Weinert Center for Entrepreneurship


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Weinert Center for Entrepreneurship

  1. 1. Weinert Center for Entrepreneurship USASBE 2009
  2. 2. <ul><li>Documentation of the following: </li></ul><ul><ul><li>Innovativeness and uniqueness </li></ul></ul><ul><ul><li>Quality and effectiveness </li></ul></ul><ul><ul><li>Completeness and comprehensiveness </li></ul></ul><ul><ul><li>Sustainability </li></ul></ul><ul><ul><li>Transferability </li></ul></ul>Agenda
  3. 3. Weinert Center for Entrepreneurship
  4. 4. Weinert Center for Entrepreneurship <ul><li>In School of Business </li></ul><ul><li>Primary focus is on MBA’s. We also offer an undergraduate major and have Ph.D. students </li></ul><ul><li>Affiliated with campus-wide programs and activities </li></ul><ul><ul><li>INSITE </li></ul></ul><ul><ul><li>Kauffman Grant </li></ul></ul><ul><ul><li>Entrepreneurship Association </li></ul></ul><ul><ul><li>Badger Angels Network </li></ul></ul><ul><li>Part of relatively small MBA program -- 120 students per year </li></ul><ul><li>Hundreds of students in MBA classes, but only 10 majors admitted each year </li></ul>
  5. 5. Weinert Center Faculty/Staff Dan Olszewski Center and WAVE Director Ramon J. Aldag Executive Director Janet Christopher Academic Specialist Rebecca Buckman University Services Program Associate Lori Cross Faculty/Associate Jon Eckhardt Professor, Management and Human Resources Phil Greenwood Faculty/Associate Phil Kim Professor, Management and Human Resources Ankur Malhotra Faculty/Associate Anne Miner Professor, Management and Human Resources, INSITE/SMILES Barry Gerhart Chair, Management and Human Resources Department
  6. 6. Affiliated and Core Faculty Mason Carpenter M. Keith Weikel Professor in Leadership Cynthia Devers Professor, Management and Human Resources Department Gregory DeCroix Professor, Operations and Information Management Randall Dunham Keenan A. Bennett Chair of Industrial Management Donald Hausch Dickson-Bascom Professor of Business Jan Heide Irwin Maier Chair of Marketing Kenneth Kavajecz Professor, Finance, Investment and Banking Qing Liu Professor, Marketing Antonio Mello Professor, Finance Hollis Skaife Professor, Accounting and Information Systems Masako Ueda Professor, Finance and Investment Banking
  7. 7. Weinert Advisory Board Tom Pyle Chairman The Pyle Group Mike Smith CEO Avelle, the new Bag, Borrow or Steal Irwin Smith Senior Managing Director Nakoma Capital Management, LLC Neil Thall Former CEO Aldata Solution, Inc. David Walsh Partner Foley & Lardner, LLP Andy Albert Managing Director/Operating Partner Svoboda Capital Partners LLC Laurie Benson CEO Inacom Chris Hornung CEO Next Testing Steve Jacobson President Fairway Independent Mortgage Co. Aaron Kennedy Founder Noodles and Company Jack Lavin Former CEO and President Arrow Financial Services
  8. 8. WAVE Advisory Board Mike Mathews Ruedebusch Development and Construction Dan Neely Networked Insights John Neis Venture Investors of WI Bruce Neviaser Continuum IP Dan Nichols Anchor Bank Chuck Oehler The Oehler Group Kay Plantes Plantes Company Neil Peters-Michaud Cascade Asset Mgt. Paul Reckwerdt TomoTherapy Terry Sivesend Poseidon Probes LLC. Peter Zaballos Frazier Technology Joe Boucher Neider & Boucher Scott Braucht Scott Braucht & Assoc. LLC Laura Francis Promega John Komives Lakeshore Group Greg Lynch Michael Best & Friedrich Innovativeness and Uniqueness
  9. 9. Weinert Center Role Recruitment Instruction Placement Alumni Support Fundraising Outreach/Economic Development Research Faculty / Staff Development Primary- STUDENTS Secondary
  10. 10. Current & Past <ul><li>Competitive Analysis of other programs </li></ul><ul><li>Presented at National Conference of E-ship Centers </li></ul><ul><li>E-mail to W-Club alumni re scholarship in E-ship </li></ul><ul><li>Student Competitions </li></ul><ul><ul><li>VCIC </li></ul></ul><ul><ul><li>Burrill </li></ul></ul><ul><ul><li>WI Governor’s </li></ul></ul><ul><ul><li>SDSU </li></ul></ul><ul><ul><li>Moot </li></ul></ul><ul><li>50+ guest lecturers/year </li></ul><ul><li>Spring ‘07 trip to Seattle </li></ul><ul><li>Fall ‘07 trip to Chicago </li></ul><ul><li>Undergrad major </li></ul><ul><li>Open more e-ship courses across campus </li></ul><ul><li>Published E-Resume Books for Board and UW Research Park </li></ul><ul><li>Created database of Dane Co. Top 200 </li></ul><ul><li>WARF, Badger Angel Capital Network & other campus linkages </li></ul><ul><li>Business School survey shows E-ship has above average salaries 5 years out </li></ul><ul><li>Newsletter expansion </li></ul><ul><li>100% giving from grad class in 2007 </li></ul><ul><li>Created a “Friends of the Center” email list (~500) </li></ul><ul><li>Proactive job search for local firms (WARF start-up manager) </li></ul>Recruitment Instruction Placement Alumni Support
  11. 11. Going Forward <ul><li>Improved marketing materials </li></ul><ul><ul><li>Website </li></ul></ul><ul><ul><li>Print </li></ul></ul><ul><li>Advertising </li></ul><ul><ul><li>Facebook </li></ul></ul><ul><ul><li>UW Alumni Assoc. </li></ul></ul><ul><ul><li>W Club Alumni </li></ul></ul><ul><li>Improved integration of lock-step courses </li></ul><ul><li>WEB 2009 </li></ul><ul><li>New undergrad residence hall </li></ul><ul><li>Spring ’09 Trip TBD </li></ul><ul><li>Student start-ups (TBD) </li></ul><ul><li>Start-up mentoring service- MERLIN </li></ul><ul><li>Internship opportunities via Career Center and Advisory Board </li></ul><ul><li>Improved networking opportunities between students and alums </li></ul><ul><li>Facebook/ Linkedin groups </li></ul>Recruitment Instruction Placement Alumni Support
  12. 12. Students are Admitted Directly to the Weinert Center -- Benefits <ul><li>Interview all applicants that pass initial screen, preferably in person </li></ul><ul><li>Helps assure real interest in, passion for, and promise for entrepreneurship </li></ul><ul><li>Know students from Day 1 and do intensive interviewing and surveying to learn more about specific goals, concerns, perceived areas of strength or weakness </li></ul><ul><li>Can better structure sequence of course offerings </li></ul><ul><li>Second years can serve as mentors </li></ul><ul><li>Work on internships </li></ul>
  13. 13. Investment Fund Dan Neviaser <ul><li>The Weinert Applied Ventures Fund and Neviaser Entrepreneurial Fund are available to make investments in existing firms and promising student start-ups </li></ul><ul><li>Currently up to $100,000 per investment </li></ul>Jim Weinert
  14. 14. WAVE Funded Start-Up Businesses Year Name Description 2007 WindLift Wind-Powered Pumping System Sandbox International Innovation Focused Consulting Firm 2006 GetIPIC (a.K.a. Card) Identity Theft Protection 2005 Ratio Drug Delivery Patch for Prescribed Meds 2002 Fluent Systems Wireless Feedback System Alto Vino Wine Distributorship 2001 Power Designers Power Systems Equalizer Technology SciBiz Commercialization of Intellectual Property Agave Group Entrepreneurial Consulting 1999 Cascade Asset Management Computer Systems Recycling Errand Solutions Internet Concierge Business 1998 Gala Design Protein Expression Technologies UCLID Software (ExTract Systems) GPS Mapping Conversion Software
  15. 15. WAVE Funded Start-Up Businesses
  16. 16. Other WAVE Start-Up Businesses
  17. 17. Curriculum
  18. 18. WAVE Practicum I & 2 <ul><li>Higher level, integrated, and expanded coverage of material from other courses </li></ul><ul><li>Close interaction with WAVE board </li></ul><ul><li>Three projects: </li></ul><ul><ul><li>Work with individual or business to deal with entrepreneurial issues -- sometimes from University Research Park </li></ul></ul><ul><ul><li>Work with Wisconsin Alumni Research Foundation </li></ul></ul><ul><ul><li>Work on own projects </li></ul></ul>
  19. 19. WAVE Practicum I & II -- Wisconsin Alumni Research Foundation (WARF)
  20. 20. Class Speakers for Fall 2007- Spring 2008 <ul><li>John Neis, Venture Investors </li></ul><ul><li>Bruce Neviaser, Continuum </li></ul><ul><li>Jim Weinert, Founder, Weinert Center </li></ul><ul><li>Pete Zaballos, Frazier Technology </li></ul><ul><li>Paul Reckwerdt - TomoTherapy </li></ul><ul><li>JJ Vosskamp - Cascade Asset Mgmt </li></ul><ul><li>Laurie Benson - Inacom </li></ul><ul><li>Deven McGlenn, Neoclone </li></ul><ul><li>Bill Skeens, Prairie City Bakery </li></ul><ul><li>Chris Hornung - Next Step </li></ul><ul><li>Per Anderson, Metavante </li></ul><ul><li>Jay Loewi-QTI Group </li></ul><ul><li>Judy Faulkner-Epic Systems </li></ul><ul><li>Joan Gillman, Wisconsin School of Business </li></ul><ul><li>Rimas Buinevicius -Sonic Foundry </li></ul><ul><li>Laura Frances, Promega </li></ul><ul><li>Charlie Flad, Sun Prairie Police Dept. </li></ul><ul><li>Heather Hilleren, GreenLeaf Market </li></ul><ul><li>Ben Hobbins, Lake Resources Group </li></ul><ul><li>Dan Howell, Mesirow Financial </li></ul><ul><li>Steve Jacobson, Fairway Independent Mortgage </li></ul><ul><li>Kevin Phelps, UW Bookstore </li></ul><ul><li>Mary Burke-Former WI Sec. of Comm./TREK Bike </li></ul><ul><li>John Schuster-YS&M </li></ul><ul><li>Beth Donley, Stemina </li></ul><ul><li>Sherwin Greenblatt , Bose Founder </li></ul><ul><li>Mark Bennett, Total Training Solutions </li></ul><ul><li>Tom Burke, Primorigen BioSciences </li></ul><ul><li>Dave Casimir, Casimir Jones </li></ul><ul><li>Andy Cohn, WARF </li></ul><ul><li>Scott Daigger, Sandbox International </li></ul><ul><li>Todd Wendrick, Sandbox International </li></ul><ul><li>Bryan Esch, DeWitt Ross & Stevens </li></ul><ul><li>Craig Fieschko, DeWitt Ross & Stevens </li></ul><ul><li>Ralph Kauten, Quintessence Biosciences </li></ul><ul><li>Ankur Malhotra, Matador Consulting </li></ul><ul><li>Pat McGraw, Amcore Bank </li></ul><ul><li>Sonya Newenhouse, Madison Environmental Group </li></ul><ul><li>Brent Newport, aKa Card </li></ul><ul><li>Dan Nichols, Anchor Bank </li></ul><ul><li>Ray Zemon, Shopbop </li></ul><ul><li>Henry Wilde, WI Department of Commerce </li></ul><ul><li>Peter Weber, UW Student </li></ul><ul><li>Chad Sorenson, Sologear </li></ul><ul><li>Kavi Turnbull, WAVE Student </li></ul><ul><li>Elizabeth Wewerka, Lady Moxie </li></ul><ul><li>Chris Dueringer, US Bank </li></ul><ul><li>Joe Boucher, Neider & Boucher, S.C. </li></ul><ul><li>Elizabeth Wewerka, Lady Moxie </li></ul><ul><li>Robert Creighton, WindLift </li></ul><ul><li>George Arida, Venture Investors </li></ul><ul><li>Ian Gurfield, Ian’s Pizza </li></ul><ul><li>Rock Mackie, TomoTherapy </li></ul><ul><li>Sue Alt, Kitchen Hearth </li></ul><ul><li>Amanda White, Community Car </li></ul><ul><li>Tim Gill, Netconcepts </li></ul><ul><li>Ben Hobbins, Lake Resources Group </li></ul><ul><li>Shannon Davis, Virchow Krause & Co. </li></ul><ul><li>Joe Pieper, Associated Bank </li></ul><ul><li>Ruth King, The Profitability Channel </li></ul><ul><li>Carol Schroeder, Orange Tree Imports </li></ul><ul><li>Kevin Phelps, WI Book Store </li></ul><ul><li>Mark Bennett, Total Training Solutions </li></ul><ul><li>Michelle Collins-founder Svoboda Collins </li></ul><ul><li>Chuck West-UWEX </li></ul>
  21. 21. Outside Elective Courses Agriculture and Applied Economics AAE 520 - Community Economic Analysis AAE 575 - Economics of Innovation & Technology Accounting ACCT IS 603 - Financial Statement Analysis ACCT IS 620 – Fundamentals of Taxation ACCT IS 701 - Financial Reporting I Consumer Science CNSR SCI 561 - Direct Retailing Economics ECON 464 - International Trade & Finance ECON 671 - Energy Economics Educational Leadership and Policy Analysis ELPA 841 - Legal Aspects of Higher Ed ELPA 870 - The Politics of Education Educational Psychology Ed Psych 761 - Statistical Methods - Applied to Ed II Engineering CIV ENGR 423 - Air Pollution Measurement & Control ENVIR ST 810 - Energy Analysis Seminar ME 370 - Energy Systems Laboratory ME 466 - Air Pollution - Measure & Control ME 549 - Product Design Environmental Studies ENVIR ST 809 - Energy Analysis & Policy Seminar ENVIR ST 810 - Energy Analysis Seminar Finance FINANCE 635 - Security Analysis FINANCE 721 - Investment Theory & Application FINANCE 726 - Valuation & Corporate Investment Decisions FINANCE 740 – Analysis – Fixed Income Securities General Business GEN BUS 765 - People, Planet, Profit: Expl Sustainability & Bus GEN BUS 765 - Business & the Social Side of Sustainability Law LAW 731 - Constitutional Law I LAW 744 - Administrative Law LAW 753 - Intro-Intellectual Property Law LAW 802 – Civil Procedure II LAW 817 - Business Organizations I LAW 953 - Bus Org Smr: Law & Entrepreneurship LAW 991 - Directed Reading Management and Human Resources MHR 703 - Global Issues in Management MHR 765 - Technology Entrepreneurship MHR 765 - Strategic Management in the Life and Engineer Sciences MHR 734 - Venture Creation Business Plan Development MHR 799 - Reading & Research Management Marketing MARKETING 705 - Consumer Behavior MARKETING 710 - Marketing Research MARKETING 715 - Marketing Communications MARKETING 724 - Strategic Global Sourcing MARKETING 725 - Marketing Channels MARKETING 730 - Product & Price Management MARKETING 737 - Developing new Products MARKETING 765 - New Product Development MARKETING 765 - Supply Chain Integration through ERP Systems MARKETING 765 – Emerging Issues in New Product Development Math MATH 340 - Matrix & Linear Algebra Operations and Technology Management OTM 671 - E-Bus. Technology, Strategy & Application OTM 710 - Operations Research I OTM 711 - Operations Research II OTM 770 - Quality & Productivity Improvement OTM 861 - Strategic Management & Qualitative Planning Public Affairs PUB AFFR 841 - Smr - International Business & Government Real Estate REAL EST 730 - International Real Estate Transportation and Public Utilities TRAN PU 725 - Public Utilities
  22. 22. Meeting Entrepreneurs World-Wide <ul><li>Seattle California </li></ul><ul><li>International Trips </li></ul><ul><li>Chicago </li></ul>
  23. 23. Unique Entrepreneurship Extension <ul><li>Second Wisconsin Entrepreneurial Bootcamp (WEB) </li></ul><ul><ul><li>WEB focuses on three domains of technology entrepreneurship, including how to: </li></ul></ul><ul><ul><li>1. Imagine, create and assess opportunities. (Using multiple lenses such as viable business models and intellectual property issues.) </li></ul></ul><ul><ul><li>2. Develop resources for organization & strategy. (Form teams, seek funding). </li></ul></ul><ul><ul><li>3. Use accounting and finance (As language and assessment tool). For all content areas, WEB offers specific opportunities to: </li></ul></ul><ul><ul><ul><li>* Develop the student's ability to use practical tools </li></ul></ul></ul><ul><ul><ul><li>*Deepen the student's conceptual ability to explore fundamental links between tech and business </li></ul></ul></ul><ul><ul><ul><li>*Broaden the student's factual knowledge about technology strategy and entrepreneurship. </li></ul></ul></ul>
  24. 24. Second Wisconsin Entrepreneurial Bootcamp (WEB) Students
  25. 25. Competitions COMPETITION AWARDS MBA International Business Case Competition 1st Place Pac-10/Big Ten Case Competition 2 nd Place Wisconsin Governor’s Business Plan Contest 1 st , 2 nd Place Venture Capital Investment Competition, Austin, TX 1 st , 2 nd , 3 rd Place International Business Plan Competition, Lincoln, NE 1 st Place Lee Kwan Yu Global Business Competition, Singapore 1 st Place G. Steven Burrill Technology Business Plan Competition, UW-Madison Nelson Institute Green Entrepreneurial Venture Recognition 1 st , 2 nd & 3 rd Place, Honorable Mention 1 st Place Tong Prototype Contest, UW-Madison 1 st Place NASDAQ/Qualcom Business Plan Competition, San Diego, CA 1 st , 2 nd Place Moot Corp Business Plan Competition, Austin, TX 2nd & 6 th Place, Outstanding Presentation Oregon State New Venture Competition, Eugene, OR 2 nd Place University of Cincinnati Spirit of Enterprise MBA Business Plan Competition 2 nd Place Elevator Pitch Olympics at the Wisconsin Early Stage Symposium 1 st Place
  26. 26. Students <ul><li>The true test is the success of our students. The following slides will introduce them to you and show the statistics regarding their placement over the past three years. </li></ul><ul><li>Survey shows that entrepreneur students from our program seven years after graduation averaged $130,000 compared to $107,500 for all Wisconsin School of Business masters degree alumni seven years post-graduation. </li></ul>
  27. 27. WAVE Student Placement at Graduation 2006-2008 Founded Start-Up Small/Mid-Sized Company Service Provider Large Company
  28. 28. Ranked #13 in U.S. & #1 in Big Ten in 2008
  29. 29. Innovativeness and Uniqueness <ul><li>Selection directly into program </li></ul><ul><li>Work on outside projects in all classes </li></ul><ul><li>Dual advisory boards </li></ul><ul><li>WAVE investment fund </li></ul><ul><li>Spring and winter trips </li></ul><ul><li>WAVE Practicum </li></ul><ul><li>Personal, individualized attention </li></ul><ul><li>Financial support for all Weinert Center students </li></ul><ul><li>Other activities and programs such as WEB, dorm space, student incubator </li></ul>
  30. 30. Quality and Effectiveness <ul><li>Satisfaction of graduates – all 2008 graduates made financial contributions to the center </li></ul><ul><li>Success of start-ups </li></ul><ul><li>Internship success </li></ul><ul><li>Placement success </li></ul><ul><li>Salaries and equity </li></ul><ul><li>More applicants than any other center </li></ul><ul><li>Businesses and individuals helped by center </li></ul><ul><li>Assistance in development of entrepreneurship and related infrastructure in the Madison area. </li></ul><ul><li>Entrepreneur Magazine / Princeton Review ranking </li></ul><ul><li>Active alumni involvement </li></ul>
  31. 31. Completeness and Comprehensiveness <ul><li>Full range of course offerings in the Weinert Center, School of Business, and across campus </li></ul><ul><li>Links across campus to INSITE, Kauffman grant, Entrepreneurship Association </li></ul><ul><li>Kauffman support to grow entrepreneurship at UW-Madison, across the UW system, and statewide </li></ul>
  32. 32. Sustainability <ul><li>Endowment </li></ul><ul><li>WAVE Fund </li></ul><ul><li>Kauffman funding, including leadership by Chancellor Martin </li></ul><ul><li>$85 million Wisconsin School of Business naming grant </li></ul><ul><li>Two very supportive advisory boards </li></ul><ul><li>Continuing curriculum refinement, development, and coordination </li></ul><ul><li>Links to WARF and University Research Park </li></ul><ul><li>Strong, active alumni base </li></ul><ul><li>Ongoing fundraising and alumni involvement activities </li></ul>
  33. 33. Transferability <ul><li>Our mission is consistent with the USASBE mission which is to advance knowledge and foster business development through entrepreneurship education and research. </li></ul><ul><li>Leading entrepreneurship faculty continue to do research, teaching, and advancement of entrepreneurship. </li></ul><ul><li>Extensions across campus provide evidence of transferability. </li></ul>
  34. 34. Questions? <ul><li>Thank you for the opportunity to show the USASBE more in-depth details of our program! </li></ul>