Weinert Center for Entrepreneurship

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Weinert Center for Entrepreneurship USASBE 2009
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Agenda

• Documentation of the following
• Innovativeness and uniqueness
• Quality and effectiveness
• Completeness and comprehensiveness
• Sustainability
• Transferability

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Weinert Center for Entrepreneurship
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Weinert Center for Entrepreneurship

• In School of Business
• Primary focus is on MBAs. We also offer an
  undergraduate major and have Ph.D. students
• Affiliated with campus-wide programs and
  activities
• INSITE
• Kauffman Grant
• Entrepreneurship Association
• Badger Angels Network
• Part of relatively small MBA program -- 120
  students per year
• Hundreds of students in MBA classes, but only 10
  majors admitted each year

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Weinert Center Faculty/Staff
Jon EckhardtProfessor, Management and Human
Resources Phil GreenwoodFaculty/Associate Phil
KimProfessor, Management and Human
Resources Ankur Malhotra Faculty/Associate Anne
MinerProfessor, Management and Human Resources,
INSITE/SMILES
Dan OlszewskiCenter and WAVE Director Ramon J.
AldagExecutive Director Janet
ChristopherAcademic Specialist Rebecca
BuckmanUniversity Services Program
Associate Lori CrossFaculty/Associate
Barry Gerhart Chair, Management and Human
Resources Department
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Affiliated and Core Faculty
Mason CarpenterM. Keith Weikel Professor in
LeadershipCynthia DeversProfessor, Management
and Human Resources Department Gregory
DeCroixProfessor, Operations and Information
Management Randall Dunham Keenan A. Bennett
Chair of Industrial Management Donald
HauschDickson-Bascom Professor of Business
Jan HeideIrwin Maier Chair of MarketingKenneth
KavajeczProfessor, Finance, Investment and
Banking Qing LiuProfessor, Marketing Antonio
Mello Professor, Finance Hollis
SkaifeProfessor, Accounting and Information
Systems Masako UedaProfessor, Finance and
Investment Banking
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Weinert Advisory Board
Andy Albert Managing Director/Operating Partner
Svoboda Capital Partners LLC Laurie
Benson CEO Inacom Chris Hornung CEO Next
Testing Steve Jacobson President Fairway
Independent Mortgage Co. Aaron
Kennedy Founder Noodles and Company Jack
Lavin Former CEO and President Arrow Financial
Services
Tom Pyle Chairman The Pyle Group Mike
Smith CEO Avelle, the new Bag, Borrow or
Steal Irwin Smith Senior Managing
Director Nakoma Capital Management, LLC Neil
Thall Former CEO Aldata Solution, Inc. David
Walsh Partner Foley Lardner, LLP
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WAVE Advisory Board
Chuck Oehler The Oehler Group Kay
Plantes Plantes Company Neil
Peters-Michaud Cascade Asset Mgt. Paul
Reckwerdt TomoTherapy Terry Sivesend Poseidon
Probes LLC. Peter Zaballos Frazier Technology
Joe Boucher Neider Boucher Scott
Braucht Scott Braucht Assoc. LLC Laura
Francis Promega John Komives Lakeshore
Group Greg Lynch Michael Best Friedrich
Mike Mathews Ruedebusch Development and
Construction Dan Neely Networked
Insights John Neis Venture Investors of
WI Bruce Neviaser Continuum IP Dan
Nichols Anchor Bank
Innovativeness and Uniqueness
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Weinert Center Role
Faculty / Staff Development
Research
Secondary
Outreach/Economic Development
Fundraising
Primary- STUDENTS
Alumni Support
Recruitment
Instruction
Placement
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Alumni Support
Recruitment
Instruction
Placement
Current Past

• Competitive Analysis of other programs
• Presented at National Conference of E-ship
  Centers
• E-mail to W-Club alumni re scholarship in E-ship

• Student Competitions
• VCIC
• Burrill
• WI Governors
• SDSU
• Moot
• 50 guest lecturers/year
• Spring 07 trip to Seattle
• Fall 07 trip to Chicago
• Undergrad major
• Open more e-ship courses across campus

• Published E-Resume Books for Board and UW
  Research Park
• Created database of Dane Co. Top 200
• WARF, Badger Angel Capital Network other campus
  linkages
• Business School survey shows E-ship has above
  average salaries 5 years out

• Newsletter expansion
• 100 giving from grad class in 2007
• Created a Friends of the Center email list
  (500)
• Proactive job search for local firms (WARF
  start-up manager)

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Alumni Support
Recruitment
Instruction
Placement
Going Forward

• Improved marketing materials
• Website
• Print
• Advertising
• Facebook
• UW Alumni Assoc.
• W Club Alumni

• Improved integration of lock-step courses
• WEB 2009
• New undergrad residence hall
• Spring 09 Trip TBD

• Student start-ups (TBD)
• Start-up mentoring service- MERLIN
• Internship opportunities via Career Center and
  Advisory Board

• Improved networking opportunities between
  students and alums
• Facebook/ Linkedin groups

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Students are Admitted Directly to the Weinert
Center -- Benefits

• Interview all applicants that pass initial
  screen, preferably in person
• Helps assure real interest in, passion for, and
  promise for entrepreneurship
• Know students from Day 1 and do intensive
  interviewing and surveying to learn more about
  specific goals, concerns, perceived areas of
  strength or weakness
• Can better structure sequence of course offerings
• Second years can serve as mentors
• Work on internships

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Investment Fund

• The Weinert Applied Ventures Fund and Neviaser
  Entrepreneurial Fund are available to make
  investments in existing firms and promising
  student start-ups
• Currently up to 100,000 per investment

Dan Neviaser
Jim Weinert
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WAVE Funded Start-Up Businesses
Year Name Description
2007 WindLift Wind-Powered Pumping System
Sandbox International Innovation Focused Consulting Firm
2006 GetIPIC (a.K.a. Card) Identity Theft Protection
2005 Ratio Drug Delivery Patch for Prescribed Meds
2002 Fluent Systems Wireless Feedback System
Alto Vino Wine Distributorship
2001 Power Designers Power Systems Equalizer Technology
SciBiz Commercialization of Intellectual Property
Agave Group Entrepreneurial Consulting
1999 Cascade Asset Management Computer Systems Recycling
Errand Solutions Internet Concierge Business
1998 Gala Design Protein Expression Technologies
UCLID Software (ExTract Systems) GPS Mapping Conversion Software
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WAVE Funded Start-Up Businesses
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Other WAVE Start-Up Businesses
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Curriculum
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WAVE Practicum I 2

• Higher level, integrated, and expanded coverage
  of material from other courses
• Close interaction with WAVE board
• Three projects
• Work with individual or business to deal with
  entrepreneurial issues -- sometimes from
  University Research Park
• Work with Wisconsin Alumni Research Foundation
• Work on own projects

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WAVE Practicum I II -- Wisconsin Alumni
Research Foundation (WARF)
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Class Speakers for Fall 2007- Spring 2008

• Mary Burke-Former WI Sec. of Comm./TREK Bike
• John Schuster-YSM
• Beth Donley, Stemina
• Sherwin Greenblatt , Bose Founder
• Mark Bennett, Total Training Solutions
• Tom Burke, Primorigen BioSciences
• Dave Casimir, Casimir Jones
• Andy Cohn, WARF
• Scott Daigger, Sandbox International
• Todd Wendrick, Sandbox International
• Bryan Esch, DeWitt Ross Stevens
• Craig Fieschko, DeWitt Ross Stevens
• Ralph Kauten, Quintessence Biosciences
• Ankur Malhotra, Matador Consulting
• Pat McGraw, Amcore Bank
• Sonya Newenhouse, Madison Environmental Group
• Brent Newport, aKa Card
• Dan Nichols, Anchor Bank
• Ray Zemon, Shopbop

• John Neis, Venture Investors
• Bruce Neviaser, Continuum
• Jim Weinert, Founder, Weinert Center
• Pete Zaballos, Frazier Technology
• Paul Reckwerdt - TomoTherapy
• JJ Vosskamp - Cascade Asset Mgmt
• Laurie Benson - Inacom
• Deven McGlenn, Neoclone
• Bill Skeens, Prairie City Bakery
• Chris Hornung - Next Step
• Per Anderson, Metavante
• Jay Loewi-QTI Group
• Judy Faulkner-Epic Systems
• Joan Gillman, Wisconsin School of Business
• Rimas Buinevicius -Sonic Foundry
• Laura Frances, Promega
• Charlie Flad, Sun Prairie Police Dept.
• Heather Hilleren, GreenLeaf Market
• Ben Hobbins, Lake Resources Group

• Chad Sorenson, Sologear
• Kavi Turnbull, WAVE Student
• Elizabeth Wewerka, Lady Moxie
• Chris Dueringer, US Bank
• Joe Boucher, Neider Boucher, S.C.
• Elizabeth Wewerka, Lady Moxie
• Robert Creighton, WindLift
• George Arida, Venture Investors
• Ian Gurfield, Ians Pizza
• Rock Mackie, TomoTherapy
• Sue Alt, Kitchen Hearth
• Amanda White, Community Car
• Tim Gill, Netconcepts
• Ben Hobbins, Lake Resources Group
• Shannon Davis, Virchow Krause Co.
• Joe Pieper, Associated Bank
• Ruth King, The Profitability Channel
• Carol Schroeder, Orange Tree Imports
• Kevin Phelps, WI Book Store

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Outside Elective Courses
Operations and Technology Management OTM 671 -
E-Bus. Technology, Strategy Application OTM
710 - Operations Research I OTM 711 -
Operations Research II OTM 770 - Quality
Productivity Improvement OTM 861 - Strategic
Management Qualitative Planning Public Affairs
PUB AFFR 841 - Smr - International Business
Government Real Estate REAL EST 730 -
International Real Estate Transportation and
Public Utilities TRAN PU 725 - Public Utilities
Law LAW 731 - Constitutional Law I LAW 744 -
Administrative Law LAW 753 - Intro-Intellectual
Property Law LAW 802 Civil Procedure II LAW
817 - Business Organizations I LAW 953 - Bus
Org Smr Law Entrepreneurship LAW 991 -
Directed Reading Management and Human Resources
MHR 703 - Global Issues in Management MHR 765 -
Technology Entrepreneurship MHR 765 - Strategic
Management in the Life and Engineer Sciences
MHR 734 - Venture Creation Business Plan
Development MHR 799 - Reading Research
Management Marketing MARKETING 705 - Consumer
Behavior MARKETING 710 - Marketing Research
MARKETING 715 - Marketing Communications
MARKETING 724 - Strategic Global Sourcing
MARKETING 725 - Marketing Channels MARKETING
730 - Product Price Management MARKETING 737
- Developing new Products MARKETING 765 - New
Product Development MARKETING 765 - Supply
Chain Integration through ERP Systems MARKETING
765 Emerging Issues in New Product
Development Math MATH 340 - Matrix Linear
Algebra
Agriculture and Applied Economics AAE 520 -
Community Economic Analysis AAE 575 - Economics
of Innovation Technology Accounting ACCT IS
603 - Financial Statement Analysis ACCT IS 620
Fundamentals of Taxation ACCT IS 701 -
Financial Reporting I Consumer Science CNSR SCI
561 - Direct Retailing Economics ECON
464 - International Trade Finance ECON
671 - Energy Economics Educational Leadership and
Policy Analysis ELPA 841 - Legal Aspects of
Higher Ed ELPA 870 - The Politics of
Education Educational Psychology Ed Psych 761 -
Statistical Methods - Applied to Ed
II Engineering CIV ENGR 423 - Air Pollution
Measurement Control ENVIR ST 810 - Energy
Analysis Seminar ME 370 - Energy Systems
Laboratory ME 466 - Air Pollution - Measure
Control ME 549 - Product Design Environmental
Studies ENVIR ST 809 - Energy Analysis Policy
Seminar ENVIR ST 810 - Energy Analysis
Seminar Finance FINANCE 635 - Security
Analysis FINANCE 721 - Investment Theory
Application FINANCE 726 - Valuation Corporate
Investment Decisions FINANCE 740 Analysis
Fixed Income Securities General Business GEN
BUS 765 - People, Planet, Profit Expl
Sustainability Bus GEN BUS 765 - Business
the Social Side of Sustainability
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Meeting Entrepreneurs World-Wide

• Seattle California
• International Trips
• Chicago

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Unique Entrepreneurship Extension

• Second Wisconsin Entrepreneurial Bootcamp (WEB)
• WEB focuses on three domains of technology
  entrepreneurship, including how to
• 1. Imagine, create and assess opportunities.
  (Using multiple lenses such as viable business
  models and intellectual property issues.)
• 2. Develop resources for organization strategy.
  (Form teams, seek funding).
• 3. Use accounting and finance (As language and
  assessment tool). For all content areas, WEB
  offers specific opportunities to
• Develop the student's ability to use practical
  tools
• Deepen the student's conceptual ability to
  explore fundamental links between tech and
  business
• Broaden the student's factual knowledge about
  technology strategy and entrepreneurship.

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Second Wisconsin Entrepreneurial Bootcamp (WEB)
Students
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Competitions
COMPETITION AWARDS
MBA International Business Case Competition 1st Place
Pac-10/Big Ten Case Competition 2nd Place
Wisconsin Governors Business Plan Contest 1st, 2nd Place
Venture Capital Investment Competition, Austin, TX 1st, 2nd, 3rd Place
International Business Plan Competition, Lincoln, NE 1st Place
Lee Kwan Yu Global Business Competition, Singapore 1st Place
G. Steven Burrill Technology Business Plan Competition, UW-Madison Nelson Institute Green Entrepreneurial Venture Recognition 1st, 2nd 3rd Place, Honorable Mention 1st Place
Tong Prototype Contest, UW-Madison 1st Place
NASDAQ/Qualcom Business Plan Competition, San Diego, CA 1st, 2nd Place
Moot Corp Business Plan Competition, Austin, TX 2nd 6th Place, Outstanding Presentation
Oregon State New Venture Competition, Eugene, OR 2nd Place
University of Cincinnati Spirit of Enterprise MBA Business Plan Competition 2nd Place
Elevator Pitch Olympics at the Wisconsin Early Stage Symposium 1st Place
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Students

• The true test is the success of our students.
  The following slides will introduce them to you
  and show the statistics regarding their placement
  over the past three years.
• Survey shows that entrepreneur students from our
  program seven years after graduation averaged
  130,000 compared to 107,500 for all Wisconsin
  School of Business masters degree alumni seven
  years post-graduation.

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WAVE Student Placement at Graduation 2006-2008
Small/Mid-Sized Company
Service Provider
Founded Start-Up
Large Company
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Ranked 13 in U.S. 1 in Big Ten in 2008
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Innovativeness and Uniqueness

• Selection directly into program
• Work on outside projects in all classes
• Dual advisory boards
• WAVE investment fund
• Spring and winter trips
• WAVE Practicum
• Personal, individualized attention
• Financial support for all Weinert Center students
• Other activities and programs such as WEB, dorm
  space, student incubator

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Quality and Effectiveness

• Satisfaction of graduates all 2008 graduates
  made financial contributions to the center
• Success of start-ups
• Internship success
• Placement success
• Salaries and equity
• More applicants than any other center
• Businesses and individuals helped by center
• Assistance in development of entrepreneurship and
  related infrastructure in the Madison area.
• Entrepreneur Magazine/Princeton Review ranking
• Active alumni involvement

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Completeness and Comprehensiveness

• Full range of course offerings in the Weinert
  Center, School of Business, and across campus
• Links across campus to INSITE, Kauffman grant,
  Entrepreneurship Association
• Kauffman support to grow entrepreneurship at
  UW-Madison, across the UW system, and statewide

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Sustainability

• Endowment
• WAVE Fund
• Kauffman funding, including leadership by
  Chancellor Martin
• 85 million Wisconsin School of Business naming
  grant
• Two very supportive advisory boards
• Continuing curriculum refinement, development,
  and coordination
• Links to WARF and University Research Park
• Strong, active alumni base
• Ongoing fundraising and alumni involvement
  activities

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Transferability

• Our mission is consistent with the USASBE mission
  which is to advance knowledge and foster business
  development through entrepreneurship education
  and research.
• Leading entrepreneurship faculty continue to do
  research, teaching, and advancement of
  entrepreneurship.
• Extensions across campus provide evidence of
  transferability.

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Questions?

• Thank you for the opportunity to show the USASBE
  more in-depth details of our program!