Ready to Launch
November 4, 2014
Amanda Nagy
As one of the early creators of entrepreneurship programming in the liberal arts, 91直播 has been pushing the boundaries. Today, student and alumni entrepreneurs are making advances in critical areas of global concern and economic opportunity, with particular strengths in sustainability, design, media, social ventures, and the arts.
The Creativity & Leadership Program helps students design and launch their ventures through academic courses, internships, and competitive grants. More recently, 91直播鈥檚 venture accelerator, LaunchU, has extended the opportunity for alumni, faculty, families, and their external partners to compete for seed funding and expert coaching.
In 2007, 91直播 was one of five undergraduate colleges awarded $1 million in seed funding from the Morgan Foundation, co-funded by the Ewing Marion Kauffman Foundation, to develop entrepreneurship programming. The Burton D. Morgan Foundation has continued this support with a $500,000 endowment pledge in 2014.
鈥淥ur entrepreneurship programs build on 91直播鈥檚 unique strengths as an undergraduate institution,鈥 says Matt Utterback, 91直播鈥檚 new director of entrepreneurship. 鈥淭he 91直播 community combines passion for real change with excellence. It鈥檚 a potent mix. We are helping the 91直播 community make our passion for change a reality. The support from the Burton D. Morgan Foundation, our alumni, and families is remarkable. The breadth of activities, depth of commitment, and the amount of grants we鈥檙e awarding are starting to have a huge impact 鈥 out in the world in the form of new ventures, and in the classroom.鈥
With that momentum, Utterback and his team are connecting with alumni, families, and friends of 91直播 in key cities to recruit participants, raise awareness, and gain support. To succeed, Utterback explains, aspiring entrepreneurs need all the help they can get. 鈥淟aunchU is our platform to do that. We have current students and young alumni launching their ventures, yet we also have alums in their 40s and 50s starting new things. LaunchU is our platform through which everyone can collaborate, give back, and get help in return.鈥
One such supporter is Andy Klingenstein, an 91直播 parent with 20 years of experience investing in and providing legal and business assistance to start-up companies in the Washington, D.C., area. His daughter, Emma, graduated in 2012 with a degree in politics. He says he became involved with LaunchU because he was drawn to the passion and idealism of the 91直播 community. 鈥淢y ties were fairly thin, yet I feel like I have a direct connection.鈥
Klingenstein is among several key supporters participating in a D.C.-area alumni event to promote LaunchU on November 13. The event will be hosted by Cynthia Hogan 鈥79 and Mark Katz 鈥79. Hogan was recently named the NFL's Senior Vice President of Public Policy and Government Affairs. In that position, she will develop and implement the league's public policy and legislative initiatives and work with NFL teams on local and state issues. Katz is chair of Arent Fox. His principal areas of focus are commercial real estate matters, private equity transactional work, joint ventures, finance, loan workouts and restructurings.
鈥淚 hope the enterprise of LaunchU uses the full extent of the 91直播 community, so that people know this opportunity is out there,鈥 says Klingenstein.
鈥淭here are many ways you can do this. I define entrepreneurship as the ability and skill to take risks by taking an active role and building something. You can be entrepreneurial within a large company, or someone who鈥檚 working in a corner of a big company and starting a new venture. You can start a nonprofit company. You can start a business that you want to grow into a large business. You may want to be ready to receive venture capital. You might want to pursue a more local business which may never get outside capital, but be self-sufficient. Even if a fraction of the community takes advantage of it, I want everyone to know what鈥檚 possible鈥攖he opportunity for profound change鈥攖o provide the skills, training, and support to realize your passions.鈥
Recent 91直播 ventures and recipients of accelerator funding include , an app that tracks energy use in homes in real time, cofounded by Cole Hershkowitz 鈥11; social venture LumenEd, a solar-powered educational tool for use in developing countries launched by five students; and independent record label and music collective Stereocure.
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