Entrepreneurship is Evolving

Entrepreneurship is Evolving

College Metrics State Funds Enrollment Where

Revenue Company Metrics The S Curve The Innovation Window New Growth Strategy Original Strategy Time

Importance to Cities and Counties 13,000 EDOs Competed for 800 Relocations Entrepreneurs create 3,000,000 Jobs per year

Why Entrepreneurial Education is important to individuals 34% of 2012 Workforce is Contract Based 70% of 2030 Workforce is projected to be Contract Based

How Do You Judge Success 1. Culture 2. Education 3. Resources 4. Engagement

Best Practices Metrics to Consider Entrepreneurial Education 1. Does your college offer degrees or certificates in entrepreneurship? 2. What percent of college programs embed entrepreneurial courses or objectives? 3. What percent of students participate in entrepreneurial education? 4. What percent of faculty have an entrepreneurial background? 5. Are there student based entrepreneur clubs and organizations on campus? 6. Does your college offer internships, externships, capstone projects, or other service learning with local businesses? 7. Does your college offer students access to entrepreneur resources and mentoring? 8. Does your college host an annual business plan competition, if so what is the prize? 9. Are there scholarship funds available for entrepreneurial students, if so how much? 10. What percent of recent graduates have started a business?

Best Practices Metrics to Consider Entrepreneurial Resources 1. What entrepreneurial areas does your college offer or engage in? a. Small Business Development b. Incubation c. Community & Corporate Training d. Applied Research e. Technology, Fabrication, or Prototype Labs f. Design Studio g. Start-up Weekends h. Technology Transfer i. Mentorship j. Funding Raising 2. Is office space on you campus dedicated to entrepreneurship, if so how many square feet? 3. Does your college have employees dedicated to entrepreneurship, if so how many? 4. Has your institution received grants or other funding for entrepreneurship, if so how much?

Best Practices Metrics to Consider Business, Community, and Alumni Engagement 1. Does your college offer programs to engage alumni entrepreneurs? 2. Does your college interact with local economic development agencies? 3. Does your college offer programs to the community on entrepreneurship, if so how often? 4. Per year, how many local businesses and startups has the college helped launch?

ENTREPRENEUR OF THE YEAR

Entrepreneur ENTREPRENEUR of the OF Year THE YEAR Innovative, fundraising event yields high return on investment

Entrepreneur of the Year Award Honors an outstanding business founder or leader who supports community agencies through philanthropy

IRSC s Entrepreneurship Program In 14 years, IRSC s endowed fund has grown to $1.4M to sustain: Entrepreneur of the Year Award Event Endowed Teaching Chair Distinguished Lecture Series Dan K. Richardson Entrepreneurial Suite including: Small Business Development Center Innovation Incubator Corporate and Community Training Institute

Event Yields High Return on Investment IRSC s Entrepreneur of the Year recipients have donated more than $10,000,000 to IRSC since 2000.

Benefits of the Event Establishes or enhances relationship with recipient and family Introduces potential donors through the recipient s invitation list Provides increased awareness for college

IRSC S EVENT OVERVIEW IRSC s Event Overview Unique theme for each recipient

Dr. Kevin Cooper Director, Applied Research & Entrepreneurial Activities Indian River State College

How do you get 18 26 year olds involved? 1. Understand their culture and value systems 2. Eliminate obstacles 3. Market to them

Marketing Data shows that Millenniums: 1. Do not pay attention for long periods of time 2. Learn in a wide variety of methods 3. Know a lot

Marketing Projected Revenue 2012 2013 Current 2013 2014 Projected 2013 2014 2014 2015 2015 2016 2016 2017 2017 2018 2018 2019 Sponsorship Incubator Bank $10,000 $25,000 $75,000 $75,000 $75,000 $75,000 $75,000 Other $10,000 $10,000 $15,000 $15,000 Contracted Services $6,000 $18,000 $48,000 $120,000 $150,000 $150,000 $150,000 $150,000 Facility and Equipment Usage $11,000 $19,000 $19,000 $54,000 $54,000 $57,240 $60,674 $64,315 Grants Banks $17,000 $5,000 BlackStone $50,000 $50,000 Kaufman Entrepreneur in Residence $50,000 $50,000 TBD $50,000 $50,000 $50,000 Direct Funding 4 Counties $50,000 $100,000 $100,000 $100,000 4 Cities $25,000 $50,000 $50,000 $50,000 Applied Research 5% Indirect from Grants $30,000 $45,000 $67,500 $101,250 $151,875 Commercialization $50,000 $75,000 Total $44,000 $42,000 $92,000 $379,000 $509,000 $559,740 $651,924 $731,190

Culture Change