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  • He cites data from the Current Population Survey, made up primarily of non-MBAs, that studied the industries where entrepreneurs founded companies. In 2002, the top five industries were non-technical: construction, with 13.48 percent of companies founded by entrepreneurs; retail trade, 12.98 percent; other professional services, 11.02 percent; business services, 8.10 percent; and insurance and real estate, 6.72 percent.
  • Transcript

    • 1.  
    • 2. First Some Good News…
    • 3. Entrepreneurship promoted by several groups InNUvation PEEK Levy Institute Audience Northwestern-wide: Kellogg, Law, Med, Engineering, etc. Kellogg Kellogg Areas of focus:
      • Bootstrapped companies
      • VC-backed ventures
      • Tech. commercialization & University spinouts
      • Other
      • Bootstrapped companies
      • VC-backed ventures
      • Search funds & management buyouts
      • Corporate “entrepreneurship”
      • All
      Activities
      • NU Venture Challenge business idea competition
      • Applied Research Day
      • Speakers
      • Workshops
      • Networking Events
      • Entrepreneurship Speaker Series
      • MBA Business Plan Competitions
      • Entrepreneurship Trek
      • Entrepreneurship & Innovation Major
      • Kellogg Cup
    • 4.
      • Both clubs serve broader audiences – only overlap is with entrepreneurship at Kellogg’
      • Students are encouraged to join both clubs
      Why have two student clubs for entrepreneurship? Entrepreneurship Venture Capital Private Equity Kellogg Law McCormick Feinberg Medill Weinberg Undergrad
    • 5. Kellogg Kick-off Meeting
    • 6. InNUvation Overview
      • Mission: To kindle the entrepreneurial spirit by providing opportunities for education and idea exchange, thus fostering commercialization, innovation, and new venture formulation.
      • 8 chapters university-wide
        • Feinberg
        • Kellogg
        • Law
        • McCormick (Graduate and Undergraduate chapters)
        • Medill
        • Weinberg (Graduate and Undergraduate chapters)
        • Undergrad
      Kick-Off Meeting
    • 7. 2006-07 Year in Review Kick-Off Meeting InNUvation has established itself as a nexus for interdisciplinary innovation at Northwestern Membership
      • Leadership team has grown from 8 to 26 officers
      • Reached 1,100 members
      • Established 3 new chapters (Law, Feinberg, Medill)
        • Currently have 8 chapters
      Curriculum
      • Launched NUvention
      Events
      • 6 Speakers
      • Applied Research Day
      • NU Venture Challenge
      Partnerships
      • NanoAlliance, Undergraduate NUCorp, Kellogg PEEK, CEI, Small Business Opportunity Center, U. Chicago, TiE, CEC
    • 8. 2007-2008 InNUvation Events Kick-Off Meeting
      • Speakers
        • Paul Sagan – CEO of Akamai
        • Mary Lou Song – 1 st Employee at eBay
      • Workshops (1 in Chicago)
        • Abstract writing and elevator pitch
        • Marketing
        • Finance
        • Intellectual Property
        • Investors
      • Applied Research Day
      • Feinberg Event (Chicago)
      • Law Event (Chicago)
      • Socials and Mixers
      • Mentoring and Office Hours
      • 2008 NU Venture Challenge
      • University-wide idea competition
      • Three round competition
        • Abstract submission
        • Elevator pitch
        • Final presentation
      • Judged by entrepreneurs, venture capitalists and angel investors
      • Last year, 60 teams and 200+ students representing all schools at Northwestern competed for $27,000 in prizes
    • 9. 2007 NU Venture Challenge Kick-Off Meeting
    • 10. 2007 Applied Research Day Kick-Off Meeting
    • 11. Why get involved? Kick-Off Meeting Learn Meet Enjoy InNUvation Diverse ideas Broad network Building companies
    • 12. Opportunities for Involvement
      • Join the listserv to receive communications about upcoming events
      • Participate in Applied Research Day
      • Participate in the NU Venture Challenge
      • Apply for an Evanston leadership position
        • Applications due by Friday October 12 th
        • Visit our website for the application and a list of open positions ( www.innuvation.org )
      • Contact Matt Krutky if interested in becoming a Chicago Campus Leader
        • [email_address]
      Kick-Off Meeting
    • 13. Leadership Opportunities
      • To apply, go to www.innuvation.org and complete the leadership position application form
      • E-mail the completed application to [email_address]
      • Application deadline - Friday October 12 th
      Kick-Off Meeting
      • NUVC Logistics
      • NUVC Judges
      • NUVC Mentorship
      • NUVC Communication
      • External/PR Marketing
      • Medill Chapter President
      • Speakers Director
      • Social Director
      • Corporate Relations
      • Alumni Relations
      • Co-Internal Marketing Chair
      • Graphics Designer
    • 14. Key Dates
      • October 8th – NUVC Kick-Off, Paul Sagan (CEO of Akamai) and Mary Lou Song (1 st employee at eBay)
      • October 12 th – Applications for leadership positions due
      • Mid-November – Applied Research Day
      • February 22 nd 2008 – NUVC abstract submission
      • Early-April 2008 – NUVC semi-finals
      • Early-May 2008 – NUVC finals
      Kick-Off Meeting
    • 15. Contact
      • www.innuvation.org
      • Tejash Unadkat, Kellogg Chapter President ( [email_address] )
      Kick-Off Meeting
    • 16. Entrepreneurship Kickoff October 2007
    • 17. Overview of PEEK
      • Organization Goal:
      Educating members about private equity and entrepreneurship, strengthening relationships with alumni, and facilitating career and networking opportunities
      • Who should participate in PEEK events?
        • All students interested in pursuing a role in private equity or entrepreneurship , whether directly after graduating from Kellogg or later in their careers
        • Students pursuing careers in industries in which they would be working with entrepreneurs or private equity professionals, such as investment banking, consulting or general management
    • 18. What is Private Equity?
      • General Definition:
      Equity capital invested in private companies
      • Who is investing?
        • Private equity firms invest capital on behalf of their limited partners
        • For simplicity purposes, we divide private equity firms into two general categories:
          • Venture Capital : Firms making investments in companies in their early stage of operation
          • Buyout : Firms making investments in companies in their later stages of operation. These firms usually recapitalize acquired company with some level of debt after transaction.
    • 19. Club Organization
      • PEEK events will be targeted/marketed to one of three interests:
        • Buyouts
        • Venture Capital
        • Entrepreneurship
      • Why does PEEK cover all three?
        • Line is blurry between Buyout and Venture Capital investing. Students can learn investing principals in one area that might apply to other; having a club that oversees both encourages such insight
        • Individuals working in Buyouts and Venture Capital will often work closely with entrepreneurs, and vice versa. Having a club that oversees all three areas provides greater opportunity for interaction during business school
      • Students can, and are encouraged to, attend any PEEK event
    • 20. Leadership Andy Phipps Co-Chair John Thorpe Co-Chair Mike Teplitsky Director, Buyouts Anand Babu Director, Entrepreneurship Jeanette Cajide Director, Careers Savinay Berry Director, Venture Capital Laura Lester Director, 1Ys
    • 21. Faculty Advisors Professor Rogers Professor Stowell Professor Petersen Professor Sutter Scott Whitaker Professor Merkin Professor Collins Professor Hochberg
    • 22.
      • Get Inspired: Listen to speakers/panels that have been through it AND that you can relate to
      • Get Networked: Meet classmates, alumni, others that share your interests
      • Get Ready: Participate in business plan competitions, explore “platform” jobs
      CareerLeader says you should be an entrepreneur… what now?
    • 23. Entrepreneurship Events
      • Entrepreneurship Speaker Series: Range of entrepreneurs and investors come to Kellogg to speak
      • Search Fund Panel: Kellogg alums with search fund backing speak at Kellogg
      • Other possible panels:
        • Bootstrap stories
        • Working at a VC-backed company
        • Working at a company post LBO/MBO
      Get Inspired Get Networked Get Ready
      • PEEK Social Events
      • Participate in Kellogg Alumni Entrepreneur Conference
      • Silicon Valley Entrepreneurship Trek: Opportunity to meet start-up firms, and their investors, in Silicon Valley
      • Corporate Entrepreneurship Panel
    • 24. Other PEEK Events
      • KPEC:
        • Quarter-long projects for venture capital and buyout firms and start-up companies.
        • Applications due each quarter
        • Students matched with interested parties
        • Great opportunity for students to get additional, real-world experience while in school
      • Resume Review and Mock Interviews: First-years receive counseling from second-years
      • NFTE: Kellogg students provide mentorship to young entrepreneurs. Information session Thursday 11th Oct, 12.15pm, G36
      • Socials:
        • Opportunity for students interested in PEEK-related careers to meet in informal social situations
        • At least one per quarter
      • Venture Capital Bootcamp: General introduction to VC industry
      • Chicago Trek Day: Opportunity for students to meet firms in Chicago
      • Venture Capital Case Competition: Educational event. Preparation for national, intra-business school case competitions.
      • Silicon Valley Venture Capital Trek: Opportunity for students to meet firms in Silicon Valley
      General VC-specific
    • 25. Get Involved
      • PEEK encourages you to do the following:
        • Sign up for listserv: Best means for keeping up-to-date on all PEEK events
        • Attend events: As mentioned throughout presentation, all Kellogg students are encouraged to attend all PEEK events.
        • Volunteer at events: PEEK events are organized and staffed entirely by students. There is plenty of capacity for interested students!
        • Apply to be member of PEEK leadership team:
          • Applications have been distributed through listserv.
          • Deadline for submitting applications is Friday, October 5 th
          • Office hours this week in the atrium
    • 26. Leadership Opportunities PEEK Levy Institute Potential Applicants Northwestern-wide: Kellogg, Law, Med, Engineering, etc. Kellogg only Kellogg only and focused on 2 nd year students Positions
      • NUVC Logistics
      • NUVC Judges
      • NUVC Mentorship
      • NUVC Communication
      • External/PR Marketing
      • Speakers Director
      • Social Director
      • Corporate Relations
      • Alumni Relations
      • Co-Internal Marketing Chair
      • Graphics Designer
      • Entrepreneurship (4)
        • Speakers
        • Entrepreneurship Trek
        • Business Plan Coordinator
        • Kellogg Cup
      • Venture Capital (4)
      • Buyouts Team (4)
      • Careers (1)
      • Webmaster (1)
      • Oversight Team (2)
      • Levy Associates (2)
      Application Instructions
      • Download application from www.inNUvation.org
      • E-mail completed application to [email_address]
      • Deadline – Friday October 12th
      • Complete application form (emailed to PEEK listserv)
      • E-mail completed application to jthorpe2008@kellogg.northwestern.edu
      • Deadline – Friday October 5th
      • Send a letter of interest and resume to [email_address] between 8-12 October. Interviews held 16-19 October.
    • 27. Upcoming PEEK Events
      • PEEK Fall Social
        • Wednesday, October 3 rd
        • 8:00 pm
        • Prairie Moon
        • Limited food and drinks provided- come early!
      • Private Equity Bootcamp Series
        • General Introduction:
          • Saturday, October 6 th , 8:30 am
        • Buyouts Sessions:
          • Saturday, October 6 th , 11:00 am
          • Saturday, October 13 th , 8:30 am
        • Venture Capital Sessions:
          • Wednesday, October 10 th , 12:15 pm
          • Wednesday October 17 th , 8:30 am

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