Title: Dingman Center for Entrepreneurship Smith School of Business University of Maryland
1Dingman Center for EntrepreneurshipSmith School
of Business University of Maryland
2Agenda
- Dingman Center Overview
- Dingman Center Organization List
- Dingman Center Process
- Services
- Incubate businesses
- Support entrepreneurs and investors
- Questions
3What 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)
4Dingman 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
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6DCE 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
7Student 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
8Projects
- Find a Business Model that works
- Outback Steakhouse
- Money Ball
- Out at Night Baltimore?Shop DC
- Karaoke Bars
- Prescription Sunglasses
92005 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.
10Pitch 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
11Capital 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
12MBA 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
13Market 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
14Recent Project Requests
15Dingman 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
16International 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
171 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)
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192 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
203 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)
21Convergence of You The World
How Opportunity Happens
Your area of opportunity
22Step 1 Ideation GOAL Ideation is the specific
identification of opportunities emerging or
present in the market which can be captured by
the entrepreneur.
23Step 2 AssessmentGOAL Assess the viability of
the opportunity to decide whether to proceed to
the implementation phase.
24Step 2 AssessmentGOAL Assess the viability of
the opportunity to decide whether to proceed to
the implementation phase.
25Step 3 ImplementationGOAL To produce a
prototype or first iteration of the
service/product that capitalizes on the assessed
trend.
26Step 3 ImplementationGOAL To produce a
prototype or first iteration of the
service/product that capitalizes on the assessed
trend.
27Step 4 IterationGOAL To assess the first phase
of commercialization , and create a feedback loop
of continuous improvements.
28Step 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
32Questions?
- For further information refer to our website
- www.rhsmith.umd.edu/dingman