For growing numbers of students, college is not just time of learning, partying and growing into...

  

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For growing numbers of students, college is not just time of learning, partying and growing into young adulthood; it is fast becoming a place for building a business. More than 3,000 colleges and universities offer courses in entrepreneurship and small business management to more than 200,000 students and many of them have trouble keeping up with demand for these classes. "Students used to come to college and assume that five to ten years down the road, they'd start a business," says Gerry Hills, co founder of the Collegiate Entrepreneurs Organisation (CEO). Today they come in preparing to get ideas and launch. Many of these collegiate entrepreneurs' ideas come from their college experience itself. Russell D'Souza and Jon Groetzinger, students at Dartmouth College, watched fellow students discard perfectly good dorm furniture at the end of each academic year rather than move it or pay to store it over the summer. "We realised there's a great market for a furniture rental company that provides everything students need for their dorms," says D'Souza. The two student entrepreneurs used their personal savings to launch their company, Evolving Vox, and to purchase modern dorm room essential such as flat screen television, DVD players, compact refrigerators, lamps, telephones, chairs and futons. Students place orders through the Evolving Vox Web site and receive free delivery. D'Souza and Groetzinger were overwhelmed by the initial response to their business; Dartmouth students flocked to their Web site, and sales quickly exceeded $250,000. They have expanded Evolving Vox to Brandies University and Cornell University and have plans to open offices on 10 other campuses soon. Answer all the questions. 1. In addition to the normal obstacles of starting a business explain the other barriers that the collegiate entrepreneurs face. (10 marks) 2. Describe the advantages that the collegiate entrepreneurs have when launching a business? (10 marks) 3. Discuss what would be your advice to a fellow student who is about to start a business. (15 marks) 4. In your opinion how can a college or university create a culture of entrepreneurship to the campus and community? Explain. (20 marks) For growing numbers of students, college is not just time of learning, partying and growing into young adulthood; it is fast becoming a place for building a business. More than 3,000 colleges and universities offer courses in entrepreneurship and small business management to more than 200,000 students and many of them have trouble keeping up with demand for these classes. "Students used to come to college and assume that five to ten years down the road, they'd start a business," says Gerry Hills, co founder of the Collegiate Entrepreneurs Organisation (CEO). Today they come in preparing to get ideas and launch. Many of these collegiate entrepreneurs' ideas come from their college experience itself. Russell D'Souza and Jon Groetzinger, students at Dartmouth College, watched fellow students discard perfectly good dorm furniture at the end of each academic year rather than move it or pay to store it over the summer. "We realised there's a great market for a furniture rental company that provides everything students need for their dorms," says D'Souza. The two student entrepreneurs used their personal savings to launch their company, Evolving Vox, and to purchase modern dorm room essential such as flat screen television, DVD players, compact refrigerators, lamps, telephones, chairs and futons. Students place orders through the Evolving Vox Web site and receive free delivery. D'Souza and Groetzinger were overwhelmed by the initial response to their business; Dartmouth students flocked to their Web site, and sales quickly exceeded $250,000. They have expanded Evolving Vox to Brandies University and Cornell University and have plans to open offices on 10 other campuses soon. Answer all the questions. 1. In addition to the normal obstacles of starting a business explain the other barriers that the collegiate entrepreneurs face. (10 marks) 2. Describe the advantages that the collegiate entrepreneurs have when launching a business? (10 marks) 3. Discuss what would be your advice to a fellow student who is about to start a business. (15 marks) 4. In your opinion how can a college or university create a culture of entrepreneurship to the campus and community? Explain. (20 marks)

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College Entrepreneurship Challenges and Opportunities 1 Barriers Faced by Collegiate Entrepreneurs 10 marks In addition to the usual challenges of starting a business collegiate entrepreneurs face spe... View the full answer