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School:University of Michigan at Ann Arbor

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= Overview—Leadership & Advocacy =

~~Currently the~~ The University of Michigan ~~is undergoing a major shift in~~ leadership views entrepreneurship as one of its most important priorities, with ~~the recent inauguration~~ active involvement from all levels of ~~University President~~ leadership, starting with president Mark Schlissel.~~  Although untested he continues to champion the ideals of the previous president~~With over 15 different, ~~Mary Sue Coleman~~self-sustainable entrepreneurship departments on campus, ~~who over the past twelve years has pushed the entrepreneurship and innovation community at the University of Michigan~~ students have access to faculty from many different schools in order to ~~new heights~~pursue their entrepreneurial goals. 

From 2002-2014 The University of Michigan and its president, Mary Sue Coleman, have played leadership and advocacy roles in promoting innovation and research commercialization at the nation’s universities. The university has prioritized innovation and entrepreneurship’s role in economic development prior to the development of the NACIE commitment letter; for the last several years, major strategic priorities for the University of Michigan include stimulating economic development and growth in Michigan and beyond through innovation and entrepreneurship.

At present, there is a wide range of non-degree programs across all curricula, including

*The '''Zell Lurie Institute for Entrepreneurial Studies,''' (ZLI) at the Ross School of Business, engages undergraduate and graduate students in real world learning. Launched in 1999, the Institute has granted over $2.3 million to student start-ups. In addition to spearheading efforts to spread entrepreneurship across campus by introducing multidisciplinary courses, hosting university-wide business-plan competitions and grant programs, it has spawned entrepreneurship centers at the Law School, Medical School and College of Engineering. Recently, the Institute received a $60M grant to continue supporting entrepreneurial endeavors of students.

*The '''Center for Entrepreneurship''' (CFE), in the College of Engineering, offers entrepreneurship-related undergraduate courses, a nine-credit '''Program in Entrepreneurship '''(PIE) where both undergraduate and graduate students from U-M may earn a certificate of completion, and a 15-credit '''CASE in Entrepreneurship '''(CASEE) where graduate students, as well as working professionals, are taught the fundamental tools necessary for bringing innovative ideas to market. Since its inception 2,830 students have enrolled in CFE sponsored classes.

*'''Zell Entrepreneurship and Law Program''' (ZEAL), at the U-M Law School, prepares law students to advise and/or develop business enterprises and has established a clinic providing much sought-after legal services for student entrepreneurs in university programs.

**Solar Car Team: designing, building, and racing solar cars.

*'''OptiMize''', a student led organization launched the first student-led social innovation challenge, the '''OptiMize Social Innovation Challenge,''' in the country, last year.

*The '''Innovation in Action: Solutions to Public Health Challenges competition''' harnesses the talents of Michigan students to address public health problems.

*As the '''Creators Co-op '''website mentions, the Creators Co-op is a live-in collaborative space for the highest potential entrepreneurs on campus, a playground for busy builders and thinkers with an itch to take action. For students, by students.

*'''RIME (Rural Innovations in Medical Engineering)''' is a student organization at the University of Michigan that is dedicated to bringing quality healthcare to rural areas that otherwise would not have access to it. An entrepreneurially driven approach is the focus at RIME where the plans involve developing a product to bring to a market of people who otherwise would not have access.

=== Some courses and curricular activities ~~focussed~~ focused on Innovation & Entrepreneurship: ===

*'''ENTR 406, High Tech Entrepreneurship''' - Four aspects of starting high-tech companies are discussed: opportunity and strategy, creating new ventures, functional development and growth and financing. Also, student groups work on reviewing business books, case studies, elevator and investor pitches. Different financing models are covered, including angel or VC funding and small business (SBIR) funding.

*The Business Engagement Center, which develops and manages relationships with industry partners

*Facilities for U-M research partners, including biopharmaceutical spinoff Lycera Corp. and Boropharm, a chemical development and manufacturing business

= Regional sources for funding and capital: =

*'''Victors for Michigan''' - A fundraising campaign undertaken by every unit at all three U-M campuses to focus on some or all of the three priorities:

**Student support

**Engaged learning

**Bold ideas

*'''Michigan Venture Capital Association '''

*'''Wolverine Venture Fund''' - The $7 million dollar Wolverine Venture Fund invests primarily in early stage companies. The Fund is one of the world's first VC funds where students are partners in the investment decision-making process. The Fund's students members seek, screen and negotiate investments and develop significant experience in these areas - and in working with VCs and entrepreneurs. An advisory board of professional venture capitalists and entrepreneurs, and approximately 28 MBA students participate in managing this multi-million dollar fund.

*'''Zell Lurie Commericialization Fund''' - The Zell Lurie Commercialization Fund is a pre-seed investment fund established to identify and accelerate the commercialization of great ideas generated within the University community and the surrounding area. Zell Lurie Fund participants (Zell Lurie Fellows) evaluate and invest in early stage entrepreneurial opportunities to learn about the commercialization process and how to be a seed investor. The Zell Lurie Fund teams, focused on healthcare, technology, consumer, and cleantech, work closely with founders, entrepreneurs and with the University of Michigan's Office of Technology Transfer in the course of their work. The Fund is also supported by an advisory board comprised of individuals who have been successful in developing early-stage companeis, markets and technologies.

*'''UM Social Venture Fund''' - Launched in September of 2009, the Social Venture Fund is the first student-led investment fund of its kind and the first to close a deal among other such funds that have launched. The Fund focuses exclusively on for-profit social enterprises existing independently or within the legal structure of a pre-existing organization (LC3, 501c3, LLC, etc.). It invests $50,000-$250,000 in pre-revenue and post-revenue companies generating a profit and responding to critical challenges within Education, Food Systems, Environment, Health, and Urban Revitalization. It is focused on businesses based in the U.S. and is particularly interested in plans for the Southeast Michigan/Detroit area.

*'''Venture Michigan Fund'''

= University Technology Transfer Functions =

= Conclusion =

Across U-M, more than '''1,500 students''' participated in the '''more than 100 courses''' offered at U-M related to entrepreneurship. '''More than 5,000 students''' participated in entrepreneurship activities in 2010-11, in classes, competitions, public events and more. One survey showed more than '''15 percent of incoming freshmen had started a business''' before enrolling. With over 15 different entrepreneurship departments, from Engineering to Public Health, students have access to a wide variety of resources to help them pursue their entrepreneurial endeavors.

In addition to investments in human capital, U-M also continues to invest in infrastructure. The '''North Campus Research Complex''', a two million square foot array of office and laboratory space, was acquired in 2009. The complex, formerly a Pfizer R&D center, houses the Venture Accelerator and serves as a locus for many of the university’s economic development efforts.

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