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University of South Florida
Polytechnic
3433 Winter Lake Road
Lakeland, FL 33803
(863) 667-7077
Fax (863) 667-7097
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Contact:
Tom Hagerty
(863)
667-7077
University, students and local businesses work together to foster entrepreneurial skills
Entrepreneurship Program Director
Steve Budd
LAKELAND,
FL (June 25, 2007) - “For an entrepreneur, good ideas are a dime a dozen,” says Steve Budd. “The challenge is how to turn a good idea into a successful business.”
As director of the new University of South Florida Lakeland Entrepreneurship Program, and adjunct professor in the College of Business, Budd is developing an interdisciplinary undergraduate program that he calls “a blend of academic and economic development with an emphasis on applied learning.”
The Entrepreneurship Program offers all USF Lakeland students the opportunity for education and training in successful opportunity recognition and development, technology and marketing assessment, technology commercialization, new venture formation and new venture financing. "As the program develops in the future, it will work closely with local businesses to generate class projects, create student practicums/internships, and identify guest speakers"
“The goal is to create a win-win-win among USF Lakeland, its students and the local community,” says Budd. “The Entrepreneurship Program supports USF Lakeland’s focus on improving economic development for the region by educating and training entrepreneurially oriented individuals. Our unique undergraduate program will improve innovation, creativity and productivity for students and local businesses.”
In the Spring 2007 semester Budd taught the program’s first class, Entrepreneurship and Small Business Management. It provides an overview of the basic concepts of entrepreneurship, focusing on the nature, environment, risks and rewards of forming new ventures.
“The course encourages students from various backgrounds to interact, thus introducing them to varied sources of innovation and venture creation while appreciating the discipline required in starting up a venture,” says Budd. “I aim to help students develop a toolbox so they can apply learning and succeed.”
Applied course projects and case studies augment and reinforce the real-world application of academic concepts. The course also lets students know they have the career option of being an entrepreneur (or an “intrapreneur” in a corporate environment).
“It’s a great class!” says student Nicole Fisher. “You learn a lot about businesses and study real life cases, which are very eye opening.”
“Our new Entrepreneurship Program serves as an excellent model for USF Lakeland’s polytechnic vision,” says Dr. Judith Ponticell, associate vice president for academic affairs. “Students benefit from hands-on learning, using applied research to produce practical knowledge. Our graduates in turn will benefit the community by using their knowledge to sustain the region’s economic vision.”
The Entrepreneurship Program has had positive reactions from students and the community, and Budd works to make sure the program meets their needs.
“I’m talking and listening to people in the community, and I want to make this program very user-driven. This is such a close-knit community, which has made my job easier. Everyone is so accessible, both at USF Lakeland and in the community.
“And USF Lakeland’s non-traditional students and the perspectives they bring are great for the entrepreneurship program,” says Budd. ” Working with them is lots of fun. It keeps me involved and current.” Students in the Entrepreneurship Program learn by strategically looking at issues. Last semester, Budd’s students did seven feasibility analyses for potential businesses, including a family entertainment center, a medical practice and a wedding planner. His summer class is working on six similar hands-on projects.
“The class gave me hope for not just now, but for my future,” says student Janette McDonald. “I learned about so many exciting tools. I learned academic and hands-on knowledge that students rarely get in a ‘regular classroom setting.’”
Jana Wiggins, CEO of Document Advantage Corporation, says “I could not ask for a better mentor/advisor than Steve Budd. He has been a mentor to us and has taught, as well as assisted, us in performing key activities related to investment funding, financial modeling and board structuring, just to name a few.
“Steve’s expertise encompasses the multitude of areas that an emerging company needs to learn as it evolves. He has the ability to look at each new challenge from many angles in order to coach us through what is needed for the various opportunities. Steve is a key part of our team and I am very grateful to have access to him and the expertise he brings to the table.”
Budd came to USF Lakeland last year after spending 10 years with the Center for Entrepreneurship at USF Tampa. The next new course offering will be "Business Planning", which will be taught Spring 2008 semester. Potential future course topics at USF Lakeland include field projects/practicums, entrepreneurial marketing, entrepreneurial finance, entrepreneurial management, entrepreneurial leadership, principles of intellectual property and new product development.
"My challenge is to not just apply what worked in Tampa. I want to focus instead on building something USF Lakeland can own – something special that fits with our mission and our community. I am very grateful to the leadership at USF Lakeland, especially Dr. Judith Ponticell, for giving me this wonderful opportunity.“
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