Learning by Doing: Perspectives on Experiential Learning in the Entrepreneurship Classroom

Learning by Doing: Perspectives on Experiential Learning in the Entrepreneurship Classroom

Steven Tello, Ed.D., Assoc. Professor

Holly Butler, MS ITE

Erin Webster, BS, CEE

David Harrington, BS, CEE

Steven Tello, Ed.D., Assoc. Professor

Holly Butler, MS ITE

Erin Webster, BS, CEE

David Harrington, BS, CEE

Teaching Entrepreneurship

“The entrepreneurial mystique? It’s not magic, it’s not mysterious, and it has nothing to do with the genes. It’s a discipline. And, like any discipline, it can be learned” - Peter Drucker, 1985

Teaching Entrepreneurship

• Management education typically focuses on the best, or most effective way to operate within existing organizations.

• Entrepreneurship education is distinctive in its focus on realization of opportunity and the creation of new organizations.

• Our goal is to teach students how to recognize and develop opportunities.

Experiential Education

• “The process whereby knowledge is created through the transformation of experience. Knowledge results from the combination of grasping and transforming experience”

• - Kolb, 1984

• Experiential Learning serves as an excellent vehicle for transferring entrepreneurial skills

Approaches to Experiential Education in Entrepreneurship

• Business plans–(Hills, 1988; Vesper and McMullan, 1988; Preshing, 1991; Gartner and Vesper, 1994; Gormal et al., 1997)

• Student business start-ups –(Hills, 1988; Truell et al.)

• Consultation with entrepreneurs (Mentor Model)–(Solomon et al., 1994; Klatt, 1988)

• Computer simulations –(Brawer, 1997)

• Real time cases–(Thoreaux, 2005)

Manning School of BusinessUMass Lowell

• AACSB Accredited Business Program• Undergraduate Entrepreneurship Conc.• MS in Innovation & Technological

Entrepreneurship• Leverage the Business, Engineering and

Science strengths of UMass Lowell• But how?

New Curriculum• MS in Innovation & Tech Entrepreneurship

New Partners

• Merrimack Valley Sandbox– Deshpande Foundation Grant– Focus on Merrimack Valley

Entrepreneurship Ecosystem– Campus/Community Catalyst

• International Experiences– Bilkent University, Technology

Entrepreneurship– Dublin City University, NUI Galway, Queens

• Campus Medical Device Incubator• Supports Medical Device Start-ups• Engineering Prototype Support, Clinical Trial Support & Business Development • Learning opportunities for

Business, Engineering, Life Science & Health Care Students

Work Together on Projects

Learning Opportunities for Students

• Business Assessment of Med Device Start-ups– 3-6 page summary of Business Opportunity– Integrated into UG/G coursework– Review by M2D2 Executive Board, 15 to date– Factors into Inventor-Funding Decisions

• Venture Project – Explores application of University IP to solve problems with

commercial potential– Mixes Business, Science & Engineering Students– Integrated into UG/GRAD coursework– 10 page Venture Prospectus, Rocket Pitch & Venture Poster

Learning Opportunities for Students

• ECE Assistive Technology CapstoneEngineering students work with Person w/a disability to increase independence

• Internship Opportunities in Startups

–MA Life Science Internship Challenge–Alumni sponsorship

Graduate Perspective

• Holly Butler– MS in Innovation & Technological Entre.

– MLSC Intern Challenge 5G Medical Device Startup

– M2D2 Research Assistant– In class projects with real companies

Graduate Perspective

• Why do you participate in these “Real World” Projects?

• What are the benefits?

• What are the challenges?

Undergraduate Perspective

• David Harrington, Erin Webster– Computer & Electrical

Engineering juniors– Inventors, World Travelers

– Assistive Technology Capstone– Assistive Technology Center

Undergraduate Perspective

• Why do you participate in these “Real World” Projects?

• What is the benefit?

• What are the challenges?

Whiteboard Benefits

“You see how school concepts apply in the workplace”“You don’t know what you really need to do, until you do it”“I learn & retain more”“The book only teaches so much”“I increased my level of comfort with technical tools by using them in a start-up”“Isn’t this common sense”?

Benefits

• Immediate application of classroom knowledge to the work world

• The development of competencies and experience related to career goals and major

• The exploration of career goals with professionals in the field

• Build resume with practical employment experience • Take responsibility for your own learning, create a more

rewarding college experience (MLSC Internship)• Establish a network of professional contacts, mentors

and references for after graduation

Whiteboard Challenges

“Takes student time, lots of time!”“Takes my time as well (faculty time)”

– to arrange real world projects– to integrate into course work

“Projects don’t always sync with course schedules”“Courses (and Professors) must be updated w/the latest technology”“The technology part can challenge Business Students”“How do you assess our work?”

Challenges• Student Skills Required

– Research: finding credible market and product data– Analytical: ability to determine usefulness of data– Conceptual: assess business opportunity based on data

• Selecting Appropriate Projects– Real World Projects may not match curriculum

• Skills vs. Expectations– Quality of student work varies, while the business professionals expect

first quality work• Teams & Virtual Teams

– While important for business students to learn, a challenge to manage (for students & instructor)

Future Directions – Culture of Entrepreneurship

• Entrepreneurship Minor– Mix Science, Engineering & Business Students– Entrepreneurship GenEd course

• Deshpande Forum on Innovation & Entrepreneurship (April 26, 27)• 15 national leaders in campus innovation• Expose campus to opportunities

Thank You

• Steven Tello, Ed. D.Associate ProfessorManagement & EntrepreneurshipCollege of Management, UMass Lowell

Associate DirectorM2D2, UMass Lowell

Steven_Tello@uml.edu

Student Perspectives

• “ The collaborative efforts between this class and M2D2 have allowed me, as a student, the opportunity to step beyond theory and case study and experience a real-world situation unlike anything taught in my prior classes.” MBA Student.

Student Perspectives

•“The project with M3 Medical …gave me the opportunity to work on corporate assessment and strategy in a manner which I have not previously been engaged, this was a professionally rewarding project. “ MBA Student

Student Perspectives

• "As team leader of a geographically distributed M2D2 project team, I have gained the confidence that is necessary to manage a distributed team in the business world.” ENT Undergraduate