Earning curve; entrepreneurship programs at universities nationwide have capital-hungry business owners heading back to school

Entrepreneur, Dec, 1998 by David R. Evanson, Art Beroff

Even schools with fledgling entrepreneurship programs are worth checking out. For instance, Bob Tosterud, chair of the Council of Entrepreneurship Chairs, a group of business schools with endowed entrepreneurship chairs, says entrepreneurship is a hot topic in universities these days. "People who are hired by schools to cultivate entrepreneurship chairs are often highly qualified and have lots of contacts in business and academia," says Tosterud. "I recommend calling any university nearby, and if they have even a rudimentary entrepreneurship program, schedule an appointment to talk to the person running it."

Marvin also advises that if you want to approach a university for funding, keep in mind that they offer many ports of entry. "Go in as many doors as possible," he says, "but don't stay anywhere too long if it doesn't look productive."

For instance, a school like RPI that has a hyperactive entrepreneurship program might have affiliate programs in which companies off campus can get involved; they may also have SBA-sponsored Small Business Development Centers, alumni outreach programs, campus networking events, business incubators, manufacturing assistance centers or entrepreneurial resource centers that can be beneficial. In addition, try approaching professors, deans, executive directors and even students. With ILINC and MapInfo, for instance, Marvin says the companies got their strongest support and best contacts from alumni.

When going the university route, keep the many people you meet along the way apprised of your progress. Remember, schools are political. They need to be able to share credit for your success, which strengthens the entrepreneurial fabric for those who will follow you.

NEXT STEP

* You can find a list of top entrepreneurship programs and gain some framework for evaluating them by reading "Measuring Progress in Entrepreneurship Education" in the Journal of Business Venturing, published by Elsevier Science. Call (800) 282-2720 for a reprint of this article, which appeared in Issue 12 of the publication, pages 403-421. The cost is approximately $45.

David R. Evanson's newest book about raising capital is called Where to Go When the Bank Says No: Alternatives for Financing Your Business (Bloomberg Press). Call (800) 233-4830 to order. Art Beroff, a principal of Beroff Associates in Howard Beach, New York, helps companies raise capital and go public.