Description
This brief outline amplify young entrepreneur panel were all highlights from the fall.
August 2014
A Letter from the Director
A few days ago, I watched as the young owners of the four Lorentzen Hatchery business
startups presented to a packed room at 1 Million Cups. Thanks to the generosity of John
Lorentzen they have had the opportunity to focus on their entrepreneurial dreams this
summer. Geoff Wood and Tom Swartwood graciously and consistently mentored them as they
tackled the challenges of a business startup.
This year the Centers have focused on growth, community engagement, and reaching beyond
the College of Business and Public Administration to engage students in other disciplines.
Project Bulldog, the Women’s Startup Boot Camp, and a young entrepreneur panel were all
highlights from the fall. Spring semester began as we hosted the inaugural Best Practices in
Entrepreneurship Education Workshop for Iowa private universities and colleges, continued
with the Pappajohn Student Business Plan Competition, and culminated in a new partnership
with Ascent to provide our first multi-campus Women’s Startup Boot Camp.
It is with gratitude I would like to thank my colleagues, Tom Swartwood and Stephanie Cardwell
for all their dedication to entrepreneurship at Drake, and John Pappajohn and Bill and Jean
Buchanan for continuing to believe in what we are doing at Drake.
As the new academic year is about to begin our goal is to continue to identify and strategically
pursue opportunities for growth, community engagement and reaching beyond the doors of
Aliber to engage students across campus. I would be delighted to have a cup of coffee and tell
you more but in the meantime please read on.
Best regards,
Debra Bishop, Ph.D.
Debra S. Bishop, Ph.D.
Director
303 Aliber Hall
[email protected]
515-271-3818
Thomas M. Swartwood, J.D.
Assistant Director
301 Aliber Hall
[email protected]
515-491-6561
Stephanie Cardwell
Administrative Assistant
302 Aliber Hall
[email protected]
515-271-3071
Drake University • 2507 University Avenue • Des Moines, Iowa 50311 • 800-44-DRAKE
•http://www.drake.edu/ •https://twitter.com/EshipDrake •https://www.facebook.com/DrakeEntrepreneurship •
ADVISORY COMMITTEE
We would like to acknowledge and thank the members of the Entrepreneurship Centers’ Advisory
Committee for their continued support and contributions to the Centers:
Jason Berger, North American Minerals
William Buchanan, United Life Insurance Company
Renae Chesnut, Drake University
Tej Dhawan, Nestmint Founders Fund
Meg Fisher, Lincoln&Lexi
Alexander Grgurich, Fresk Interactive
Emily Harris, Davis Brown
Lynn Hicks, Des Moines Register
John LaMarche, Venturenet
Justin Schoen, eComegy
Camille Urban, BrownWinick
Connie Wimer, Business Record
We met with our Advisory Committee twice this year, once in October and again in February.
Additionally, members of the committee, both individually and as a group, have provided invaluable
input into the development of a strategic plan for the Centers.
In particular, we would like to thank Jason Berger for spending a significant amount time with us and
Dr. Bradley Meyer (Drake University) to develop and refine a strategic plan for the Centers. Jason
facilitated an outstanding strategic planning session at his office that both reaffirmed our mission and
guided us in refining our goals for moving forward.
ACADEMICS
Thanks to the contributions from the Buchanans and Mr. Pappajohn, we continue to offer both an
Entrepreneurship Major, Minor, and graduate course. Center staff crafted and taught the following
courses in the 2013-2014 academic year:
? Business 198: Service Learning in Uganda
? Business 298: Entrepreneurship and Leading an Entrepreneurial Venture
? Entrepreneurship 001: Profiles in Entrepreneurship
? Entrepreneurship 101: Introduction to Entrepreneurship
? Entrepreneurship 150: Entrepreneurship Business Model
? Entrepreneurship 190: Creating a Company
? First Year Seminar 048: Stories of Business
? Health Science 055: Issues in Health Sciences. This interdisciplinary course introduces students
to entrepreneurial leadership and how it can be applied to activities, project and careers in the
health sciences. Students gain an understanding of the roles of entrepreneurship and leadership
in their professional careers. Students also learn basic management skills necessary to evaluate
and pursue new product opportunities in any health-related setting. Course includes a project in
which students will use the business planning process to identify and evaluate a new product in
the health sciences.
? Management 120: Management of Operations
? Management 160: Planning/Control of Operations
CourseFocus:
Business003:TheBusinessProfession
Earlyinthefallsemester,werecruitedeightyoungcommunityentrepreneurstospeakaspartof
apanelinDeanBlum’sBusiness003class.Theyoungentrepreneurs,somecontemporariesof
thestudents,wereinvitedtosharetheirstorieswiththeclassprovidinginsighttohelpthem
advanceintheircareerpath.
Thespeakerswere:
? Willow Bauer, The Palmer Group
? Derian Baugh, Men’s Style Lab
? Johanna Determann, Hello Wellness
? Meg Fisher, Lincoln&Lexi
? Jill Haverkamp, On Pitch
? Torey Maerz, Rocket Referrals
? Leslie Sabick, GRN Designs
? Justin Schoen, eComegy
STUDENT ORGANIZATIONS AND COMPETITIONS
Center staff are committed to ensuring the success of students and continue to work closely with and
serve as advisors to: Delta Sigma Pi, a professional fraternity organized to foster the study of business in
universities, and promote closer affiliation between the commercial world and students of commerce,
and to further a higher standard of commercial ethics and culture and the civic and commercial welfare
of the community; Delta Rx Institute, an organization that serves to promote a philosophy of life
centered on “entrepreneurial leadership” in pharmacy; and members of Enactus, community of
student, academic and business leaders committed to using the power of entrepreneurial action to
transform lives and shape a better more sustainable world. Additionally, we are committed to working
with the local community, helping one small business on process improvement and another on global
supply chain expansion.
DeltaRx
This spring marked the 7th annual DELTA Rx Next Top Entrepreneur Competition. Team participants
represented a wide variety of majors, including pharmacy to business to health sciences.
The judges, representing both business and healthcare fields, were faced with the tough decision of
selecting the top presentations each round, as well as which teams would move on to the next round.
Three winners were selected by the judging panel and awarded cash prizes of $1,500, $1,000 and $500,
respectively.
? 1
st
Place – Neel Patel and Scott Morrett
? 2
nd
Place – Holly Thurauf and Natalie Gadbois
? 3
rd
Place – Anna Shields and Shea O'Brien
Neel is an alum of our program, having sucessfully completed the Entrepreneurship Major last year
while pursuing his pharmacy degree.
Project Bulldog
In October 2013, Drake University Enactus was proud to hold their first “Project Bulldog” competition,
inspired by ABC’s Shark Tank. Drake University students were invited to pitch their innovative ideas to a
panel of entrepreneurs for a chance to win $500, thanks to a donation from the Iowa Expat Trust.
For the inaugural event, seven student teams pitched their innovative business ideas to five Des Moines
entrepreneurs and venture capitalists: Dan Shipton of BitMethod and Change; John Jackovin of Bawte;
Milt Milloy of FxRedux Solutions; Aaron Hoffman of StoneFinch; and John LaMarche of VentureNet.
After a morning full of 10-minute pitches, judges awarded prizes as follows:
? 1
st
place – AP Lumina Brake System, Naren Bhojwani, College of Business & Public
Administration
? 2
nd
place – Motivus App, Jay Smith, College of Business & Public Administration, and Kassandra
Chesire, College of Business & Public Administration
? 3
rd
place – ALS Shower Dispensary System, Sarah Martin, Arts & Sciences
There was an additional award for Audience Choice, and after votes were tallied, this award went to
Syed Afiful Hazazi Syed Ghazi (College of Business & Public Administration) and Chang Sun (School of
Journalism) for the Break It! Warehouse.
Pappajohn New Venture Student Business Plan Competition
Sponsored by John Pappajohn and Equity Dynamics Inc., the Pappajohn New Venture Student Business
Plan Competition is intended for college and university students in Iowa who have an interest in starting
their own business. Plans are judged based on the content and viability of the plan.
In the Drake regional competition, seven plans were presented to the judges:
? Drive 'N Pay – Jackson Dodge & Elizabeth Roque, Drake University
? Politically Connected – Futas & Howard, LLP, Travis Futas & Eric Howard, Drake University Law
School
? Mentoring Creations – Sarah Dellea, Theresa Kelly, Tabetha Williams, Drake University
? NFuze – Colin Anderson, Aaron Hawley, James Loffredo, Alberto Munoz, Drake University
? Referral Buddy – Naren Bhojwani, Travis Ormsby, Dylan Verburgt, Drake University
? Self Serve Suites – Megan Armstrong & Alyssa Mougin, Drake University
? SoundWave Violins – Neshama Breshears, Shaynee Breshears, Ethan Pitt, Graceland University
The regional winners were Drive ‘N Pay, Mentoring Creations, and Self Serve Suites who were selected
to go on to the 2014 Statewide Competition. Finalists presented their business plans to John Pappajohn
– president of Equity Dynamics, Inc., Des Moines, and founder of the five John Pappajohn
Entrepreneurial Centers in Iowa – and two of his senior staff members, Dan Storck and Matt Kinley.
While none of the Drake Students took the top prize this year, we are proud of their dedication and how
enterprising all the participants were.
2014 Pappajohn New Venture Student Business Plan regional finalists
Lorentzen Hatchery
Summer 2014 marked the first year of the Lorentzen New Venture Student Hatchery. The Lorentzen
Hatchery is a unique program aimed at fostering student startups where students get paid while
working on their startup. This program is open to all Drake University students who are willing to
dedicate a summer of full-time commitment toward meeting their project’s goals and fulfilling program
benchmarks, including regular meetings with the program director, mentors, participating in training
and other events as required. The 2014 participants are:
? AP Lumina – Naren Bhojwani and Benjamin Mullis
? Frank's Fixies – Aaron Hermsen and Joaquin Valdes
? Reflex Fight Gear – Kevin Clark
? Opportunity On Deck – Dylan DeClerck
We would like to extend a special thanks to Geoff Wood (Startup Genome, Gravitate, and Welch
Avenue) for serving as the Hatchery’s Program Director this year.
On Friday, October 3, Hatchery participants will be presenting on their respective businesses to a panel
including Mr. Lorentzen.
2014 Lorentzen Hatchery participants and Program Director, Geoff Wood
Project Management Study Group
In the spring term, a review group was formed to help students who were interested in pursuing Project
Management Institute’s (PMI) Certified Associate in Project Management (CAPM) certification. Students met
throughout the term to study and prepare for the exam. Thanks to the help of Norm Veen, past president,
Central Iowa Chapter PMI, seven students had the opportunity to receive grants for successfully completing
the study group and passing the CAPM exam.
WORKING LOCALLY LOCAL WHILE KEEPING AN INTERNATIONAL FOCUS
We have continued our mission to provide an exceptional learning environment that prepares students
for meaningful personal lives, professional accomplishments, and responsible global citizenship through
service learning, as exemplified by our long-term relationship with colleagues at the Makerere
University Business School (MUBS) in Kampala, Uganda. Throughout the year, we have continued to
cultivate this relationship:
? Late in the academic year, a delegation from MUBS visited Drake.
? Students hosted a fundraiser night at Buffalo Wild Wings restaurant for the Kikiwanda Village
Medical Clinic.
? Students have also been working hard to collect computers and USB drives for City Secondary
School.
STRENGTHENING COMMUNITY AND PROFESSIONAL CONNECTIONS
As in previous years, we continue to be engaged with the Central Iowa entrepreneurship community as
well as academic and other professional organizations. During the year:
? We have collaborated with professionals in the local entrepreneurship and startup community,
bringing them into the classroom to guest lecture on entrepreneurship.
? We have participated in national conferences such as: United States Association for Small
Business and Entrepreneurship (USASBE); Production and Operations Management Society
(POMS); and Global Consortium of Entrepreneurship Centers (GCEC).
? To broaden the presence of the Centers, we have participated in numerous startup community
events, including hosting Google’s Get Your Business Online Week, and working with individual
entrepreneurs on planning.
? Startup Boot Camp for Women: In November 2013, we held our third Startup Boot Camp. In
June 2014, we partnered with Ascent Iowa to hold our largest Boot Camp yet. The June Boot
Camp joined participants in Des Moines with participants at Mount Mercy University in Cedar
Rapids. We continue to reach out to women through a series of workshops designed to help
women-owned businesses get off the ground. This year’s alumnae are looking to provide a wide
range of services including wellness, fitness, microfinance, catering, gourmet baking, personal
services, and consulting.
? Working with Drake’s marketing team and others, we have been promoting the community of
Des Moines and the Entrepreneurship. Entrepreneurship at Drake has been featured several
times:
o Today Show segment, Des Moines, where regular folks can live the rich life.http://www.today.com/money/des-moines-where-regular-folks-can-live-rich-life-
2D11965288
o WHO-TV Beauty Bar segmenthttp://whotv.com/2014/03/05/beauty-bar-new-type-of-salon-
in-metro/
o Insight on Business radiohttp://insightadvertising.typepad.com/weblog/2013/11/wowstunning-and-thank-you.html
o Des Moines register article on sibling businesseshttp://www.desmoinesregister.com/apps/pbcs.dll/article?AID=2014301260018
o Times Delphic article on the Today Show segmenthttp://timesdelphic.com/2014/02/06/professor-featured-on-today
o Times Delphic article on the Pappajohn Student Business Plan Competitionhttp://timesdelphic.com/2014/02/20/students-create-own-businesses
o Times Delphic article on Music Universityhttp://timesdelphic.com/2013/10/10/music-
conference-draws-high-profile-artists
BEST PRACTICES IN ENTREPRENEURSHIP EDUCATION WORKSHOP
In February, we hosted the first Best Practices in Entrepreneurship Education Workshop for many of Iowa’s
private universities and colleges. We had participants from 12 institutions join us to discuss issues that
entrepreneurship educators face. The majority of participants are interested in continuing these
conversations in the future and we hope to see a second workshop in late winter or early spring of 2015.
Participants included:
? Briar Cliff University – Judy Thompson
? Buena Vista University – Kihwan Kim
? Central College – Wade Steenhoek
? Coe College – Jay Chen
? Cornell College – Leon Tabak
? Dordt College – David Griffith
? Graceland University – Justin Akers
? Loras College – Ronald Collins
? Maharishi University – Scott Herriott
? Simpson College – Bob DeGraaff and Marilyn Mueller
? University of Missouri Kansas City – Tom Boozer and Tammy Broadus
? Wartburg College– Timothy Ewest, Scott Fulwiler, and Kacee Garner
LOOKING AHEAD
? Part-time position: John Walker will be joining us part-time this semester teaching Introduction to
Entrepreneurship, 101. Mr. Walker is currently President at TimberCreek, LLC, Managing Partner of
HelpTutor.me, and Core Development, Inc. Responsibilities include strategic positioning and
planning, capitalization strategies, financial & business modeling, and business plan development. He
has also been highly involved teaching Business Start Up and Entrepreneurship in central Iowa and
mentoring many entrepreneurial ventures. John obtained a B.S. from Iowa State University, and an
M.B.A. from the University of Iowa.
? Music University: October 4 & 5, 2014, we will be sponsoring the Des Moines Music Coalition’s next
Music University session.
? Startup Boot Camp for Women: We plan to work with Ascent to deliver additional sessions of the
Startup Boot Camp in late fall 2014 and late spring 2015.
picture from our June 2014 Startup Boot Camp
ABOUT THE CENTERS
The Buchanan Center for Entrepreneurial Leadership
The focus of the Buchanan Center is to provide curricular and co-curricular opportunities for our students.
This includes support of:
? Major in Entrepreneurial Management and minor in Entrepreneurship
? Entrepreneurship Week activities
? Entrepreneur in Residence
? Physical center infrastructure
? Service learning opportunities
? International entrepreneurship opportunities
Bill Buchanan, a 1957 Drake graduate in actuarial science, along with his wife, Jean, have given Drake
University a $3 million gift to establish the William M. and Jean M. Buchanan Center for Entrepreneurial
Leadership.
The Buchanans have hosted alumni receptions at their home and supported Drake students through the
Buchanan Endowed Scholarship, along with contributing to other new and continuing programs of the
University. Bill Buchanan also helped to create and support the Adams/Bowers Actuarial Education Center at
Drake.
Buchanan is chairman of Unified Life Insurance Co. in Overland Park, Kan., where he and his wife have a
second home, in addition to their Irving, Texas, residence. Unified Life Insurance Co. is privately owned by
Bill and Jean and their children and grandchildren. He is known for his entrepreneurialism and consulting
work and has organized, developed, and managed actuarial consulting companies in Texas, Missouri and
Kansas, which operate nationwide.
Thank you Buchanans for your continued support of entrepreneurship in Iowa and Drake University.
The Pappajohn Center for Entrepreneurship Outreach
The center was established in 1998 with generous funding from Mr. John Pappajohn. The function of the
Drake University Pappajohn Center is outreach oriented with much of the effort collaborative in nature. This
includes support of:
? Iowa Business Plan Competition – the annual state-wide competition for start-up businesses
? Iowa Student Business Plan Competition – held each spring
? Community outreach projects
? Physical center infrastructure
With the support and encouragement of Mr. Pappajohn, collaboration continues with the four other
Pappajohn Centers across the state of Iowa. Fall began with the announcement of the Iowa Business Plan
Competition winners. Winter started with our annual New Venture Business Plan Competition for college
students across the state of Iowa. Along the way, we had the opportunity to mentor aspiring entrepreneurs
on campus and in the community, teach workshops to small business owners and entrepreneurs, and
continue to develop a strong entrepreneurial network
With over 50 years of experience in entrepreneurial endeavors, John Pappajohn is one of the most
recognized and celebrated business leaders in and outside of the Midwest. Mr. Pappajohn has organized and
financed the John Pappajohn Entrepreneurial Centers at five different universities and colleges in the state of
Iowa for more than $30 million. These centers have helped create and launch over 1,000 new companies.
Thank you Mr. Pappajohn for your support of entrepreneurship on campus as well as across the state of
Iowa.
Lorentzen New Venture Hatchery
This is the inaugural year for the Lorentzen New Venture Hatchery. The Hatchery is a summer program
designed to help students gain an unprecedented opportunity to start their business while still in school,
under the mentorship of experienced entrepreneurs. As Hatchery participants, students receive stipends
to cover housing, startup costs, and other expenses but the program provides more. Participation in the
Hatchery is an internship-plus: stipends are comparable to what students would receive if working at an
outside firm but in the Hatchery, they work on their own business with mentoring, coaching, and other
assistance being provided by the Hatchery’s program director and other local entrepreneurs.
The program was born from a desire to help Drake University students get early funding for their
business, and a generous donation from John C. Lorentzen, Partner at Winston & Strawn in Chicago, a
Drake alumnus. Mr. Lorentzen received his B.A. and B.S.B.A in Political Science, Economics, and
Management from Drake University in 1977. He received a J.D. from the University of Chicago in 1980.
Thank you Mr. Lorentzen for your support of Drake University and our students and for your dedication
to this project.
doc_351923049.pdf
This brief outline amplify young entrepreneur panel were all highlights from the fall.
August 2014
A Letter from the Director
A few days ago, I watched as the young owners of the four Lorentzen Hatchery business
startups presented to a packed room at 1 Million Cups. Thanks to the generosity of John
Lorentzen they have had the opportunity to focus on their entrepreneurial dreams this
summer. Geoff Wood and Tom Swartwood graciously and consistently mentored them as they
tackled the challenges of a business startup.
This year the Centers have focused on growth, community engagement, and reaching beyond
the College of Business and Public Administration to engage students in other disciplines.
Project Bulldog, the Women’s Startup Boot Camp, and a young entrepreneur panel were all
highlights from the fall. Spring semester began as we hosted the inaugural Best Practices in
Entrepreneurship Education Workshop for Iowa private universities and colleges, continued
with the Pappajohn Student Business Plan Competition, and culminated in a new partnership
with Ascent to provide our first multi-campus Women’s Startup Boot Camp.
It is with gratitude I would like to thank my colleagues, Tom Swartwood and Stephanie Cardwell
for all their dedication to entrepreneurship at Drake, and John Pappajohn and Bill and Jean
Buchanan for continuing to believe in what we are doing at Drake.
As the new academic year is about to begin our goal is to continue to identify and strategically
pursue opportunities for growth, community engagement and reaching beyond the doors of
Aliber to engage students across campus. I would be delighted to have a cup of coffee and tell
you more but in the meantime please read on.
Best regards,
Debra Bishop, Ph.D.
Debra S. Bishop, Ph.D.
Director
303 Aliber Hall
[email protected]
515-271-3818
Thomas M. Swartwood, J.D.
Assistant Director
301 Aliber Hall
[email protected]
515-491-6561
Stephanie Cardwell
Administrative Assistant
302 Aliber Hall
[email protected]
515-271-3071
Drake University • 2507 University Avenue • Des Moines, Iowa 50311 • 800-44-DRAKE
•http://www.drake.edu/ •https://twitter.com/EshipDrake •https://www.facebook.com/DrakeEntrepreneurship •
ADVISORY COMMITTEE
We would like to acknowledge and thank the members of the Entrepreneurship Centers’ Advisory
Committee for their continued support and contributions to the Centers:
Jason Berger, North American Minerals
William Buchanan, United Life Insurance Company
Renae Chesnut, Drake University
Tej Dhawan, Nestmint Founders Fund
Meg Fisher, Lincoln&Lexi
Alexander Grgurich, Fresk Interactive
Emily Harris, Davis Brown
Lynn Hicks, Des Moines Register
John LaMarche, Venturenet
Justin Schoen, eComegy
Camille Urban, BrownWinick
Connie Wimer, Business Record
We met with our Advisory Committee twice this year, once in October and again in February.
Additionally, members of the committee, both individually and as a group, have provided invaluable
input into the development of a strategic plan for the Centers.
In particular, we would like to thank Jason Berger for spending a significant amount time with us and
Dr. Bradley Meyer (Drake University) to develop and refine a strategic plan for the Centers. Jason
facilitated an outstanding strategic planning session at his office that both reaffirmed our mission and
guided us in refining our goals for moving forward.
ACADEMICS
Thanks to the contributions from the Buchanans and Mr. Pappajohn, we continue to offer both an
Entrepreneurship Major, Minor, and graduate course. Center staff crafted and taught the following
courses in the 2013-2014 academic year:
? Business 198: Service Learning in Uganda
? Business 298: Entrepreneurship and Leading an Entrepreneurial Venture
? Entrepreneurship 001: Profiles in Entrepreneurship
? Entrepreneurship 101: Introduction to Entrepreneurship
? Entrepreneurship 150: Entrepreneurship Business Model
? Entrepreneurship 190: Creating a Company
? First Year Seminar 048: Stories of Business
? Health Science 055: Issues in Health Sciences. This interdisciplinary course introduces students
to entrepreneurial leadership and how it can be applied to activities, project and careers in the
health sciences. Students gain an understanding of the roles of entrepreneurship and leadership
in their professional careers. Students also learn basic management skills necessary to evaluate
and pursue new product opportunities in any health-related setting. Course includes a project in
which students will use the business planning process to identify and evaluate a new product in
the health sciences.
? Management 120: Management of Operations
? Management 160: Planning/Control of Operations
CourseFocus:
Business003:TheBusinessProfession
Earlyinthefallsemester,werecruitedeightyoungcommunityentrepreneurstospeakaspartof
apanelinDeanBlum’sBusiness003class.Theyoungentrepreneurs,somecontemporariesof
thestudents,wereinvitedtosharetheirstorieswiththeclassprovidinginsighttohelpthem
advanceintheircareerpath.
Thespeakerswere:
? Willow Bauer, The Palmer Group
? Derian Baugh, Men’s Style Lab
? Johanna Determann, Hello Wellness
? Meg Fisher, Lincoln&Lexi
? Jill Haverkamp, On Pitch
? Torey Maerz, Rocket Referrals
? Leslie Sabick, GRN Designs
? Justin Schoen, eComegy
STUDENT ORGANIZATIONS AND COMPETITIONS
Center staff are committed to ensuring the success of students and continue to work closely with and
serve as advisors to: Delta Sigma Pi, a professional fraternity organized to foster the study of business in
universities, and promote closer affiliation between the commercial world and students of commerce,
and to further a higher standard of commercial ethics and culture and the civic and commercial welfare
of the community; Delta Rx Institute, an organization that serves to promote a philosophy of life
centered on “entrepreneurial leadership” in pharmacy; and members of Enactus, community of
student, academic and business leaders committed to using the power of entrepreneurial action to
transform lives and shape a better more sustainable world. Additionally, we are committed to working
with the local community, helping one small business on process improvement and another on global
supply chain expansion.
DeltaRx
This spring marked the 7th annual DELTA Rx Next Top Entrepreneur Competition. Team participants
represented a wide variety of majors, including pharmacy to business to health sciences.
The judges, representing both business and healthcare fields, were faced with the tough decision of
selecting the top presentations each round, as well as which teams would move on to the next round.
Three winners were selected by the judging panel and awarded cash prizes of $1,500, $1,000 and $500,
respectively.
? 1
st
Place – Neel Patel and Scott Morrett
? 2
nd
Place – Holly Thurauf and Natalie Gadbois
? 3
rd
Place – Anna Shields and Shea O'Brien
Neel is an alum of our program, having sucessfully completed the Entrepreneurship Major last year
while pursuing his pharmacy degree.
Project Bulldog
In October 2013, Drake University Enactus was proud to hold their first “Project Bulldog” competition,
inspired by ABC’s Shark Tank. Drake University students were invited to pitch their innovative ideas to a
panel of entrepreneurs for a chance to win $500, thanks to a donation from the Iowa Expat Trust.
For the inaugural event, seven student teams pitched their innovative business ideas to five Des Moines
entrepreneurs and venture capitalists: Dan Shipton of BitMethod and Change; John Jackovin of Bawte;
Milt Milloy of FxRedux Solutions; Aaron Hoffman of StoneFinch; and John LaMarche of VentureNet.
After a morning full of 10-minute pitches, judges awarded prizes as follows:
? 1
st
place – AP Lumina Brake System, Naren Bhojwani, College of Business & Public
Administration
? 2
nd
place – Motivus App, Jay Smith, College of Business & Public Administration, and Kassandra
Chesire, College of Business & Public Administration
? 3
rd
place – ALS Shower Dispensary System, Sarah Martin, Arts & Sciences
There was an additional award for Audience Choice, and after votes were tallied, this award went to
Syed Afiful Hazazi Syed Ghazi (College of Business & Public Administration) and Chang Sun (School of
Journalism) for the Break It! Warehouse.
Pappajohn New Venture Student Business Plan Competition
Sponsored by John Pappajohn and Equity Dynamics Inc., the Pappajohn New Venture Student Business
Plan Competition is intended for college and university students in Iowa who have an interest in starting
their own business. Plans are judged based on the content and viability of the plan.
In the Drake regional competition, seven plans were presented to the judges:
? Drive 'N Pay – Jackson Dodge & Elizabeth Roque, Drake University
? Politically Connected – Futas & Howard, LLP, Travis Futas & Eric Howard, Drake University Law
School
? Mentoring Creations – Sarah Dellea, Theresa Kelly, Tabetha Williams, Drake University
? NFuze – Colin Anderson, Aaron Hawley, James Loffredo, Alberto Munoz, Drake University
? Referral Buddy – Naren Bhojwani, Travis Ormsby, Dylan Verburgt, Drake University
? Self Serve Suites – Megan Armstrong & Alyssa Mougin, Drake University
? SoundWave Violins – Neshama Breshears, Shaynee Breshears, Ethan Pitt, Graceland University
The regional winners were Drive ‘N Pay, Mentoring Creations, and Self Serve Suites who were selected
to go on to the 2014 Statewide Competition. Finalists presented their business plans to John Pappajohn
– president of Equity Dynamics, Inc., Des Moines, and founder of the five John Pappajohn
Entrepreneurial Centers in Iowa – and two of his senior staff members, Dan Storck and Matt Kinley.
While none of the Drake Students took the top prize this year, we are proud of their dedication and how
enterprising all the participants were.
2014 Pappajohn New Venture Student Business Plan regional finalists
Lorentzen Hatchery
Summer 2014 marked the first year of the Lorentzen New Venture Student Hatchery. The Lorentzen
Hatchery is a unique program aimed at fostering student startups where students get paid while
working on their startup. This program is open to all Drake University students who are willing to
dedicate a summer of full-time commitment toward meeting their project’s goals and fulfilling program
benchmarks, including regular meetings with the program director, mentors, participating in training
and other events as required. The 2014 participants are:
? AP Lumina – Naren Bhojwani and Benjamin Mullis
? Frank's Fixies – Aaron Hermsen and Joaquin Valdes
? Reflex Fight Gear – Kevin Clark
? Opportunity On Deck – Dylan DeClerck
We would like to extend a special thanks to Geoff Wood (Startup Genome, Gravitate, and Welch
Avenue) for serving as the Hatchery’s Program Director this year.
On Friday, October 3, Hatchery participants will be presenting on their respective businesses to a panel
including Mr. Lorentzen.
2014 Lorentzen Hatchery participants and Program Director, Geoff Wood
Project Management Study Group
In the spring term, a review group was formed to help students who were interested in pursuing Project
Management Institute’s (PMI) Certified Associate in Project Management (CAPM) certification. Students met
throughout the term to study and prepare for the exam. Thanks to the help of Norm Veen, past president,
Central Iowa Chapter PMI, seven students had the opportunity to receive grants for successfully completing
the study group and passing the CAPM exam.
WORKING LOCALLY LOCAL WHILE KEEPING AN INTERNATIONAL FOCUS
We have continued our mission to provide an exceptional learning environment that prepares students
for meaningful personal lives, professional accomplishments, and responsible global citizenship through
service learning, as exemplified by our long-term relationship with colleagues at the Makerere
University Business School (MUBS) in Kampala, Uganda. Throughout the year, we have continued to
cultivate this relationship:
? Late in the academic year, a delegation from MUBS visited Drake.
? Students hosted a fundraiser night at Buffalo Wild Wings restaurant for the Kikiwanda Village
Medical Clinic.
? Students have also been working hard to collect computers and USB drives for City Secondary
School.
STRENGTHENING COMMUNITY AND PROFESSIONAL CONNECTIONS
As in previous years, we continue to be engaged with the Central Iowa entrepreneurship community as
well as academic and other professional organizations. During the year:
? We have collaborated with professionals in the local entrepreneurship and startup community,
bringing them into the classroom to guest lecture on entrepreneurship.
? We have participated in national conferences such as: United States Association for Small
Business and Entrepreneurship (USASBE); Production and Operations Management Society
(POMS); and Global Consortium of Entrepreneurship Centers (GCEC).
? To broaden the presence of the Centers, we have participated in numerous startup community
events, including hosting Google’s Get Your Business Online Week, and working with individual
entrepreneurs on planning.
? Startup Boot Camp for Women: In November 2013, we held our third Startup Boot Camp. In
June 2014, we partnered with Ascent Iowa to hold our largest Boot Camp yet. The June Boot
Camp joined participants in Des Moines with participants at Mount Mercy University in Cedar
Rapids. We continue to reach out to women through a series of workshops designed to help
women-owned businesses get off the ground. This year’s alumnae are looking to provide a wide
range of services including wellness, fitness, microfinance, catering, gourmet baking, personal
services, and consulting.
? Working with Drake’s marketing team and others, we have been promoting the community of
Des Moines and the Entrepreneurship. Entrepreneurship at Drake has been featured several
times:
o Today Show segment, Des Moines, where regular folks can live the rich life.http://www.today.com/money/des-moines-where-regular-folks-can-live-rich-life-
2D11965288
o WHO-TV Beauty Bar segmenthttp://whotv.com/2014/03/05/beauty-bar-new-type-of-salon-
in-metro/
o Insight on Business radiohttp://insightadvertising.typepad.com/weblog/2013/11/wowstunning-and-thank-you.html
o Des Moines register article on sibling businesseshttp://www.desmoinesregister.com/apps/pbcs.dll/article?AID=2014301260018
o Times Delphic article on the Today Show segmenthttp://timesdelphic.com/2014/02/06/professor-featured-on-today
o Times Delphic article on the Pappajohn Student Business Plan Competitionhttp://timesdelphic.com/2014/02/20/students-create-own-businesses
o Times Delphic article on Music Universityhttp://timesdelphic.com/2013/10/10/music-
conference-draws-high-profile-artists
BEST PRACTICES IN ENTREPRENEURSHIP EDUCATION WORKSHOP
In February, we hosted the first Best Practices in Entrepreneurship Education Workshop for many of Iowa’s
private universities and colleges. We had participants from 12 institutions join us to discuss issues that
entrepreneurship educators face. The majority of participants are interested in continuing these
conversations in the future and we hope to see a second workshop in late winter or early spring of 2015.
Participants included:
? Briar Cliff University – Judy Thompson
? Buena Vista University – Kihwan Kim
? Central College – Wade Steenhoek
? Coe College – Jay Chen
? Cornell College – Leon Tabak
? Dordt College – David Griffith
? Graceland University – Justin Akers
? Loras College – Ronald Collins
? Maharishi University – Scott Herriott
? Simpson College – Bob DeGraaff and Marilyn Mueller
? University of Missouri Kansas City – Tom Boozer and Tammy Broadus
? Wartburg College– Timothy Ewest, Scott Fulwiler, and Kacee Garner
LOOKING AHEAD
? Part-time position: John Walker will be joining us part-time this semester teaching Introduction to
Entrepreneurship, 101. Mr. Walker is currently President at TimberCreek, LLC, Managing Partner of
HelpTutor.me, and Core Development, Inc. Responsibilities include strategic positioning and
planning, capitalization strategies, financial & business modeling, and business plan development. He
has also been highly involved teaching Business Start Up and Entrepreneurship in central Iowa and
mentoring many entrepreneurial ventures. John obtained a B.S. from Iowa State University, and an
M.B.A. from the University of Iowa.
? Music University: October 4 & 5, 2014, we will be sponsoring the Des Moines Music Coalition’s next
Music University session.
? Startup Boot Camp for Women: We plan to work with Ascent to deliver additional sessions of the
Startup Boot Camp in late fall 2014 and late spring 2015.
picture from our June 2014 Startup Boot Camp
ABOUT THE CENTERS
The Buchanan Center for Entrepreneurial Leadership
The focus of the Buchanan Center is to provide curricular and co-curricular opportunities for our students.
This includes support of:
? Major in Entrepreneurial Management and minor in Entrepreneurship
? Entrepreneurship Week activities
? Entrepreneur in Residence
? Physical center infrastructure
? Service learning opportunities
? International entrepreneurship opportunities
Bill Buchanan, a 1957 Drake graduate in actuarial science, along with his wife, Jean, have given Drake
University a $3 million gift to establish the William M. and Jean M. Buchanan Center for Entrepreneurial
Leadership.
The Buchanans have hosted alumni receptions at their home and supported Drake students through the
Buchanan Endowed Scholarship, along with contributing to other new and continuing programs of the
University. Bill Buchanan also helped to create and support the Adams/Bowers Actuarial Education Center at
Drake.
Buchanan is chairman of Unified Life Insurance Co. in Overland Park, Kan., where he and his wife have a
second home, in addition to their Irving, Texas, residence. Unified Life Insurance Co. is privately owned by
Bill and Jean and their children and grandchildren. He is known for his entrepreneurialism and consulting
work and has organized, developed, and managed actuarial consulting companies in Texas, Missouri and
Kansas, which operate nationwide.
Thank you Buchanans for your continued support of entrepreneurship in Iowa and Drake University.
The Pappajohn Center for Entrepreneurship Outreach
The center was established in 1998 with generous funding from Mr. John Pappajohn. The function of the
Drake University Pappajohn Center is outreach oriented with much of the effort collaborative in nature. This
includes support of:
? Iowa Business Plan Competition – the annual state-wide competition for start-up businesses
? Iowa Student Business Plan Competition – held each spring
? Community outreach projects
? Physical center infrastructure
With the support and encouragement of Mr. Pappajohn, collaboration continues with the four other
Pappajohn Centers across the state of Iowa. Fall began with the announcement of the Iowa Business Plan
Competition winners. Winter started with our annual New Venture Business Plan Competition for college
students across the state of Iowa. Along the way, we had the opportunity to mentor aspiring entrepreneurs
on campus and in the community, teach workshops to small business owners and entrepreneurs, and
continue to develop a strong entrepreneurial network
With over 50 years of experience in entrepreneurial endeavors, John Pappajohn is one of the most
recognized and celebrated business leaders in and outside of the Midwest. Mr. Pappajohn has organized and
financed the John Pappajohn Entrepreneurial Centers at five different universities and colleges in the state of
Iowa for more than $30 million. These centers have helped create and launch over 1,000 new companies.
Thank you Mr. Pappajohn for your support of entrepreneurship on campus as well as across the state of
Iowa.
Lorentzen New Venture Hatchery
This is the inaugural year for the Lorentzen New Venture Hatchery. The Hatchery is a summer program
designed to help students gain an unprecedented opportunity to start their business while still in school,
under the mentorship of experienced entrepreneurs. As Hatchery participants, students receive stipends
to cover housing, startup costs, and other expenses but the program provides more. Participation in the
Hatchery is an internship-plus: stipends are comparable to what students would receive if working at an
outside firm but in the Hatchery, they work on their own business with mentoring, coaching, and other
assistance being provided by the Hatchery’s program director and other local entrepreneurs.
The program was born from a desire to help Drake University students get early funding for their
business, and a generous donation from John C. Lorentzen, Partner at Winston & Strawn in Chicago, a
Drake alumnus. Mr. Lorentzen received his B.A. and B.S.B.A in Political Science, Economics, and
Management from Drake University in 1977. He received a J.D. from the University of Chicago in 1980.
Thank you Mr. Lorentzen for your support of Drake University and our students and for your dedication
to this project.
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