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Dingman Center for Entrepreneurship Smith School of Business University of Maryland

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Dingman Center for Entrepreneurship. Smith School of Business. University of Maryland ... Outback Steakhouse. Money Ball. Out at Night Baltimore Shop DC. Karaoke Bars ... – PowerPoint PPT presentation

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Title: Dingman Center for Entrepreneurship Smith School of Business University of Maryland


1
Dingman Center for EntrepreneurshipSmith School
of Business University of Maryland
2
Agenda
  • Dingman Center Overview
  • Dingman Center Organization List
  • Dingman Center Process
  • Services
  • Incubate businesses
  • Support entrepreneurs and investors
  • Questions

3
What we do (thanks Hugh)
  • Entrepreneurs
  • Internal/External incubation
  • Mentors/ CAN
  • Pitch Dingman
  • Content
  • Events
  • (Back2Basics,
  • DDL, Speakers)
  • Dingman Center Process
  • Curriculum
  • Research
  • Distribution
  • Classroom
  • Business Plan Competition(China)
  • Research Conference
  • Events
  • Newsletter
  • Website
  • Eclubs (MUSE/MBA)

4
Dingman Center
Marketing (newsletters, brochure, MAP, website)
INCUBATE Student-Run Businesses
PROMOTE Campus Entrepreneurship
SUPPORT Regional Entrepreneurship
DEVELOP Entrepreneurship Content
SPONSOR Entrepreneurship Research
  • Hook and Ladder
  • Shop DC
  • Smith Store
  • Alertus
  • ARTKIA
  • Serenity Now
  • Dayna Jewelry
  • Babyphones
  • Crooked Monkey
  • Cap Gowns
  • Arcxis
  • Pitch Dingman
  • Tech Transfer
  • Business Plan
  • Competitions
  • -- P/T MBA
  • -- China
  • Engage Campus
  • -- DDL
  • Student Volunteers
  • E-Club
  • -- VCIC
  • Mentor Program
  • CAN
  • Incubators
  • -- CIC, MDTC,
  • SSIC, ETC
  • EIRs
  • -- Local Startups
  • Events
  • -- Back2Basics
  • -- Speakers
  • -- Tech Visionary Series
  • Dingman Process
  • PhD articles in DCE
  • Newsletters
  • TiE Program
  • China Business Plan
  • Dingman Center
  • Research Fellows
  • Research
  • Conferences
  • Sponsored research

5
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6
DCE 2005-2006 Initiatives
  • Capital Access Network Development
  • Increased investment activity/Seed Fund
  • Global China Business Plan Competition
  • Summer 2006 Israel Trip
  • Additional student run businesses
  • Expansion of the Smith Store

7
Student Run Businesses
  • All students are given the opportunity to start
    businesses
  • Dingman Process is the guiding tool
  • Focus on creating a manageable business model
  • Finds a fit with Dingman Centers knowledge,
    skills, abilities, funding
  • Student businesses must meet bench marks
  • Metrics Market size, revenue potential
    projections, scalability
  • Critiqued by professors, CEOs, business leaders
  • Smith e-fund 40,000 annual funds available
  • Up to 10,000 per business

8
Projects
  • Find a Business Model that works
  • Outback Steakhouse
  • Money Ball
  • Out at Night Baltimore?Shop DC
  • Karaoke Bars
  • Prescription Sunglasses

9
2005 Student Run Businesses
  • Direct Involvement/Financing
  • Hook Ladder (Matt Fleischer MBA05)
  • 10,000 in seed funding, target bars in MD, DC
  • SHOP DC (Zoey Rawlins MBA 05)
  • 7,000 in seed funding, Second issue currently in
    DC market
  • NorthStar Games (Dominic Crapuchettes MBA04)
  • 3,000 in funding
  • ARTKIA
  • 70,000 in grant funding from TEDCO
  • Smith Store
  • 5000 in 2003-2004 ? 33,000 in 2004-2005, 560
    increase
  • Transitioned from club to company
  • Dayna Designs, Purple Collar, Alertus, Crooked
    Monkey, Serenity Now, Cap Gowns, Babyphones
    etc.

10
Pitch Dingman
  • Every Friday 1100 a.m. 1200 noon
  • Five to ten minute pitch
  • Students get immediate feedback from Dingman
  • Scholars on feasibility and implementation
    process
  • Participants may compete monthly for 500
  • Access to unique resources (technology, finance,
  • marketing specialists) is provided
  • 90 students, faculty and staff pitches
  • 30-40 actively pursuing businesses

11
Capital Access Network Mentor Program
  • Mission To connect entrepreneurs with regional
    seed-stage investors
  • Structure
  • Distribution on 15th of each month,
  • Mentor Day
  • Breakfast
  • Results
  • 37 companies distributed through network
  • 9 companies attended 3 Mentor Days
  • 30 potential investors at the pilot breakfast
  • Partner with 4 local incubators
  • Sponsored by Deloitte, Silicon Valley Bank

12
MBA Finderwww.Smith.MBAFinder.net
Internet marketplace location for use by any
individuals ("Users") who seek to engage in the
exchange of services for payment
MBA Candidates Find Work
Employers Locate Talent
13
Market Conditions
  • Labor Supply
  • MBA Candidates
  • Desire to earn money for exciting project work
  • Seek job experience with small/start-up companies
  • Want to use their time to generate income /create
    job opportunities
  • Labor Demand
  • Local Business Employers
  • Seek Smith MBAs for paid project work
  • in the following areas
  • - Market Research, Competitor Analysis
  • Financial Modeling, Feasibility
  • Studies
  • Proposal Writing, Presentation
  • Development
  • Want to save time and accurately select
  • employees

14
Recent Project Requests
15
Dingman Center Events
     Back2Basics "Exiting Your Business"
  Thursday, December 1, 400 - 600 p.m. 1206
Van Munching Hall, College Park .  Dingman Day
Lunch Friday, December 2, 1230 - 230 p.m. 3rd
floor atrium, Van Munching Hall
16
International Activities
  • China business plan competition (Finals 9/23)
  • ChinaCast non-degree content delivery
  • Smith Delegation to China
  • John LaPides
  • Dan Goodman
  • Valerio Zanini
  • Sadia Asghar
  • Derek Vlcko
  • Hongxia Wang
  • Tien Wong

17
1 Seeing Threads in the Energy Market
  • Oil is becoming a more scarce resource (market
    shifts and demographics)
  • US is increasingly looking to a diversified
    energy portfolio (politics)
  • Consumers looking for cheap and immediate
    alternatives (market shifts)

18
(No Transcript)
19
2 Asking the What Ifs? about Energy
  • What if cars could run on some other type of
    fuel?
  • What if mass transportation became free?
  • What if hydrogen cars come sooner than
    expected?
  • What if the US is leapfrogged by developing
    countries in energy efficiency?
  • What if Saudi relations turn hostile?
  • The Leapfrog Strategy WSJ, July 25, 2005

20
3 Pure Art Discovery
  • Understanding of chemistry and physics to test
    theories about nature
  • Artists ideas of new transportation vehicles
    (i.e. Divincis helicopter, the teleporter)

21
Convergence of You The World
How Opportunity Happens
Your area of opportunity
22
Step 1 Ideation GOAL Ideation is the specific
identification of opportunities emerging or
present in the market which can be captured by
the entrepreneur.
23
Step 2 AssessmentGOAL Assess the viability of
the opportunity to decide whether to proceed to
the implementation phase.
24
Step 2 AssessmentGOAL Assess the viability of
the opportunity to decide whether to proceed to
the implementation phase.
25
Step 3 ImplementationGOAL To produce a
prototype or first iteration of the
service/product that capitalizes on the assessed
trend.
26
Step 3 ImplementationGOAL To produce a
prototype or first iteration of the
service/product that capitalizes on the assessed
trend.
27
Step 4 IterationGOAL To assess the first phase
of commercialization , and create a feedback loop
of continuous improvements.
28
Step 4 IterationGOAL To assess the first phase
of commercialization , and create a feedback loop
of continuous improvements.
29
SHOP DC Dingman Process In Action
  • SHOP DC magazine was started by an MBA student in
    August 2004 using the Dingman Process
  • 10 months from ideation to iteration (finished
    product to market)
  • Had a viable business upon graduation
  • Revenues increased 172 for second issue
  • Supported with financing and human capital

30
SHOP DC Dingman Process In Action
  • Ideation Identify a trend in Washington, DC
  • Baseball is coming to Washington, DC
  • Downtown DC was 50 under-retailed in 2003
    (compared to other metropolitan areas)
  • Local revitalization efforts to give DC a more
    international appeal
  • Boom in the higher-end and luxury condo market
  • Assessment Research the market place and develop
    a prototype
  • Scholar talked with retail property managers,
    residents, visitors organizations and city
    officials.
  • Developed a prototype, sent to potential clients
    and followed up.

31
SHOP DC Dingman Process In Action
  • Implementation Developed and executed on the
    strategy
  • Developed pricing structure, distribution
    channels, and physical product
  • Launched April 2005 to capture heaviest tourist
    season.
  • Sent out press releases (Wash Post, Wash Biz
    Journal, DC Examiner)
  • Networked and developed marketing plan
  • Iteration Feedback loop from clients, readers,
    distribution channels
  • Changes made to second issue based on core
    differentiators (capitalize where competitors are
    weakest)
  • Picked up exclusives which added significant
    value to readers/advertisers
  • Expanded distribution

32
Questions?
  • For further information refer to our website
  • www.rhsmith.umd.edu/dingman
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