Uncertain economic times and a rapidly changing unemployment landscape seem to have changed everything for a significant percentage of recent (and future) university graduates. Graduating students, now, more than ever, are facing greater professional challenges right out of school. Landing a ready-made career position soon after receiving one\u2019s degree(s) is still possible for universities like ESU are at the forefront of recognizing that students deserve \u2013 and are now beginning to expect \u2013 a college or university and education that teaches them to be innovative, creative, and even entrepreneurial.<\/p>\n
STARTING A BUSINESS<\/strong> has never been more popular. The employment landscape is dotted with companies that have shed workers to preserve bottom-line revenue. Large or small, the private and public sectors alike no longer hold the promise of job security that they once did. What\u2019s more, the online economy is making it easier than ever for enterprising entrepreneurial individuals to launch \u2014 and prosper \u2014 in a challenging economy.<\/p>\n Colleges are proving to be particularly fertile ground for entrepreneurs. A 2007 Princeton Review study found that the 17,743 students enrolled in the top 25 undergraduate entrepreneurship programs together launched nearly 4,500 businesses. The urge isn\u2019t limited to business students, either. According to the Kauffman Foundation for Entrepreneurship, government statistics claim that 70 percent of those now enrolled in college will start at least one business during their careers.<\/p>\n East Stroudsburg University is in the business of growing its own entrepreneurs. With an award-winning Business Accelerator Program, new Research and Economic Development Division, Entrepreneurial Leadership Center and College of Business and Management, students now have the academic foundation and real-time experiences to create businesses. Put another way, ESU is creating new ways to help those who realize it\u2019s no longer just about finding jobs, and that the best career path may be to start companies that create the jobs.<\/p>\n The new Entrepreneurial Leadership Center at ESU is indicative of this new approach. The program, funded through a $191,320 economic development grant from the Pennsylvania State System of Higher Education (PASSHE) will create and sustain an entrepreneurial culture across the campus, community and region, and provide nascent enterprises with start-up services including business plan support, networking opportunities, and much more. The ELC will give those with entrepreneurial aspirations the tools, resources, and leadership needed to realize those goals.<\/p>\n The ELC is one of a handful of departments organized under the Research and Economic Development (RED) division, now entering its second year.<\/p>\n Under the direction of Mary Frances Postupack M\u201993, vice president of economic development and research support, RED has created a unique niche, bolstering ESU\u2019s academic mission through research support, entrepreneurship, and workforce development initiatives.<\/p>\n The Research and Economic Development division includes the Office of Sponsored Projects and Research, Workforce Development, Business Accelerator and the management of the Center for Research and Economic Development (CFRED), a 501(c)3 not-for-profit corporation\/affiliate organization of ESU. CFRED manages the development and operation of the new Center for Innovation and Entrepreneurship in the ESU Research and Business Park under construction on Route 447 in Smithfield Township. See Page 9.<\/p>\n \u201cThe creation of the RED division reflects the growing role that higher education is playing in economic development across our global economy,\u201d said Postupack. The Research and Economic Development division was founded under the leadership of Robert J. Dillman, president of ESU, Postupack added, \u201cDr. Dillman\u2019s vision and determination have positioned ESU as a key academic player in regional entrepreneurship and economic development.\u201d<\/p>\n ENTREPRENEURIAL BOOT CAMP<\/strong> On the third day of the boot camp, Morrison challenges his teenage audience to answer some tough questions.\u201cWhat\u2019s your calling?\u201d he asks the rapt students. \u201cWhat do you do effortlessly?\u201d The question is one that many people \u2014 young and old \u2014 wrestle with their whole lives, but Morrison, with his relentless enthusiasm, has the students calling out answers.<\/p>\n \u201cListening to people!\u201d \u201cPlaying video games!\u201d come the replies. \u201cDancing!\u201d Morrison tells the group that those passions are where the best businesses start.\u201cSolidify those ideas,\u201d he says. \u201cFigure out what need that skill would address. Then think of an organization\u2014with money\u2014that might partner with you to make it happen.\u201d<\/p>\n For a few moments that afternoon in the Keystone Room, 58 earnest young minds were focused intently on the discussion at hand. More than a few future businesses may have taken root at that very moment.<\/p>\n The event attracted students from 13 northeastern Pennsylvania school districts together with ESU faculty, staff, and administrators. It was the brainchild of Sharone Glasco, coordinator of the university\u2019s new Entrepreneurial Leadership Center (ELC).<\/p>\n \u201cI intended this to be a program that would influence the campus and region,\u201d says Glasco, herself a successful entrepreneur. \u201cI liked the boot camp idea, but I wanted the most malleable audience possible; university and high school students were the logical choice.\u201d<\/p>\n A number of federal and state agencies agreed with her, and the Boot Camp was supported by funding from the U.S. Department of Labor-WIRED-Wall Street West grant, and the Pennsylvania State System of Higher Education.<\/p>\n The Boot Camp was just one facet of ESU\u2019s focused effort to assist students, alumni, and local business people in what is emerging as the toughest economy in decades. The effort includes traditional approaches such as career counseling, and interns\/graduate assistants as well as innovative approaches to create a culture fostering entrepreneurship across the curriculum.<\/p>\n DREAMS DO COME TRUE<\/strong> \u201cThere were many, many times I wished that ESU had business advice to offer me. When I first started, the closest support was the University of Scranton, Marywood, or Temple,\u201d Koster continues. \u201cI always wished that ESU had something for business owners. I had to learn everything by trial and error. I kept adding contracts for new services and learning as I went. I could have used ESU, let me tell you.\u201d<\/p>\n Koster\u2019s leadership proved to be effective; under her guidance Fitzmaurice Community Services grew from a handful of employees to 160, and it now provides services in Carbon, Monroe, Pike, Northampton, and Lehigh counties.<\/p>\n \u201cHaving entrepreneurial programs and business support in our backyard at ESU will be a great boon to all startup businesses.\u201d<\/p>\n BUSINESS ACCELERATOR \u2013 fast forward \u2026<\/strong> For more ethan six years, Business Accelerator companies have enjoyed office space, administrative assistance, IT and telecom support, training, professional business services, and access to university resources and networks including student and faculty expertise.<\/p>\n Right Reason Technologies, LLC:<\/strong> \u201cWe were a little new, even for the accelerator, and we weren\u2019t ESU graduates, but we decided to be bold,\u201d says Tom Schmitt, co-founder of the online learning solutions company.<\/p>\n \u201cWe put together a business plan and sent a copy to President Dillman. He invited us to meet with his team. It was their job to make sure we were a fit for the university.\u201d Schmitt says that ESU has been supportive on many levels \u2014 most notably as a source of interns.<\/p>\n \u201cOur goal is to help build the individual, said Schmitt. \u201cThat way students get an important educational experience and we get great employees. We have at least three full-time employees who started with us as interns and they\u2019re not just getting coffee \u2014 they\u2019re doing jobs that help us and enhance their learning experience.\u201d<\/p>\n The benefits also have long-term implications. \u201cESU has been part of what\u2019s made us great, and we\u2019ve helped to educate a few students,\u201d Schmitt adds. \u201cI made a bunch of mistakes along the way, and I hope I can help others avoid a few of those.\u201d<\/p>\n Chaperone Technologies, Inc.:<\/strong> For early-stage biotech developer Chaperone Technologies, Inc., the accelerator provides peace of mind.<\/p>\n \u201cBeing in the accelerator enables us to take our minds off of needing the appropriate space,\u201d says CEO and President Ken Kovan. \u201cNow we can focus on what we do best, which is developing new drugs.\u201d<\/p>\n Kovan also believes that Chaperone\u2019s involvement with the university presents a broad range of networking and funding opportunities. \u201cThey connect us with business development opportunities,\u201d he says. \u201cThey\u2019ve really been instrumental in helping us.\u201d Uncertain economic times and a rapidly changing unemployment landscape seem to have changed everything for a significant percentage of recent (and future) university graduates. Graduating students, now, more than ever, are facing greater professional challenges right out of school. Landing…<\/p>\n","protected":false},"author":1,"featured_media":1356,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":"","_links_to":"","_links_to_target":""},"categories":[8],"tags":[],"class_list":["post-1355","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-management"],"acf":[],"_links":{"self":[{"href":"https:\/\/quantum.esu.edu\/insider\/wp-json\/wp\/v2\/posts\/1355"}],"collection":[{"href":"https:\/\/quantum.esu.edu\/insider\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/quantum.esu.edu\/insider\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/quantum.esu.edu\/insider\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/quantum.esu.edu\/insider\/wp-json\/wp\/v2\/comments?post=1355"}],"version-history":[{"count":0,"href":"https:\/\/quantum.esu.edu\/insider\/wp-json\/wp\/v2\/posts\/1355\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/quantum.esu.edu\/insider\/wp-json\/wp\/v2\/media\/1356"}],"wp:attachment":[{"href":"https:\/\/quantum.esu.edu\/insider\/wp-json\/wp\/v2\/media?parent=1355"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/quantum.esu.edu\/insider\/wp-json\/wp\/v2\/categories?post=1355"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/quantum.esu.edu\/insider\/wp-json\/wp\/v2\/tags?post=1355"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\nOver three days in July, 58 entrepreneurial hopefuls attended the first East Stroudsburg University Entrepreneurial Boot Camp featuring nationally known entrepreneur Andrew Morrison and Wharton School of Business lecturer Rob Weber. The eclectic group of area high school and college students participated in brainstorming sessions and discussions focusing on intellectual property and idea creation.<\/p>\n
\n\u201cIt wasn\u2019t always so easy to pursue entrepreneurial dreams,\u201d says Elizabeth Koster \u201968, president and CEO of Fitzmaurice Community Services, a nonprofit organization providing community support for individuals with developmental disabilities or mental illness. Koster\u2019s mother launched the organization in 1966 and passed the torch to her daughter in 1978 when she became ill.<\/p>\n
\nThe margin between success and failure can be a thin one for any venture. Through RED, ESU has proven that its Business Accelerator Program is an effective way to provide the competitive advantage that start-up companies\u2019 need, and those services are not limited to ESU students and alumni.<\/p>\n
\n<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"