Start Me Up
Every Saturday morning, young entrepreneurs in college are waking up with visions of starting the next Cisco or Microsoft. Lifting their heads up from their pizza box pillows, they brush off the Dorito crumbs, struggle to their feet, and stagger out through the graveyard of Natty to announce their new ideas to the world.
But alas…these new ideas often don’t make it past conception in colleges today, as they get dragged down and suffocated in a quagmire of legal issues and technical hang-ups.
This problem was recently detailed in the article How Colleges Can Better Nurture Startups. Interestingly, the article explained how the start-up scene in Silicon Valley has “become based on trust and community,” escaping the formal straight-jacket college can put entrepreneurs in. Proposed remedies for this formal quick sand included colleges creating a venture lab run by an experienced visionary (who also has the Benjamins to throw behind new ideas) and simplifying the crippling “spin-off process.”
According to the Smeal College of Business, The Penn State Entrepreneurs Network and Nittany Lion Venture Capital both provide an outlet for students to come to with new ideas for business ventures. Hopefully, by making it easy for these new ideas to grow legs, Penn State can foster new entrepreneurial ventures so students don’t have to reach out to private investors and other options outside of school.