UT's Innovation, Creativity and Capital Institute is trying to establish a business "hatchery" that will teach undergraduate students the art and science behind entrepreneurship.

Students will learn about entrepreneurial processes that will help them develop, expand and commercialize individual business ventures and enterprises in their early stages, the institute's director John Butler said.

The proposed "hatchery for business creation" will build on the institute's Austin Technology Incubator. According to the institute's Web site, the nonprofit incubator works with technology companies in their early stages to increase their clients' odds of success.

"Animals incubate their children when they're born," Butler said. "We'll incubate our students when their ideas are being bonded into the world," Butler said.

Butler said he hopes the program will accommodate 25 to 30 student businesses and will have at least one full-time employee.

"Right now we're trying to find faculty members to guide the courses," he said.

William Cunningham, the James L. Bayless Chair for Free Enterprise and former University president, will lead the development of the program's core courses: innovation and new venture development.

"Every opportunity we have was created by an entrepreneur," Butler said. "In high school, my teacher never said to me, 'This is how you become a Henry Ford.' We'll use this program as an introduction to entrepreneurship."

Butler said he hopes the program will launch in January 2009 and will be part of one of UT's Bridging Disciplines Programs, which allows undergraduates to earn an interdisciplinary certificate that complements a major.

Jeanette Herman, senior program coordinator of the Bridging Disciplines Programs, said the "hatchery" program has not been approved yet. She would not disclose any further information.

Butler said he has informally helped undergraduates with entrepreneurial projects for years, such as finance and government senior Christopher Modi's lightweight Kayak called The Modiak.

Though Modi kick-started his project without the program's formal training, he said he knows it will benefit many other students.

"A lot of people can have that initial spark and energy to come up with a business idea, but get nowhere," Modi said. "With guidance and advice, they can hone in on a skill set. I think it's incredibly important to implement this program, so that it can untap students' potential. It's good for the UT campus, the city of Austin and the economy in general."

Page 1 of 1

Article Tools