Do you have an idea for a startup or know someone that does? Or do you have an innovative technology that might be the foundation for a startup? We'd like to invite you to consider entering your startup idea or technology for consideration in our Program for Entrepreneurs.
What is the Program for Entrepreneurs (P4E)?The Program for Entrepreneurs, started in 2008, is a program that let's Duke students receive course credit for their work on starting a company. Students can receive credit for up to two years, and work through a sequence of courses that takes them through the business planning process. The "lead students" tend to be Duke MBA students, and the rest of the team is comprised of other MBA students, graduate students, and undergraduate students. Last year we had approximately 50 students working on various startup projects.
What role is there for me?
This email serves as a Call for Startup Ideas. Hopefully you are someone that has developed a technology or startup idea and are in need of business help (or you know of entrepreneurs and inventors that do need this help). The students in the Program for Entrepreneurs can be matched with an idea (they can also select their own idea).
How to Participate
If you participate, a description of your technology/innovation would be made available to students and, starting in July, they will consider your idea along with the others that are submitted. Last year we had approximately 70 ideas submitted, and we expect a similar number this year.
From July 1 to July 21, the interested students will let us know which ideas they are interested in, and for those that receive the most interest, we'll attempt to connect them with you the idea submitter. Some of those connections will result in a partnership forming between you and the students.
From August to October, they will continue to refine the business case for thestartup idea, and in mid-October, they will present a pitch for our Advisory group. We will select the top startup teams, who will then enroll in the course.
From October to December, they will have the opportunity to continue to work on the idea for course credit, assuming they pass through the various hurdles and milestones we set. And after December of next year, the companies launch.
We are looking for specific situations that will lend themselves well to this program.
1) We are looking for situations where there is a strong need for the development of a business case and business model, but the technology/idea has achieved some amount of proof of concept. Often this looks like technical co-founders who are experts in the industry, but may not be experts on the business side of things.
2) In addition, we are looking for situations where the founders are open to the possibility of having some of the Duke students join the team, assuming everything goes well. In the ideal situation, after two years of working on the project, the Duke students will be able to join the company and receive equity participation that is a win-win for all parties.
Fill this out by June 30th!
Program for Entrepreneurs (P4E)
Howie Rhee, MBA
Managing Director, Center for Entrepreneurship and Innovation
Fuqua School of Business, Duke University
Learn more about Entrepreneurship at Duke - www.EntrepreneurshipAtDuke.com
and read our Duke Entrepreneurship Manual - www.dukeven.com