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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 presidentWith over 15 different, Mary Sue Colemanself-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 heightspursue their entrepreneurial goals.
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= Overview—Leadership & Advocacy<br/> =
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.
<br/>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.
*'''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: <br/> ===
*'''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:<br/> =
*'''Victors for Michigan ''' - A fundraising campaign undertaken by e<span style="color: rgb(85, 85, 85); font-family: Helvetica, Arial, sans-serif; font-size: 13px; line-height: 16.25px;">very unit at all three U-M campuses to focus on some or all of the three priorities:</span> • **Student support<br/>• **Engaged learning<br/>• **Bold ideas *Michigan Venture Capital Association
*Wolverine '''Michigan Venture Fund -Capital Association <span style="color: rgb(77, 77, 77); font-family: Arial, Helvetica, sans-serif; font-size: 13px;">The $7 million dollar </span>[http://wolverineventurefund.com/ Wolverine Venture Fund]<span style="color: rgb(77, 77, 77); font-family: Arial, Helvetica, sans-serif; font-size: 13px;"> 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.</span>'
*Zell Lurie Commericialization '''Wolverine Venture Fund ''' - <span style="color: rgb(77, 77, 77); font-family: Arial, Helvetica, sans-serif; font-size: 13px;">The$7 million dollar </span>[http://www.zlcfund.com/ Zell Lurie Commercialization Wolverine Venture Fund]<span style="color: rgb(77, 77, 77); font-family: Arial, Helvetica, sans-serif; font-size: 13px;"> invests primarily in early stage companies. The Fund is a pre-seed investment fund established to identify and accelerate the commercialization one of great ideas generated within the University community and the surrounding area. Zell Lurie Fund participants (Zell Lurie Fellows) evaluate and invest world's first VC funds where students are partners in early stage entrepreneurial opportunities to learn about the commercialization investment decision-making process and how to be a seed investor. The Zell Lurie Fund teams, focused on healthcare, technology, consumer's students members seek, screen and negotiate investments and develop significant experience in these areas - and cleantech, work closely in working with founders, VCs and 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 An advisory board comprised of individuals who have been successful professional venture capitalists and entrepreneurs, and approximately 28 MBA students participate in developing earlymanaging this multi-stage companeis, markets and technologiesmillion dollar fund.</span>
*UM Social Venture '''Zell Lurie Commericialization Fund ''' - <span style="color: rgb(77, 77, 77); font-family: Arial, Helvetica, sans-serif; font-size: 13px;">Launched in September of 2009, theThe </span>[http://www.umsocialventure.com/ Social Venture Zell Lurie Commercialization Fund]<span style="color: rgb(77, 77, 77); font-family: Arial, Helvetica, sans-serif; font-size: 13px;"> is the first studenta pre-led seed investment fund established to identify and accelerate the commercialization of its kind 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 first commercialization process and how to close be a deal among other such funds that have launchedseed investor. The Zell Lurie Fund focuses exclusively teams, focused on for-profit social enterprises existing independently or within the legal structure of a pre-existing organization (LC3, 501c3healthcare, LLC, etc.). It invests $50technology,000-$250consumer,000 in pre-revenue and post-revenue companies generating a profit and responding to critical challenges within Education, Food Systems, Environmentcleantech, Healthwork closely with founders, entrepreneurs and Urban Revitalization. It is focused on businesses based with the University of Michigan's Office of Technology Transfer in the Ucourse of their work.S. and The Fund is particularly interested also supported by an advisory board comprised of individuals who have been successful in plans for the Southeast Michigan/Detroit areadeveloping early-stage companeis, markets and technologies.</span> *Venture Michigan Fund
*'''UM Social Venture Fund''' - <span style="color: rgb(77, 77, 77); font-family: Arial, Helvetica, sans-serif; font-size: 13px;">Launched in September of 2009, the </span>Social Venture Fund<span style="color: rgb(77, 77, 77); font-family: Arial, Helvetica, sans-serif; font-size: 13px;"> 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.</span>
*'''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.
[[Amanda Ejups|Amanda Ejups]]
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