Overview of Entrepreneurship at Penn State

1. Overview of Entrepreneurship at Penn State Philip G. Boyer, M.B.A. Director - Engineering Entrepreneurship Minor

2. Overview of Entrepreneurship at Penn State • Current Entrepreneurship Components • Engineering Entrepreneurship Minor (300+ Graduates) • Entrepreneurship based courses – 45+ different course offerings • Penn State Entrepreneurs Network - http://entrepreneurship.psu.edu/ • Lion Launch Pad – Student Business Incubator – http://www.lionlaunchpad.org/ • Garber Venture Fund - http://www.smeal.psu.edu/fcfe/garber • Idea Pitch Competition – Annual program • Gaelen Endowment for Engineering Entrepreneurship and Leadership • Norbert and Audrey Gaelen Entrepreneurship Speaker Series • E. V. Bishoff Engineering Entrepreneur in Residence • Ag. Sciences Entrepreneurship Speaker Series • Altoona Campus – Sheet’s Center for Entrepreneurship • Berks Campus – Engineering Entrepreneurship Minor offered

3. Overview of Entrepreneurship at Penn State The Engineering Entrepreneurship Minorwas academically approved in the Spring of 2002. This was the first and only entrepreneurship based minor at Penn State. Vision – deliver a dynamic, multidisciplinary minor that inspires and prepares undergraduate students to be world-class technology business innovators. 300+ E-Ship Minors Awarded To Date (as of Spring 2011)

4. Overview of Entrepreneurship at Penn State Engineering E-Ship Minor (18 total credits) Four Core Courses: (12 Credits) Engr 310 – Entrepreneurial Leadership (3 Credits) Engr 407 – Technology Based Entrepreneurship (3 credits) Engr 411- Entrepreneurship Business Basics (3 credits) Engr 497A – Entrepreneurship Capstone (3 credits) Technical Electives: (6 credits)

5. Overview of Entrepreneurship at Penn State Proposed Future of Entrepreneurship at PSU Provost Erickson has asked a team from the College of Engineering and Smeal Business School to look at developing increased access to undergraduate entrepreneurship education for all students. We have presented a plan to the Board of Trustees and we are in the process of finalizing a new approach to delivering this revised concept.. New Vision Statement – To deliver a dynamic, multidisciplinary entrepreneurship minor that inspires and prepares undergraduate students to be world-class business innovators who create value, address global challenges and change the world.

6. Overview of Entrepreneurship at Penn State Proposed E-Ship Minor In order to effectively deliver this new evolution of entrepreneurship at Penn State, the task team has recommended the following course of action: The Entrepreneurship Minor would have two stages. First, all students from all majors and all interest areas would take nine credits of “common core” entrepreneurship courses in this entry stage. The core would consist of three classes: 1. Introduction to the Entrepreneurial Mindset 2. Entrepreneurial Leadership 3. New Venture Creation These core courses would ensure the entrepreneurship fundamentals are covered in a multidisciplinary setting.

7. Overview of Entrepreneurship at Penn State Proposed E-Ship Minor (Cont.) The second stage of the Minor involves creating tracks of specific concentration. The tracks are not necessarily aligned with specific college boundaries. Each track would be an additional 9 credits in a specific area of entrepreneurial interest. Examples might include: Family Business High Growth Venture Capital Tech Based Entrepreneurship New Media Social Entrepreneurship Agro Business Etc.

10. Overview of Entrepreneurship at Penn State Proposed E-Ship Minor (Cont.) The recommendation of the task group is to have the three core courses fall under the jurisdiction of Rob Pangborn, Vice president and Dean for Undergraduate Education. A white paper was completed and forwarded to Provost Erickson under the cover of a letter from Deans Wormley and Thomas.

11. Overview of Entrepreneurship at Penn State PSEN - PennStateEntrepreneurs Network This is a student run organization that has M.B.A. students who help manage a network of undergraduate students, who are actively involved in the entrepreneurship community. The organization provides a network of contacts and maintains a communication channel for student activities & announcements.

12. Overview of Entrepreneurship at Penn State Lion Launchpad The Lion Launchpad is a 501(c)3 organization, making it a separate entity from Penn State and the E-SHIP program. However, the goal of the Launchpad is to encourage student-run businesses. Any fledgling business can apply to be a Launchpad member, as long as at least one person on the team is a Penn State student. visit www.lionlaunchpad.net

13. Overview of Entrepreneurship at Penn State Garber Venture Fund Providing MBA students with real-world experience is vitally important to the Farrell Center for Corporate Innovation and Entrepreneurship.  As part of its mission, The Center oversees the Garber Venture Capital Fund.  Established in 1999 by Dr. John Garber and his wife Bette, this $5 million venture fund brings to reality the process of private equity investing in early stage technology-based companies. http://www.smeal.psu.edu/fcfe/garber

14. Overview of Entrepreneurship at Penn State Gaelen Endowment for Engineering Entrepreneurship Through the Gaelen Endowment, we are able to bring in “serial” entrepreneurial speakers and lecturers. This endowment allows for early seeding of student based ventures.

15. Overview of Entrepreneurship at Penn State Questions & Comments