UMSI Entrepreneurship

Program Overview2/2015

Nancy A. Benovich GilbyEhrenberg Director of EntrepreneurshipClinical Associate ProfessorUniversity of Michigan School of Information650-539-8376nabgilby@umich.edu

Agenda

Information Science

Program BHAG Big Hairy Audacious Goal

Program Vision

Program 2014-15 Goals

Importance of Get Out of the Building: Events

Entrepreneurial Pathway & Digital Badging

Information Science

UMSI Entrepreneurial Program BHAG
(Big Hairy Audacious Goal)

Inspire and support every student to participate in at least one passion-led, self-driven innovation project during their tenure at UMSI

WHY this goal? Experiential learning GEIP a CID Social Engagement - plus starting with Rogers desire to have support for students trying, stretching beyond their comfort zone and failing

UMSI Entrepreneurship

VenturesCoursesProjectsEvents

Grad students

Faculty

AlumsCustomers,Ecosystem

FeedbackFeedbackUndergrad studentsDifferent arrows pyramid, 3D isometric

Thankful to Roger and Carin Ehrenberg.

University-wide entre goals1 Worlds Best Entrepreneurial Curriculum2. Nation's Most Entrepreneurial University3 State's Catalytic Entrepreneurship Partner

Over 20% of our students in the last year are pursuing entrepreneurial endeavors through co-curricular activities, internships and jobs, and over 2200 UM students enrolled in one or more of the 29 courses in the Program in Entrepreneurship in the 2011-2012 academic year. 2012-2013 grew to 2800 and 40 courses.

BHAG Big, Harry, Audacious Goal is to have that 100% UMSI not because they are required but inspired

Talk about opportunities for involvement
Mentorship!
Direct feedback, from experience, what do new grads need to be skilled in from your experience? What do you feel we need in the program?Contacts you may have in the general entrepreneurship/innovation community- attend receptions, after treks, workshops etc networking is learned and in-need-of-practice with or students
- provide support scholarship and program support

Recent examples include:-Field Entrepreneurship and Innovation Scholarship Fund - need-based assistance for students to attend entrepreneurial events and support initiatives and activities that enhance students educational experiences

- The Weiser iEntrepreneur Award to recognize students entrepreneurial pursuits-Ehrenberg gift

Judy and Than Field have a traditional scholarship established at the school, but this year they created the Field Entrepreneurship and Innovation Scholarship Fund. This fund will provide need-based assistance for students to attend entrepreneurial events and support initiatives and activities that enhance students educational experiences. This[P1] scholarship will allow UMSI students who otherwise couldnt afford it to participate in such initiatives as Start-up Treks, the South by Southwest mix-pitch competition, MPowered pitches and other entrepreneurial activities.
Marc Weiser, founder and managing director of RPM Ventures in Ann Arbor and two-time graduate of the University of Michigan with a Bachelor of Science in Engineering and an MBA, made a gift to the school to provide funding for The Weiser iEntrepreneur Award to recognize students entrepreneurial pursuits.

Progress to 12 Month Plan

Connecting, blocking and tackling, planting sowing initial seeds

Q1Q2Q4Q3NY
TrekSXSW
ShowcaseEECS 441
FIN 629
UMSI 663

EECS 441
UMSI 363UX Design Clinic

Data Dive Clinic

Social Media Clinic

MajorEventsCoursesSpecialtiesClinic

Legend:On TargetBehind TargetWay Behind TargetNew Item to Plan

Make Health FestSept 14SpecialProjectHealthDesignBy.us
NightScout/ T1D/GameStart

Entrepreneurial Pathway

IdeationValue CreationPre-Seed Entity FormationIdeation ShowcaseProductShowcaseB-PlanCompetition

Entrepreneurial Pathway

IdeationValue CreationPre-Seed Entity FormationIdeation ShowcaseProductShowcaseB-PlanCompetition

NY Trek!SXSW
IdeationSXSW
B-Plan

IDEATION: Customer Development

Customer SearchCustomer Validation1-23-5

ProblemsSolutionsWeek

Value for Who?

2014 NY Trek: 5 Session Overview

Idea Speed Dating, Problem Hypothesis, Target Customer

Review Customer Development Round 1 and Potentially Pivot

Review Customer Development Round 2, Pivot, Wireframe

Review Customer Development Round 3 Draft pitch

All teams FINAL pitch review

TRIP You present your value hypothesis/idea and are critiqued on your customer development by experienced entrepreneurs at :

TechStars, Tumblr, Next Big Sound/Warner Music, New York Public Library, Startup Health, JSTOR

Badges for NY Trek

Ideation: Customer Development

Develop beginner competency in the initial phases of customer development, using the KJ method of contextual inquiry.

Ideation: Innovation Storytelling Pitch

Understand the components that go into a functional pitch that includes your identified problem, value proposition, and customer niche and how contextual inquiry allowed you to pivot.

Participation: New York Trek Innovator 2014

General badging update and what are we going to award the NY Trek badges? Need people to upload stuff!

Ideation: Customer Development

Evidence Upload three-four quotes (voice or written) total from at least two phases of the customer development process.

Upload a photo of project team sketch or model.

Upload a short personal reflection on the pivot process: 2 paragraphs

What were your personal challenges and how did you overcome them?

How might you use this method in other settings?

Ideation: Innovation Storytelling Pitch

Evidence

Upload your pitch (slides or narrative)If in a team, identify which parts you contributed to most, intellectually.

Short personal reflection on the pitch process: 2 paragraphsIf you or your team pivoted, how did you incorporate this experience into your pitch?

What did you struggle with the most?

What was the most exciting part of the process?

How might you use this method in other settings?

Orientation Photos

Student Prep Session Pictures

Appendix

NY Trek Stats

Total Participants: 43

55.8% 1st year MSI

16.3% Mentors

9.3% 2nd year MSI

9.3% Post-Doc cohort