BURLINGTON, Vt. --The state of Vermont has an extremely strong small-business tradition--running the gamut from specialty food companies to graphic design firms to high-tech start-ups--all providing employment to Vermonters and bolstering the states economy.
Building on that tradition and Champlain Colleges reputation for innovative, hands-on education, Champlain President David F. Finney unveiled a new program on June 15 that will help young entrepreneurs grow their businesses while they attend Champlain.
The College is launching BYOBiz--Champlain Colleges Bring-Your-Own-Business Program--to actively recruit undergraduates who will bring their existing businesses or business plans to college and propel them forward. This approach is based on the premise that most entrepreneurs begin their pattern of business creation at a young age, Finney said. BYOBiz will encourage and support emerging entrepreneurs with educational and real-world business resources. We anticipate that many of these highly motivated students will create businesses that stay in Vermont and create Vermont jobs.
Each fall, a cohort of student entrepreneurs will be accepted to the selective program and each student will be surrounded by a board of advisers, a team that will act as a sounding board for their business plans and challenges. These mentors comprise a coordinated network of Vermont business people, Champlain College faculty and staff, and fellow students in the BYOBiz Program. In just a few years, the College expects to have up to 120 student entrepreneurs in the program each year.
Champlains program will be open to students in all majors and its multifaceted offerings will include: a selection of business-building courses; internship credits for work done to advance their businesses; and access to financial, strategic and marketing experts and established entrepreneurs. The program will include a speaker series, a new entrepreneur club and, ultimately, space where participants can meet to work on their growing businesses.
Periodic business reviews with advisers will ensure that the students business goals are set and advanced. The lessons that area entrepreneurs have learned will be invaluable to the students and a network of faculty will shepherd young entrepreneurs through the early days of their businesses. Additionally, by working alongside other young entrepreneurs, these students will learn together and bolster each others efforts.
This innovative academic and mentoring program positions Champlain at the front of a small group of colleges that foster entrepreneurship by focusing specifically on student entrepreneurs. The two most similar programs are found at the University of Iowa and Babson College in Massachusetts.
Champlain has strong contacts in local business and industry, and were in a unique position to offer and support such a program in Vermont. Finney said.
Our program is all about educating the students--and having them graduate with the skills that are necessary to lead a business, Finney said. The College will nurture their professional preparation with a strong liberal arts core curriculum, which is designed to foster leadership and communication skills.
Dave Winslow, the founder and president of EpikOne in Williston, Vt., is one of the first professionals to sign on as an adviser. As a growth-oriented entrepreneur myself, Im excited to be a mentor and contribute to the success of these students, he said. At EpikOne we participate in Champlain internship programs and have hired several graduates; becoming a mentor is an excellent way to continue the momentum.
The College expects the BYOBiz Program to produce many benefits. The program will ultimately make a major contribution to the economic vitality of the state, Finney said. Vermont is in need of job-creating enterprises; a well-publicized demographic decline of Vermonters under 30 years old may damage the states economy unless the trend is reversed.
On campus, the presence of additional young entrepreneurs will create a more dynamic educational experience for all Champlain students. This type of student is constantly trying to relate classroom lessons to their real-world experiences--a cornerstone of teaching and learning at Champlain, Finney said.
Currently, Champlain enrolls students who own small businesses that range from one-person Web-development operations to companies with several employees engaged in manufacturing and sales. Since becoming president in July 2005, Finney has discovered that these students have special needs--needs that will be addressed through the BYOBiz Program.
One current sophomore who will benefit from Champlains new program is Ben Kaufman from Long Island. He operates a company called Mophie while attending Champlain as a Business major. Mophies iPod accessories won a Best of Show award at the 2006 Macworld Expo in San Francisco. Because of the high demand for his new products, hes partnered with Linckia, a Williston, Vt.-based company, to do his fulfillment work.
Kaufman is constantly moving between the world of business and academics. I can do both with what Champlain College is giving me, he said.
Jason Nikel, a Multimedia & Graphic Design student who owns Third Shift Clothing, designs and markets a line of apparel that is sold in Burlington retail stores and online. Hes also looking forward to joining the BYOBiz Program. The education at Champlain, coupled with the support and direction of faculty, staff and other business people, is positioning me to grow my business as I gain experience.
I dont think I would be as interested in school without my business, said Pete Jewett, a Champlain senior who owns GoTradingPost.com, an eBay consignment business in Burlington, with fellow student Peter Bruhn. I know exactly what the professors are talking about because Im doing it right nowits a hands-on experience.
Interested students and guidance counselors should contact Champlain College Admissions at (800) 570-5858 and www.champlain.edu for more information on the BYOBiz Program. Individuals and businesses interested in mentoring emerging entrepreneurs should send an e-mail to [email protected]
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