The Entrepreneurship Program has two objectives: to help students develop the skills required for venturing and to provide an opportunity for students to start an entrepreneurial career. Entrepreneurship courses are taught by faculty whose focus is entrepreneurship, new business development and managing innovation. Several of the courses are taught by adjunct faculty who are themselves successful entrepreneurs, venture capitalists or business consultants. There are a number of activities and programs designed for students interested in new ventures and to foster an entrepreneurial environment. The Entrepreneurship Alumni Network is a mentoring program that provides students an opportunity to interact with practitioners. The Columbia Innovation Enterprise promotes the growth of new businesses within the Columbia community by commercializing university-based technology and starting new businesses based on Columbia intellectual property. Established by a $1,000,000 gift from Eugene Lang, MS �40, the Eugene Lang Entrepreneurial Initiative Fund provides qualified business initiatives with seed capital for carrying them out after graduation. Two student organizations, the Columbia Entrepreneurs Organization (CEO) and the Venture Capital Club (VCC), provide opportunities for students to develop skills and network with faculty, students and practitioners with similar interests and experiences.

Students satisfy the requirements for a concentration by completing three of the following courses beyond the core:

The array of programs and clubs associated with the Columbia Entrepreneurship Program helps students establish their own businesses; assists community, start-up and existing businesses in the New York metropolitan area; and sponsors student business plan competitions.

• Columbia Entrepreneurs Organization (CEO): CEO is a student organization that aims to provide Business School students with opportunities to develop their entrepreneurial talents, to network with other students and to start their own businesses. It sponsors many programs and activities including: student consulting services, which links students with small businesses to gain experience with start-up companies; guest lectures, community projects and a CEO website. CEO is also a co-sponsor of the Annual Business Plan Competition and is actively involved with the Lang Fund.
• Venture Capital Club (VCC): The mission of VCC, a student organization for students interested in venture capital, LBO and private equity investing, is twofold. First, it seeks to support its members by providing access to the world of private equity investing through a network that brings experienced students, practitioners and job opportunities to campus. Second, it seeks to increase the exposure of the Business School community to the dynamics of venture capital by sponsoring guest speakers, workshops and conferences. Two of these events, the Annual Business Plan Competition and Annual Principal Investing Forum provide such opportunities.
• Annual Principal Investing Symposium: Hosted by VCC, this annual forum is designed to allow students and alumni to interact with prominent LBO professionals. It provides an unparalleled opportunity for those interested in finance, consulting, management and venturing to learn firsthand from world-class practitioners. Past guests speakers include: Russell Carson (MBA �67), general partner, Welsh, Carson, Anderson & Stowe; Arnold Chavkin (MBA �77), general partner, Chase Capital Partners; and David Zalaznick (MBA �78), managing partner, Jordan-Zalaznick Capital Company.
• Annual Business Plan Competition: With financial support from alumnus A. Lorne Weil (MBA �71), CEO and VCC co-sponsor an annual competition which encourages Columbia students to explore entrepreneurial interests while learning firsthand what goes into the development and presentation of a solid business proposal. The competition features a distinguished panel of judges who are prominent entrepreneurs and venture capitalists. The prizes total $5,000.

Inner City Consulting matches teams of MBA students with inner-city businesses in a consulting arrangement.

• Columbia Innovation Enterprise (CIE): To promote the growth of a new business within the Columbia University community, CIE seeks to commercialize university-based technology, by working with faculty members and industry and venture capital groups to start new businesses based on Columbia intellectual property.
• Venture Development Resources: Columbia Business School sponsors other publications and activities�such as mentor programs and interaction with practitioners�designed for students interested in new ventures. These include Lang Fund Board of Directors and Advisory Panel, the Alumni Resource Network and the School�s New York Alumni Club�s Entrepreneurial Venture Committee.

 

Eugene Lang Entrepreneurial Initiative Fund

Purpose and History of the Fund

The Eugene Lang Entrepreneurial Initiative Fund was established in 1996 with an initial gift of $1,000,000 from Eugene Lang, MS �40, founder of REFAC Technology Development Corporation. Its objective is to foster an entrepreneurial environment at Columbia Business School by providing students who conceive qualified business initiatives with seed capital for carrying them out after graduation. It also seeks to provide the Business School with the opportunity to share in the success of funded ventures through negotiated equity or other participation.

Eligibility

All students enrolled in Columbia Business School�s MBA program are eligible to submit business plans for funding consideration in accordance with specified procedures. Students may work individually or with a partner.

Criteria

Proposals for all types of enterprises�small or large-scale; high or low-tech; start-ups or acquisitions; service, manufacturing or retail operations�will be given consideration in relation to the following criteria:

• Feasibility of the proposed venture and its prospects for success
• Strength of the student�s commitment to the venture and his/her qualifications to make it succeed
• Prospects for raising additional funding as may be required
• Technical or conceptual originality or social value

Selection Process

Students may submit proposals at any time during the academic year, but not later than January 1 of the year in which they expect to graduate. Each plan will be given a preliminary review by the Lang Fund Faculty Advisor or the Entrepreneurship Program Director. Students will then have the opportunity to discuss and develop their proposals in consultation with the Faculty Advisor, members of the Fund�s Advisory Panel and/or alumni mentors.

Once a proposal is accepted as complete by the Entrepreneurship Program Director and Faculty Advisor it will be formally reviewed by a committee comprised of members of the faculty and the Advisory Panel. This committee will select those to be referred to the Board of Directors for final review and funding decisions. In deciding which plans, if any, merit investment, the Board of Directors may request additional information or personal interviews with the plans� developers.

Funding decisions will be reached before the end of the spring semester.

Mentoring and Assistance

Students will have a variety of resources available to them to assist with the development of their proposals. These include the School�s entrepreneurship courses, faculty advisors, the Lang Fund Advisory Panel, volunteer alumni mentors and relevant external sources, as well as the Lang Fund Board of Directors.

For further information - email Jenifer Renshaw ([email protected]).

 

Course Listing: Spring 1999

Course #	Course Name	Professor(s)
B8399-006	Entrepreneurial Finance	Hubbard
B8604-001	New Product Development	Narayanan
B8704-001	Managing Innovation	Nerkar
B8705-001	Managing New Ventures	Schorer
B8711-001/2	Turnaround Management	Resnikoff/Pfeifer
B8713-001/3	Introduction to Venturing	Sherman, Low and Doyle
B9701-032	Starting, Building and Managing Growth, Continuity and Succession of the Privately-Owned and/or Family Business	Shulman
B9701-059	Entrepreneurship in Telecommunications & New Media	McKnight
B9701-061	Entrepreneurship and Technology	Kaplan
B9701-063	Entrepreneurship Through Acquisition	Chalfin
B9701-065	The Emerging Company	Preston

 

Last Updated: 11/06/98