Open2012 first-year-review-innovation-program

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  • HEIP 143: Primarily individual assignments and self assessmentHEIP 144: Discrete Team projectsHEIP 240: Cumulative team projectHEIP 241: Cumulative team project
  • Open2012 first-year-review-innovation-program

    1. 1. First-year review of a new living-learning entrepreneurship and innovation program forHonors College freshmen and sophomores at the University of Maryland James Green, Director – Entrepreneurship Education, Mtech & Hinman CEOs Program Jay Smith, Director – Entrepreneurship & Innovation Program Jaclin Warner, Coordinator – Entrepreneurship & Innovation Program
    2. 2. Entrepreneurship and Innovation Program (EIP) ei p.umd.edu Agenda • Genesis and Goals • Student Recruitment-Selection • Living Community • Learning Curriculum • New Venture Creation • Lessons Learned
    3. 3. Genesis & Goals• The Entrepreneurship and Innovation Program (EIP) is a two-year, freshman-sophomore living-learning program serving approximately 70-75 students per class year – Launched in fall 2010 to meet surging demand for undergraduate courses and programs in entrepreneurship and innovation at UMd and throughout the country – Help build students’ entrepreneurial skills in opportunity discovery, creativity, innovation, and venture creation – Awarded Honors College-EIP citation upon completion• Joint program of the University of Maryland Honors College and the Maryland Technology Enterprise Institute (Mtech) of the A. James Clark School of Engineering
    4. 4. Expansion of Honors College Thematic LLPs Fall Fall Fall 2010 2010 2011Freshman 70-75 70-75 150-200 70-75 70-75 400-500Cohort ~ 1,000 students/class year = ~ 4,000 students (1/6 of total undergrads)
    5. 5. UMd Strategic Plan Alignment• GOAL 1: THE UNIVERSITY WILL IMPLEMENT A NUMBER OF INITIATIVES TO IMPROVE THE QUALITY OF UNDERGRADUATE EDUCATION. OUR PROGRAMS WILL BE COMPREHENSIVE AND CHALLENGING, WILL MATCH OR EXCEED STUDENTS’ LEARNING GOALS, AND WILL SERVE THEM WELL AS A FOUNDATION FOR THE WORKPLACE OR ADVANCED STUDY AND FOR A MORE FULFILLING LIFE.• GOAL 2: THE UNIVERSITY WILL ATTRACT A LARGER POOL OF APPLICATIONS FROM ACADEMICALLY TALENTED STUDENTS, ENROLL MORE STUDENTS FROM UNDERREPRESENTED GROUPS, ENROLL AN INCREASINGLY STRONGER GROUP OF FRESHMAN AND TRANSFER STUDENTS, AND BECOME THE SCHOOL OF CHOICE FOR MORE OF THE HIGHEST ACHIEVING STUDENTS GRADUATING FROM MARYLAND HIGH SCHOOLS.• GOAL 3: THE UNIVERSITY WILL SET HIGH EXPECTATIONS FOR STUDENT SUCCESS AND WILL ACT TO ENSURE THAT UNDERGRADUATE STUDENTS MEET THEIR EDUCATIONAL GOALS IN TIMELY FASHION.• GOAL 4: PRIMARILY THROUGH THE LEADERSHIP OF THE STUDENT AFFAIRS DIVISION THE UNIVERSITY WILL CREATE A NOURISHING CLIMATE THAT PROMOTES THE PERSONAL GROWTH OF STUDENTS AND ENCOURAGES THEM TO PARTICIPATE IN THE WEALTH OF SHARED SOCIAL, ATHLETIC, CULTURAL, AND TRADITIONAL ACTIVITIES THAT PROMOTE A SENSE OF COMMUNITY AMONG THE STUDENT BODY.
    6. 6. Living-learning programs can have significant impact on“students’ perceived openness to new ideas and concepts.” (Inkelas, Johnson, et.al. 2006)
    7. 7. Funding• Total $235,000 / year – Provost/Honors College: $175,000 – A. James Clark School of Engineering $25,000 – Mtech $35,000 (in-kind operational support)• $1,567/ student at 150 student capacity – ½ of Hinman CEOs per student rate• Facilities remodeling funded additionally by Resident Life
    8. 8. Maryland Technology Enterprise Institute Entrepreneurship & Innovation EcosystemEducation Venture Development Industry Partnerships- Hinman CEOs - TERP Startup Lab - Product R&D (MIPS)- Entrepreneurship & - Venture Accelerator (VA) - International Incubator (MI2) Innovation Program - Tech. Advancement Program - Biotech Scale-Up and- Hillman Entrepreneurs On-campus Incubator (TAP) Education (BREP)- Entrepreneurship courses - 2nd Stage Incubator (TVB) - Manufacturing (UMMAP)- Tech Startup Boot Camp - Business Plan Competition ~$28 billion impact since 1983- Tech. Entrepreneurship Minor Entrepreneur Office Hours, MIPLRC, Mentoring, Seed & Venture Funding, Venture FairsMtech.umd.edu
    9. 9. Gap in Mtech Education Offerings 2011: Technology Entrepreneurship Minor 69 freshmen applied for the Hinman CEOs program (2008)
    10. 10. EIP is based on Mtech’s award-winning Hinman CEOs LLP the Nation’s 1st Living-Learning Entrepreneurship ProgramHinman CEOs launched in 1999 to foster undergraduates’entrepreneurial spirit, create a sense of community &cooperation for student entrepreneurs, & develop leaders • LIVE with aspiring and active entrepreneurs – Dynamic residential experience – Incubator setting – On-demand mentoring and coaching • LEARN in a vibrant experiential environment – Courses, seminars, competitions, workshops, int ernships, and volunteering • LAUNCH real companies – 25% of students launch revenue-generating new ventures while still in the program – All develop skills and relationships to launch and manage startups and corporate ventures throughout their career
    11. 11. Senior Mtech Leadership Support
    12. 12. Jay A. Smith, Director 25+ years international business innovation and entrepreneurship• Educator – Joined University of Maryland June 2010 – 5 yrs. Assoc. Prof. Kagoshima (National) Univ., Japan • Program endowed by founder of Kyocera, KDDI, Kyoto Prize• Entrepreneur: Co-Founder Tokyo-based Internet Co• Advisor: Management consultant - NY/NJ & Tokyo• Finance: Sr. VP Investment Banking – Jefferies & Co., SF• BA, Rutgers – Honors in Economics & Physics• MBA, Harvard Business School
    13. 13. Jaclin (Jackie) Warner Coordinator• Rejoined University of Maryland Dec. 2010• Coordinates EIP operational functions, marketing initiatives, curricular support, and related activities• Held roles in advising, academic and student affairs, and project coordination at UMCP, UMUC, and Bowie State• BA & MA in sociology from Stanford University• MBA, Darden Graduate School of Business, UVa. – Launched Batten Institute Incubator company
    14. 14. EIP Student Profile• Freshman & Sophomore Cohorts – 70~75 students per class year (140~150 total at full load) (vs. 90 Hinman CEOs) – 70% from Maryland (vs. 74% for University overall) – Currently 2/3 Male, 1/3 Female – Singers, Dancers, Musicians, Athletes, Designers, “Hackers”• Diverse majors, double-majors, double-degrees – Business (~35%) , Engineering (~35%) – Arts, sciences, and humanities (~30%)• Honors students - highest academic performers at UMD – Sophomore, junior, senior credit standing – High credit loads in challenging majors – 17 % Banneker Key academic scholarships – 28% had 4.0 GPA after first semester, 25% 4.0 GPA in third semester – 60% had 3.5 or above in first semester, 90% had 3.0 or above• Aspire to start ventures/be entrepreneurial/innovative in careers
    15. 15. Student Recruitment-Selection: Multi-Step Entry Process ~25,000 Apply to UMd by 11/1 Early Decision Date ~10,000 Accepted to UMd ~3,000 Invited to Honors CollegeNo Separate Application ~2,500 Students Rank Increasingly AttractiveEIP looks for LLP Preferences Year: 1st Pref. EIPdesire, goals, entrepreneurial 2010 184experiences/drive, leadership, LLP Directors 2011 240diversity. Invite based on 2012 290 (est.) Profiles , TargetsNear 100% of 1st preferenceacceptance to date (33% yield) Students Matriculate
    16. 16. High School Outreach Young Scholars Program!• Open houses • Campus Visits• Banneker/Key Days • Email/advertising• Maryland Day • Student-student
    17. 17. Online Resources• eip.umd.edu• eip@umd.edu , mail list• Twitter: eipumd• Facebook: – Entrepreneurship & Innovation Program page – EIP group• Mtech.umd.edu (Mtech info)• honors.umd.edu (Honors College info) – listserv.umd.edu/archives/umhonors.html
    18. 18. EIP MissionTo foster an entrepreneurial spirit, create asense of community and cooperation, anddevelop ethical and innovative leaders.
    19. 19. Entrepreneurship as means to:• Personal Development – Self-knowledge, Self-discovery – Self-expression, Self-actualization• Academic and Professional Development – Applying entrepreneurial mindset and innovation to all academic and professional pursuits – Leaders and change makers in their fields• Venture Creation and Development – Launching business at university or afterward – Create positive change in the world
    20. 20. Creativity ⋅ Leverage ⋅ Impact “I believe that we can use television and film to be an influence for good; that we can help to shape the thoughts of children and adults in a positive way.” Jim Henson UMd ‘60
    21. 21. Living Community
    22. 22. Building the Living Community• All students required to reside in the program residence hall for their freshman and sophomore years. – Unique among Honors LLPs – Invaluable to community building – Requirement based on Hinman CEOs experience• Program offices, some classrooms and other facilities in residence hall – Retrofit of existing spaces – Facilitates mentoring and coaching – Creates an incubator-like setting• Coordinate with Resident Life & Resident Facilities at multiple levels – Activities: Senior staff, community director, residence director, RAs – Issues: Resident room assignments, rights, responsibilities, adjudication – Facilities redesign planning process - primarily funded by Res. Facilities
    23. 23. La Plata Hall, North Campus (TAP Incubator)New Fall 2011: Honors College College Park Scholars (Mtech HQ)Community (EIP, GEMS, ILS, UHP) Community
    24. 24. Built 1968 + Air Conditioning
    25. 25. EIP Residents - Floors 2-4EIP, ILS, HC Resident Life Offices - Floor 1
    26. 26. Newly Built Work/Study Team Rooms
    27. 27. Learning Curriculum• Experiential-learning model which includes: – Living-learning community – Honors-level courses and seminars – Guest speakers, case studies, simulations, workshops – Creativity and design projects – Team-building/leadership development activities – Business competitions and venture creation activities – Internships, volunteer activities on campus and in DC area – Hinman, EIP alums as teaching assistants• 15 credits required for completion of the program – 9-credit series of 4 courses created exclusively for EIP student cohorts across their first four semesters – 6 credits (2 courses) honors seminars – 1 credit HEIP 100 discontinued from fall 2012
    28. 28. Surround Academics the Student Philanthropy Internships Alumni w/ Startups & Programs VCs Coaching & Seed Fund MentoringSmall Group Facilities &Discussions Entrepreneurship & Innovation Equipment Program (EIP) Student International Leadership Perspective Opportunities Law & Entrepreneur Events & Tools & Accounting Office Hours Competitions Resources Services
    29. 29. Core Curriculum (1 section) (3 sections) (3 sections) (2 sections)Plus 2 Honors Seminars or I-Series courses (6 credits), totaling 15 credits (from fall 2012)
    30. 30. Course Assignments FALL Spring HEIP 143 Foundations of Entrepreneurship & Innovation HEIP 144 Contemporary Issues in Entrepreneurship & (1 credit, 1 section of 70-75) Innovation (3 credits x 3 sections 10-28 students) • Lecture, Guest Speakers, Discussions, Video • Lecture, Discussion, Projects, Video • Admired Company • Sources of Innovation (Drucker)Freshman • Business Ethical Conflicts/Issues • Attend events & competitions (BPC, DOE, SVC) • Leader in your life • Campus problem solving (bottlenecks, process) • Expectations for 2030, Desired 2030 • Marketing an intangible (brand value, ideavirus) • Life Cards • Redesign the alphabet (lateral thinking) • Leadership Style Assessment (Bateman Snell) • Product development case (United Beverages) • Entrepreneur Interview • Rapid prototyping a solution (IDEO) • Entrepreneurial Plan (Timmons Spinelli) • Final: Innovative solution to important issue HEIP 240 Exploring International Entrepreneurship & HEIP 241 EIP Capstone: Creating Enterprise with Social Innovation (3 credits x 3 sections 10-28 students) Impact (2 credits x 2 sections 25-38 students) • •Sophomore Lecture, Guest Speakers, Discussions, Video Lecture, Discussion, Projects, Guest Speakers • Skype sessions • 8 Case studies: Walmart, White Dog • Case studies • Reaction and opinion papers • Business simulations (Go Venture) • Attend events & competitions • Cumulative team international project • Cumulative team double/triple bottom line project – Business concept with international aspect(s) – Business concept with international aspect(s) – Opportunity and market analysis – Mission, Opportunity and market analysis – Business model, marketing, operations – Business model, marketing, operations – Financials and implementation plan – Financials and implementation plan
    31. 31. Venture Creation• In-class team projects develop skills, ideas• Mentoring and coaching to help students in founding and managing start-ups• Venture creation events and support activities• Companies are 100% student-owned – No equity sharing with university – No fee for participation in the program• ~10% of students involved in developing ventures• On-campus and DC area internships
    32. 32. Support Programs and Activities• Networking Events• EIP Start-up subgroup/workshops• Entrepreneur office hours• TERP Incubator• UMd School of Law legal services team• Mtech Impact Seed Fund (Up to $50,000/year) – Business concepts that provide social impact – $500-$5,000 for R&D, prototyping, legal, marketing
    33. 33. Lessons (Being) Learned• Dual Parentage Benefits/Challenges• Resident Life - historically separated – Communications challenges – Mixed EIP/non-EIP floors• Building constraints• IP issues: disclosure, co-claimant, first-to-file• Students’ different majors, skills and goals• Ongoing adjustments based on feedback/results – ~10% attrition: housing, course load, priorities
    34. 34. Assessments• Student quick intro survey (at entry)• Course evaluation (mid-course, semester)• Program longitudinal survey (annual)• Report to provost (annual)
    35. 35. Longitudinal Survey 98% agreed or strongly agreed
    36. 36. Additional Resources• eip.umd.edu (general EIP info)• eip@umd.edu• Twitter: eipumd• Facebook: – Entrepreneurship & Innovation Program page – EIP group• Mtech.umd.edu (Mtech info)• honors.umd.edu (Honors College info) – listserv.umd.edu/archives/umhonors.html
    37. 37. EIP: A Great Place to LaunchENTREPRENEURSHIP & INNOVATION PROGRAM
    38. 38. Entrepreneurship and Innovation Program (EIP) ei p.umd.edu• Honors College + Maryland Technology Enterprise Institute (Clark School of Engineering) – New Honors College Living-Learning Program launched Fall 2010 – Mtech: $28 billion impact on the Maryland economy since 1983 – Based on Mtech’s award-winning Hinman CEOs living-learning program for juniors and seniors• Develop entrepreneurial spirit, community, cooperation, and ethical, innovative leaders – Educate: Experiential learning, leadership, management, creativity, case studies, internships – Create: New products/services, new businesses, seed funding, coaching, mentoring – Connect: Speakers, events, competitions, group activities, professional networking• For any entering Honors College student interested in entrepreneurship and innovation – Diverse Majors: Business, Engineering, Sciences, Psychology, Math, Government, Linguistics – Both for business start-ups as well as for being entrepreneurial & innovative in any organization• Students & program reside together in La Plata Residence Hall (freshman & sophomore requirement) – Jay Smith: Harvard MBA, BA Rutgers (Econ+Physics) 25yrs. Int’l venture biz, consulting, finance, ed. – Jaclin Warner: U Va. MBA, MA/BA Stanford (Sociology) Grad/Undergrad student advisor – David F. Barbe: Johns Hopkins PhD (EE), Director Mtech, Award-winning entrepreneurship educator

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