WSU NAC Presentation (4-5-13)

Entrepreneurship at Weber StateAlex Lawrence

Vice Provost, Innovation and Economic DevelopmentDirector, Entrepreneurship Program

Overview• Catalysts for Entrepreneurship at WSU

• Our Unique Focus

• Entrepreneurship Minor

• Other Contributors

• Goals and Outcomes

• Questions and Contact Info

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

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

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

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

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

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

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

Other Unique Contributors

• Weber Entrepreneurs Association

• New student startup room in GSBE

• Startup Weekend

• Summit Series (Powder Mountain)

• Startup Ogden

Startup Ogden

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

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”.

Questions and Contact Information

Alex Lawrence

801-626-8940 (office)

801-859-8282 (mobile)

alexanderlawrence@weber.edu (email)

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