Wendy E.F. Torrance, Ph.D.
Director, Global Scholars Program, Ewing Marion Kauffman Foundation
When the Kauffman Foundation launched the Global Scholars Program in 2006, we
envisioned a unique and world-leading opportunity that would teach and excite
aspiring technology entrepreneurs. We planned to immerse them in entrepreneurial
culture in the United States with a view to inspiring, building skills and
knowledge, and turning their expertise in the direction of entrepreneurship and
the creation of innovative businesses.
Guided by Benjamin Franklin's lessons from centuries ago about the importance
of the transnational exchange of ideas and the fostering of innovation, we have,
during the last two years, built a program that we believe offers an
unparalleled education in entrepreneurship. We have identified a core faculty,
forged collaborations with centers for technology and entrepreneurship at
Harvard and Stanford, worked with exemplary entrepreneurial companies, and
created a curriculum that challenges the Scholars to refine and develop their
ventures, and answer questions that are crucial to their progress. We have
hosted twenty-seven students from universities in England, Denmark, and Northern
Ireland, and are busy preparing for the arrival of our third class of Scholars
in January 2009.
The Foundation feels fortunate to have worked with these remarkable Scholars,
all outstanding ambassadors for their home countries and enthusiastic observers
of, participants in, and contributors to, American entrepreneurial culture. The
program has, according to charter class members, inspired a significant positive
impact on the path of their careers. They have called the experience "life
changing," noting that their work with the Kauffman Foundation has equipped them
with the tools, skills, and network to launch successful ventures. Students in
our 2008 class have adopted the motto, "Everything has changed," and they note
that the education they have received has transformed their perspectives, given
them the confidence to pursue their ventures, and opened a vast transnational
network that has provided them with myriad opportunities.
One 2008 Scholar characterized the transformation this way: "The world has
gotten smaller, but my idea . . . what I want to do has gotten bigger." How did
the Program contribute to this change in how the Scholars view the world,
themselves, the power of their ideas, and the path they can forge for the
future? How do entrepreneurs come to view the world as small, and the potential
for their ideas very large?
First, the Program selects the most accomplished students and aspiring
entrepreneurs from their respective countries. Recognizing that the quality of
one's peers is an important driver of success in any endeavor, we sought to
create a network of the best supporting the best. Many of our Scholars have
cited their own fellow Scholars as catalysts for change in their own ideas. The
opportunity to share ideas, get feedback, and discover fruitful collaborations
has strengthened and developed the ventures of each and every Scholar. Our
alumni network leverages the collective lessons and affords opportunities for
the Scholars to continue to work together.
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The second class of the Global Scholars Program, standing, left to right: George Hudson, Stuart Varrall, Mitu Khandaker, Sune Johansen, Anthony Solon, Rasmus Eriksen, Michelle Esteves, Owen Gallagher, Angelo Grubisic. Seated, left to right: James Reed, Marcus Haggers, Helena Munn. |
Second, the Program offers the highest quality education in entrepreneurship,
featuring presentations, seminars, workshops, and discussions with leading
professors, researchers, innovators, entrepreneurs, and practitioners from
around the country. The faculty we assemble from leading universities and
programs on entrepreneurship, as well as leading law firms, teach the Scholars
about building new ventures, finance, venture and angel capital, intellectual
property and business law, marketing, building teams, negotiation, and
generating and managing innovation. Visits to some of the finest universities in
the country, including Harvard, MIT, and Stanford, exposes the Scholars to
faculty and students engaged in visionary technology and in promoting
entrepreneurial ventures that have had an impact worldwide. The seminars and
visits provoke discussion, urge Scholars to improve their ideas, provide
valuable insights that transform their thinking about entrepreneurship and new
ventures, and help them develop their ideas.
Third, the Program exposes them to some of the most accomplished innovators
and entrepreneurs in the country, who share their stories and experiences,
complete with triumphs and tribulations, and who provide myriad examples of how
you can move from an idea, however small, to a bigger idea and great commercial
success. These innovators and entrepreneurs articulate the lessons they have
learned and inspire our Scholars to think that they could move from their garage
or computer desktop to the market. A day with inventor Dean Kamen, for example,
afforded the Scholars the opportunity to hear what motivates a successful
innovator, how new inventions are conceived and brought to market, and what
challenges face those who choose to work on the bleeding edge of technology.
Fourth, by exposing the Scholars to the most innovative regions of the United
States in Boston and Silicon Valley, we highlight how ideas are put into action
with spectacular results. Using the skills they learned during classroom
sessions, the Scholars have the opportunity to network with individuals and
businesses in these unique environments. Engaging with entrepreneurs and
business leaders in these regions engender the kind of familiarity with success
and the culture of risk-taking that makes the world seem smaller.
Fifth, the Scholars have the opportunity to immerse themselves in the
day-to-day operations of an innovative firm. Our Scholars work with cutting-edge
technology and media companies, including Google, Cisco, InVivo Therapeutics,
and InCube Ventures, and have mentors from top levels of leadership (including
CEOs and founders) as well as other division leaders. They contribute to product
development, research, Web development, sales, market identification, and many
other important projects. They shadow company leaders, sit in on business
development meetings, learn about venture capital, have discussions with
founding entrepreneurs, and learn first-hand about the challenges of launching a
new or cutting-edge enterprise.
Sixth, the Scholars complete learning modules developed specifically for the
Program. These modules integrate classroom lessons with internship experiences
and the stories of entrepreneurs, provide additional reading, and encourage the
Scholars to develop their perspectives and their ideas. Topics include
entrepreneurs and growth, identifying and evaluating opportunities, market
research, recruiting and hiring, risks and risk management, and entrepreneurial
finance.
Through all of these opportunities, the Program enables Scholars to imagine
and to become entrepreneurs with a world-wide vision.
We are eager to follow the careers of our alumni. Of twenty-seven fellowship
recipients, fourteen have established companies or consultancies, and four are
actively pursuing startup opportunities in a variety of arenas. Their new
companies will provide innovative products to prevent flood damage, improve the
computing and mobile experience of the colorblind, and contribute new technology
to the challenges of remote security surveillance. A remarkable four Scholars
were selected to the top 100 of the HSBC Unipreneurs competition—an award
program that aims to discover and encourage a new generation of
university-educated business entrepreneurs—and a team of two charter class
members won the top prize, beating more than 400 hopeful competitors.
As a result of creating the Global Scholars Program, the Kauffman
Foundation's own world has grown smaller; we have friends in entrepreneurs
across the Atlantic, and our ideas have gotten bigger. We have learned a great
deal about our own capacity to inspire new entrepreneurs, and our future
endeavors will be richer because of the experience we have had with these
remarkable entrepreneurs. We look forward to the prospect of inspiring, and
being inspired by, the next generation of global entrepreneurs.
