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The entrepreneurial spirit is very much alive in today's economy and offers many career choices. These range from new venture creation and venture capital financing to intrapreneurship - the application of entrepreneurial leadership within an innovative corporate environment. However, choosing among these entrepreneurship paths can oftentimes be challenging. Entrepalooza 2005 provided audience members with the opportunity to explore entrepreneurship paths in real estate and social enterprise, as well as new venture creation and venture capital financing. The symposium included four panel discussions; three
breakout, networking sessions; and two very
special keynote speakers.
Keynote Speakers:
Bharat Desai (MBA '81), Co-Founder, President and CEO,
Syntel, Inc.
who grew Syntel from a Troy, Michigan-based IT staffing company in 1980 to a successful global IT solutions firm with over 4,700 employees. Mr. Desai founded Syntel with his wife Neerja Sethi. At the symposium, Mr. Desai was presented with the 2005 Alumni Entrepreneur of the Year Award.
Dan Gilbert,
Chairman and Founder, Quicken Loans Inc. and majority owner of the NBA Cleveland Cavaliers. Mr. Gilbert grew Quicken Loans to become the nation's largest online retail home lender. Gilbert closed his presentation by inviting audience members to the podium to give a three-minute elevator pitch on their new business venture. Participants included Raj Attal (MBA '06) who recently launched TV Desi, Bob Mazur (MBA '03) the inventor of the Purrfect Opener, and Todd Sullivan (MBA '05) who recently launched Spirit Shop. The prize for the best pitch went to Todd Sullivan who was presented with a LeBron James autographed Jersey .
Panel Discussions:
The Real Estate Entrepreneur, Social
Entrepreneurship, Venture Capital/Private
Equity Finance, and Building Successful
Ventures.
Symposium Brochure
Entrepalooza 2004: Expanding the Horizons
of Entrepreneurship
Friday, September 24 - Ann Arbor, MI
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Entrepalooza 2004 recognized the vast and
dynamic evolution of the entrepreneurial
industry. There are many business creation
opportunities that can be identified from
within the corporation, through turnaround
management, or in emerging economic
conditions that are taking entrepreneurship
across borders. In addition,
entrepreneurship is playing a critical role
in the social sector where it is fast
becoming an effective vehicle for tackling
daunting social problems. Entrepalooza 2004
provided a tremendous networking opportunity
in addition to exposure to the various
facets of entrepreneurship. The symposium included four panel discussions; three
breakout, networking sessions; and two very
special keynote speakers.
Keynote Speakers:
David A. Brandon, Chairman and CEO,
Domino's Pizza, Inc.
who took Domino's Pizza, Inc. public in July
2004, in what was the largest initial public
offering in Quick Service Restaurant
history. Also, Keith Alessi,
Chairman and CEO, Lifestyle Improvement
Centers LLC., and former Chairman, President
and CEO, Jackson Hewitt. Mr. Alessi (MBA
1979) has over 20 years of senior executive
experience specializing in
"turnaround" situations. At the
symposium, Mr. Alessi was presented with
the 2004 Alumni Entrepreneur of the Year
Award.
Panel Discussions:
Entrepreneurial Success in Asia, Social
Entrepreneurship, Venture Capital/Private
Equity Finance, and Building Successful
Ventures.
Agenda
and Presenters
Presenter
Bios
Entrepalooza 2003: Entrepreneurship
in All Its Forms
September 26, 2003 - Ann Arbor, MI
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This special public symposium
aimed at bringing
entrepreneurship out not only from an economic
and tech scene but also from a societal
platform. Entrepalooza 2003 provided
students, venture capitalists, and business
executives with a tremendous networking opportunity
in addition to exposure to the various facets of
entrepreneurship.
The symposium featured two outstanding
keynote speakers, Samuel Zell, chairman of
Equity Group Investments and Richard Snyder,
former COO and president of Gateway, Inc.
and founder and CEO of Ardesta. Panel discussion topics included corporate
entrepreneurship, social enterprise, venture
capital, and leading Southeast Michigan technologies.
Business School Dean Robert J. Dolan presented
Snyder with the Alumni Entrepreneur of the Year Award.
Read more about Entrepalooza 2003 in the Monroe
Street Journal.
Entrepalooza 2002: The Foundation of Future Business
September 13, 2002 - Ann Arbor, Michigan
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Michael Jandernoa, chairman of the board of Perrigo Company, kicked off Entrepalooza
2002 by sharing his own success story of the
west Michigan pharmaceutical firm and offering lessons applicable to the current entrepreneurial environment. Business School Dean Robert J. Dolan presented Jandernoa with the Alumni Entrepreneur of the Year Award.
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Ravi Mohan, general partner of Battery Ventures, advised venture investors to monitor ever-changing business conditions constantly and to determine whether their current business practices are working or whether they need to modify, adapt, or gain new skills in order to maximize their investment potential. Perseverance, hard work, and treating people right will be key strategies, he added, both for entrepreneurs seeking funding and equity investors looking for good deals, as the industry undergoes a "massive shakeup" over the next few years.
Concurrent panel discussions by entrepreneurs, venture investors, and business executives centered on ways to obtain equity financing for angel, seed-stage, and late-stage companies, strategies for growing a small business, and opportunities offered by franchising or start-up ventures in emerging economies. Despite the sharp decline in fundraising in 2002, the slower pace of investing, and the lengthening time to liquidity, which have lowered once lofty expectations for returns, industry leaders remained upbeat about the long-term prospects for venture capitalism and the opportunities for young people. |
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Entrepalooza 2001: The Changing Face of Entrepreneurship
September 15, 2001 - Ann Arbor, Michigan
Entrepalooza 2001 proceeded as scheduled in the wake of September 11th's tragedies and proved a tremendous success.
Various panels and keynote speeches delivered the message: entrepreneurship is alive and well! |
Michael Callas, MBA2 Symposium Co-Chair, opened the symposium and welcomed more than 450 participants who heard from two industry-leading keynote speakers. University of Michigan Business School Dean Dolan followed Mr. Callas' remarks and awarded Hal Davis the Alumni Entrepreneur Award. Mr. Davis graduated from the UMBS in 1985 and co-founded BlueGill Technologies in 1996. As CEO, he led the project that enabled online bill presentment, which marked BlueGill as one of the most successful Ann Arbor-based start-ups of all time. He sold BlueGill Technologies for $250 million in April 2000. Mr. Davis spoke about what it takes to be a successful entrepreneur and when to quit your job and launch a company.
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Also joining Mr. Davis was Donna Dubinsky, CEO and co-founder, Handspring, Inc., and former CEO, Palm Computing. Joe Sipher, Vice President of Product Marketing, Handspring, Inc., introduced her to the audience. Mr. Sipher and Ms. Dubinsky were unable to be present in Ann Arbor; however, they joined us via videoconferencing from California. Donna called herself a serial entrepreneur, having more than 20 years of field experience. Donna delivered a very focused address in which she shared lessons learned in three categories: entrepreneurship, business, and personal life. Panel discussions covered a range of topics, including: Transforming Your Idea Into a Business: Managing the Growth of New Ventures; After the Party: A VC Perspective; Entrepreneurship Via Acquisition; and Entrepreneurship in Emerging Economies. The Emerging Economies panel provided PowerPoint slides to share: Croatia; Palestine; and Entrepalooza final.
Emerging Industry Symposia
Each winter, the Institute collaborates with
the Office of Technology Transfer to present
an Emerging Industry symposium. Past events have
featured Microsystems, the Life Sciences,
Energy, and MedTech. This annual event attracts
250 - 350 guests
comprised of students, business leaders,
researchers, academicians, and investors.
The Business Reality of Micro and Nano Technologies
March 31-April 1, 2005 - Ann Arbor, Michigan
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Nano and Micro technologies have the
potential to be revolutionary in
electronics, healthcare and numerous other
fields, but will the business realities live
up to the hype that has been gathering
steam? This symposium attempted to get
behind the hype of Small Tech and into real
issues as they relate to Michigan-based
companies commercializing product in the
field. The symposium explored the
economic forces that come into play as these
new technologies strive to reach the
marketplace.
Nationally regarded analysts and investors
led discussion on the forces influencing
the marketplace, business models developed
by large and small companies as a result of
these forces, and the funding alternatives
considered by young companies. Keynote
speakers shared their visions as to the
future of the industry, both in terms of
technology and investment opportunity. In
addition, guests were able to speak directly
with Michigan-based researchers and Small
Tech companies during the poster session.
Program
Participant
Bios
Poster
Session Participants
MedTech:
The Business of Medical Devices
March 12, 2004 - Ann Arbor, Michigan
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From replacement hips to dialysis
machines, tens of millions of Americans are
touched by medical devices each and every
day. MedTech explored
the economic forces that come into play as
these new, non-pharmaceutical medical
technologies strive to reach the
marketplace. Internationally-regarded
analyst Thomas J. Gunderson at Piper Jaffray
noted that medical devices are increasingly
moving into traditional drug markets.
Stephen N. Oesterle, MD, senior vice
president for medicine and technology at
Medtronic, talked about the medical device industry's
critical role in providing
site-specific controlled delivery systems to
patients.
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Panel discussions focused on the forces influencing the
marketplace, business models developed by
large and small companies as a result of
these forces, and the funding alternatives
considered by young companies. In addition,
guests were able to speak directly with
Michigan-based researchers and Medical
Device companies during the poster session
immediately following the panel discussions.
More than 275 entrepreneurs and investors
attended the symposium sponsored by the
Institute and the Office of Technology
Transfer.
Program
Poster Session Companies / Research Projects
Alternative Energy: Economic Impact and Opportunity
February 14, 2003 - Ann Arbor, Michigan
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Speaking to an audience of 325 people at a recent University of Michigan emerging-industry symposium, held February 14 in Ann Arbor, public and private sectors leaders examined the promising business opportunities created by America's pursuit of sustainable alternative energy. "We stand on the cusp of revolutionary change in this country and the world," said opening keynoter Douglas Faulkner, a deputy assistant secretary for energy efficiency and renewable energy at the U.S. Department of Energy.
All signs, Faulkner said, point to an energy future based on hydrogen. The government will play a role in funding research and development, but the formidable task of assessing new technology commercial viability and proceeding to the marketplace will rest with the private sector. "In Michigan, these [government research] programs provide golden opportunities for individuals and businesses with vision, determination, and expertise," Faulkner told the assembled Business School students and faculty, entrepreneurs, venture capitalists, and automotive and electric power company representatives. |
The second keynoter, Plug Power Inc. president and CEO Roger B.
Saillant, took attendees through a history of the fuel cell industry, from the 1839 discovery of the concept to NASA's 1960s fuel cell breakthroughs and the 1990s hype. Saillant also used the "rule of thirds" to demonstrate why clean energy technologies like fuel cells are so crucial. He said one-third of the world's population lives pretty much like we do in America, one-third exists in abject poverty using virtually no energy, and one-third manages somewhere in between. There simply isn't enough energy for the other two-thirds to live as well as we do, and, besides, the pollution level would be untenable, Saillant said. That's where fuel cells come in. Developing fuel cells as a power source is an interdisciplinary effort, he added. "The three circles -- academics, the government, and industry -- are going to have to come together and overlap in a way they haven't done in the past.
An investing panel on alternative energy sounded optimistic. Michigan still has a chance to be a center of the growing alternative energy industry, even though most development so far occurs on the West Coast and venture financing is concentrated on both coasts.
Two more panels wrapped up the conference. An automotive-dominated panel covered current market adoption of alternative energy technologies, mostly in experimental cars. The last panel looked at how Michigan can take advantage of alternative fuels. The Institute, the Energy Club, the
Office of Technology Transfer, and the Michigan Economic Development Corporation
co-hosted the symposium.
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Life Sciences: An Industry in Transition
February 8, 2002 - Ann Arbor, Michigan
The wealth of statewide start-ups are quickly producing a concentration of talent, technologies, and capital that has the potential of making Michigan a major center for biomedical discovery and the subsequent conversion of these advances into products that will benefit society. Current market dynamics in the Life Sciences sector, such as culture clash issues between major pharmaceutical companies and tiny biotechnology outfits, provided the subject for the half-day public Life Sciences symposium.
The event attracted more than 325 attendees and provided an opportunity for Midwest businesses to learn about biopartnering from industry experts.
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"The pharma industry is in crisis," said Dr. Erling Refsum, Equity Analyst for Nomura International. Dr. Refsum developed his opening statement by discussing the current role of pharma as financial, with engineering vehicles failing to deliver new drugs to the marketplace in the biotech industry. Dr. Refsum explained that as pharma patents expire on existing drugs, startups and small biotech firms are increasingly being expected to provide the research and development for new drugs. In addition, small biotech companies often need big pharmaceutical company backing and steady cash flows from established products in order to bring new products to the marketplace. "Biotech alliances are the real solution to the problem," Dr. Refsum said. "Biotech is THE industry for the new millennium which needs knowledgeable people in both science and business to grow the industry."
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Lee Shainis,
Founder, Intercambio de Comunidades (BBA
'99)
On March 16, 2004, Shainis was awarded the
Alumni Social Entrepreneur Award in
recognition of his entrepreneurial
achievements as the founder of Intercambio,
which is helping thousands of Latino
immigrants to become more self-sufficient
and to better the lives of themselves and
their families.
Michigan
Entrepreneurship Education Network (MEEN)
MEEN began as a partnership between the Zell
Lurie Institute and the Michigan Economic
Development Corporation in 2002. In 2005, the MEEN program transitioned to a permanent home as a program under CyberMichigan. Since its inception, MEEN has conducted a number of outreach initiatives. As part of this effort, MEEN launched a national benchmarking study of "best practices" for Entrepreneurship programs which can be viewed at
CyberMichigan.
For further information about Institute events, contact
Mary Nickson at 734-615-4424 or mnickson@umich.edu.
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