COLLEGE OF BUSINESS MBAs
The University of Colorado's Center for Entrepreneurship, the largest university entrepreneurial internship program of its kind in the country, has placed scores of student interns with Denver-Boulder area businesses and beyond in 1998.
Strong relationships with new emerging growth companies, combined with dynamic business students have made this program a success, said Denis Nock, director the CU-Boulder center headquartered in the College of Business and Administration.
Fifty-nine students were placed by the Center for Entrepreneurship at an average salary of $16.59 an hour. Students receive a salary from the host company and also receive a stipend from the CU center, thanks to grants from the Price Institute of Entrepreneurial Studies, the Ewing Marion Kauffman Foundation聮s Center for Entrepreneurial Leadership Inc. and other donors.
Most students are interning in the Denver-Boulder area, but the program also has placed students in Portland, Chicago, Princeton, N.J., and Tokyo.
Students take part in one of four internship programs:
o The MBA Summer Entrepreneurship Internship program pairs graduate students with an emerging company. "These interns bring considerable expertise to the job 聳 maybe in finance or marketing," said Nock. "In many cases, they can help the growing company while learning what it takes to run a business."
Taking life-long learning and the university's Total Learning Environment to heart, these students are working for organizations such as Wild Oats, Coral Systems, Genomica, Integer Group and CDM Optics.
o Five MBA students make up the MBA Entrepreneurial Solutions Group, a limited liability company which does consulting for such companies as Norwest Bank, Particle Measuring Systems, Access Health, Liquor Mart and Requisite Technology.
Students work out of offices provided by the Boulder Technology Incubator and manage every aspect of their business, from strategic planning to marketing to finance.
The idea for the group grew out of necessity, Nock said. "I would talk to people from different companies and they didn't really need an intern. They needed a team of students to work a project," he said.
Nock plans to make the Solutions Group a permanent part of the Center. "Each year we'll take on new students and new clients," Nock said.
o Six entrepreneurial MBAs and one undergraduate student are interning with non-profit organizations through a joint program with the Center and Boulder's Community Foundation. Josie Heath, president of the foundation, said the program is designed to lend professional business skills to non-profits while exposing students to the role these organizations play in the community.
CU-Boulder's Center for Entrepreneurship is among five other programs across the country to receive funding from the Kauffman Foundation to host a social entrepreneur program.
During the inaugural year of this program, local interns are working with the Family Learning Center, Community Food Share, Friends School, Longmont
Children's Council, Attention Inc., and the St. Vrain Historical District. Students develop cash flow and marketing plans and do feasibility studies for the organizations.
Real Estate MBA Dave Decker, for example, is helping the St. Vrain Historical Society turn its Historic Hover Home into a place for community events and receptions.
o Five undergraduates who are majoring in computer science round out the program. Each student is interning with companies that develop software-related projects.
"The opportunities for students this summer are fantastic," said Ann Stringfellow, director of career development and employer relations at the College of Business and Administration. "They run the gamut from non-profit organizations to dynamic growth companies."
Projects include financial analyses and feasibility studies, developing marketing plans and researching business development concepts. "Our students were able to choose among excellent companies," Stringfellow said.
Examples of entrepreneurial internships:
Greg McClure, who is working toward a joint MBA/juris doctor, is helping Outlast Technologies with its contracts, patents and trademarks. Outlast recently created a new insulation that is expected to be used in new skiwear products this winter.
Karen MacQueen is developing feasibility plans for Audio Adventures, a company that rents audio books. Presently, Audio Adventures leases tapes out of truck stops and libraries. MacQueen is researching how the company also can use airports.
Robert Cassidy is evaluating and drawing up business plans for StorageTek's Solutions Business Group. He's looking at venture capital opportunities within the company.
Frank Saab is working with StorageTek and Exabyte founder Juan Rodriguez with Rodriguez's latest entrepreneurial venture called Ecrix Corp. "It's a tape storage company with a product launch in two months," Saab said. "It's interesting, too. It's been a great learning experience so far." Saab is developing the company's Web presence from scratch. Eventually it will support end users and have an electronic commerce component.
Jacquie Box is traveling with executives from Wild Oats Markets presenting core values to investors outside of Colorado. Last month she traveled to California's Napa Valley and New York, and is leaving soon for Vancouver to continue her work.