BURLINGTON, Vt. -- Champlain College's BYOBiz (Bring Your Own Business) Program has received a $90,000 grant from The Coleman Foundation, Inc. in Chicago to further enhance its entrepreneurial education programming.
The grant will help to enhance Champlain's entrepreneurship curriculum, formalize the integration of student business development into courses, augment the entrepreneurial collection in the library, and provide seed funding for the creation of a dedicated BYOBiz facility called the Champlain Business Hatchery.
As a dedicated BYOBiz facility, the Champlain Business Hatchery will provide working office space for up to 22 students starting in the 2008-2009 academic year. Through an application process, students will be awarded space for a set term. In return, students will be expected to meet pre-negotiated deliverables to advance their businesses. The Hatchery will become the epicenter of entrepreneurship on the Champlain campus.
The grant will also help enhance entrepreneurship curriculum with the formal integration of student business development into courses. New courses will be added and two existing courses will be enhanced to better suit entrepreneurial students. Additionally, BYOBiz faculty will look across the majors at Champlain to identify courses that can be "BYOBiz Enabled." That is, in these courses students will address issues associated with their developing business as the basis for project work. For example, BYOBiz students in the Financial & Economic Modeling course might develop product pricing models for their business or students might use an internship course to develop their marketing plan to earn course credits.
The Coleman Foundation, Inc. is a private, independent grantmaking foundation established in Illinois in 1951. The Foundation funds "unique education institutions with a strong emphasis on entrepreneurship education and awareness," according to its Web site. The Foundation has asked Champlain to use the grant as an opportunity to challenge supporters of the College and entrepreneurship education in Vermont to contribute funds to make BYOBiz a sustainable initiative.
"We're thrilled that the Coleman Foundation is backing our vision to redefine entrepreneurial education," said Champlain College President David F. Finney. Champlain's BYOBiz Program is a groundbreaking program for student entrepreneurs to bring the business theyve started -- or the business they're thinking about starting -- to college with them. "BYOBiz encourages and supports emerging entrepreneurs with educational and real-world business resources," Finney said. "We anticipate that many of these highly motivated students will create businesses that stay in Vermont and create Vermont jobs."
The BYOBiz Program was unveiled in 2006 and has earned national recognition in Entrepreneur magazine, USA Today, and the Marketplace business report heard on public radio stations across the country.
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