$40,000 contest open to student entrepreneurs

Source: The Saluki Times

June 8, 2011
By Christi Mathis 06/08/2011 14:01:58


CARBONDALE, Ill. -- Southern Illinois University Carbondale is launching its first student entrepreneurship competition, offering winners a share of $40,000 in cash to help them start businesses in Southern Illinois.

Collegiate CampCEO 2011-Saluki Operation Bootstrap is a unique event bringing together the inaugural entrepreneurship contest with a new college incarnation of the popular CampCEO and the Operation Bootstrap entrepreneurship experience. This unique experience offers University students the opportunity to brainstorm, innovate, study and plan real-world businesses and present their proposals for business experts to judge. Then, through the infusion of seed capital and technical support, the program empowers students to launch their business ventures in Southern Illinois.

“This is a great opportunity for our students to jump-start successful careers in business,” Chancellor Rita Cheng said. “When you combine their talents and creativity with the mentoring provided by our professional staff and local entrepreneurs, the outcome can only be positive for our students and our region’s economy.”

The eligibility criteria to participate in Collegiate Camp CEO 2011-Saluki Operation Bootstrap are simple. You must be an SIUC student, enrolled for the fall 2011 semester. You must be a U.S. citizen and must plan to start and operate a business in one of the 16 Delta Region counties of Southern Illinois. And, you must be available to participate in the entrepreneurship training and graduation/awards ceremony, set for Aug. 15-19 and Aug. 23, respectively.

Essentially, the program works like this. The application period opens June 13 and students can apply to participate until 5 p.m. on July 22 by submitting an application online at www.surveymonkey.com/s/salukibootstrap2011. For more information, call 618/453-3805 or email startbiz@siu.edu. Plans call for selection of up to 25 participants and selection and notification of successful applicants will occur no later than Aug. 5.

Then, the professional staff of the SIUC Entrepreneurship and Business Development Unit will lead participants in a weeklong entrepreneurship training Aug. 15-19 on the SIUC campus. Each morning from 9 a.m. to noon there will be training with a specialized curriculum. Then, following the lunch break, there will be intense coaching sessions from 1 to 4 p.m., bringing together the students with the entrepreneurship staff and regional business mentors.

Camp participants will show what they’ve learned on Aug. 19. That afternoon they will make “pitch” presentations highlighting their business proposals for a group of entrepreneurs from the region. A graduation and awards ceremony for program participants will wrap things up on Aug. 23 from 5 to 7 p.m. That evening, $40,000 in cash awards and nearly $5,000 in professional consulting services are at stake.

The first-place winner will claim a $7,500 cash award to leverage in securing additional start-up monies. The overall winner will also receive $2,500 in software, books and professional consulting services, bringing the value of their grand prize to $10,000.

Second place nets a $5,000 cash prize along with $1,500 in software, books and professional consulting. In addition, nine program graduates will each win $3,000. All student entrepreneurs who successfully complete the program will receive certificates along with a package of business planning software and entrepreneurship books valued at more than $100.

That’s not all, though. The entrepreneurship and business development staff at SIUC is offering continuing services to program graduates, including free consulting, evaluation, networking opportunities, and professional development assistance throughout the launch and operation of their business ventures.

“SIUC is joining the ranks of prestigious universities by hosting an entrepreneurship contest for students and we can actually award them seed capital funds to start their business or to leverage into a more substantial loan or investment capital. We are working to help stop the ‘brain drain’ and keep young, bright, talented graduates right here in Southern Illinois so they can have a positive impact on our regional economy,” said Emily Carter, director of entrepreneurship and business development for SIUC.

This new program adapts for SIUC students two popular and successful programs. In the past decade CampCEO has drawn scores of youths from a wide region for its intensive, nationally recognized youth entrepreneurship experience and this new program for SIUC students incorporates business development, training, financial advice, marketing concepts and other components of the program.

Collegiate CampCEO 2011-Saluki Operation Bootstrap also brings in the principles of the successful Operation Bootstrap, an entrepreneurship partnership between SIUC and the Delta Regional Authority. The Delta region includes Alexander, Pulaski, Massac, Pope, Johnson, Hardin, Union, Jackson, Williamson, Randolph, Perry, Franklin, Hamilton, White, Gallatin and Saline counties.

“Starting a business and earning a degree wasn’t easy. I used every bit of advice I could get, including all of the help available at the Small Business Development Center. A student entrepreneurship training program would have been invaluable at the time when I went through all the steps necessary to launch my company. Saluki Operation Bootstrap greatly enhances a college education, especially if you possess the entrepreneurial spirit,” said Ben Weinberger, SIUC alumnus and CEO of Digitalsmiths, a multi-million dollar digital media business that began in Weinberger’s college residence hall room with help from other Salukis.

The Delta Regional Authority, through grants, is funding Collegiate CampCEO 2011-Saluki Operation Bootstrap in keeping with the organization’s mission of enhancing economic development and improving the quality of life for Southern Illinoisans.

For additional information, contact SIUC Entrepreneurship and Business Development by calling 618/453-3805 or send an email to startbiz@siu.edu.

Saluki Concept Fund will benefit researchers

Saluki Times
March 16, 2011
By Tim Crosby

CARBONDALE, Ill. -- Making the leap from the drawing board to the marketplace is sometimes the toughest hurdle for new technologies. A new program at Southern Illinois University Carbondale aims to help researchers meet that challenge.

The Saluki Concept Fund will provide up to $20,000 to SIUC researchers to help them nurture new technologies through the sometimes-difficult early stages. The funding will support short-term, concept-proving research that reveals the invention’s potential, helping clear the way for commercialization.

The Saluki Concept Fund is a cooperative effort between the SIUC Office of the Vice Chancellor for Research and the University’s Technology Transfer Program. John A. Koropchak, vice chancellor for research and dean of the SIUC graduate school, said the fund will help the University carry out its missions as a research institution, as well as support the economy.

“Research universities are often called economic engines, in part because some of the research done by the faculty and students can result in new businesses and jobs based on the innovations of that research,” Koropchak said. “However, the process of converting an innovation to a business is almost always resource-limited, making this transition very challenging and often frustrating.”

Koropchak said such an approach has succeeded at other institutions and that he believes it will yield results at SIUC, as well.

“This proof-of-concept program, that has been shown to work at prominent institutions nationwide, is intended to assist this difficult stage and increase the probability that a successful business results,” he said.

SIUC faculty and staff are eligible for the funding, which can last up to one year. To apply, inventors must be listed as an inventor on the associated invention disclosure. A review committee headed by the associate vice chancellor for research and with representatives from the Office of the Vice Chancellor for Research, the Office of Economic and Regional Development and the Technology Transfer Program will make recommendations for awards based on scientific and business factors. Final decisions are made by the vice chancellor for research.

Grant-seekers can submit applications anytime during the year.

The funding will bridge the area left by a dearth of government funding, which usually does not cover early, “concept-proving” work on new inventions. But funding new technologies at that point can often make a critical difference in their ultimate development, said Jeff Myers, senior technology transfer specialist at SIUC.

“It can be common that technologies need an incremental step to become licensed or commercialized, but can’t get funding from traditional funding sources -- the National Science Foundation or the National Institutes for Health or agencies like that,” Myers said. “Programs like these fill that gap, and they’re growing in popularity.”

For more information, visit http://www.techtransfer.siuc.edu/poc/ or call or contact Myers at jmyers@siu.edu or by calling618-453-4511.

Firm picked for elite entrepreneurial program

The Saluki Times
February 25, 2011
By Christi Mathis 02/25/2011 15:08:18

CARBONDALE, Ill. -- A business conceived by Southern Illinois University Carbondale students and launched with help from the University’s Office of Economic and Regional Development is the only downstate company selected recently as one of 11 new participants in the Chicagoland Entrepreneurial Center’s CAP 20 program.

Rover Enterprises, LLC, is a mobile marketing company based in Carbondale. The business is among an elite group chosen for the Chicago Chamber of Commerce’s CEC premier mentoring program. CAP 20 is a component of the Cluster Acceleration Program that fosters growth in emerging companies by connecting them with resources statewide via educational conferences, networking forums and individualized advisory services.

Cap 20 businesses receive resources and mentorship to help them achieve exceptional growth during a five-year period, with the ultimate goal of stimulating job growth in Illinois. Selection for the program is competitive, and during the next 24 months participants will get mentoring and planning assistance as well as unique business exposure opportunities. According to the CAP 20 website (http://www.chicagolandec.org/content/what-we-do/cluster-acceleration-program.asp), companies must have the potential to reach $10 million in annual revenues during the next five years in order to qualify for the program. Rover is the only company south of Peoria selected for the program.

Rover Enterprises, which launched in 2009, offers RoverCard, a unique business discount card. Participating businesses pay nothing when featured on the card, which resembles a credit card. Purchasers pay $20 for the membership card, giving them exclusive access to money-saving deals from dozens of businesses in the region. Included is a “deal of the day” they learn about via a text message. The featured business gets a banner ad on the Rover website and a special RoverCard 18-foot inflatable balloon to draw attention to their business that day. College students are the primary card buyers.

“Everything Rover does is designed to create a mutually beneficial relationship between college students and small business. We believe that mobile technology is the best way to accomplish this,” said Michael Rzeznik, chief technology officer for Rover Enterprises.

The company founders were all SIUC students when the company began in 2009. They include Rantoul natives Brad Miller, a management alumnus, finance major Joshua Freeman and Mike Philip, an information systems technologies major from Wheaton. Instrumental in helping the fledgling company get its footing was the classroom instruction at SIUC, as well as assistance from the Office of Economic and Regional Development (OERD) and the College of Business’ Center for Innovation.

“The Small Business Development Center, Small Business Incubator and the Center for Innovation at SIUC have been an integral part of developing Rover Enterprises to what it is today and will continue to be a great resource to Rover in the years to come,” said Maryon King, director of the Center for Innovation and associate professor of marketing in the College of Business.

Philip graduated in December 2009 from Operation Bootstrap, a collaborative program from the OERD and the Delta Regional Authority to help new or potential businesses. The company even won $3,000 in start-up funding after successfully completing the program. And that’s just part of the valuable assistance from SIUC.

“During the inception of Rover Enterprises, the Small Business Development Center helped with initial market research, business strategies, growth development and more. The Center for Innovation has been instrumental in recruiting and sponsoring interns for Rover Enterprises,” King said.

Rover Enterprises is currently a tenant in the Small Business Incubator at SIUC, located at 150 E. Pleasant Hill Road, Suite 207, in Carbondale. In addition to continuing expansion into other university markets, Rover just launched its new college marketing service, RoverDawg. RoverDawg is actually a free mobile phone application allowing users to log onto www.roverdawg.com from their mobile phones, select an online coupon and simply display it at a participating merchant to get the special deal.

“RoverDawg is the culmination of everything we have learned over the past year and a half. It is something we are truly proud of and we encourage everyone to give it a try,” said Mike Philip, chief executive officer for Rover Enterprises.

And as Rover Enterprises continues to grow, it is looking for more help to make it all happen.

“A company is only as strong as the people it employs. We are continuing to see more of the brightest minds at SIUC as we build our management team to help us compete in the global market. We are seeking talented business, marketing, graphic design, programming and journalism students to help with Rover’s rapid expansion as they gain valuable experience,” Philip said.

For more information about Rover Enterprises or to seek a spot on the company’s management team, e-mail contact@roverenterprise.com or call 630/847-8378. Additional information is also online at www.RoverEnterprise.com.

Free seminar to focus on equity-based licensing

Saluki Times

February 14, 2011
By Christi Mathis 02/14/2011 14:35:20

CARBONDALE, Ill. -- Registration is now ongoing for the free seminar “Equity-Based Licensing for Technology Start-up Companies” at Southern Illinois University Carbondale on Friday, Feb. 18.

The seminar kicks off with a box lunch at 11:30 a.m. and the presentation runs from noon to 1:30 p.m. The meeting will be at the Dunn-Richmond Economic Development Center, located at 150 E. Pleasant Hill Road in Carbondale. Featured topics include an overview of equity, percent ownership and dilution and implementing agreements.

David L. Gulley, assistant vice chancellor for research at the University of Illinois-Chicago, will be the speaker. He has more than 20 years of experience in innovation-based economic development and holds various positions on industry association leadership committees and in organizations at the university, in Chicago, and at the state and national levels. He also has international experience as an adviser for governments, non-profit organizations and universities in France, Israel, Canada, Chile, Poland, Japan, Denmark and other countries. He is very involved with academic-industry collaborative efforts, research, science initiatives and technology transfer and will share his expertise during the seminar.

Gulley is a double alumnus of SIUC, earning his doctorate in higher education and his bachelor’s degree in political science at the University. He also holds a master’s degree in education from Virginia Tech.

There is no charge to attend the seminar but seating is limited and you must pre-register. To sign up, call 618/453-3427 or e-mail kharfst@biz.siu.edu.

Sponsors for the seminar are the University’s Small Business Incubator, the SIUC Vice Chancellor for Research/Technology Transfer Program, the Southern Illinois Research Park and the Illinois Small Business Development Center at SIUC.

Jackson Growth Alliance Announces Small Business Loan Program

Jackson Growth Alliance
News Release
February 9, 2011

A low interest loan program for Jackson County businesses is being offered through Jackson Growth Alliance. For the first time, Jackson County businesses have access to the USDA Rural Development’s Intermediary Relending Program (IRP) designed to assist new and existing businesses in rural areas.

Jackson Growth Alliance has partnered with the Southern Illinois Coal Belt Champion Community Corporation (SICBCC) to expand the Rural Development loan program into Jackson County. Through this partnership, over $1 million in loan funds are now available to Jackson County businesses.

The IRP program offers loans to qualified businesses with a maximum of $150,000 and a maximum of 75% of the project cost. The interest rate is 5% and the term varies depending upon the activity financed, with the maximum being 15 years. All loans will be fully secured with traditional forms of collateral.

Eligible uses of the IRP loan proceeds include real estate acquisition, construction, machinery and equipment, working capital and inventory. Businesses participating in the program will be required to demonstrate their ability to create or retain one full time equivalent employee per $15,000 of loan funds within the first two years of the loan.

"The Rural Development loan program has been a missing economic development tool in Jackson County," said Jeff Doherty, Executive Director of Jackson Growth Alliance. "Jackson County businesses now have the opportunity to benefit from the low interest loan program to help their businesses grow."

Parties interested in learning more about the Rural Development IRP Loan Program may contact Jeff Doherty, Executive Director, Jackson Growth Alliance at 618-713-9210 or jdoherty@jacksonbiz.org.

New Saluki Concept Fund for scale-up research projects

The following appeared in the SIUC Technology Transfer December 2010 Newsletter. To read the newsletter and to subscribe for future issues, visit http://www.techtransfer.siuc.edu/signup.html. Or, visit the Saluki Concept Fund webpage.

A new fund will help Southern Illinois University Carbondale researchers and inventors make the leap from idea to commercialization.

The Saluki Concept Fund, a new venture of SIUC’s Office of the Vice Chancellor for Research and the Technology Transfer Program of the Office of Research Development and Administration will offer individual awards of up to $20,000 to support short-term projects designed to show that an invention has potential for commercialization licensing or as the basis for a start-up company. These projects – called proof-of-concept studies – are often needed to show potential licensees or investors that an invention, idea or technology will work in an applied setting.

Studies of this kind are normally not funded by federal, state or other traditional funding sources. The Saluki Concept Fund will fill in the gap, supporting projects of up to one year that aim to “scale-up” research or show marketing and licensing viabilities.

“Research universities like SIUC are counted on to be economic engines, in part from new companies that spin off from the patents invented there,” John A. Koropchak, vice chancellor for research and graduate dean, explained. “Getting from a patent to a business has many challenges including finding the means to construct a prototype or conduct market research. This program is intended to bridge that gap and increase the likelihood that the best ideas can be successfully developed to create new jobs in southern Illinois.”

Jeff Myers, senior technology transfer specialist at SIUC said similar programs have been successfully implemented at other research institutions, and SIUC’s program has been under consideration for some time.

“The timing is right for this program,” Myers said. “We have an increasing number of innovations that could benefit right away from this new fund.”

All SIUC faculty and staff are eligible for proof-of-concept funding, provided the applicant is listed as the inventor on the required invention disclosure. All awards are subject to the availability of funds.

Information on the fund is available from the University’s Technology Transfer Program at (618) 453-4511 or online at http://techtransfer.siuc.edu/poc/.

New SIUC Startup Activity

From the SIUC Technology Transfer Success Stories Wegpage

SIUC's Dr. Ken Anderson and colleagues have established Thermaquatica, Inc, a start-up company based upon their research in the Department of Geology, College of Science. Thermaquatica is working to commercialize green technology for the production of chemical feedstocks from coal and other organics. The company recently obtained the rights from the University to develop the technology. The research was funded by a grant from the Illinois Clean Coal Institute. For more information contact him directly at kanderson@thermaquatica.com or via SIUC Tech Transfer at techtran@siu.edu.