Collaborative for Entrepreneurship

1
Collaborative for Entrepreneurship Innovation

• McRae C. Banks, Director, macb_at_wpi.edu
• Gina M. Betti, Assoc. Director, gbetti_at_wpi.edu
• Lorelle Tross, Admin. Assistant, kwamina_at_wpi.edu

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Dinner With Entrepreneurs (DWE)

• Founded with a John and Jeanne Hughes Foundation
  grant
• Students interested in entrepreneurship meet in
  small groups with entrepreneurs over dinner
• Meal is free to all and is held 6 times annually
• Approximately 200 students and 30 entrepreneurs
  per year attend

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DWE Process

• Students register online via the CEI website
• Event starts at 500 p.m. with a Networking
  Skills Workshop from nationally known executive
  coach, Alan Glou.
• Concurrently, the entrepreneurs meet with the
  director and associate director to have dinner
  and become acquainted with each other (this is
  necessary because the entrepreneurs were not able
  to eat when we had them eating with the students
  they were constantly answering questions!).
• At 600 p.m. the entrepreneurs join the students,
  a brief introduction to the CEI and its programs
  and activities is given, the entrepreneurs are
  introduced, and the structure of the evening is
  laid out for participants.
• By 610 the entrepreneurs are seated at dinner
  rounds and the students are passing through the
  buffet line.

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DWE Process (contd)

• At the tables, the entrepreneur has each student
  introduce him/herself and explain their interest
  in entrepreneurship. Following that, the
  entrepreneur tells about his/her entrepreneurial
  journey, answering questions along the way.
  Additionally, entrepreneurs ask questions of the
  students.
• At 650, we have the entrepreneurs switch tables,
  ensuring that all students personally meet two
  entrepreneurs.
• Later during the evening, evaluation forms are
  passed out along with complimentary department
  pens.
• At 725 we interrupt again and ask students to
  complete the evaluation form and then enter the
  third period, which we call Free For All.
• During Free For All, students can move to another
  table to visit with whichever entrepreneur they
  want, whether they have visited with him/her
  previously or not.
• At 800 we conclude by thanking the entrepreneurs
  and the students.

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DWE Outcomes

• 30 to 42 students participate per dinner.
• Analysis of participant evaluations tells us
  that
• 94.6 believed event was excellent or very good
• 100 would encourage a friend to participate
• 91.9 now have a very high or high level of
  interest in learning more about entrepreneurship
  and
• 78.4 now have a high level of interest in
  entrepreneurship as a career choice.

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DWE Outcomes (contd)

• Paraphrased excerpts from evaluation forms
• liked learning about the startup process
• enjoyed interacting with entrepreneurs and other
  students
• valued the encouragement received from everyone
  
• so informative
• it was both informal and formal
• appreciated hearing the entrepreneurs tell where
  they were, where they are, and where they are
  going and
• liked learning about future opportunities.
• Several students email to say they schedule
  follow-up appointments with entrepreneurs to
  discuss their business ideas or employment
  opportunities.

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DWE Outcomes (contd)

• These events help us discover new networks of
  student entrepreneurs seeking to gain insights
  from guest entrepreneurs and each other.
• We have engaged many entrepreneurs, all of whom
  have been impressed with our students and
  programs, many of whom were not engaged prior to
  the event.

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Overall Program Challenges

• Funding and space are inadequate. Paid staff
  needs to be increased. The CEI _at_ WPI delivers
  with one full-time staff professional, one
  full-time administrative assistant, two part-time
  students, and almost 50 volunteers
• two conferences, six Dinner with Entrepreneurs
  events,
• 10 WPI Venture Forum programs,
• two business plan competitions,
• an invention contest, an idea contest,
• business plan workshops, quarterly seminars
• a weekly radio show, a monthly newsletter,
• bimonthly networking events,
• annual breakfasts with entrepreneurs and
  executives,
• as needed workshops to meet student and faculty
  needs.

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Goals Going Forward

• Raise public awareness of programs
• Discover and cultivate donors and ambassadors
• Raise internal support for inclusion in
  curriculum across the majors
• Add breadth and depth to programs
• Thank you!