wsu nac presentation (4-5-13)
DESCRIPTION
Alex Lawrence presentation to NAC on 4-5-13 about Entrepreneurship at WSU.TRANSCRIPT
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Entrepreneurship at Weber StateAlex Lawrence
Vice Provost, Innovation and Economic DevelopmentDirector, Entrepreneurship Program
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Overview• Catalysts for Entrepreneurship at WSU
• Our Unique Focus
• Entrepreneurship Minor
• Other Contributors
• Goals and Outcomes
• Questions and Contact Info
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Catalysts• Hall Global Entrepreneurship Center
• Endowed Chair (Hall)• Budget for Entrepreneurship Minor (Hall)• Bill Child Endowment
• University wide support at highest levels
• Unique community partnerships• Startup Ogden• WEA Mentors• Startup Weekend, Summit Series, Hack Ogden
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Unique Focus• Target all potential entrepreneurs – any discipline
• Be a reflection of our communities
• $500k - $5M annually businesses
• Mainstream – not small, not “lifestyle”
• The real thing = applied
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Entrepreneurship Minor• Developed in collaboration with Steve Blank at Stanford• Proven model modified to reflect our community and
student base• Significant time outside of the classroom• $25,000 competitive grants to create real companies
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Course Overview1001 Principles of Entrepreneurship (Lawrence)
• Non-business majors• Three day course
1002 Intro to Entrepreneurship (Lawrence)• Opportunity Recognition• Building a business model• Non-corporate viewpoint
1003 Ideation and Customer Development (Dotson)• Testing ideas with customers• Significant time outside of classroom
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Course Overview1004 Entrepreneurial Finance (TBD)
• Bootstrapping• Alternatives to investors
2001 Sales and Marketing (TBD)• Scaling a successful business model• Generating revenue
2002 Generating Revenue and Profits (TBD)• 25% of funding to startups with most traction
2003 Growing the Business (TBD)• 75% of remaining funding to accelerate sales
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Entrepreneurship Minor - Grants
• $25k to startups with product/market fit
• Repayment after $500k in revenue
• No equity stake
• Great experience = great alumni
• Lead USA in student startups with revenue
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Approval Process For Minor
• All WSU approvals met
• May 17th to Regents for approval
• First course this Summer
• Hire Endowed Chair this Summer
• Launch Fall 2013, first startups in 2014
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Other Unique Contributors
• Weber Entrepreneurs Association
• New student startup room in GSBE
• Startup Weekend
• Summit Series (Powder Mountain)
• Startup Ogden
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Startup Ogden
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Startup Ogden
• $3.2M partnership with Campus Stores, CE, WSURF and Ogden City
• Triumphant return of WSU to downtown• Statewide hub for startups and entrepreneurship• Significant opportunities for WSU students
• Mentors• Events• Real world experience• Affordable access• Co-founders and other serendipity
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Goals And Outcomes
• The most student startups with revenue in Utah.
• National recognition as a program that helps students start real companies while in school.
• Successful entrepreneurial alumni that will have a new and unique loyalty to WSU.
• Entrepreneurs that don’t love higher ed will love this program and point to it as “worth it”.
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Questions and Contact Information
Alex Lawrence
801-626-8940 (office)
801-859-8282 (mobile)
[email protected] (email)
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