Entrepreneurship at UNC Kenan-Flagler
February 22, 2012
Patrick VernonClinical Asst. Professor of Entrepreneurship
2
• Teach• Connect• Research
CONNECTCONNECTTEACHTEACH
RESEARCH
Entrepreneurship at Kenan-Flagler
3
BSBAEmphasis
9 Classes14 Sections
BSBAEmphasis
9 Classes14 Sections
Full-Time MBA Concentration
17 Classes 28 Sections
Full-Time MBA Concentration
17 Classes 28 Sections
EMBAElectives
2 Classes3 Sections
EMBAElectives
2 Classes3 Sections
TEACHTEACH
GLOBALGIE
GLOBE GEL
GLOBALGIE
GLOBE GEL
Total–28 classes–45 sections–74 credit hrs.
Total–28 classes–45 sections–74 credit hrs.
4
TEACHTEACH
MBA Courses
5
BSBA Emphasis
1. Entrepreneurship and Bus. Planning2. Eship: Opportunity Assessment (New Ventures Analysis)
3. Entrepreneurial Consulting
4. Entrepreneurial Finance
5. Private Equity
6. Family Business I and II
7. Sustainable Businesses and Social Entrepreneurship
8. GLOBE: Private Equity
9. GLOBE: Global Venturing
TEACHTEACH
3.0 Credits
6.0 Credits
6
Study Other Startups
BUSI 506: Eship: Opportunity AssessmentFormerly New Ventures Analysis
7
BUSI 505: Entrepreneurial Consulting Experiential Education Credit
8
Entrepreneurial Activities
• Teach• Connect• Research• Fundraising• Communications
CONNECTCONNECTTEACHTEACH
FUNDRAISING
RESEARCH
COMMUNICATIONS
9
www.startup.unc.edu
10
www.startup.unc.edu
4 8
CONNECT
CONNECT
11
1
2
3
4
5
6 New
Connect Programs
ElevatorPitch
ElevatorPitch
Semi-FinalsSemi-Finals
Track FinalsTrack Finals
Prep Session
Prep Session
Alumni TrackAlumni TrackFinalsFinals
Prep Session
Idea HatchIdea Hatch
Prep Session
FEASIBILITY PLANNINGFINANCINGSummer
WorkshopsSummer
Workshops OPPORTUNITY
GEL DISCOVERY SoftLaunchEMBA
UNC VCIC
UNC VCIC
VCIC Regional Finals
FINALSFINALS
DC DEN SFO PHI NYC LAX BOS UK SP IND
Prep Session
Prep Session
Prep Session
Prep Session
12
CENTER FOR ENTREPRENEURIAL STUDIES
CONNECTCONNECT
1
2
3
Private Equity Alt. Investment Conference
4
Internship Programs CVF AIF CEF 2Panels CEF 1Prep5
“Coffee for Eight” 4 84 8 4 84 84 8 4 84 8 4 84 84 8
“clink” NYC
“clink” NYC
“clink” BOS
“clink” BOS
“clink” SFO
“clink” SFO
“clink” RTP
“clink” RTP
6
“clink” EUR
“clink” EUR
13
Carolina Challenge
• 7th Annual• $50,000 prize money (Stedman Endowment)
• High visibility across UNC and RTP
• 60-100 teams
• New in 2012: alumni track
www.carolinachallenge.org
CONNECT
CONNECT
14
Pitch Party
• 1st Annual Pitch Party: 12/1/11
• 50 teams, 60 judges
• Nearly 200 in attendance
• “Super Networking”
www.carolinachallenge.org/pitch
“This was an amazing event! So much energy, fun, clever format, and great networking. Just tops… Holden sends his congratulations. ”
Judith Cone, Special Asst. to the Chancellor for Innovation & Entrepreneurship
CONNECT
CONNECT
15
Private Equity Fund
• $4.4M committed
• 16 students/year
• Unique opportunity for students to invest
• 13 investments so far…
www.kfpefund.com
CONNECT
CONNECT
16
VCIC
• 60 schools, 50 events (franchise model)
• 11 regional partner schools
• 3 continents
• 1,200 students
• 15th Annual
• Finals at UNC
www.vcic.org
CONNECT
CONNECT
17
SVCIC and uVCIC
• 5th Undergraduate VCIC• January 28 • Regional Competition, March
24, 20121. UNC
2. Duke
3. Virginia
4. Georgetown
www.svcic.org | www.uvcic.org
• 6th Sustainable VCIC• March 23-24• 8 top MBA programs
1. Columbia
2. Duke
3. Georgetown
4. Michigan Ross
5. NYU Stern
6. Oxford Said
7. UNC Kenan-Flagler
8. UVA Darden
CONNECT
CONNECT
18
Launching the Venture
• High visibility across UNC
• Cross campus workshops
• 32 teams in LTV Feasibility
• 50 coaches (alumni and RTP)
• 50 startups since 1999
www.launch.unc.edu
CONNECT
CONNECT
19
Alternative Investments Conf.
• 5th annual full-day conference, February 29• ~150 attendees/year (paying $200 on average)
• High visibility within specific sector of alumni• ~$30k in profits go towards student fellowships• High caliber,
high impact event
www.uncaic.com
CONNECT
CONNECT
Coffee for Eight Series
Coffee for Eight (C48)
Fall 2011 Series
Spring 2012 Series
Kate Blanchard, Artus Labs (MBA ’08)
Andy Dreyfuss, Piedmont Angel Network
Elaine Bolle, RTP Capital
Tina Prevatte, Farmhand Foods (MBA ‘09)
Lorenzo Mejia, Semitone Corporation
Judith Cone, Chancellor’s Advisor on Innovation and Entrepreneurship
Bob Creeden, Blackstone Entre. Network
Jason Caplain, Southern Capitol Ventures
Pat Garner, Former CEO of Motley Fool
Martin Sinozich, Venn Capital
CONNECT
CONNECT
4 8
4 8
4 8
4 8
4 8
4 8
4 8
4 8
4 8
4 8
21
Social Media
• Twitter activity
• LinkedIn groups, subgroups and events
COMMUNICATIONS
22
Enthusiast
Opportunist
Fanatic
FANATICFANATIC “ “Mr. Now”2-5 students per year
•Dying to be part of a startup•Deep expertise in specific tech sector•Exceptional skill set and confidence•Uncommon risk profile (for MBA)
FANATICFANATIC “ “Mr. Now”2-5 students per year
•Dying to be part of a startup•Deep expertise in specific tech sector•Exceptional skill set and confidence•Uncommon risk profile (for MBA)
ENTHUSIASTENTHUSIAST “MR. “MR. SOMEDAY”SOMEDAY”
20-30 students per year
•A startup someday is the plan•Often hopes to do so right away and is struggling with personal risk profile•Fallback often considered a failure
ENTHUSIASTENTHUSIAST “MR. “MR. SOMEDAY”SOMEDAY”
20-30 students per year
•A startup someday is the plan•Often hopes to do so right away and is struggling with personal risk profile•Fallback often considered a failure
OPPORTUNIST OPPORTUNIST “MR. “MR. MAYBE”MAYBE”
40-60 students per year
•No specific goal of startup•Considers entrepreneurship a professional development tool•Wants to be prepared when/if oppty knocks
OPPORTUNIST OPPORTUNIST “MR. “MR. MAYBE”MAYBE”
40-60 students per year
•No specific goal of startup•Considers entrepreneurship a professional development tool•Wants to be prepared when/if oppty knocks
Share short-term goals:•Pay debt•Develop expertise•Grow network •Gain confidence
Share short-term goals:•Pay debt•Develop expertise•Grow network •Gain confidence
Behavior Profiles of Entrepreneurial Students
23
Lifestyle
Specialty
Tech
TECHTECHFast Growth Startups
•Software-as-a-service, apps, gaming, biotech, pharma, hardware, media…•Potential for VC funding
TECHTECHFast Growth Startups
•Software-as-a-service, apps, gaming, biotech, pharma, hardware, media…•Potential for VC funding
LIFESTYLELIFESTYLETraditional Businesses
•Consumer products, services, manufacturing, consulting…•Regular linear growth•Traditional financing
LIFESTYLELIFESTYLETraditional Businesses
•Consumer products, services, manufacturing, consulting…•Regular linear growth•Traditional financing
SPECIALTYSPECIALTYSocial Entrepreneurship / Family Business
•Specialty financing
SPECIALTYSPECIALTYSocial Entrepreneurship / Family Business
•Specialty financing
Students’ Interests
ENTREPRENEURIAL FINANCEENTREPRENEURIAL FINANCE•Across all segments•Venture Capital and Private Equity
ENTREPRENEURIAL FINANCEENTREPRENEURIAL FINANCE•Across all segments•Venture Capital and Private Equity
(Finance)
Entrepreneurship at UNC Kenan-Flagler
February 22, 2012
Patrick VernonClinical Asst. Professor of Entrepreneurship