The Stephenson Entrepreneurship Institute Fellows Program

Transcription

1 The Stephenson Entrepreneurship Institute Fellows Program Sustained economic growth requires a steady stream of eager, committed and talented entrepreneurs willing to grow new businesses and innovate within existing ones. With that in mind, The Entrepreneurship Fellows Program (EFP) offered by the Stephenson Entrepreneurship Institute and the E.J. Ourso College of Business is a year long work/study program intended to help foster and retain needed talent in the region by providing an intensive, high quality entrepreneurship educational experience to a select, small group of undergraduate students at LSU. The small number of fellows admitted into the program is intended to facilitate significant individual attention given to each fellow, resulting in a very high quality educational experience. This allows the undergraduate fellows to quickly develop their knowledge base in an intensive, nurturing environment where they can strongly engage with the ideas and tools that support an entrepreneurial career. The goal of the program is to nurture new entrepreneurs who will be driven by opportunity and aided by access to social networks, resources and new knowledge. To accomplish this goal, fellows are enabled to become active participants in the social networks that are vital to dynamic economies and are exposed to leaders from across the region. They also are encouraged to become active participants in regional economic development efforts and learn to apply principles of entrepreneurship wherever they are needed, from high tech startups, to established firms, to non profit corporations. The fellows program s overall objective of providing participating students with the knowledge, experience, and social network needed to quickly become an important part of economic development in the region is accomplished through a comprehensive program that includes: Participation in a formal mentorship program. Attendance of a guest speaker series in the spring semester. Completion of MGT 4020, Internship in Entrepreneurship; the internship must be pre approved by administrator of the Fellows program. Participation in at least two site visits to regional companies and institutes. Attendance of a number of select SEI, E.J. Ourso College of Business, and LSU networking events with industry and community leaders. Participation in fall semester Fellows meetings to de-brief and share experiences and knowledge gained from the internship experience. Enrollment in either the undergraduate Entrepreneurship Minor or the undergraduate Entrepreneurship Concentration offered by the E.J. Ourso College of Business is precondition for admission into the program.

2 Fellows Requirements Prerequisites A strong interest in entrepreneurship and a basic level of business knowledge is a prerequisite for admission to the program. This requirement exists in order to ensure an appropriate foundation of knowledge for the internship and for overall success in the program. Enrollment in the undergraduate Entrepreneurship Concentration or the undergraduate Minor in Entrepreneurship is also required. Entrepreneurship Minor Requirements To graduate with a minor in entrepreneurship, students must complete 18 hours consisting of the following courses: MGT 2000; MGT 3111; MGT 4113 and nine additional hours to be chosen from: MGT 4120, MGT 4114, MGT 4701 or departmentally approved electives. All courses must be completed with a grade of "C" or better. At least nine semester hours must be taken on this campus, and of the nine hours, at least three must be at the 3000 or 4000 level. The entrepreneurship minor is NOT available to students majoring in Management with an Entrepreneurship concentration. Entrepreneurship Concentration for Management Majors Required Courses (15 hrs.) MGT 3111; MGT 4113 or MGT 4114; MGT 4100 or MGT Approved Electives (6 hrs.) A list of approved electives is available from the Rucks Department of Management and is posted on the Rucks Department of Management web site. Summer Internship With the support of the SEI, SEI fellows will identify and complete an entrepreneurship-oriented summer internship. The internship must be with a startup organization, an established firm with innovation focused needs, an economic development center or with a social entrepreneurship oriented non profit corporation. The purpose of the internship component of the fellows program is for fellows to get involved in the entrepreneurial process by observing important decision making processes and innovation efforts as well as by participating in business plan formation and similar tasks. Salary is negotiated with the employer, although in the case of internships secured by the SEI employers will agree to minimum guidelines. Three hours of course credit are offered for the summer internship through MGT 4020, Internship in Entrepreneurship, which includes participation in required debriefing meetings in the fall semester to share experiences and solidify knowledge gained from the internship. In addition to students initiatives to secure an internship for themselves, the SEI will strive to secure a limited number of internships that SEI fellows can compete for. Matching of fellows with these internships is done through a competitive process. Fellows apply to internships secured by the SEI in which they are interested, and program partners decide who best matches their needs. Fellows then select from among their offers. This method helps ensure a good fit for partners and fellows. It also helps educate fellows on the competitive process of applying and interviewing for jobs as well as obtaining a position.

3 Mentorship Fellows are matched with industry mentors from the regional business community. Mentors include entrepreneurs, executives, institute directors, consultants and others who can advise fellows both during and after the completion of the program. Mentors commit to regular meetings with fellows that are facilitated by SEI through planned social events. In future years, it is the goal that alumni of the Fellows program become alumni mentors and are also matched with current fellows. Program partners are especially encouraged to become mentors for fellows. Debriefing Meetings In the fall semester following the internships, fellows will attend on campus seminars where they will share and discuss their internship experiences with the other fellows, thereby both sharing and solidifying the knowledge gained from their experience. Each fellow will prepare a presentation about their internship and lead a discussion. Presentations also will be made to the company where the internship took place, allowing fellows to synthesize their observations into concrete recommendations for the internship firm. Networking Events SEI holds a series of networking events with area leaders and program partners. These informal and formal gatherings are used to encourage fellows to become active participants in the regional business community. The events provide visibility for the fellows and help integrate them into business culture outside the university environment. SEI Speaker Series The SEI speaker series is integrated with the Fellows program by giving fellows direct exposure to speakers, including at invitation only dinners, luncheons and receptions. The guest speakers include distinguished educators, executives and entrepreneurs who understand the challenges facing our economy. These individuals are committed to developing young entrepreneurs and innovators. Program partners are invited to participate in the speaker series, either as potential speakers or as guests of SEI at a lecture and dinner. Professional Development A large component of the Fellows Program involves exposing fellows to fundamentals of business culture, communication and etiquette. The seminar format of the spring and fall events encourages this through class discussion and debate. Fellows also acquire presentation skills, practice appropriate business dress and speech, social networking skills and how to properly negotiate career hurdles as they gain responsibility in their future jobs. Site Visits Fellows may periodically visit local and regional sites to learn about the missions of area businesses, institutes and centers. Program partners are invited to host a site visit to help fellows better understand the partner s business and to aid in recruiting.

4 Admissions Process Admission to the Fellows Program is limited to a select number of exceptional students who have a passion for entrepreneurship and who meet all academic program enrollment requirements. Application to the program consists of: a completed SEI fellows program application document (available at sei.lsu.edu) A copy of your resume detailing any your work experience, your educational and/or other credentials, your current GPA, and any honors or awards received during high school and/or college. A copy of all college transcripts (please make sure that documents do not include SS#) Two letters of recommendation from a teacher, employer, or advisor A personal written statement of no less than 500 and no more than 700 words describing why you are interested in and why you should be considered for admittance into the Program. Make sure you explain your entrepreneurial passions, goals and career interests; also briefly state your internship interests and how you would try to obtain an internship in the course of this program. As part of the selection process, qualified candidates may be invited for an interview, which will be scheduled shortly after the application deadline. Application deadline for admission in the fellows program commencing in spring 2014 is Thursday, October 24, 2013; applications received by this date will be given full consideration (applications received after this deadline may be given consideration). Applications should be submitted electronically to Dr. Thomas Greckhamer at tgreck@lsu.edu and must list the student s full name and SEI Fellows Application in the subject line of the (e.g., Subject: John Doe, SEI Fellows Application ). After the application deadline and as part of the selection process, applicants will be selected for an interview. Decisions on admissions into the fellows program will be made following these interviews.

5 About SEI Mission The mission of the Stephenson Entrepreneurship Institute (SEI) is to promote and foster entrepreneurial practices through education, outreach, and research. We seek to inspire, innovate, integrate, and implement new ways of thinking, to positively impact students, the regional economy, the state of Louisiana, and the nation. We are a multidisciplinary institute that serves the University and the local business community, and we work closely with our partner, the Louisiana Business & Technology Center, to assist in economic development and small business development related endeavors. A generous donation by LSU alumni Emmett and Toni Stephenson has enabled us to continue to elevate LSU's entrepreneurship and economic development programs to new heights. Benefits for Partnering Organizations SEI seeks partner organizations to assist us in maintaining the internship, mentorship and speaker series components of the Entrepreneurship Fellows Program. Partnering organizations accrue many benefits, the most important being the opportunity to help develop talent that can make a lasting impact on the Gulf Coast s economy. Other benefits include: Augmenting an organization s new initiatives with young innovators Offering talented, capable, pre-selected interns with the potential for long term employment Streamlined recruiting through talent identification and development Hosting site visits to help fellows better understand the partner s business and to aid in recruiting Opportunity to mentor individual fellows and give a guest lecture to the entire group Invitation to the annual graduation dinner New connections with community leaders through Fellows Program events Stephenson Entrepreneurship Institute Louisiana State University E. J. Ourso College of Business 3000 Business Education Complex Nicholson Extension Baton Rouge, LA Phone: E mail: sei@lsu.edu

6 Program Information for Guest Speakers, Mentors and Internship Employers for the Stephenson Entrepreneurship Fellows Program The Entrepreneurship Fellows Program (EFP) is a work/study program comprised of outstanding LSU students who possess a passion to study entrepreneurship. During the summer, each student has a paid summer work assignment in a partnering company, providing students with hands-on experience. Mentoring Relationships and Reporting Structure The Stephenson Entrepreneurship Institute requests that each Entrepreneurship fellow is assigned a mentor within the organization. Although an individual Entrepreneurship fellow may have daily supervision by another employee, it is critical to the success of the program that each student has a mentor who is concerned with his or her education, welfare and activities. For example, a mentor will normally have a weekly or biweekly one on one check in with the student to discuss and assess progress and goals. Quality of Internship Work Assignments Entrepreneurship fellows are some of the most accomplished and dedicated students at LSU. Many have served in leadership positions and some have launched ventures of their own. They have gone through EFP's rigorous admission process and are enrolled in either the Entrepreneurship Minor or the Entrepreneurship Concentration or Specialization. This program strives for mutually beneficial relationships between the student and the company. We seek to maximize the students' learning and their contribution to the venture's success. Compensation Because we have placed fellows in markets throughout the country, compensation levels have varied. We do ask that these high-achieving students be compensated for the time spent with the mentor companies. LSU Connection Although certainly not limited to LSU-related ventures, SEI is particularly pleased when companies with SEI graduates seek to participate as internship or mentoring sponsoring companies. Respect for Intellectual Property In all aspects of the program, LSU endeavors to protect the intellectual property of companies in a professional manner. All class discussions are treated with extreme sensitivity to this issue.

7 Frequently Asked Questions: Question: What is the deadline to register to participate in the program? Answer: There is no specific deadline for employers to sign up for the program. However, companies are encouraged to register any time during the spring, but it is generally better to do so by March to make sure they are in the employer database when the students begin looking for summer positions. In the past, many students have signed with companies that were not in the database at the beginning of the spring semester. Generally speaking, companies can assume that all students have accepted positions by May of a given year. After May, companies should wait until the fall to register for the program for the following year. Question: After my company registers for the program, how long until we get our student? Answer: Companies that sign up for the program are not guaranteed to have students assigned to them. In fact, there is no assignment process. Students and employers interview each other and reach their own agreement. This process is facilitated by the employer database that is made available only to students in our program. Question: Once I have registered my company for the program, how do we start interviewing the students? Answer: Students and companies are encouraged to contact one another directly. We will exchange the contact information provided by both parties. Question: How are the students compensated during the summer? Doesn't the Entrepreneurship Fellows Program fund them? Answer: Students do not receive funding from LSU, SEI or the EFP during the summer. Rather, companies that participate in the program are responsible for paying students a competitive wage. Question: What other expectations are there for companies who participate in the program? Answer: In addition to adhering to the criteria listed above, we ask companies to participate in a number of EFP-sponsored activities. Particularly, we would like to have a company representative visit our classroom as a guest speaker in the fall and, if possible, have a company representative attend the Fellows invitation-only graduation. Next Steps for Potential Internship Employers, Mentors, and Guest Speakers If interested in becoming a participating employer, mentor, or guest speaker please contact Robin Kistler via at rkistler@lsu.edu or via phone at (225)