university of maryland a. james clark school of engineering comprehensive engineering...

University of Maryland • A. James Clark School of Engineering

Comprehensive Engineering Entrepreneurship

David BarbeProfessor ECE

Executive Director, MTECH

David Barbe


• MTECH is a unit of the Clark School of Engineering

• It operates programs that:

– Build a robust tech entrepreneurship culture

– Support new technology ventures


Tech Entrepreneurship Activities

• For faculty, graduate and undergraduate students in engineering and science

• Comprehensive

• Experiential

• A variety of entry points


Tech Entrepreneurship Activities

Students Faculty

IdeasConceptsTechnologies

SustainableVentures

Mature Firms

Young Firms

Hinman CEOs

Tech Entrepreneurship Courses

Tech Startup Boot Camp

Business Plan Competition

Venture Accelerator

Technology

Incubator


Hinman CEOs Program

Outline:

• Background

• Selection Process

• Typical Group

• Community

• Assistance

• Student Company Examples


Background: Hinman Campus Entrepreneurship Opportunities

(CEOs) Program Concept of former Dean of Engineering, Bill Destler Funded by Brian Hinman, alumnus of A. James Clark

School of Engineering and successful entrepreneur

• attract students with an strong entrepreneurial spirit• create a sense of community and cooperation among

like-minded students • impact the way they think about their careers and

destinies • Prepare them to start businesses


Apply on-line in the Spring for following year (Dates are tied to housing contract deadlines) – Targeted at Juniors and Seniors

of ALL MAJORS– Exceptional Sophomores are

considered– 3.0 minimum GPA– Entrepreneurial assessment

based on essay and interview

CEOs Selection Process


• 80-100 Undergraduate Students

• 50% technical majors – engineering, computer science, life and environmental sciences

• 50% business majors and other non-technical majors

• 20-25% female• >50% Diversity Population

Typical CEOs Group


CEOs Community

• All CEOs live in a special section of a residence hall– Live, learn, study, play, team, start-and-try

ventures


• State-of-the-Art Technology

- Wireless technology- Videoconferencing- Cell phone connection

to desk set phone- Computer labs - Business software - Copiers, fax

CEOs Community - Incubator-like Setting


• Working Spaces

CEOs Incubator-like Setting


• Meeting Spaces

CEOs Incubator-like Setting


• Facilitates Close Interactions

• Facilitates Teambuilding

CEOs Building Community and Teams


CEOs Assistance - Seed Fund Grants and Internships

• NCIIA Sponsored Seed funding to help build Prototypes

• Kauffman Foundation – Internships

• Local funding


• Program Directors are primary

• Network of outside mentors

Brian Hinman gives advice to students

Karen Thornton mentors a student

team

CEOs Assistance - Mentoring


CEOs Education

• Introductory Entrepreneurship Course– First semester junior year– Three credits

• Weekly seminars/workshops– Four semesters– Two credits/semester


CEOs Student Company Examples

• Squarespace, Inc

• Arkhon Technology Solutions, Inc

• 57th Street Advertising, LLC


Squarespace, Inc.“Squarespace picks up where blogging software left off. This is

the sort of software the internet has been crying out for.” — The Wall Street Journal “Simply blows the doors off what .Mac is offering right now.” — BusinessWeek

• Squarespace provides a managed web service that allows individuals to piece together a professional web site starting directly from their content. Files, pictures, and text can be placed directly into the Squarespace platform, which will then structure and publish a professional web site that an individual or business can manage entirely from the web.

• Anthony Casalena (Founder and CEO) – Hinman CEO (Computer Science Major, 2005 graduation)

Funding

• TEDCO Award - $50,000

• 1st Place, University of Maryland Business Plan Competition - $15,000

http://www.squarespace.com


Arkhon Technology Solutions, Inc.• Arkhon Technology Solutions is a technology consulting firm

that operates within the Washington, DC Metropolitan area. The firm provides computer and telecommunications networks to small- and medium-sized businesses throughout the area, with 20 clients at the end of 2004.

• Arkhon’s goal is to become the market leader in technology consulting to small to medium sized businesses in the Washington, DC Metropolitan area. Arkhon intends to be a firm that clients will be able to come to for all their technology needs. The company is dedicated to providing the highest quality service in the industry to their clients.

• Matt Weinstein, President and Founder of Arkhon Technology Solutions, has a strong background in information technology industry, including sales, professional services, and content production. Hinman CEO, Computer Engineering, graduation 2005.

Revenues and Funding• $10,000 seed money invested by the founders to launch• All subsequent revenue generated from client contracts to fuel

company growth• Total revenues in 2004 approach $350,000 http://www.arkhon.com


57th Street Advertising, LLC• 57th Street Advertising, LLC is a direct-mail-based advertising

company based in the Greater Baltimore-Washington Metropolitan Area. 57th Avenue serves the advertising needs of restaurants in the city of College Park through MenuTeaser™, an exclusive advertising publication distributed to both College Park residents and University of Maryland students.

• Borna Ghavam, co-founder, is a Hinman CEOs student and junior electrical engineering student in the A. James Clark School of Engineering.

• First Product: MenuTeaser™: A digest-sized, full-color, saddle-stitched booklet—packed with local food merchant menus and related information—mailed to consumers for free. First edition distributed in Fall 2004 to over 70,000 College Park residents.

Future Products• BeautyTeaser™: beauty merchant services lists and fees.• AutoTeaser™: automotive care serves and fees.• LoveTeaser™: ads and services for local florists, jewelers,

chocolate/candy shops, gift/card shops, and fine dining.


Tech Entrepreneurship Courses

• Introduction to Entrepreneurship

– Required course for Hinman CEOs– (Also offered in the Winter term and a

version as a Summer Course for High School Students)

• Fundamentals of Technology Startup Ventures

– Seniors (and graduate students)

• Technology Innovation

– Graduate students and seniors


Tech Startup Boot Camp• Kicks off the academic year• 300 students and faculty• National and Regional sponsors• National Model• Basic startup processes

– Evaluating tech ideas– IP basics and licensing– Legal fundamentals– Building a team– Obtaining financing– Entrepreneur experiences

• Presented by experienced VCs, service providers, and tech executives

• Networking

http://www.mtech.umd.edu/VentureCatalyst/Boot_Camp/2003/


Business Plan Competition “New Venture Challenge”

• Begins between semesters

– exec summaries

• Culmination of the academic year

– Finals in May

• $35K to $50K in prizes raised from sponsors

• Select top 16 based on executive summaries

• Judging panel selects top six for full plans and presentations

• Networking and mentoring sessions with six finalists and judges/sponsors during the Spring semester


VentureAccelerator • Substantial Hands-on consultation and advice to selected

Startups, mostly in the incubator:

– Introductions to funding sources

– Preparation of presentations and business-plans

– Strategic planning

– Executive recruitment

• Planned Step-by-step processes for new company formation– Managed student e-teams conducting:

• Market research

• Business planning

• Marketing

• Financial analysis


Technology Incubator

• On Campus - Outstanding environment

• Applicants are spinouts from the Clark School, large companies and government research organizations

• Rigorous Acceptance Process - technical and business

• Residence for up to four years

Early stage incubator offering technical & business assistance, as well as state-of-the-art biotech equipment and modern office facilities


Some Results

• Strong, comprehensive technology entrepreneurship culture for students and faculty

• One new UMD tech startup per month

• 50 graduates of incubator program• Two IPOs: Digene and Martek• Over 1,800 jobs created


Contact Information and Web Sites

[email protected]

www.mtech.umd.edu

www.venturecatalyst.umd.edu

www.hinmanceos.umd.edu

http://www.mtech.umd.edu/

http://www.venturecatalyst.umd.edu/

http://www.hinmanceos.umd.edu/

university of maryland a. james clark school of engineering comprehensive engineering...

Documents

university of maryland

dean of engineering

technical majors engineering

setting slide

mtech slide

teambuilding ceos

fax ceos community incubator

business majors