On May 3, 2012, Patrick Vernon, Professor of Strategy and Entrepreneurship at the Kenan-Flagler Business School, spoke to the Economic Development & Public Policy Committee on entrepreneurship.

1. Entrepreneurship at
UNC Kenan-Flagler
February 22, 2012
Patrick Vernon
Clinical Asst. Professor of Entrepreneurship

2. Entrepreneurship at Kenan-Flagler
• Teach
• Connect TEAC CONNECT
• Research H
RESEARCH
2

3. TEACH
MBA
Full-Time
Concentration
17 Classes
28 Sections
Total
GLOBAL
GIE –28 classes
EMBA GLOBE
Electives GEL BSBA –45 sections
2 Classes
Emphasis –74 credit hrs.
3 Sections
9 Classes
14 Sections
3

4. TEACH
MBA Courses
4

5. TEACH
BSBA Emphasis
1. Entrepreneurship and Bus. Planning
3.0 Credits
2. Eship: Opportunity Assessment (New Ventures Analysis)
3. Entrepreneurial Consulting
6.0 Credits
4. Entrepreneurial Finance
5. Private Equity
6. Family Business I and II
7. Sustainable Businesses and Social Entrepreneurship
8. GLOBE: Private Equity
9. GLOBE: Global Venturing
5

6. BUSI 506: Eship: Opportunity Assessment
Formerly New Ventures Analysis
Study Other Startups
6

7. BUSI 505: Entrepreneurial Consulting
Experiential Education Credit
7

8. Entrepreneurial Activities
• Teach
• Connect TEAC CONNECT
• Research H
• Fundraising FUNDRAISING COMMUNICATION
S
• Communications RESEARCH
8

9. www.startup.unc.edu
9

10. www.startup.unc.edu
10

11. Connect Programs
1
CONNE
CT
2
6 N ew
3
48
4
5
11

12. CONNECT CENTER FOR ENTREPRENEURIAL STUDIES
1
EMBA
GEL DISCOVERY SoftLaunch
Summer FINANCING
FEASIBILITY PLANNING
Workshops OPPORTUNITY
2
Prep Prep
Prep Session Prep Session
Session Session Track
Semi- Finals
Elevator
Idea Hatch Pitch
Finals Finals
Alumni Track
3
VCIC Regional Finals
DC DEN SFO PHI NYC LAX BOS UK SP IND
Prep Prep UNC Prep Prep
6 Session Session VCIC Session Session FINALS
“clink” “clink” “clink” “clink” “clink”
SFO NYC BOS EUR RTP
“Coffee for Eight” 48 48 48 48 48 48 48 48 48 48
4 Alt. Investment
Private Equity
Conference
5 Prep
Internship Programs Panels CVF CEF 1 AIF CEF 2 12

13. Carolina Challenge CON
NEC
T
www.carolinachallenge.org
• 7th Annual
• $50,000 prize money (Stedman Endowment)
• High visibility across UNC and RTP
• 60-100 teams
• New in 2012: alumni track
13

14. Pitch Party CON
NEC
T
www.carolinachallenge.org/pitch
• 1st Annual Pitch Party: 12/1/11
• 50 teams, 60 judges
• Nearly 200 in attendance
• “Super Networking”
“This was an amazing event! So much energy, fun,
clever format, and great networking. Just tops…
Holden sends his congratulations. ”
Judith Cone, Special Asst. to the Chancellor
for Innovation & Entrepreneurship
14

15. Private Equity Fund CON
NEC
T
www.kfpefund.com
• $4.4M committed
• 16 students/year
• Unique opportunity for
students to invest
• 13 investments so far…
15

16. VCIC CON
NEC
T
www.vcic.org
• 60 schools, 50 events (franchise model)
• 11 regional partner schools
• 3 continents
• 1,200 students
• 15th Annual
• Finals at UNC
16

17. SVCIC and uVCIC CON
NEC
T
www.svcic.org | www.uvcic.org
• 6th Sustainable VCIC • 5th Undergraduate VCIC
• March 23-24 • January 28
• 8 top MBA programs • Regional Competition, March
1. Columbia 24, 2012
2. Duke 1. UNC
3. Georgetown 2. Duke
4. Michigan Ross 3. Virginia
5. NYU Stern 4. Georgetown
6. Oxford Said
7. UNC Kenan-Flagler
8. UVA Darden
17

18. Launching the Venture CON
NEC
T
www.launch.unc.edu
• High visibility across UNC
• Cross campus workshops
• 32 teams in LTV Feasibility
• 50 coaches (alumni
and RTP)
• 50 startups since
1999
18

19. Alternative Investments Conf. CON
NEC
T
www.uncaic.com
• 5th annual full-day conference, February 29
• ~150 attendees/year (paying $200 on average)
• High visibility within specific sector of
alumni
• ~$30k in profits go towards student
fellowships
• High caliber,
high impact
event
19

20. Coffee for Eight (C48) CON
NEC
T
Coffee for Eight Series
Fall 2011 Series Spring 2012 Series
48 Kate Blanchard, Artus Labs (MBA ’08) 48 Judith Cone, Chancellor’s Advisor on
Innovation and Entrepreneurship
48
Andy Dreyfuss, Piedmont Angel Network 48 Bob Creeden, Blackstone Entre. Network
48
Elaine Bolle, RTP Capital 48 Jason Caplain, Southern Capitol Ventures
48
Tina Prevatte, Farmhand Foods (MBA ‘09) 48
Pat Garner, Former CEO of Motley Fool
48
Lorenzo Mejia, Semitone Corporation 48 Martin Sinozich, Venn Capital

21. COMMUNICA
Social Media TIONS
• Twitter activity
• LinkedIn groups, subgroups
and events
• Facebook
21

22. Behavior Profiles of Entrepreneurial Students
FANATIC “Mr. Now”
“
2-5 students per year
•Dying to be part of a startup
•Deep expertise in specific tech sector
•Exceptional skill set and confidence
•Uncommon risk profile (for MBA)
Fanatic
ENTHUSIAST “MR.
Enthusiast
SOMEDAY”
20-30 students per year
•A startup someday is the plan Opportunist
•Often hopes to do so right away and is
struggling with personal risk profile
•Fallback often considered a failure
OPPORTUNIST “MR.
Share short-term goals: MAYBE”
•Pay debt 40-60 students per year
•Develop expertise •No specific goal of startup
•Grow network •Considers entrepreneurship a professional
•Gain confidence development tool
•Wants to be prepared when/if oppty knocks 22

23. Students’ Interests
TECH
Fast Growth Startups
•Software-as-a-service, apps, (Finance)
gaming, biotech, pharma, hardware,
media…
•Potential for VC funding
Tech
LIFESTYLE Lifestyle
Traditional Businesses
•Consumer products, services, Specialty
manufacturing, consulting…
•Regular linear growth
•Traditional financing
ENTREPRENEURIAL FINANCE
SPECIALTY
Social Entrepreneurship / Family Business
•Across all segments
•Venture Capital and Private Equity •Specialty financing
23

24. Entrepreneurship at
UNC Kenan-Flagler
February 22, 2012
Patrick Vernon
Clinical Asst. Professor of Entrepreneurship