing Sale of services or product – Services to small businesses Provide accounting services Develop marketing plans Research strategic opportunities for expansion 11

BOSTON COLLEGE Alternative sources of financing Partnerships with industry – MIT with Microsoft Five-year partnership to develop instructional technology to enhance university education A collaboration of students, faculty, and Microsoft researchers – Philippines universities with private industry Training programs for industry employees Testing products – Faculty and students work under contract in “business incubators” for industry in India Textiles, tourism, environmentally-friendly product development 12

BOSTON COLLEGE Developing & serving new markets Older students without higher education Professionals in need of further education Career changers Historically under-represented minorities 13

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BOSTON COLLEGE Improving competitive position What resources do you have that you can leverage to provide unique opportunities? What are other institutions not offering? New delivery options? – Off-campus locations – Hybrids of face-to-face with online learning Innovative programs in traditional careers – Interdisciplinary programs that combine knowledge areas – Incorporate practical experiences such as internships 15

BOSTON COLLEGE Improving competitive position Marketing, branding, and positioning 16

BOSTON COLLEGE Entrepreneurial activities Provide additional revenue Provide invaluable opportunities for students to apply learning Provide faculty with opportunities for different kinds of pedagogy and mentoring 17

BOSTON COLLEGE Create “space” for innovation Cross-disciplinary committees Combined student-faculty-alumni “think tanks” Industry advisory boards 18

BOSTON COLLEGE Create “space” for innovation Be bold! Be different! Be relevant! 19

BOSTON COLLEGE Muito obrigada! Liz Reisberg Center for International Higher Education Lynch School of Education Boston College